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Friday 23.08.2019 | Name days: Valgudis, Ralfs, Vitālijs

The Latvian Shipping Company: low point phase is over

According to the concern A/S Latvijas kuģniecība (The Latvian Shipping Company) semi-annual report, company’s loss in the first six months of 2010 has reached 25.2 million dollars (13.9 million lats).

If files complaint against SFS insurance tender

The insurance company If P&C (If) has filed a complaint to Latvian Procurement Monitoring Bureau (LPMB) concerning the results of The State Forest Service(SFS) public tender for its employees' health insurance.

Kampars: In four years there will be 50 firms per 1000 inhabitants

The implementation of microenterprise support programs will enable a qualitative leap in business activity indicators in the following four years, and ensure that the amount of enterprises per 1.000 inhabitants in Latvia at least reaches the average ratios of European Union (EU).

Zigurs: debts will be paid until next heating season

The amount of Riga residents heat debt amounts to 5 million lats, but it will be paid by the beginning of the next heating season, states the Chairman of Rīgas Siltums Aris Zigurs (Āris Žīgurs).

Expert: wages will go up next year

The economy expert of Latvijas Banka, Olegs Krasnopjorovs (Oļegs Krasnopjorovs), maintains that in the next year a sustainable salary growth is awaited in Latvia, as entrepreneurs will return to the initial premium wage system.

Skonto būve half-year consolidated profit - 6.98 million lats

Last year, the construction company Skonto būve consolidated profit after taxes and before minority interests amounted to 6.98 million lats.

Ventspils nafta half-year profit – 3.5 million lats

JSC Ventspils nafta consolidated net turnover in the first half-year of 2010 has reached 29 million lats.

Latvijas Krājbanka suffers losses in half year

Latvijas Krājbanka (LKB) has incurred 4.6 million lats loss in the first six months of the year, which is an increase of nearly three times.

Mancinskis: the amount of problematic credits stabilizes

According to the Chief Executive of Swedbank Maris Mancinskis (Māris Mančinskis), together with increasing solvency, which is associated with the overall improvement of the economic situation, the amount of problematic credits is also stabilizing.

Despite unstable U.S. and EU market, L'OREAL profit increases by 21%

The world's biggest cosmetics manufacturer L'OREAL revenue in the first half of this year has increased by 21%. The following results were achieved due to resumed sale of luxury perfumes in Asia and South America.

Nordea: Latvian economy improving

The situation in the Latvian economy is gradually improving and the lowest point has already been overcome in the beginning of the year. The most rapid improvement has been observed exactly in foreign trade, however household consumption has also resumed to increase slightly.

Specialist: price dumping in construction hits critical level

The Chairman of construction firm SIA Latvijas energoceltnieks (LEC), Andris Asars-Asarovskis, believes that price dumping in building industry has reached its critical level in company’s 20 years existence.

IMF: crisis in the Baltics eases

After the recession experienced in the previous year, the economic crisis in the Baltic states eases and region's growth potential is improving, announced International Monetary Fund (IMF).

Oskins: fat years hangover heavier than expected

Currently we have woken up at another ditch. Two years ago there was huge supply, but no demand; however, now it is the other way round - when the demand of the domestic market has started to recover - there is lack of adequate supply. This applies to both new and little used cars.

Sleep tight if your deposits do not exceed 100 thousand euros

One can sleep calmly only if the volume of deposits in a single bank does not exceed 100 thousand euros (around 70.3 thousand lats), because it is the amount that the government plans to guarantee for each depositor - physical or legal person.

Dombrovskis: there might be second wave of global crisis

The world might experience a second wave of crisis, which Latvia could not avoid, given that its economy depends on the economic processes in the world.

Nordea: the recovery of domestic demand will enable moderate rise of GDP

On a quarterly basis, a slight growth in Latvia’s economy will remain until the end of the year, although, overall, compared to last year, a small economic decline will remain. However, already in year 2011-2012 the recovery of domestic demand will facilitate moderate growth of gross domestic product (GDP).

Loan portfolio has decreased by 12% since 2008

In October 2008 the total volume of the Bank of Latvia's given loans reached its highest point of 16.78 billion lats. Whereas in comparison with the end of July of the present year, the amount of loans given mainly to households and enterprises has dropped by 1.98 billion lats, which is 11.8%.

Liepājas metalurgs loss increases to 7.7 million lats

In the first half of the present year AS Liepājas metalurgs has worked with a loss of 7.7 million lats. The net turnover in the first half of the year has remained in the level of the exact period of the previous year.

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