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Monday 15.10.2018 | Name days: Hedviga, Helvijs, Eda

Experts forecast oil price drops in late 2011

The global economy has not yet recovered enough to bear such high oil prices as at the moment, thus global oil prices could hit 105 dollars a barrel in late 2011, falling down to 98 dollars a barrel in 2012, Swedbank forecasts.

Housing prices drop 0.7%

In March 2011, housing prices in Riga suburbs hovered around the levels of May 2010, dropping 0.7% on monthly basis. While apartments prices have gained 23.4%, compared to September 2009, according to Arco Real Estate.

Legal persons’ insolvency case initiation becomes costlier

Legal persons’ insolvency case initiation has become more expensive, points out Agnese Kveska, the Chairwoman of the Latvian Certified Insolvency Process Administrators’ Association. She also notes that the number of insolvency processes is dropping.

Saeima Committee conceptually approves 2011 budget amendments

On Wednesday, April 6, the deputies of the Saeima Budget and Finance (Taxation) Committee conceptually approved amendments to the 2011 state budget by majority vote, deciding to forward them for the Saeima review. The amendments provide the state budget expenditure cuts hit 6.8 million lats.

Ober-Haus: stable housing market activity

In March 2011, housing prices remained flat, only with some segments reporting a small increase. The average price of non-renovated serial apartments in Riga residential areas was 577 euro/m2.

Excise tax raise on tobacco – not the only alternative

The National Association of Tobacco Manufacturers (NATM) believes the government’s proposed budget amendments estimates are questionable. It is impossible to meet these amendments now submitted to the Saeima, because experience shows revenues drop and illegal market spikes.

Latvenergo not to collect contractual penalties for payment delays

Latvenergo promises not to calculate fines for households misunderstanding the new tariffs.

Demand drops as fuel prices soar

The surging fuel prices are causing the consumption drop, which cannot be compensated by the new Excise Tax Law.

EC representative: Latvia has good government e-service level

The level of the state administration e-service development in Latvia is sufficient and exceeds the European Union’s average level, says Paul Timmers, the acting director of the European Commission's Information Society and Media Directorate-General.

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