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Friday 20.07.2018 | Name days: Ramona, Ritma

Expert: Latvia lacks qualified IT specialists

There is a shortage of qualified IT experts in Latvia. The problem is IT knowledge is the same in Latvia and other countries, so, given the mobility of the work force, many of them might have already left, according to an expert of the sector Signe Baltiņa.

Regulator: electricity prices to keep rising

Compared to other countries, currently the prices of electricity and gas in Latvia are among the lowest. It is naive to expect that prices will climb in the rest of the world, but remain flat in Latvia. I predict that they will rise, says Valdis Lokenbahs, the Head of the Public Utilities Commission.

China's government doubles investments in major Japanese companies

In 2010, China's government-wealth investors doubled their investments placed in major Japanese companies. The combined stakes now make up 19.4 billion dollars.

Lukoil subsidiary Litasco lost its contract with Ventbunkers for transshipment of fuel oil in 2011

«In December 2010, Lukoil subsidiary Litasco lost its contract with Ventbunkers for transshipment of fuel oil in 2011. Litasco will loose market share in the European fuel oil market,» states Dr. Rudolf Meroni, the Chairman of the Ventbunkers Supervisory Board.

GM posts 10-year-high profit – 4.7 billion dollars

Almost two years have passed since General Motors (GM) barely avoided bankruptcy, and now the company is announcing its last fiscal year’s profit, which is the biggest in the decade, linked to GM’s success in the car market, as well as to new car models the company has launched.

Boeing acquires 35 billion dollars worth Air Force agreement

The state of Washington and Kansas is celebrating the approval of Boeing’s contract, whose value amounts to 35 billion US dollars. The aim of this agreement is to build approximately 200 aerial refuelling tankers.

Porsche shares fall due to postponed merger with VW

Sports car manufacturing company Porsche shares value at Frankfurt Stock Exchange dropped 10%, after it became known the merger with the major German cooperation Volkswagen is postponed or even might not take place at all.

Unit value of export grows 8.3%, of import – 7.3%

Compared to 2009, last year the average level of export unit value rose by 8.3% and the average level of import unit value – by 7.3%.

Toyota withdraws 2.17 million cars in US

The carmaker Toyota Motors has recalled 2.17 million vehicles in the US, based on the accelerator pedal defect due to which it can get stuck in driver's side carpeting.

Latvian households still unlikely to get hold of Estonian electricity

After Latvenergo’s announcement on electricity tariff rise, companies and people have started to show increased interest in options to buy Estonia’s electricity from SIA Enefit. Currently, Enefit is servicing a number of companies.

Grindex profit last year – 7.1 million lats

Last year, the holding group Grindex turnover comprised 65.1 million lats – an increase of 11.5 million lats or 21.5% more than in 2009. While, in the reference period, the group’s net profit attributable to the parent company’s shareholders accounted for 7.1 million lats – a growth of 3.5 million lats, or 97.2% more than in 2009.

Naftimpeks in fight with Statoil and Neste

Riga port company Naftimpeks conflict with Statoil and Neste on railway tariffs has reached the court, as Naftimpeks is not satisfied with the tariffs rise imposed by both of the Scandinavian capital companies and believes it is ungrounded.

Retirement age to reach 70 years

When assessing the social budget sustainability, it is not excluded that the retirement age could amount to 70 years, the Finance Minister Andris Vilks, DnB Nord Bank economic expert Peteris Strautiņš and Welfare Ministry’s Deputy State Secretary Ingus Alliks say.