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Tuesday 21.08.2018 | Name days: Linda, Janīna

McDonald's launches three new restaurants in Latvia

Three new McDonald’s fast food restaurants in Riga will welcome visitors this year. Moreover, the company will launch its first restaurant in one of the biggest cities in Latvia as well, thus announcing itself as resolved to conquer also the regions, the company's representatives informed the business news portal BNN.

Latvian ports cargo turnover drops 1.3% in 2010

Cargo turnover at Latvian ports reached 61.16 million tons last year, it is 1.3% less than in 2009. Ships at Latvian ports loaded and transshipped 55.72 million tons of cargo in 2010, surpassing the indicators of 2009 by 3.2%, according to the Central Statistical Bureau.

Public persons’ property confiscation procedure to be changed

Today, January 31, the government’s Committee approved the new procedure of public persons’ property expropriation.

Moody's cuts Egypt debt rating

Ratings agency Moody's has downgraded Egypt debt rating by a notch - from Ba1 to Ba2 with a negative outlook, implying that further cuts are also possible.

Estonia retail sales surge for fourth consecutive month

Estonia retail sales soared 5% in December 2010, compared to October 2009. Moreover the rise has been ongoing for the fourth consecutive month already. A 1% growth in September and October 2010 replaced the two and a half years long retail sales drop.

Olainfarm turnover surges 13%

According to the provisional data, last year Olainfarm’s turnover amounted to 25.2 million lats – a rise of 13%, compared to the company’s turnover in 2009, according to NASDAQ OMX Riga stock exchange.

To date Latvia has acquired only 1/5 of EU funds

Despite the complex financial situation, Latvia is still slow in making use of the available EU funds. It has acquired only one fifth part of the European Regional Development Funds during four years time in a seven-years long period (2007-2013).

Electricity price to severely hit rural inhabitants

This year the price of electricity is higher than last year; moreover, the new tariff project will harshly affect large families and rural inhabitants in particular.

Banks and insurers conceal benefits available

Banks and insurers are possibly wasting millions on new competitive products development and promotion, as clients do not even get to know about them.

Experts: euro saved us from terrible crisis

If there were no euro, Europe would have been hit by a terrible crisis, thus the European system has worked out quite well. It turned out to be stable enough even in such a severe downfall, the expert Maurice Levy says.

FM refuses providing information on restitution of Jewish properties

The Ministry of Foreign Affairs will not provide a list with properties to be restituted to the Latvian Jewish community, as the issue of the restitution of Jewish properties is in a negotiation stage, but no agreement has been reached yet, the press secretary of the Ministry Jānis Sīlis says.

Construction costs down by 2.7%

Compared to the average level of 2009, in 2010 the construction costs in Latvia plummeted by 2.7%. The most notable drop in the main resource groups was in the maintenance and operational costs of machinery and equipment – by 5.7%. The prices of construction materials fell by 2.3%, while labour remuneration rose by 1.0%.

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