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Wednesday 20.02.2019 | Name days: Smuidra, Vitauts, Smuidris

Nokia and Microsoft to develop Android competitor

The mobile phone manufacturer Nokia and the software developer Microsoft are going to make joint effort to compete with Google and Apple in the fast-growing smartphone market,

Fuel excise increase to slow down economy

The government is considering the option to increase the fuel excise duty, gambling tax, real estate and capital gains tax. Several experts do not support this, as they believe the government has chosen a risky path, without providing any benefit to the economy.

Economist: Latvian economic growth resembles climbing a slippery slope

It is possible to compare the Latvian economic growth over the past decade with climbing up a slippery slope – rapid growth is replaced by a sharp drop, says Dainis Gašpuitis, the economist at SEB banka.

Producers angry at traders dictatorship

Food traders are becoming increasingly hungry for profit, which is devastating food producers. Food producers stress that the current situation is not a normal business practice. This is why several leading dairies are already considering to abandon part of the domestic market in favour of exports.

Income per family member drops by 40 lats a month

Income per family member amounted to 214 lats in 2009, which is 16% or 40 lats less than in 2008. The situation with a household income was an extraordinary one in 2009, as it dropped for most of households, while keeping flat or even surging for pensioners (26% of all the households).

Expert: gas era replaces cheap oil period

The cheap oil period has come to an end and the further price surge will be dictated by both extracting resource decrease and more complex oil extraction. At the moment, we are in front of a golden age of gas, considers Dainis Gašpuitis, the economist at SEB banka.

Apple to become most valuable company

The technology company Apple is heading towards becoming the most valuable company on Earth by 2012, analysts say.

DnB NORD loan portfolio drops 7%

DnB NORD Group loan portfolio before provisioning formed 1.6 billion lats in late 2010, which is 7% less than a year ago, the bank's representatives told the business news portal BNN.

External trade turnover spikes 43.2%

In December 2010, the total external trade turnover at current prices was 1032.6 milion lats – 4.0% or 40.0 million lats more, compared to a month before, and 43.2% or 311.5 million lats more, compared to December 2009.

People to be divided in groups for shadow economy combat

In order to combat the shadow economy, politicians are considering the possibility of applying the Deputy’s Ingrīda Circene prepared health insurance concept that would divide the population into three groups.

Triatel: decreasing number of rural inhabitants

The telecommunications operator Triatel is more and more affected by the consequences of the crisis – the migration of rural region inhabitants to foreign countries. Such trend was observed while considering the reasons why clients give up Triatel services, as well as by assessing new customers growth rate.

Swedbank: direct foreign investments return to Latvia

Along with the economic recovery foreign investors interest about the Latvian national economy has resumed as well, moreover the activity comes from both the existing investors and also new ones.

Aldaris export volume grows 76%

The export volume of Latvia’s major brewery Aldaris rose 76% in 2010, compared to 2009, the business news portal BNN was informed by the company’s Board Chairwoman Ināra Šure.

Latvia acquires Latvijas Finieris shares

The company Latvijas Valsts meži has purchased the first ten AS Latvijas Finieris shares; moreover, it plans to buy more. These shares comprise about 0.3% of the total stock.

Transport Minister: Latvia should increase its influence on airBaltic

Currently, airBaltic shareholders’ cooperation agreement is being assessed, and I wish the state, the major shareholder of the airline, would have more influence on the company, indicates the Transport Minister Uldis Augulis.

Electricity tariffs likely to rise 40%

The electricity tariff increase in April could be devastating and far exceed the promised 20%. The Public Utilities Commission intends to have a meeting on February 14 on the new electricity tariff draft set to come into force on April 1, this year.