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Sunday 16.12.2018 | Name days: Alvīne

Lattelecom Board Chairman: Baltkom and IZZI merger will reduce competition

By merging Baltkom and IZZI an opposite effect will be achieved – the competitiveness will be reduced, because one of the merged companies has economic problems and the other – quality problems, also there is a huge monopoly in the television market, considers Lattelecom Board Chairman Juris Gulbis.

Economist: government of Latvia shifts problem burden to society

None of the government's adopted decisions can be regarded as promoting the economic development. They mostly mean shifting the problems burden from their shoulders to the society and businessmen, believes the economist Raita Karnīte.

Expert: European debt crisis is like «slow motion wreck»

More European countries will need aid until policy makers deal with the causes of their financial difficulties, consisting of too much government debt and not sufficient spending monitoring.

62% rely on the state's old-age support

Two thirds or 62% of Latvia residents rely on the state's social help as material old-age support after retiring, according to Compensa Life conducted survey of 560 respondents aged 25-55.

Companies' value added drops by 35.7%

In surveyed economic activities, in 2009 the produced value added by enterprises at constant prices accounted for 4 850 million lats, of which services formed the largest part – 2 381 million lats or 49.1% of the total value added.

Latvian rental market demands furnished two and three-room apartments

Similarly as other segments, also the rental market of Latvia does not report any considerable changes in November. Furnished two and three room apartments still form the greatest demand.

Parex bank losses correspond to the planned

Parex Bank economic activities correspond to the planned and comply with the restructurization plan approved by the European Comission, providing inevitable loss, says Parex Bank Board Chairman Christopher Gwilliam.

Korean conflict can affect business of Latvia

The problematic situation in Korea dominates the foreground of global geopolitical conflicts, any minute they can turn into massive military clashes affecting the economy of Latvia as well.

Government approves VAT increase

On November 30, the government approved the value added tax rate increase starting from January 1, 2011.

Request of budget providing 8 million lats recovery from illegal alcohol market

The next year's budget should provide at least 8 million lats sum that can be recovered from tackling the illegal alcohol trade, smuggling and production, says the Association of Producers and Traders of Spirit Drinks (APTSD).

Baltkom and Izzi merger must comply with several conditions

Baltkom and Izzi will be allowed to merge, if they comply with several conditions. They will have to supply services of a specific quality and not to employ predatory pricing policy, the business portal BNN was informed by the Competition Council (CC).

EC: Lithuania should implement the Third Energy Directive despite Russia’s protests

Lithuania cannot utilize the exemption of the European Union Energy Directive; therefore, the country needs to separate the gas supply from gas transmission by using the gas pipeline, the European Commission indicates in a letter to the Lithuanian Prime Minister’s Office.

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