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Saturday 25.01.2020 | Name days: Sigurds, Zigurds

Growing number of tourists staying over-night in Riga

In July 2011, the average hotel occupancy rate in Riga was up 24%, hitting 80%, while the number of passengers arriving at Riga Passenger Terminal rose 16%.

Tax debts to budget hit 873.55 million lats

In early August, debts total 873.55 million lats in the Latvian budget, of which debts to the state budget account for 545.52 million lats, liabilities with municipal budget make up 201.35 million lats and debts from social insurance contributions - 126.68 million lats.

Expert: crisis to last for another seven years

The economic crisis is not over – it will continue for about ten years, of which only three years have passed so far, believes Ojars Karcevskis, president of the Latvian Fuel Traders’ Association.

16% of population listen to pre-election promises

Only 16% of economically-active residents of Latvia admit they listen to politicians’ pre-election promises – 3% of the economically-active population claim they definitely do this, while 13% recognize they rather take notice of pre-election promises.

Lattelecom to boost profitability in 2011, retaining the same turnover

The fixed telephony network and pay-TV operator Lattelecom intends to conclude this year with approximately the same turnover as last year and with slightly higher profitability, indicates Juris Gulbis, chairman of the company’s board.

Municipal company Rigas udens profit drops sharply

Rigas udens, municipal company owned by the Riga City Council, concluded the past year with 144 thousand lats in profit - 14 times less than a year earlier.

Lithuania loosing its skilled workforce

Highly-qualified specialists are still leaving Lithuania, despite employers complain about the shortage of such workers.

Economist: labour market keeps recovering

Over the year, the number of employees has risen 3.3% or by 30.5 thousand, and these data cancel out talks on economic recovery without job creation in Latvia, says Olegs Krasnopjorovs, economist at the Bank of Latvia.

Industrial producer prices surge 8% year-on-year

Compared to June, the overall industrial producer price level in Latvia was up 0.7% in July 2011. Producer prices increased 0.4% for products sold on the domestic market, while rising 1.2% for the exported goods.

Brent slips below 106 U.S. dollars

Brent crude fell below 106 U.S. dollars per barrel on new concerns about weak demand after data on the U.S. – world's largest oil consumer – were released.

Uncertainty over planned austerity measures worries 73% of population

The current budget consolidation has been postponed until the end of 2011, so majority (73%) of the economically-active residents of Latvia aged 18 – 55 years are concerned about the uncertainty regarding planned austerity measures in 2012.

Expert: investing in gold is like jumping on moving train

From the investment point of view, investing in gold now is the same as jumping in the last car of a moving train, recognizes Harijs Svarcs, head of Swedbank's Investment Management.

Dutch investors to attract 50 million lats to Baltic region

After a long period of stagnation, the gradually recovering economy of Latvia has attracted foreign investors’ interest. Therefore, aiming to invest in the prospective Latvian and Baltic companies' expansion, the Dutch company BGF.BV is launching its operations in this region, indicates Artis Davidnieks, company's authorized representative.

Number of economically-active population shrinks 0.7%

Compared to the same period last year, the number of economically-active population dropped 0.7% in the second quarter of 2011. Nearly two thirds (65.8%) of the residents were economically-active. This indicator accounted for 70.4% among men and for 61.6% among women, according to the Central Statistical Bureau data.

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