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Sunday 15.12.2019 | Name days: Jana, Johanna, Hanna

Immigration Law amendments likely to hamper real estate transactions

Amendments to the Immigration Law reveal the cadastral value of a property still tends to differ from the market value. Although up to now the latest amendments have not considerably affected the market, market participants see certain risks.

59% say Latvia should keep its airbaltic shares

59% of all the economically active population in Latvia believe the state should keep its shares in the Latvian national airline airBaltic.

Only three manufacturing sectors exceeded the 2008 performance last year

Although a number of manufacturing sectors are reporting rapid recovery, only three of them have outperformed the 2008 indicators.

Actual salary keeps dropping in Estonia

Despite gross salary started to climb last year after a year-long drop, the actual remuneration, which includes price gains and characterises the purchasing power, is shrinking already for the second year in a row.

Criminal proceedings launched against Elkor for money laundering

According to the Criminal Law Article 195 and 217, criminal proceedings, within the framework of which the police searched the shopping center Elkor chain on June 16, have been initiated for laundering and distortion of accounting documents.

New car registrations - 2nd fastest in EU

The number of new cars registered in the territory of Latvia accounts for the second fastest climb in the EU, totalling 125%, according to European Automobile Manufacturers' Association report, which comprises all EU member states, except for Cyprus and Malta, but includes Switzerland, Norway and Iceland.

Latvian Shipping Company cuts losses 70%

In the first quarter of 2011, Latvian Shipping Company (Latvijas Kuģniecība) and its subsidiaries posted 3.15 million US dollars losses (1.53 million lats), which is 70% less than in the exact period of 2010 with 10.58 million US dollars (5.15 million lats) in losses.

Euro drops on Greece debt crisis

Concern over severe Greece debt crisis, which could fail to round up successfully, has added to dropping euro on the international currency markets.

78% of businessmen check information about partners

Businessmen who do not check their future business partners in advance face financial challenges more often. However, 78% of businessmen in Latvia do carry out such «checks» of their existing and future partners.

Heating debts hit 39 million lats

As of May 1, 2011, heating debts total 39.17 million lats in Latvia, says Aino Salmiņš, representative of the Union of Latvian Local Governments.

Businessmen to repay tax debts if penalty charges are lifted

If the state of Latvia is willing to compromise and collect tax debts from businessmen, it should lift penalty charges imposed since September 1, 2010, according to Latvian Chamber of Commerce and Industry.

Annual inflation in Latvia - 4th highest

Annual inflation hit 4.8% in May, accounting for the fourth highest in the Europen Union. EU inflation rate remained flat - 3.2%, while eurozone inflation dropped 0.1 percentage point down to 2.7%.


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