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Monday 24.09.2018 | Name days: Agris, Agrita

Newsec: not the fittest survive, but those who adapt

2011 marked real estate market's recovery in Latvia and the Baltics in general. Potential investors and project developers again express their interest, despite slow and gradual, to place their money here, Newsec Chief Executive Olga Kozina told the business news portal BNN.

Number of airBaltic passengers grows 41%

In April 2011, the Latvian national airline airBaltic carried 297 591 passengers from Riga, Vilnius and Tallinn – an increase of 41% over the same period last year. In April 2010 the airline transported 211 503 passengers, Jānis Vanags, vice president of airBaltic corporate communications, informed the business news portal BNN.

Expert: oil prices are blown up

Recently, the oil price has even amounted to 100 dollars a barrel on the global market and given the current situation it is too high, considers Rex Tillerson, CEO of the oil giant Exxon-Mobil.

Probe launched in violations of Latvia Statoil, Neste Latvia and Lukoil Baltic R

Latvia Competition Council has launched a probe in alleged violations of the Competition Law in the activities of SIA Latvia Statoil, SIA Neste Latvia and SIA Lukoil Baltic R activities.

Portugal to receive 78 billion euro bailout

European Finance Ministers agreed on Monday, May 16, to grant Portugal three-year 78-billion-euro EU-IMF loan.

Magazine EMEA Finance recognizes SEB as best bank in Latvia

In its annual award Europe Banking Awards 2010, the international financial magazine EMEA Finance has recognized SEB as the best bank in Latvia. EMEA Finance experts granted the highest assessment to SEB bank among the Latvian commercial banks for the third consecutive year.

Number of economically-active farms shrinks 26.5%

Last year, 83.1 thousand economically-active farms in Latvia managed 2 807.1 thousand ha of land, of which 1 787.2 thousand ha were utilised agricultural area.

Economist: current account could be balanced this year

Surging foreign investors' profit is reducing the current account balance more and more, as basically it is re-invested in companies. Moreover, new investments in companies are crucial for them to boost production capacity, thus the total of direct foreign investments keeps growing.

Moody's keeps negative outlook for Baltic banking system

Moody's Investors Service has announced it is keeping negative outlook for the Baltic banking system, pointing out recent economic improvements still do not do away with the challenges.

Expert: Russia’s influence is exaggerated

Russia's huge influence is overstated; moreover, it is rather expected to decline, considering changes in the gas market, believes Robert Nurick, the American expert on Russian and East European matters.

Neste Oil: Baltics hit fuel price ceiling

High oil prices of early this year added to dropping fuel consumption in all three Baltic states, says Panu Kopra, Vice President of Neste Oil Retail.

Lukoil Baltija R boss Kogan dies

Haim Kogan, deputy Board Chairman of SIA Lukoil Baltija R has died. He had been in the post since 2005.

Saab signs agreement with Chinese partner

Swedish car maker Saab announces it has concluded a new agreement with Chinese company Pang Da Automobile, according to its Dutch owner Spyker.

Fierce competition among applicants for executive and blue-collar jobs

The Estonian labour market is currently experiencing sharp competition among executives, as well as unskilled workers – most of the officially-registered jobless persons qualify particularly for these vacancies.