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Sunday 18.11.2018 | Name days: Doloresa, Aleksandrs

New investor emerges for airBaltic

The Latvian airline airBaltic has a potential investor – the UK-based charter company Ocean Sky Aviation Ltd. The Transport Ministry received the offer on Monday, June 27 and it will be reviewed by the Cabinet of Ministers on Tuesday, June 28.

Saab gains additional cash from selling Saab Property shares

Saab’s parent company – Swedish Automobile – has signed an agreement on selling 50.1% shares in the real estate company Saab Property for 19.5 million lats (255 million kronor), ensuring the much needed financial resources for the crisis-stricken Swedish carmaker.

Road builders’ biggest issue – unpredictable prices

Oil and other material prices are the ones most affecting road construction costs in Latvia, while the inability to predict price changes and fluctuations is the biggest issue for road builders, indicates Gints Karols, board member of SIA Saldus ceļinieks.

Denmark reports the highest, while Bulgaria – the lowest prices in EU

In 2010, the price level differed throughout the EU member states. In Latvia (69%) it was mainly below the average (100%), attaining it only in the clothing industry, according to the EU central statistical office Eurostat data.

Japan’s retail drop – smaller than forecast

Although after the earthquake and tsunami wave, people in Japan refrained from excessive spending, retail sales edged down 1.3% in May 2011, which is less than projected, according to the latest government data.

Brent crude drops amongst prevailing Greek crisis

The ongoing European debt crisis is still affecting Brent crude price drop, sliding down to 105 US dollars per barrel on Tuesday, June 28, morning.

Latvian State Forests profit hit 78.32 million lats last year

In 2010, AS Latvian State Forests turnover reached 215.97 million lats, while profit – 78.32 million lats, according to the company's annual report data.

Transport Minister: airBaltic lost 13 million lats in five months

Over the five months of 2011, the Latvian airline airBaltic's losses amounted to 13 million lats, points out Uldis Augulis, the Latvian Transport Minister.

Majority of Germans distrusting euro

Over two-thirds of Germans no longer feel confidence in the euro after the Greek crisis, according to the findings of sociological studies.

British American Tobacco Latvia posted 2.1 million lats loses in 2010

Last year, the tobacco company SIA British American Tobacco Latvia losses amounted to 2.1 million lats, according to the Registry of Enterprises servicing company SIA Lursoft information.

Analysts: Tencent attempts to become Chinese Facebook and Twitter

The world's third largest Internet company Tencent Holdings is aiming to become China's Facebook, Twitter and Google.

EU reports massive investment drop

Due to the economic crisis, last year saw a large-scale drop in the European Union's foreign direct investments, overall plummeting 62% throughout the world, from 281 billion euro in 2009 to 107 billion in 2010.

Nokia and Siemens fail to attract investors

The technology companies Nokia Corp and Siemens AG have failed to reach an agreement with investors on selling controlling stake in the so far unprofitable joint venture Nokia Siemens Network.

World Bank: Russia in the face of Greece’s crisis

Russia's economy is based on oil prices, rather than sound macroeconomic policy. If the government does not seriously consider spending cuts, after 20 years Russia will follow Greece’s path, shouldering a massive public debt burden, indicates Sergei Ulatov, economist at the World Bank.

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