Baltic Business

WEEK 21st 2003

Friday, 23th of May, 2003

Latvijas Gaze- 59th in Eastern Europe
According to information compiled by newspaper Financial Times, there are 6 companies in the Baltic States, which have been rated in the top 100 companies in the Eastern Europe. Estonian Hansapank is the largest in the Baltic States, and the 25th in the Eastern Europe. It has been evaluated for USD 1.348 billion market capital.
(Biznes & Baltija)

Thursday, 22th of May, 2003

Entrepreneurs rating banks
According to the polling of Baltijas Datu Nams, small and medium-size business entrepreneurs have rated Hansabanka's services the highest among all Latvian banks. In ten-point scale, Hansabanka received a rating of 8.66 points, which is 0.18 points more than previous year. 36% of respondents of the poll were customers of Hansabanka. Krajbanka was placed as the second, receiving 8.47 points, whereas Unibanka was placed the third- 8.04 points, which is 0.13 points less than last year. The most rapid fall of rating was observed for Parekss banka, which received 7.7 points this year, which is 0.58 points less than previous year.
(Biznes & Baltija)

Wednesday, 21th of May, 2003

Proceed guaranteeing credits
Starting June 1, the Latvian Guarantee Agency will proceed its work, and intends to guarantee credits for over 100 small and medium-size businesses. The total amount of guarantees the agency has is LVL 750,000. The Minister of Economy, Juris Lujans, says that new small and medium-size business support instruments need to be invented, such as Risk Investment Fund and Latvia's Development Agency.
(Dienas Bizness)

Tuesday, 20th of May, 2003

Government will raise minimal salaries
The minimal salary will be raised by 50% of the average monthly salary of the last year during the time period of seven years. The minimal salary in 2004 will increase by 14.3%, reaching LVL 80 instead of LVL 70. In the nearest years the minimal salary will increase by 9.4% – 10.2% in average.
Dienas Bizness

Monday, 19th of May, 2003

The auction of Latvijas Krajbanka
On May 17, the auction of the state owned 25.01% of Latvijas Krajbanka shares took place. Since the offshore company Doxa Fund Limited, which is registered in Virgin Islands, was the only participant of the auction, it acquired the shares for the initial price of LVL 4.122 million. (Dienas Bizness)

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