Reval Hotels
Pietari Express
 Observer Latvija SIA

WEEK 43rd 2004

Friday, the 22nd of October, 2004

Threat of liquidation to enterprises
If 986 Latvian companies, which constitute 72% of all the state and self-governmental enterprises, do not re-register until October 31, 2004, they could be forcedly liquidated. The capital share of state and local self-governments in these companies exceeds EUR 233.38 million. The biggest problems are in medicine sphere, where 141 companies have not yet begun their re-registration.
Dienas Bizness

BFDF is the first one to receive European money
The company BFDF was the first one to conclude the agreement with Latvian Investment and Development Agency on receiving the EU finances. The company, which trades furniture, will use the resources for the participation in the international exhibition in Germany. The total cost of the project is EUR 26,587, but EUR 19,202 will be allocated from the EU fund.
Dienas Bizness

Thursday, the 21st of October, 2004

Record of producer prices growth
In September 2004 producer prices in Latvia increased by 11% in industrial sector in comparison with the same month of the previous year. Comparing to August 2004, producer prices grew by 0.4%, according to the Central Statistical Bureau. The metal prices experienced the biggest growth during the year, by 45.2%, while production of chemical substances became by 0.8% cheaper.
Dienas Bizness

Wednesday, the 20th of October, 2004

Expenses to grow further
The expenses of the construction and renovation works grew approximately by 9% in the third quarter of the current year. It is the biggest growth since 1998. According to the Latvian Statistical Bureau, due to the increase in prices of steel pipes in the global market the building of water pipes in Latvia became more expensive, by 18.2%. The expenses for the construction of transport objects increased by 8.6%, of living houses by 7.2%, and for renovation of public buildings by 8.2%. Therefore, the cost of flats and houses could grow, too. Besides, the companies could face the lack of finances for finishing the projects.
Kommersant Baltic Daily

Tuesday, the 19th of October 2004

By part of per cent more of economically active enterprises
In the beginning of September of the current year in Latvia were 44,767 economically active enterprises. 40.4% of them function in retail and wholesale trade, as well as in cars and consumer electronics repair sector. Approximately 16.8% are engaged in real estate sphere, and 12.6% in industrial production. 75% of the companies are small ones, where less than 10 people work.
Kommersant Baltic Daily

World Bank: Latvian economy is over-heated
Many features are the evidences of the over-heating of Latvian economy, according to the main Central Europe Division economist of the World Bank, Thomas Larsen. At the same time he stresses that it is still possible to avoid the crisis. Latvian Bank confirms that the risk of over-heating increases due to the growth in crediting. Larsen points out that the swift growth of national economy, which exceeds 5% a year, the long-term increase in domestic trade and import, which exceeds export in two times, as well as the high inflation level, confirm the fact of the over-heating. He thinks that the way out could be found by reducing the crediting incomes.

Monday, the 18th of October, 2004

Export increased by 6.8% and import by 23.5%
During eight months of 2004 the amount of Latvian goods export constituted EUR 2.002 billion, which is by 26.8% more than in the same period of 2003. Import grew by 23.5% and reached EUR 3.45 billion. The main export partners of Latvia are Great Britain, Germany and Sweden. In import sphere the most active cooperation goes on with Lithuania, Germany and Russia.
Bizness & Baltija

Incomes of mobile operators reduce
During the last year the incomes of Latvian mobile operators from one client in average reduced by 11-14%. It could happen partly because of lowering prices of telecommunication services, as well as marketing actions, which attract people with lower incomes. At present the mobile operator LMT has 719,104 clients; their number increased by 18% during 10 months. The number of Tele 2 clients was 694,000 in the beginning of the current year, and the company occupied 54% of the market. For increasing their incomes the operators have to invest in the development of new services. The third mobile operator, Triatel, which plans to begin its work soon, could also have a negative influence on Tele 2 and LMT incomes.
Bizness & Baltija

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