||WEEK 46th 2004
Friday, the 12th of November, 2004
The small ones are even threatened by closing
In January the period, during which Latvian enterprises had to fix their work conditions according to the EU requirements, is coming to end. The most part of small enterprises could not introduce the new rules due to the high expenses. As a result, they will have to pay penalties up to EUR 1,479, but in some cases the premises could even be closed. The requirements stipulate certain conditions, which refer to microclimate at work, ventilation, the possible level of noise, light, evacuation plan, wardrobes and work with computers. The specialists think that work with computers could bring the biggest problems.
Wednesday, the 10th of November, 2004
The worst is LVL 1.0.71
The official rate of lats pegging to euro could be LVL 0.685 (EUR 1.013), which is nearly the same as now. However, some of Latvian experts forecast that it could be LVL 0.71 (EUR 1.05). At present the tendency of growing of euro is taking place. Though, some of the financial specialists think that in the end of the year its value could go down.
Tuesday, the 9th of November 2004
Development of industry continues to increase
In September 2004 industrial production output increased by 3.4%. According to the data of the Central Statistical Bureau, the growth is especially significant in extractive industry, 24%, production of electric machines, 22.8%, furniture, 16.9%, and chemical substances, 13%. The increase was also observed in processing industry, 2.8%, as well as electricity, gas and water supply sector, 4.3%.
Shock begins to disappear
In October 2004 the prices grew by 7.2% in average in comparison with the same month of 2003. Medical services, food and fuel were becoming more expensive in the fastest way: 14.9%, 10.9% and 10.5% respectively. In comparison with September 2004, the inflation was 0.4%; it means that the speed of the increase in prices slightly slowed down.
Monday, the 8th of November 2004
It is profitable today to invest in Byelorussia
Byelorussian officials are sure that it is more profitable for Latvian businessmen to invest in Byelorussia than in Estonia or Lithuania. They invite Latvians to activate the cooperation between the states. Byelorussia is constantly trying to improve business climate within the country. Investors have the same rights as local entrepreneurs. Besides, they have states support, as well as tax and customs duty benefits. Foreign investors do not have to pay corporate income tax for three years, they have a right to buy shares, which belong to the state, and a number of other advantages. There are six free economic zones in Byelorussia, which were created for attracting the foreign capital.
Bizness & Baltija
Creditors turn to firm measures
Most probably, the companies, which do not go through the re-registration process, will have to make full pre-payments to their suppliers. The banks also send reminders about re-registration to their clients. Many large creditors, wholesale traders and distributors found themselves in a difficult situation. It is difficult for them to distinguish a reliable partner, which postpones re-registration, from the malicious swindler, who transfers its activities to another company and leaves the debts to the present one, which wont re-register and should stop its work.
Kommersant Baltic Daily
Baltic Weekly MonitorA