|WEEK 48th 2004
Friday, the 26th of November, 2004
Enterprises die like flies
During approximately 11 months of the current year 4,233 companies were liquidated in Latvia. This is by 41.8% more than during the whole 2003, according to Lursoft data. It is expected that the number of liquidated enterprises will grow until the end of the reform of the Commercial Law. 2004 is the last year of the reform, during which the owners of the firms should decide whether to continue their activities and re-register or to liquidatebg enterprises.
Thursday, the 25th of November, 2004
Consolidation is taking place
Polygraphic company Jelgavas Tipografija bought 51% of capital shares of the publishing house Balta Eko, which issues calendars. The purchase was made according to the plans of Jelgavas Tipografija, which is going to begin publishing books next year. The company wishes to take 25% of this market in Latvia. In its turn, Balta Eko began looking for business partners some four years ago. Its director, Janis Caune, said that now due to the partnership the expenses of the firm would be lower than earlier.
Wednesday, the 24th of November, 2004
Increase in prices by 10%
In October 2004 producer prices in Latvia grew by 0.6% in comparison with September of the current year. During the year this index increased by 10.4%, according to the data of the Central Statistical Bureau. The prices in metals production and metal goods production grew faster than in other sectors, by 46.3% and 19.4% accordingly during the year. The price of timber and wooden goods also increased, by 12.8% during the year.
Tuesday, the 23rd of November 2004
Exceed 100 lats
In October 2004 the value of minimal living wage in Latvia increased by 6% in comparison with the same month of the previous year and reached EUR 153.84. The minimal salary in the country is EUR 123. The most part of the minimal living wage is spent for buying non-food products. Alcohol, tobacco products and luxury goods are not included in consumers living wage.
Convince us by prices!
Last week a delegation of Latvian entrepreneurs visited St.-Petersburg in order to meet their colleagues and find business partners. The representatives of the administration of the Russian President, city administration, districts administrations, state and private companies took part in the event. At present the Russian businessmen do not have clear ideas on Latvian economy. However, they believe that the country is very valuable for Europe as a bridge to Russia. The Russian side is interested in joint high technological projects, as well as in attracting the builders from Latvia. Russian businessmen also stressed that one of the advantages of the cooperation with Latvia could be lower prices for goods and services. At present the well-developed sector is trade partnership.
Kommersant Baltic Daily
Monday, the 22nd of November 2004
EUR 54 million are available
Latvia and Norway signed a memorandum of understanding on introducing the bilateral financial instrument of Norwegian government in Latvia. It stipulates to allocate to Latvia as a new EU-state financial help, which amounts to EUR 34.02 million. This money should be provided in five years for implementation of different projects. In addition the financial instrument of European Economic Zone will be introduced in Latvia, too. As a result, the country will receive EUR 19.74 million.
Everyone to have an apple-tree
Latvian ex-PMs, Einars Repse and Andris Skele, received the awards for their outstanding contribution in Latvian economy from the Economists Association 2010. The award is made in a form of a miniature apple-tree. Repse was awarded for the introduction of Latvian currency, lat, in 1993. In his turn, Skele received the prize for conducting the programme of reforms during the crisis years, 1996-1997, and his philosophy of budget entailing no deficit.
Baltic Weekly MonitorA