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WEEK 51th 2004

Friday, the 17th of December, 2004

Certificates are limited in rights
Latvian Parliament passed the amendments on privatization certificates, according to which the shares in state or local authorities companies could be bought only for money, not for certificates. It was done in order to prevent buying the significant number of shares of the enterprises for little sums. The Minister of Economy, Krisjanis Karins, said that the state should have the maximal profit from selling such large companies as Lattelekom and Latvijas Mobilais Telefons.
Kommersant Baltic Daily

Thursday, the 16th of December, 2004

Export grows faster than import
Latvian export continues to grow faster than import. In January-October 2004 in comparison with the same period of the previous year the export of machines, mechanisms and electrical goods grew by 44.8%, of metals and metal goods by 34%. The import of mineral products grew by 44.8%, of machines and mechanisms by 18.8%. Experts note that growth in prices, as well as fluctuations in exchange, influenced the increase in foreign trade.
Dienas Bizness

Wednesday, the 15th of December, 2004

172 companies to be liquidated
17.6% of state and local authorities enterprises in Latvia, or 172 companies, which did not apply for re-registration, are considered to be liquidated. The most part of them function in catering, trade, health protection and entertainment spheres. The main state notary of the Enterprises Register, Janis Endzins, said that most probably the majority of these companies had not been working for a long time. In total 381 companies re-registered and 269 applied for re-registration.
Dienas Bizness

Tuesday, the 14th of December 2004

Revolution in transit business took place in Ventspils; Lembergs is angry
A kind of revolution happened within the enterprise Ventsbunkers, one of the branch companies of the holding Ventspils Nafta, in Ventspils, Latvia. The council of the firm was replaced. After the change the new council relieved the board of the company. Ventspils Mayor, Aivars Lembergs, who is also one of the shareholders of Ventsbunkers, was very angry because of these events, which clearly show the split in Ventspils business. Such a situation could be connected to Russia’s wish to renew oil transit through Ventspils.
Diena

Monday, the 13th of December 2004

Finland’s investments in firms fixed capital grow
During the year Finnish investments in fixed capital of Latvian companies grew by EUR 1.76 million. At present there are 353 Latvian enterprises with Finnish capital, and Finnish investments amount to more than LVL 98.20 million. In period from 2000 to the first half of the current year Finnish businessmen invested in Latvian firms EUR 132.79 million. At present the country is 10th largest Latvian investor. At present there is a tendency of Finnish-Estonian companies to open their branches in Latvia.
Dienas Bizness

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