Friday, the 18th of March, 2005
This year to reach 2%
Despite the protests of the entrepreneurs, the new law on bio-fuel stipulates that bio-fuel should constitute 2% of the total fuel volume. Latvian businessmen believe that the government is too diligent in fulfilling the EU requirements. However, the politicians stress that bio-fuel should constitute 5.75% by 2010. The municipalities will have to stimulate using bio-fuel and create favourable conditions for producing it.
Wednesday, the 16th of March 2005
Postpone companies privatization
States shares in the telecommunication companies Lattelekom and Latvijas Mobilais Telefons, as well as in airBaltic and heating supply enterprise Rigas Siltums will not be privatized for some time. According to the Latvian Minister of Economy, Krisjanis Karins, at present the situation is not the best for selling these companies, because there are many uncertainties in telecommunication and air transport sphere as well.
Tuesday, the 15th of March 2005
Profit of Latvian banks grows
In two first months of 2005 Latvian banks earned EUR 36.71 million, which is by 61.6% or EUR 14 million more than in the same period of 2004. In February their profit increased by EUR 17.14 million. At present there are 22 banks in Latvia, as well as a subsidiary of a foreign bank.
Capital repair to ES funds system
In order to obviate various difficulties in acquisition of the EU structural funds, a number of amendments to the corresponding laws were worked out. According to them, the procedure of receiving money from the EU funds will be simplified. The relations between the Latvian Ministry of Finance, which is responsible for the acquisition of the funds, and other involved institutions, will be finally put in order. Some changes refer to the definite programs, for example, modernization of infrastructure. Besides it, the next year the finances in the structural funds budget will be redistributed.
Kommersant Baltic Daily
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