Reval Hotels
Pietari Express
 Observer Latvija SIA

WEEK 12.2005

Wednesday, the 23rd of March, 2005

Liepaja is over-heated
Discount-shops little by little press out the supermarkets in Liepaja, Latvia. Economists explain it with high inflation level and groundlessly active construction of supermarkets, as well as low purchasing capacity of the population. Discount-shop Supernetto occupied a place of the supermarket Rimi. German discount-shops chain Lidl announced that it is going to build a shop in Liepaja. According to unofficial information, Citymarket, which belongs to Kesko Food, may be closed either. Specialists think that popularity of discount shops in Latvia is a logical phenomenon.
Dienas Biznes

Tuesday, the 22nd of March 2005

Attack on Lithuania
On March 22 Latvian Chamber of Entrepreneurs Working in Lithuania was founded in Riga. At present 22 companies, which work in different sectors, decided to join the new structure, among them airBaltic, Drogas, Tilde, Gutta, Grindeks, Laima, Staburadze and others. Latvian Ambassador to Lithuania, Armands Gutmanis, is the initiator of the creation of Chamber. Thanks to this structure, the companies will have new opportunities for receiving information and enlargement of their business in the neighbouring country. There are similar representative structures of other countries in Lithuania.

Monday, the 21st of March 2005

Will press debtors
Latvian Ministry of Justice prepared amendments to the law on creditors and debtors. They stipulate that creditors will be able to collect from their debtors more penal interests, 8% instead of 6%, for the delays of payments. This measure will better protect small and medium enterprises from the financial problems.
Dienas Bizness

Penalties to be stricter
In future stricter penalties will be applied to entrepreneurs for not fulfilling the requirements of the Competition Council, as well as for not submitting the necessary information in time or submitting incomplete data. According to the new rules, the penalty for juridical persons could reach EUR 14.28 thousand. The minimal sum is EUR 71.42. The penalty for private persons could be up to EUR 714.2. However, the head of the Competition Council, Peteris Vilks, said that this is a kind of preventive measure for disciplining the participants of the market.
Dienas Bizness

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