Reval Hotels
Pietari Express
 Observer Latvija SIA

WEEK 27.2005

Friday, the 8th of July, 2005

Penalty for resources exceeding the normative level
The penalty, which amounts to EUR 10-20 million, could be applied to Latvia, because before the accession into the EU large resources of food were collected in Latvia. According to the Latvian Minister of Agriculture, Martins Roze, sugar is not included in these resources. The EC has already expressed its position towards large amount of collected sugar. The EC believes that Latvia will use these additional resources for selling for a higher price within the EU Market.

Thursday, the 7th of July, 2005

Inflation to be higher than it was expected
The bank SEB Unibanka increased the initial year’s inflation forecast for Latvia from 5.6%-5.8% to 5.8%-6%. According to its research, in 2005 the average inflation could be 6%, in 2006 4.5%, and in 2007 3.7%. It is much more than 2%, which are acceptable for the introduction of euro. The present growth in prices more and more puts Latvia off its aim to introduce euro in 2008. However, there are chances that the Central European Bank would meet the wishes of Latvia and other new EU-states.
Kommersant Baltic Daily

Wednesday, the 6th of July, 2005

Trade agiotage in the capital
In June 2005 trade premises were among the most demanded properties in the commercial real estate sector in Riga. The Lithuanian retail trade chain Iki, German supermarket chain Lidl, Lithuanian VP Market, Rimi and one large European operator, which does not want to reveal its name, were looking for trade premises. As for offices, the most popular were B class bureaus, 300-500 square metres. Due to the comparatively low price, EUR 9 per meter, demand exceeded offer.
Biznes & Baltija

Tuesday, the 5th of July, 2005

Have to provide sunglasses
If the employees work under the direct influence of sun rays, the employers have to ensure new labour protection measures, according to the draft directive, prepared by the EP. The employers will have to provide sunglasses, caps, gloves and if necessary, some hours of rest in the hottest time of the day for their workers. The directive could influence wood processing industry, construction industry, roads construction and agriculture.
Dienas Bizness

Monday, the 4th of July, 2005

BankServiss passes to the Americans
Soon the international company First Data Corporation will become the owner of the Norwegian company EuroProcessing International, which part is Latvian BankServiss. Most probably the latter will change its name, however, no global changes in its work are expected. The marketing director of BankServiss, Liga Krapane, said that afterwards the company will be able to offer new services and products.
Kommersant Baltic Dail

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