Reval Hotels
Pietari Express
 Observer Latvija SIA

WEEK 29.2005

Thursday, the 21st of July, 2005

Rest to become more expensive
Tourism operators warn that the trips offered by tourism agencies could become more expensive, because they cannot compensate the increase in fuel price from their own incomes. Those agencies, which offer journeys to Southern countries, announced that starting from this week this service is by EUR 14.28 more expensive than before. The air company Latcharter, the tourism operators Novatours, Tez Tours and some other increased prices. Only Domina Travel Latvia has not yet done it, as this is its special prices policy, which tries to protect consumers from unpleasant surprises in the middle of tourism season.
Dienas Bizness

Wednesday, the 20th of July, 2005

The highest inflation nearly during one year
In June 2005 Latvia had the highest index of year’s inflation among all the EU member-states. According to Eurostat data, in comparison with the same month of the previous year, the prices in Latvia grew by 6.6%. As for other EU-states, the inflation was quite high in Hungary, 3.7%, Estonia, 3.2%, Slovakia, 2.5%, and Malta, 2.1%. Growth in petrol, black oil and tobacco goods prices promoted inflation more than other factors.
Dienas Bizness

Credits for EUR 2.42 billion issued
Private persons crediting market in Latvia continues to develop swiftly. The volume of credits issued to the private persons increased more than in 1.5 times and reached EUR 2.42 billion. More than 60% of these credits are mortgage credits, and 17.4% are consumers credits. The experts note that such speed of growth is connected with two main factors: growing demand for mortgage crediting and the legalization of the economy.
Kommersant Baltic Daily

Tuesday, the 19th of July, 2005

Businessmen to be saved from extra expenses
Starting from January 1, 2007, Latvian employers will be freed of additional expenses for investigating the accidents at work, which caused serious injuries or death of employee. These expenses will be covered from the state budget, according to the EU requirements. According to the data of Latvian Employers Confederation, Latvian companies spent EUR 128.57 thousand per year for these purposes.
Biznes & Baltija

Monday, the 18th of July, 2005

Suitors appear
Some changes could take place in Latvian banking market. In the near future some of the banks might be sold. According to unofficial information, there is big interest about Latvijas Krajbanka, especially from foreign banks side. Lithuanian Snoras Bank, which just has entered the Latvian market, conducts negotiations with two Latvian banks about buying more than 50% of their shares. It could happen in the second half of 2005, but the names of these banks are not revealed.
Dienas Bizness

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