Reval Hotels
Pietari Express
 Observer Latvija SIA

WEEK 5.2005

Friday, the 4th of February, 2005

Will loan 285 million euros
Some of Latvian banks plan to devote much attention to financing medium and small enterprises. Their loans could amount to EUR 285.71 million. Nord/LB could provide EUR 28.57 million. Its president, Andris Ozolins, believes that small and medium companies financing market has a great potential, and in the nearest 2-3 years it will grow significantly. The member of Hansabanka’s board, Maris Mancinskis, thinks that these enterprises financing portfolio could increase by more than EUR 85.71 million. Unibanka could increase the financing by EUR 200 million.
Dienas Bizness

Thursday, the 3rd of February, 2005

Products to become more expensive
The head of Agricultural market assistance centre, Inguna Gulbe, forecasts that food products in Latvia will be becoming more expensive during the next couple of years. This is because at present they are baselessly cheap in comparison with food in other EU countries. The only reason for some products to become cheaper could be the competition increase.
Kommersant Baltic Daily

Wednesday, the 2nd of February, 2005

Prepare railway for privatization
Latvian Minister of Transport, Ainars Slesers, said that soon restructurization of the state enterprise Latvijas dzelzcels would begin. It will be divided into three companies. One of them will be responsible for infrastructure, another one for passengers transportation, and the third one for cargo transportation. This is obvious that the third company will be the most attractive one to privatize. Slesers said that at present cargo transportations can not continue to endow unprofitable passengers transportations, otherwise there would be a crisis in this sphere. The changes are necessary because at present, taking into consideration the current situation, Latvijas Dzelzcels loses to its competitors.
Kommersant Baltic Daily

Tuesday, the 1st of February 2005

Ports for Byelorussians
The new Ambassador of Belarus to Latvia, Maira Mora, visited Ventspils and Liepaja and met with the representatives of the companies, which collaborate with Byelorussian enterprises. She believes that the cooperation between two countries should develop. At present Mora wishes to know how much interest do Latvian businessmen have towards the cooperation with their Byelorussian colleagues. One of her first plans is to conduct Liepaja’s Days in Minsk, Belarus.

Monday, the 31st of January 2005

Hansabanka in the name of reputation limits cooperation with several Latvian banks
Hansabanka limited its cooperation with some of Latvian banks by closing their correspondent accounts. The bank denied that it could be connected with money laundering issue, which was activated by the Latvian government the last week. However, Hansabanka admits that it was necessary in order to prevent threat to bank’s reputation. The head of Hansabanka’s board, Ingrida Bluma, said that maintenance of correspondent relations requires additional resources for checking the suspicious deals of other banks.

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