|Latvia Business News: Archive 2003-2006
Wednesday, 30th of August 2006
Price rise upsets entrepreneurs
The Latvian entrepreneurs are upset due to the expected rise in Compulsory Third Party Liability insurance premiums for vehicles. The entrepreneurs comment that the rise in premiums will especially affect transport companies who will need to increase the tariffs for their services. However, they hope that this will mean a higher standard of services from the insurance companies.
The profit surprises
The company Lursoft, which processes the database of the Register of Enterprises of the Republic of Latvia, informed that according to the annul reports of 15,000 registered enterprises, in 2005 the total income of enterprises increased by 19.2 per cent compared to 2004, but in 2004 compared to 2003 by 17.2 per cent. The net profit of the registered enterprises in the respective years increased by 64.8 per cent, and 9.2 per cent. Rolands Feldmanis, SEB Vilfima consultant, thinks that the increase in net profit in 2005 is an inevitable consequence of Latvia becoming member state of the European Union in 2004.
Might reduce next year
In 2007 in Latvia the State entrepreneurial risk fee will be EUR 0.35 per employee per month. The collected risk fee is used to control insolvency processes, in the result of which the processing of insolvency cases fasten, control over insolvency administrators is provided, and interests of creditors are maintained. Employers are not satisfied with the volume of the entrepreneurial risk fee because they believe a serious amount of money has already been accumulated from these risk fees. Latvian Prime Minister, Aigars Kalvitis, said that if next year the accumulated money in the Employee Claims Guarantee Fund will not decrease, the entrepreneurial risk fee will be reduced. However, the newspaper Dienas Bizness shows, that the volume of accumulated money in the Fund will decrease in 2007 due to several actions to which the accumulated money will be allocated.
Monday, 28th of August 2006
Almost third of vacancies in Riga offer salaries lower than the living wage
According to the Central Statistical Bureau, in Latvia in July the living wage was EUR 168. The Latvian State Employment Agency informed that 29 per cent of employers offer salaries, which are lower than the living wage; 34 per cent offer salaries from EUR 284 to 426; 16 per cent from EUR 426 to 568; 6 per cent from EUR 568 to 710; and only 5 per cent over EUR 710.
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