Jul 28, 2010 - Insolvency law may deepen financial crisis...
RIGA - The parliament passed the controversial Insolvency law, which is aimed to help borrowers who find themselves in trouble with their finances. Banks are extremely unhappy with the new regulation and promise to raise interest rates for the new customers in order to cover expected losses. This could slow lending down even more in Latvia and make recovery of the economy more complicated, bank...
Jul 21, 2010 - Gas tax delayed...
RIGA - The introduction of excise tax on natural gas in Latvia must be put off until later, says the Public Utilities Commission Council Chairwoman Valentina Andrejeva in an interview with LNT television on July 20, reports news agency LETA. Saeima’s Economic, Agricultural, Environmental and Regional Policy Committee decided last week to add to the Saeima amendments to the law on excise t...
Jul 21, 2010 - Latvian free press dying off...
RIGA - Ahead of the national elections, scheduled for this fall, the most influential Latvian daily newspaper Diena is now headed by politically motivated persons following personnel changes. This could be the beginning of the end for the free press in the country, say analysts and established journalists.
Since Latvia’s independence was restored in 1990, Diena had been the most power...
Jul 14, 2010 - Pabriks denied in OSCE challenge...
On July 6, 2010 in Oslo, Spencer Oliver was re-elected as Secretary General of the Organization for Security and Co-operation in Europe (OSCE) Parliamentary Assembly (PA) with more than 95 percent of the votes. The OSCE was developed as a strictly non-career organization in which elected members may not exceed 10 years work in one position. Oliver, a U.S. representative, has been Secretary Gene...
Jul 07, 2010 - Lembergs brings ‘experience’ to Green Party ticke...
RIGA - The board of the Latvian Green Party at a meeting on July 5 officially nominated Ventspils Mayor Aivars Lembergs as their choice for the next prime minister, reports news agency LETA. Lembergs told reporters afterwards that he has not made a decision yet on whether he will run in the October Saeima elections. “My character may not exactly be suited for parliament work, but more for...
Jun 30, 2010 - Budget prescription calls for more pain...
From wire reports, RIGA
In order to achieve consolidation of next year’s budget by 400 million lats (571.4 million euros), cuts will be necessary in the social sector, said IMF and World Bank consultant Janis Platais in an interview with the business daily Dienas Bizness, reports Nozare.lv. “I do not think it will be possible to get by without spending cuts in the social sector...
Jun 16, 2010 - Political parties to be financed by taxpayers...
RIGA - Latvia’s most popular political parties will be financed from the state budget from 2012. Each party which wins at least 2 percent of votes in the parliamentary elections will receive 0.5 lats (0.71 euros) for each supporter every year till the next elections. The measure, which is supposed to restore party independence, will only give politicians extra pin money, said analysts.
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Jun 10, 2010 - Finnish business positive on Latvia...
RIGA - Creativity and innovation is the field in which Finland is a leader on a global level, and is also an example to Latvia, said President Valdis Zatlers on June 7 at the opening of a Latvian-Finnish business forum in Riga, reports news agency LETA. “Creativity, boldness and innovation - these are the keys to sustainable development. I am sure that this state visit will provide a new ...