International Internet Magazine. Baltic States news & analytics
Thursday, 23.05.2013, 07:40
In May 2012 industrial production output1 (at current prices) comprised LVL 450.9 million, according to the data of the Central Statistical Bureau. In comparison with April 2012, industrial production output in May 2012 has increased by 1.9%, but compared to May 2011, the output has grown by 6%.
Keyword tags: Analytics, Good for Business, Industry, Latvia, Markets and Companies
The number of tourists visiting Riga increased in May 2012 as compared to May 2011, according to the Riga Tourism Development Bureau's data.
In May 2012, retail trade turnover in Latvia increased by 7.4% from May 2011, the second largest increase in the European Union, according to the latest data from the EU's statistical office Eurostat. Estonia recorded the steepest increase in retail trade turnover in May – 10.4%, followed by Latvia, Romania – 5.9%, and Lithuania – 5.2%.
"The euro area rules must, once again, become mandatory for everyone to observe, as non-compliance with these rules has led several countries to a cul-de-sac and made the euro area face complicated problems," said the President, Toomas Hendrik Ilves, who was in Berlin for a working visit, in an economic presentation entitled "Frugality or Growth", which he gave at the Humboldt-Viadrina School of Governance yesterday, the president's chancellery said.
ABB Group, one of the leading power and automation technologies companies which has been in Lithuania for 20 years now, is expending its business and plans to open up an engineering center in the country.
Today, the Anti-Counterfeiting Trade Agreement (ACTA) was rejected by the European Parliament, and hence cannot become law in the European Union, LETA was informed by European Parliament Information Center representative Iveta Kelpe.
Competition Council head: penalties for violations of competition regulations will be stepped up in Latvia
The current applicable penalties are not harsh enough to prevent violations of competition regulations, therefore the Competition Council will step up the penalties for such violations, as the Competition Council's new head Skaidrite Abrama says in an interview with Nozare.lv business portal.