International Internet Magazine. Baltic States news & analytics
Monday, 29.08.2016, 08:22
Arnis Riekstins, a co-owner of the Mikrotikls company, earned EUR 30.15 mln last year becoming the top earner in Latvia in 2015, according to a list of Latvia's biggest earners, losers, and dividend recipients last year, compiled by Lursoft, business magazine Kapitals, and journalists Lato Lapsa and Kristine Jancevska.
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Over the last few years, the information and communications technologies sector (ICT) has been among those with fastest growth. It is no secret that in recent years rapid expansion of different ICT services could be observed in Latvia: programming, data storage, development of mobile applications, development of various complex ICT solutions, etc. However, unlike retail trade or manufacturing, the sector usually is not in the spotlight of economic analysts and policy makers. This can be explained by the size of the sector – ICT only accounts for about 5% of the total value added, even though this level is close to the European Union's average. Nevertheless, the success of the sector should be noted: it is one of the fastest growing, with high productivity levels, high average salary, implementation of latest technologies, and other positive features.
Finland's reinforced concrete connections manufacturer Peikko is investing more than 9 million euros in a new beam factory in Lithuania's second-largest city Kaunas, informs LETA/BNS.
Latvian architect and entrepreneur Uldis Pilens has taken 16th spot on Thinkers 20: The Brightest Business Minds in Northern Europe, drawn up by the Nordic Business Forum.
According to Statistics Estonia, in July 2016, the producer price index of industrial output changed by -0.3% compared to June 2016 and by -1.0% compared to July 2015.
A new workwear plant of Finland's Lindstrom Prodem company will be built in Tukums by early 2017, the company’s representatives informed LETA.
In the last fiscal year, which lasted from July 1, 2015 to June 30, 2016, Latvian telecommunication equipment developer and producer SAF Tehnika generated EUR 13.707 million in preliminary consolidated turnover, up 6.6 percent year-on-year, while the group's profit contracted 27.6 percent to EUR 925,900, according to the company's interim report to Nasdaq Riga.