http://www.baltic-course.com/eng/ The Baltic Course - International Internet Magazine. Baltic States News & Analysis, Baltic market reviews eng Fri, 03 Jul 2009 05:39:50 +0300 Baltic Course, The baltic-course@baltic-course.com dmitrijs@mansbirojs.lv http://www.baltic-course.com/eng/baltic_states/?doc=15346 European Commission (EC) today, on July 2. recommended that the Council set the year 2012 as the deadline for Latvia to reduce its budget deficit below 3% of gross domestic product, according to an announcement, made by the EC. Separately, the EC also decided to release the EUR 1.2 billion (LVL 0.84 billion) second installment of the European Union (EU) loan to Latvia to support the economy stabilization program. Thu, 02 Jul 2009 18:00:00 +0300 1246546800 http://www.baltic-course.com/eng/analytics/?doc=15319 According to Statistics Estonia, in May 2009 the retail sales of goods of retail trade enterprises were 4.8 billion kroons, which was by 16% smaller at constant prices compared to May of the previous year. Thu, 02 Jul 2009 17:00:00 +0300 1246543200 http://www.baltic-course.com/eng/analytics/?doc=15347 In May 2009 compared with April 2009, the industrial producer price index1 fell by 0.2% in the euro area (EA16) and by 0.4% in the EU27. In April, prices decreased by 0.9% and 1.0% respectively, Eurostat, the Statistical Office of the European Communities, reports.In May 2009 compared with May 2008, industrial producer prices dropped by 5.8% in the euro area and by 5.7% in the EU27. Thu, 02 Jul 2009 16:30:00 +0300 1246541400 http://www.baltic-course.com/eng/finances/?doc=15348 From August 2009, the unemployment insurance tax rate in Estonia will grow to 4.2%, writes the National Broadcasting/LETA. Thu, 02 Jul 2009 16:30:00 +0300 1246541400 http://www.baltic-course.com/eng/analytics/?doc=15337 The average seasonally-adjusted unemployment rate in the 27 European Union (EU) member states was 8.9% in May 2009, and the unemployment level in Latvia – 16.3%, was the second highest in the EU in May, according to latest data from the EU statistical office Eurostat. Unemployment rate ion Estonia made 15.6% and in Lithuania – 14.3%. Thu, 02 Jul 2009 16:00:00 +0300 1246539600 http://www.baltic-course.com/eng/finances/?doc=15339 If has become the leading non-life insurance company in the Baltics, working as one legal entity under one brand name, at the moment its insurance market share in the Baltic countries is 13.7%, If Latvia spokeswoman Liga Letina told LETA. Thu, 02 Jul 2009 15:00:00 +0300 1246536000 http://www.baltic-course.com/eng/Technology/?doc=15340 On Tuesday, June 30, the minister of culture Laine Jänes launched a virtual clock exactly one year before the full transfer to digital broadcasting in Estonia, writes Äripäev.ee/LETA. Thu, 02 Jul 2009 15:00:00 +0300 1246536000 http://www.baltic-course.com/eng/markets_and_companies/?doc=15350 Despite regular inspections, carried out by the State Revenue Service (SRS), merchants at the Riga Central Market continue to trespass laws and evade paying taxes, thus causing losses both to the budget of the local government of Riga and the national budget. SRS has come to such a conclusion after nearly 500 inspections carrying out over a period of one year and recording the established breaches and imposed penalties. Thu, 02 Jul 2009 15:00:00 +0300 1246536000 http://www.baltic-course.com/eng/markets_and_companies/?doc=15336 The State Revenue Service Excise Goods Department in Latvia has revoked the liquor license for the Riga Old Town "Lord Pub". Thu, 02 Jul 2009 14:30:00 +0300 1246534200 http://www.baltic-course.com/eng/markets_and_companies/?doc=15341 The leading clothes chain in the Baltic States – Apranga – managed to grow its turnover in Estonia in June 2009, writes Äripäev.ee/LETA. Thu, 02 Jul 2009 14:30:00 +0300 1246534200 http://www.baltic-course.com/eng/finances/?doc=15338 The World Bank's loan of EUR 200 million could reach Latvia by the end of the year 2009 already, as the Finance Ministry acknowledged to LETA. Thu, 02 Jul 2009 14:00:00 +0300 1246532400 http://www.baltic-course.com/eng/analytics/?doc=15315 According to Statistics Estonia, in May 2009 compared to May of the previous year, the production of industrial enterprises decreased by 30%. The steep decline in industrial production that had started at the end of the previous year continued in May. Thu, 02 Jul 2009 13:00:00 +0300 1246528800 http://www.baltic-course.com/eng/finances/?doc=15326 Large scale borrowing is not going to be possible in Latvia in the next few coming years, the Financial and Capital Market Commission (FCMC) Deputy Chairman Janis Brazovskis says in an interview in the business magazine Kapitals. Thu, 02 Jul 2009 13:00:00 +0300 1246528800 http://www.baltic-course.com/eng/forums/?doc=15322 On Thursday, July 2 two-day World Lithuanians' economy forum (PLEF) begins in the Presidential Palace in Vilnius. It is patronized by President Valdas Adamkus. Thu, 02 Jul 2009 12:30:00 +0300 1246527000 http://www.baltic-course.com/eng/finances/?doc=15327 Prime Minister of Lithuania Andrius Kubilius claims that there are no painless ways to reduce expenditures left, so now the only possibility is to consider complicate and socially delicate matters. Thu, 02 Jul 2009 12:30:00 +0300 1246527000 http://www.baltic-course.com/eng/markets_and_companies/?doc=15321 In the first half of the year 2009, the volume of Latvia-grown vegetables sold at "Maxima" supermarkets has grown significantly, compared with the first six months in 2008, according to Maxima Latvija data. Thu, 02 Jul 2009 12:00:00 +0300 1246525200 http://www.baltic-course.com/eng/finances/?doc=15325 Aizkraukles banka repaid the last part of the syndicated loan in the amount of EUR 85 million (LVL 59.738 million) on June 29, as the bank's public relations manager, Ilmars Jargans, told LETA. Thu, 02 Jul 2009 12:00:00 +0300 1246525200 http://www.baltic-course.com/eng/legislation/?doc=15330 President of Estonia Toomas Hendrik Ilves decided on Wednesday to not proclaim the changes to the Penal Code and the Citizenship Act, referring to their incompatibility with the Constitution, writes the National Broadcasting/LETA. Thu, 02 Jul 2009 12:00:00 +0300 1246525200 http://www.baltic-course.com/eng/markets_and_companies/?doc=15318 Since June 2008 when the foundation Enterprise Estonia launched its product development programme, enterprises are planning to use it to invest more than 400 million kroons, writes Äripäev.ee/LETA. Thu, 02 Jul 2009 11:10:00 +0300 1246522200 http://www.baltic-course.com/eng/legislation/?doc=15313 Yesterday, July 1, the newly-elected Riga City Council members voted Latvia's First Party/Latvia's Way Ainars Slesers in as the new deputy mayor of Riga. Thu, 02 Jul 2009 10:40:00 +0300 1246520400 http://www.baltic-course.com/eng/analytics/?doc=15310 According to statistics published by Eurostat, Estonia has the lowest capital tax rate in the EU – 10.3%, writes EPL Online/LETA. The capital tax rates are also low in Lithuania – with 12.1% and in Latvia – 14.6%. Thu, 02 Jul 2009 10:30:00 +0300 1246519800 http://www.baltic-course.com/eng/transport/?doc=15311 Russian deputy Prime Minister Sergei Ivanov stated that as soon as the terminal in Ust-Luga is complete, Russia will start cutting back the volumes of mazut transported through Estonia and in 2010 the mazut transit in Estonia will end altogether, writes Äripäev.ee/LETA. Thu, 02 Jul 2009 10:30:00 +0300 1246519800 http://www.baltic-course.com/eng/legislation/?doc=15307 Latvia's minimum wages will not be reduced in 2009 and will remain at LVL 180. Thu, 02 Jul 2009 10:00:00 +0300 1246518000 http://www.baltic-course.com/eng/legislation/?doc=15308 Yesterday, July 1, councilmen from the recently-elected Riga City Council voted in Nils Usakovs (Harmony Center) as Riga mayor. Thu, 02 Jul 2009 09:30:00 +0300 1246516200 http://www.baltic-course.com/eng/transport/?doc=15309 SSC Ferries OÜ that announced of one year's break from operating the Mõntu-Ventspils shipping route is being liquidated, writes Äripäev.ee/LETA. Thu, 02 Jul 2009 09:30:00 +0300 1246516200 http://www.baltic-course.com/eng/markets_and_companies/?doc=15300 Food and condiments producer Spilva opened a new logistics center today. As the company's board chairwoman Lolita Bemhena said during the opening ceremony, the new logistics center is "a response to the new economic situation", and was unveiled despite the crisis. Minister of Economy Artis Kampars (New Era) also took part in the ceremony. Wed, 01 Jul 2009 17:20:00 +0300 1246458000 http://www.baltic-course.com/eng/analytics/?doc=15298 The number of new enterprise registrations in Latvia decreased 41.6 percent in the first six months this year, according to a study carried out by the company Lursoft in conjunction with the Registry of Enterprises. Wed, 01 Jul 2009 17:06:00 +0300 1246457160 http://www.baltic-course.com/eng/finances/?doc=15294 The union of employees at state, municipal, business and financial institutions strongly disapproves of the government's decision to cut wages in the public sector and is preparing for protests, as the union's head, Andrejs Jirgensons, informed LETA. Wed, 01 Jul 2009 15:03:00 +0300 1246449780 http://www.baltic-course.com/eng/finances/?doc=15293 At the meetings with the Belgian Prime Minister Herman Van Rompuy and minister of finance of Belgium Didier Reynders in Brussels, Prime Minister Andrus Ansip stated that Estonia's aim is to accede to the euro area as soon as possible, writes Postimees Online/LETA. Wed, 01 Jul 2009 14:56:00 +0300 1246449360 http://www.baltic-course.com/eng/transport/?doc=15292 On Wednesday afternoon, low fares airline Ryanair and Kaunas Airport are holding a fun presentation of the new destination from Kaunas. Passengers arriving from Bremen will be welcomed with a witty theater performance. Wed, 01 Jul 2009 14:43:00 +0300 1246448580 http://www.baltic-course.com/eng/finances/?doc=15291 This year, Swedbank will close down a total of 16 bank offices in Estonia, many of them in small rural settlements, writes Postimees/LETA. On July 1, Swedbank will close two rural bank offices in the Harju County and on September 1 an office on the island of Hiiumaa, in Käina. Swedbank has in 2009 closed down bank offices in Tallinn, Tartu and in Pärnu and 71 branch offices across Estonia have remained. Wed, 01 Jul 2009 14:38:00 +0300 1246448280 http://www.baltic-course.com/eng/transport/?doc=15290 Riga International Airport has launched a private plane service, as the magazine Kapitals reports. The new project has been launched this year. At the moment, there are 20 so-called business aviation planes at the airport. However, it cannot be considered small-scale aviation, as it also includes large "Boeings". Wed, 01 Jul 2009 14:32:00 +0300 1246447920 http://www.baltic-course.com/eng/energy/?doc=15289 During the night before Wednesday, major fuel retailers in Estonia raised the prices of motor fuels by 25 cent per liter due to the increase in the value added tax, writes the National Broadcasting. A major growth in the prices of fuels is still ahead as the current prices do not reflect the increase in the excise tax rates. When will the excise tax surge be added to the prices, is not yet known. Fuel retailers state that this depends on consumption and existing stock amounts. Wed, 01 Jul 2009 14:20:00 +0300 1246447200 http://www.baltic-course.com/eng/education/?doc=15288 Latvian Ministry of Education and Science proposes to increase the teacher/students proportion so that teachers' salaries do not have to be reduced to under LVL 250 per shift, as Minister of Education and Science Tatjana Koke (Union of Greens and Farmers) said after a meeting with Prime Minister Valdis Dombrovskis (New Era) today, informs LETA. Wed, 01 Jul 2009 14:13:00 +0300 1246446780 http://www.baltic-course.com/eng/markets_and_companies/?doc=15287 The Latvian joint-stock perfumery and cosmetics producer Dzintars posted LVL 1.66 million in losses last year, according to information from the Registry of Enterprises' "Lursoft" database. Wed, 01 Jul 2009 14:09:00 +0300 1246446540 http://www.baltic-course.com/eng/transport/?doc=15286 1 july, the Latvian airline airBaltic will begin direct flights from Riga to the Swiss city of Geneva, LETA was informed by the vice-president of the airline's corporate communications, Janis Vanags. Wed, 01 Jul 2009 14:00:00 +0300 1246446000 http://www.baltic-course.com/eng/real_estate/?doc=15285 The Cabinet of Ministers yesterday decided that the Riga Acoustic Concert Hall project will be terminated, and assigned the Culture Ministry to take the necessary measures so it would not have to rent the AB jetty from the Riga City Council any longer. The government has put aside LVL 50,000 so it could pay the expenditures that are still unpaid. Wed, 01 Jul 2009 13:55:00 +0300 1246445700 http://www.baltic-course.com/eng/analytics/?doc=15270 Total retail trade turnover in Latvia in May 2009 constituted LVL 317.8 mln, according to the data of Central Statistical Bureau, of which excluding automotive fuel – LVL 262.5 mln. In January – May 2009 these indicators comprised LVL 1525.4 mln And LVL 1279.6 mln, respectively. Tue, 30 Jun 2009 20:00:00 +0300 1246381200 http://www.baltic-course.com/eng/analytics/?doc=15263 Statistics Lithuania informs that based on final data from Customs’ declarations and Intrastat reports, exports in 2008 equalled LTL 55.5 billion in terms of commodity value, while imports totalled LTL 73.0 billion. Foreign trade deficit of Lithuania made LTL 17.5 billion and was by 4.5% lower than in 2007. Statistical data on trade with EU countries were adjusted after VAT declarations’ data had been received. Tue, 30 Jun 2009 18:00:00 +0300 1246374000 http://www.baltic-course.com/eng/transport/?doc=15257 All necessary permits for flights have been granted to Star1 Airlines. As of this Friday, the Lithuanian capital-based company will restore the air bridges between Vilnius and London, Dublin and Girona (Barcelona). The Civil Aviation Administration (CAA) restored the company's carrier certificate of the air company Star1 Airlines, and the Transport Ministry granted the company new commercial flights license. Tue, 30 Jun 2009 17:10:00 +0300 1246371000 http://www.baltic-course.com/eng/transport/?doc=15269 The supervisory board of Estonian Air approved of annual report of 2008 of the company, according to which the enterprise earned a loss of 170.5 million kroons, writes Äripäev.ee/LETA. Tue, 30 Jun 2009 17:00:00 +0300 1246370400 http://www.baltic-course.com/eng/analytics/?doc=15262 The State Employment Agency's preliminary data show that unemployment level in Latvia rose to 11.5% in June, when 129,262 persons were registered as unemployed, which is 0.2%age points more than in May. Tue, 30 Jun 2009 16:00:00 +0300 1246366800 http://www.baltic-course.com/eng/finances/?doc=15268 Today, the state-owned joint-stock company Latvijas Hipoteku un zemes banka (Latvian Mortgage and Land Bank, Hipoteku banka) repaid its loan in the amount of EUR 20 million (LVL 14 million) to WestLB AG Bank, Edite Araja, the bank's public relations specialist, informed LETA. Tue, 30 Jun 2009 16:00:00 +0300 1246366800 http://www.baltic-course.com/eng/legislation/?doc=15264 Today, on June 30, the government of Latvia approved wage cuts for employees in the public sector. Tue, 30 Jun 2009 15:30:00 +0300 1246365000 http://www.baltic-course.com/eng/energy/?doc=15256 Eesti Energia sold 501 GWh of electricity on the domestic market in May 2009 – 9.6% less than during the same period of time last year, writes Postimees Online/LETA. Tue, 30 Jun 2009 15:00:00 +0300 1246363200 http://www.baltic-course.com/eng/finances/?doc=15259 New Supervisory Council of Parex banka was elected on 29 June 2009 during the annual General meeting of the Bank’s Shareholders. In accordance with the resolution made during the meeting the following members are elected to Parex banka’s Council – Andžs Ūbelis, Michael J. Bourke, Laurence Phillips Adams, Kaspars Āboliņš and Carl Hakan Kallaker. Tue, 30 Jun 2009 15:00:00 +0300 1246363200 http://www.baltic-course.com/eng/transport/?doc=15248 Internet ticket reservation portal “Bookinghouse.ee” has revealed 5 most popular European cities among its Estonian customers in the first half of 2009. The most popular destination this year was London, the second came Paris, which was followed by Amsterdam, Brussels and Dublin. Tue, 30 Jun 2009 14:00:00 +0300 1246359600 http://www.baltic-course.com/eng/energy/?doc=15251 The new natural gas supply tariffs for households will take effect tomorrow, July 1. The new regulation for the joint-stock company Latvijas Gaze (LG) envisages a cut in tariffs by 17 – 27%, as the company's press secretary Vinsents Makaris informed LETA. Tue, 30 Jun 2009 14:00:00 +0300 1246359600 http://www.baltic-course.com/eng/finances/?doc=15253 Prime Minister of Latvia Valdis Dombrovskis (New Era) has signed a decree, assigning all the ministries and their subordinate institutions to disclose the data on budget expenses and number of employees, by publishing this information on the institutions' Web sites. Tue, 30 Jun 2009 14:00:00 +0300 1246359600 http://www.baltic-course.com/eng/markets_and_companies/?doc=15241 Consolidated profit of the joint-stock construction company BMGS in 2008, after tax and minority interest, totalled LVL 2,968,363, according to the Register of Enterprises' Lursoft data. Tue, 30 Jun 2009 12:30:00 +0300 1246354200 http://www.baltic-course.com/eng/finances/?doc=15242 The Estonian central bank estimates that the State budget spending in 2009 should be cut by another 1.5 billion kroons, otherwise Estonia would not be able to meet the criteria for adopting the euro, writes Postimees Online/LETA. Tue, 30 Jun 2009 12:30:00 +0300 1246354200 http://www.baltic-course.com/eng/markets_and_companies/?doc=15243 Due to falling circulation numbers and decline in advertising revenue, newspapers in Estonia are limiting in the internet access to their articles that are published in print versions, writes the National Broadcasting/LETA. Tue, 30 Jun 2009 12:00:00 +0300 1246352400 http://www.baltic-course.com/eng/legislation/?doc=15239 President of Latvia Valdis Zatlers has promulgated the law on pensions and benefits in the period from 2009 to 2012, which stipulates reducing pensions 10%, cutting pensions for working retirees 70%, and maternity benefits 50%. Tue, 30 Jun 2009 11:30:00 +0300 1246350600 http://www.baltic-course.com/eng/transport/?doc=15240 The official dealer of "Toyota", "Lexus" and BMW cars in Latvia, the joint-stock company Wess posted LVL 41,136,846 in turnover in 2008, according to the Register of Enterprises' Lursoft data. Musa Motors Riga, the dealer of "Volvo", "Renault", and "Dacia" cars in Latvia, operated with LVL 21,459,321 turnover in 2008. Tue, 30 Jun 2009 11:30:00 +0300 1246350600 http://www.baltic-course.com/eng/energy/?doc=15236 Elering OÜ, a subsidiary of Eesti Energia and the German research company Fugro OSAE GmbH concluded a contract for researching the route for the sea cable Estlink 2, writes Postimees Online/LETA. Tue, 30 Jun 2009 11:00:00 +0300 1246348800 http://www.baltic-course.com/eng/analytics/?doc=15233 An overview compiled in the EU demonstrated that fuel prices in Estonia are among the cheapest among all Member States, writes Äripäev.ee/LETA, citing Kauppalehti. Prices in Latvia are the 20th highest and in Lithuania the 15th highest. Tue, 30 Jun 2009 10:30:00 +0300 1246347000 http://www.baltic-course.com/eng/legislation/?doc=15234 Minister of foreign affairs of Estonia Urmas Paet and ambassador of Israel to Estonia Avi Granot concluded on Monday the agreement to avoid double taxation between Estonia and Israel, writes the National Broadcasting/LETA. Tue, 30 Jun 2009 10:30:00 +0300 1246347000 http://www.baltic-course.com/eng/transport/?doc=15237 On June 29 the Roads Administration in co-operation with the Police Board of Estonia launched a traffic safety campaign, the objective of which is to remind people that speeding is not allowed, writes Postimees Online/LETA. Tue, 30 Jun 2009 10:30:00 +0300 1246347000 http://www.baltic-course.com/eng/tourism/?doc=15230 The Economy Ministry of Latvia has drawn up a plan with specific measures to combat the problem of foreign tourists being cheated by establishments in Riga. Tue, 30 Jun 2009 10:00:00 +0300 1246345200 http://www.baltic-course.com/eng/finances/?doc=15231 The Ministry of Finance of Latvia has prepared a new proposal – salaries in the public sector cut by 15% if they are below LVL 300 before taxes; those over LVL 300 – by 20%. Tue, 30 Jun 2009 10:00:00 +0300 1246345200 http://www.baltic-course.com/eng/finances/?doc=15235 The Ministry of Finance of Estonia stated that the Government that is currently in the process of planning next year's 2010 State budget has to cut at least 4.4 billion kroons, writes Postimees Online/LETA. Tue, 30 Jun 2009 10:00:00 +0300 1246345200 http://www.baltic-course.com/eng/finances/?doc=15232 By optimizing its internal operational structure and carrying out changes in personnel policy, the Interior Ministry of Latvia has in a short time been able to cut expenditures by LVL 233,100, LETA was informed by Interior Ministry spokesman Andrejs Rjabcevs. Tue, 30 Jun 2009 09:30:00 +0300 1246343400 http://www.baltic-course.com/eng/analytics/?doc=15207 Statistics Lithuania informs that construction input prices in May 2009, as compared to April, decreased by 0.5%. Over the year (May 2009, against May 2008), construction input prices decreased by 11.0%. Mon, 29 Jun 2009 17:00:00 +0300 1246284000 http://www.baltic-course.com/eng/finances/?doc=15221 The IMF and the European Central Bank note that the Baltic States should not hurry accession to the euro area, writes EPL Online/LETA, citing Reuters. Mon, 29 Jun 2009 17:00:00 +0300 1246284000 http://www.baltic-course.com/eng/legislation/?doc=15223 In a ceremony today, Riga City Council members from Harmony Center and Latvia's First Party/Latvia's Way (LPP/LC) political parties signed a new coalition agreement. Mon, 29 Jun 2009 17:00:00 +0300 1246284000 http://www.baltic-course.com/eng/transport/?doc=15213 Earlier today, President of Latvia Valdis Zatlers visited the state-owned joint-stock railroad company Latvijas Dzelzcels (Latvian Railways, LDz) and learned about its structure and problems. Mon, 29 Jun 2009 16:00:00 +0300 1246280400 http://www.baltic-course.com/eng/transport/?doc=15214 Saeima of Latvia today, June 29, approved amendments to the law on road tax, which stipulate that eurovignette will only be introduced in Latvia on January 1, 2011. Mon, 29 Jun 2009 16:00:00 +0300 1246280400 http://www.baltic-course.com/eng/analytics/?doc=15215 In June 2009, consumer sentiment in Lithuania improved compared to May and stood at minus 42, an increase of 6 points. Mon, 29 Jun 2009 16:00:00 +0300 1246280400 http://www.baltic-course.com/eng/legislation/?doc=15218 Saeima of Latvia voted Baiba Rozentale (People's Party) in office as the new health minister today. 61 Saeima members voted for Rozentale, 21 voted against and one abstained. Mon, 29 Jun 2009 16:00:00 +0300 1246280400 http://www.baltic-course.com/eng/transport/?doc=15219 8 out of 37 Latvian Post chairperson applicants have been selected for the second round by the Transport Ministry of Latvia, LETA learned. Mon, 29 Jun 2009 16:00:00 +0300 1246280400 http://www.baltic-course.com/eng/legislation/?doc=15212 Pensioners Martins Draudins, Alberts Krols and Daumants Znatnajs have submitted claims to the Constitutional Court over the decision of Saeima in Latvia to reduce pensions 10% for unemployed pensioners and 70% for pensioners who have a job, as LETA was informed by the office of the National Forces' Union party. Mon, 29 Jun 2009 15:30:00 +0300 1246278600 http://www.baltic-course.com/eng/markets_and_companies/?doc=15201 Striving to attract the attention of Lithuanian authority to the fact that taxes are destroying their business, hotels and restaurants are holding the second warning protest action "Lithuania Is Closing! We Are Returning 1000 Back" on Monday, June 29. Lights will be switched off in hotels and restaurants from 22:00 to 24:00 and in many of them music will go silent too. Mon, 29 Jun 2009 13:30:00 +0300 1246271400 http://www.baltic-course.com/eng/baltic_states/?doc=15197 If the Director of the Eurostat Economic and Regional Statistics Department Inna Steinbuka is offered to run for a European commissioner, she will seriously consider the offer. Mon, 29 Jun 2009 13:00:00 +0300 1246269600 http://www.baltic-course.com/eng/finances/?doc=15199 Prime Minister of Latvia Valdis Dombrovskis (New Era) has ordered Culture Ministry's draft amendments, which stipulated hiking salaries for board members at thirteen Culture Ministry-run companies, retracted. Mon, 29 Jun 2009 13:00:00 +0300 1246269600 http://www.baltic-course.com/eng/markets_and_companies/?doc=15205 As of July 1, 2009, Lithuanians together with other Europeans will pay less for phone calls via mobile connection in the EU. The price of mobile phone conversations will decrease 11 cents (from 1.59 ltas (0.46 euro) to 1.48 litas (0.43 euro) per minute). Mon, 29 Jun 2009 13:00:00 +0300 1246269600 http://www.baltic-course.com/eng/markets_and_companies/?doc=15200 In the light of a visit of a delegation of German business companies to the Baltic States, on Monday, June 29, a conference is to be held in Vilnius on the initiative of the German bank Sparkasse Freiburg-Nordlicher Breisgau and the Lithuanian Economic Development Agency (LEPA) in order to acquaint Germans with business conditions in Lithuania. Mon, 29 Jun 2009 12:30:00 +0300 1246267800 http://www.baltic-course.com/eng/press_releases/?doc=15187 With the support of the Sustainable Energy Europe Campaign, the 17th European Biomass Conference & Exhibition opens its doors on Monday June 29, 2009. The conference will be Europe's prime event for the world's Biomass specialists, focusing on the developments in the biomass sector at all levels, including policy, markets, industry, technology, research and education. The conference will take place in CCH - Congress Center, Hamburg, Germany. Mon, 29 Jun 2009 12:00:00 +0300 1246266000 http://www.baltic-course.com/eng/baltic_states/?doc=15198 The annual session of the Parliamentary Assembly of the Organization for Security and Co-operation in Europe (OSCE) began in the Seimas building in Vilnius on Monday with the sitting of the Permanent Committee. Mon, 29 Jun 2009 12:00:00 +0300 1246266000 http://www.baltic-course.com/eng/analytics/?doc=15203 From June 22 till June 26, the Lithuanian Labor Exchange helped to employ a total of 1,900 people. Mon, 29 Jun 2009 11:00:00 +0300 1246262400 http://www.baltic-course.com/eng/markets_and_companies/?doc=15180 The Ministry of Agriculture reports that Pskov (Russia) businessmen are interested in setting up a joint agricultural enterprise with their counterparts in Latvia. Mon, 29 Jun 2009 10:30:00 +0300 1246260600 http://www.baltic-course.com/eng/transport/?doc=15186 The shareholders of the airlines flyLAL-Lithuanian Airlines have decided to renew the currently suspended activities of the national air carrier if the case against airBaltic and Riga Airport is won. Mon, 29 Jun 2009 10:00:00 +0300 1246258800 http://www.baltic-course.com/eng/baltic_states/?doc=15181 Latvia and Hungary are taking similar measures to overcome the crisis, as Prime Minister Valdis Dombrovskis (New Era) agreed at a meeting with Hungarian government members in Budapest on Friday, June 26. Sun, 28 Jun 2009 12:00:00 +0300 1246179600 http://www.baltic-course.com/eng/finances/?doc=15182 Sweden's Swedbank said on Friday, June 26, it had strengthened its Tier 1 capital, a move that analysts said would help the bank bolster its financial base in case of a fallout in the Baltic region. Sun, 28 Jun 2009 12:00:00 +0300 1246179600 http://www.baltic-course.com/eng/energy/?doc=15185 According to the demands from the European Union and in order to reorganise the Estonian electricity market, the transmission grid will be directly taken into the State ownership from the Eesti Energia Group , writes EPL Online/LETA. Sun, 28 Jun 2009 12:00:00 +0300 1246179600 http://www.baltic-course.com/eng/finances/?doc=15183 Latvia could save LVL 31 million by giving up non-crucial state administration functions, the State Chancellery has concluded. Sat, 27 Jun 2009 12:00:00 +0300 1246093200 http://www.baltic-course.com/eng/markets_and_companies/?doc=15184 By end of March 2009, the year-on-year growth in the number of customers was faster in EMT than in any other major mobile operator in Estonia, writes Postimees Online/LETA. Sat, 27 Jun 2009 12:00:00 +0300 1246093200 http://www.baltic-course.com/eng/analytics/?doc=15171 The fourth edition of "Consumers in Europe", jointly published by Eurostat, the Statistical Office of the European Communities and the General Directorate Health and Consumers of the European Commission presents a comprehensive set of data on consumer markets and consumer protection issues in the EU. In the EU27 in 2007, 46% of households lived in flats, 30% in detached houses and 22% in semi-detached or terraced houses. The share of households living in flats was highest in Latvia (72%), Estonia (69%), Spain (66%) and Germany (62%). In Lithuania 59% of residents live in flats. Fri, 26 Jun 2009 19:00:00 +0300 1246032000 http://www.baltic-course.com/eng/analytics/?doc=15160 According to Statistics Estonia, in April 2009 both exports and imports of goods at current prices declined by 40% compared to April of the previous year. The foreign trade deficit decreased twice. Fri, 26 Jun 2009 18:00:00 +0300 1246028400 http://www.baltic-course.com/eng/transport/?doc=15170 In 2009, the Riga International Airport plans to serve more than four million passengers, turn over LVL 25 million and earn a profit of LVL 1.5 – 2 million, as airport press secretary Martins Langrats informed LETA. Fri, 26 Jun 2009 17:30:00 +0300 1246026600 http://www.baltic-course.com/eng/baltic_states/?doc=15167 The European Commission's Economic and Financial Affairs Committee has approved allotting a second installment of the international loan for Latvia; the Commission will make the final decision based on the committee's conclusions. Fri, 26 Jun 2009 16:30:00 +0300 1246023000 http://www.baltic-course.com/eng/finances/?doc=15163 Prime Minister of Lithuania Andrius Kubilius urges Swedish banks to undertake responsibility for their role in the economy, not to stop credits for healthy business projects creating value added, and exports companies. Fri, 26 Jun 2009 16:00:00 +0300 1246021200 http://www.baltic-course.com/eng/energy/?doc=15164 The net profits earned by the Eesti Energia group in 2008 amounted to 1.4 billion kroons, growing by 121.3% in comparison to the previous year, writes Äripäev.ee/LETA. Fri, 26 Jun 2009 16:00:00 +0300 1246021200 http://www.baltic-course.com/eng/finances/?doc=15158 It is too early for the Baltic States to join the euro area and letting them in before they are ready could lead to massive unemployment, ECB Governing Council Member Christian Noyer said on Thursday. Fri, 26 Jun 2009 15:30:00 +0300 1246019400 http://www.baltic-course.com/eng/analytics/?doc=15159 In January-May 2009, the turnover of Lithuanian retailers (excluding value added tax) amounted to 10.893 billion litas (3.16 billion euros), decreasing 29.5% year-on-year. Fri, 26 Jun 2009 15:00:00 +0300 1246017600 http://www.baltic-course.com/eng/finances/?doc=15162 Eiki Nestor, the member of Social Democratic Party and Parliament, wrote in an opinion piece to Postimees that the budget deficit of Estonia is more than three percent despite budget cuts, E24.ee/LETA reports. Fri, 26 Jun 2009 15:00:00 +0300 1246017600 http://www.baltic-course.com/eng/analytics/?doc=15147 Moody's Investors Service on June 26 downgraded the ratings of six Baltic banks. The affected entities are Baltic International Bank (Latvia), BIGBANK (Estonia), Norvik banka (Latvia), Siauliu bankas (Lithuania) and Trasta Komercbanka (Latvia), with the bank financial strength rating (BFSR) of Mortgage and Land Bank of Latvia (MLBL) also being downgraded, while its long-term foreign currency deposit rating was confirmed, Moody's reported. Fri, 26 Jun 2009 13:30:00 +0300 1246012200 http://www.baltic-course.com/eng/energy/?doc=15145 EU environment ministers on Thursday, June 25, agreed to make international safety rules on nuclear power stations legally binding, a move which Brussels hailed as a model for the rest of the world. Fri, 26 Jun 2009 13:00:00 +0300 1246010400 http://www.baltic-course.com/eng/transport/?doc=15146 As the volume of postal deliveries, press subscriptions and, consequently, the income of Latvia Post (Latvijas Pasts, LP) and publishers has reduced, LP is considering switching to a five-day work week, as LP's Public Relations Department head Inese Kreicberga told LETA. Fri, 26 Jun 2009 13:00:00 +0300 1246010400 http://www.baltic-course.com/eng/markets_and_companies/?doc=15148 Grigiskes Group approved a corrected financial schedule for the year 2009 – the company plans a turnover of 112.8 million litas, or 32.7 million litas less compared to the previous year, and a profit before taxes of 800,000 litas, Grigiskes reported. Fri, 26 Jun 2009 12:30:00 +0300 1246008600 http://www.baltic-course.com/eng/legislation/?doc=15143 Retirement age in Latvia could be raised gradually starting 2012 or 2016, as the Welfare Ministry's Communication Department head Ilona Jursevska informed LETA. Fri, 26 Jun 2009 12:00:00 +0300 1246006800