Markets and Companies

International Internet Magazine. Baltic States news & analytics Tuesday, 17.09.2019, 01:50

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Latvia: Unemployment benefits to be reduced slightly as of next year

Latvia: Unemployment benefits to be reduced slightly as of next year

16.09.2019

Starting next year, unemployment benefits will be paid for eight months instead of nine months now, and the amount of the benefits will also be reduced, as a result, EUR 12 mln will be saved in the budget, Welfare Minister Ramona Petravica (KPV LV) said in an interview with Latvian Television this morning, writes LETA.

Keyword tags: Budget, Financial Services, Latvia, Markets and Companies



At least five children hospitalized for food poisoning in Sigulda

At least five children hospitalized for food poisoning in Sigulda

13.09.2019

At least five children have been hospitalized in Sigulda, the Disease Prevention and Control Center's representative Ilze Araja informed LETA.

Daugavpils quits Association of Local and Regional Governments

Daugavpils quits Association of Local and Regional Governments

12.09.2019

Daugavpils City Council today supported quitting the Latvian Association of Local and Regional Governments (LALRG), reported LETA/BNS.


Lithuania: retailer fined for unfair commercial practices to suppliers

Lithuania: retailer fined for unfair commercial practices to suppliers

12.09.2019

Konkurencijos taryba found that Norfos mažmena and Rivona infringed the Law on the Prohibition of Unfair Practices of Retailers (Law) by setting requirement for the suppliers to pay fees for sales promotion, BC learned from the Konkurencijos taryba.

Gandalf Distribution AB becomes a wholly owned subsidiary of ELKO Group

Gandalf Distribution AB becomes a wholly owned subsidiary of ELKO Group

12.09.2019

After successfully operating in the Nordic region for two years, ELKO Group signed an agreement for purchasing the remaining 15% of shares of Swedish-based distributor Gandalf Distribution AB at the end of August, thus concluding the acquisition.


12.09.2019

Baltic Block pallet block maker increases sales by 27.7% in H1

Latvian pallet block manufacturer Baltic Block in the first half of this year generated EUR 10.6 mln in turnover compared to EUR 8.3 mln a year ago, the company's representatives reported. According to LETA's estimates, the six-month turnover rose 27. % from the respective period last year.

12.09.2019

Lithuania's Theca Furniture to pay out EUR 2 mln in dividends to Danish owners

The Danish-owned Kaunas-based Lithuanian furniture producer Theca Furniture posted 58.1 mln euros in revenue last year, up 12.4% from 51.6 mln euros a year ago, reported LETA/BNS.

12.09.2019

Microduct manufacturer Höhle opens a new factory

Höhle OÜ, a plastic microduct manufacturing company unique in Estonia, opened its new factory in Lõiuse village in Rapla county. The factory produces over 200 km of micro ducts per day, which go to the domestic market as well as to 12 European countries. The total investment for the factory was over 4 mln euros, BC informed Höhle OÜ representative.

12.09.2019

Lithuania's PPO chief asks to be dismissed

Diana Vilyte, the head of Lithuania's Public Procurement Office, has handed in her request to be dismissed, informed LETA/BNS.

11.09.2019

Sologubas replaces Ceika as CEO of Lithuania's Snaige

Snaige, the only refrigerator manufacturer in the Baltics, indirectly controlled by Russia's Polair, said on Wednesday its CEO of the past 12 years Gediminas Ceika has stepped down and the company's board appointed its incumbent CFO Mindaugas Sologubas as the new general manager of the company, informed LETA/BNS.

11.09.2019

Rimi to launch online trade in Estonia in spring of 2020

The Rimi retail chain is looking to open an online store in Estonia next spring, while the retailer's online shopping platform in Latvia will be launched in October this year, informed Rimi`d representative.

11.09.2019

Eco Baltia Vide and Clean R confirm readiness to continue waste management services in Riga

Eco Baltia Vide and Clean R, two of the current waste management operators, have confirmed their readiness to continue provision of services in Riga, LETA learned from both companies.

11.09.2019

IT company Mikrotikls profit increases 1.8 times in 2018

Network equipment manufacturer Mikrotikls last year operated with a turnover of EUR 258.711 mln, up 2.8% y-o-y, while the company's profit increased 1.8 times to EUR 79.349 mln, according to Firmas.lv informed LETA.

10.09.2019

Denmark's Copenhagen Merchants sets up business in Lithuania's Kaunas

Copenhagen Merchants is a leading Danish commodity broker and service provider for the agricultural trading industry has established a company in Lithuania's second-largest city of Kaunas, reported LETA/BNS.

10.09.2019

Puce wants to declare state of emergency in Riga due to crisis in waste management sector

Environment Protection and Regional Development Minister Juris Puce (For Development) will call on the government to declare state of emergency in the Latvian capital due to the current crisis in the sector of waste collection and management, LETA learned from the ministry.

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