Compared to January, the level of construction costs in Latvia rose by 0.4% in February. Maintenance and operational costs of machinery and equipment increased by 0.8%, prices of building materials by 0.5%, while labor remuneration of workers decreased by 0.1%. In February, the average level of construction costs was mainly influenced by an increase in…
To finance the reconstruction of Krasta Street and Brasas Bridge, Riga City Council plans to take a EUR 14.23-million loan from Latvia’s State Treasury, according to documents added to the working agenda of Riga City Councils Finance and Administrative Affairs Committee. To finance the restoration of Krasta Street surface, it is planned to take a…
Looking at the amount of taxes companies pay, 55.6% of businessmen and CEOs said they were too high, 36.5% said taxes were a bit too high, whereas 7.2% said taxes were as high as they needed to be, according to data from Turiba University’s Business Index. Compared to answers provided in 2018, it can be…
It is clear there are too many banks for Latvia’s domestic market, said chairman of Finance and Capital Market Commission Peteris Putnins. He admitted that not a single bank present in Latvia worked with just one clientele segment. However, the country’s market is not big enough for them to work as widely as Scandinavian banks,…
Latvian Interior Affairs Minister Sandis Girgens wants to increase wages for the “least paid people” employed in the interior affairs sector. For example, the plan is to equalize the wages of police cadets, which is currently EUR 450, to the lowest wage in the country’s National Armed Forces, which is EUR 520. At the same…
Riga City Vidzeme Suburb Court has partially satisfied the plea submitted by National Association of Construction Companies, which is responsible for the construction of Latvia’s National Library, and has enforced from Latvia’s Culture Ministry EUR 9,272,319 as well as court expenses of EUR 60,083 in favor of the said association. Culture Ministry has announced plans…
Insolvency administrator of the bankrupt Tosmare shipbuilding factory Ivars Melkis has put up the company’s owned ship repair and shipbuilding factory for EUR 2.164 million, according to published announcement. The announcement mentions that the price of Tosmare shipbuilding factory is EUR 2,163,163 with VAT. Property on sale includes two dry docks, one floating dock, as…