Long Chips producer SIA “Pērnes L” does not want to build the new production facility in Latvia. The Ministry of Finance has estimated the fiscal space available for financing the new priorities for the following years, but the storm experienced at the beginning of the week also caused losses to a number of companies.
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Disagreements with the SRS and lazy Latvians. Why the manufacturer ‘Long Chips’ wants to move to Cape Town
Photo: Kārlis Dambrāns, DELFI
SIA “Pērnes L”, the producer of “Long Chips” chips, is planning the construction of a new production plant. In a conversation with “Delfi Bizness”, owner Laimonis Radziņš says that there are several reasons why it should not be built in Latvia, but elsewhere. One of the potential places to build the new production plant – even as far as South Africa.
During the entire conversation, one can sense the businessman’s deep resentment towards our country, and he does not hide his reasons. The unavailability of guest workers, legal proceedings with the State Revenue Service, expensive loans and lack of support for exporting companies, lack of faith in the judicial system, Radziņš lists.
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So that no one has the opportunity to pay too little – the new electricity bills annoy Twitter
Foto: Unsplash
In order for no one to have the opportunity to pay too little, the French would have long ago put on yellow vests and went to protest, as well as other critical and sharp statements on the microblogging site “X” (formerly “Twitter”) these days have been directed towards “Sadales nettika” and “Latvenergo” after receipt of new electricity bills.
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The hail broke the car windows. Will the insurer pay for it?
Photo: Paula / FB.com
Volumes destroyed by hail and broken car windows, windows of buildings broken by falling trees due to the wind and damaged vehicles – this kind of post was observed on Monday in several places in Zemgale and partially in Riga as well. “Delfi Bizness” explains whether their owners will be able to receive insurance compensation for properties damaged in such a storm, or whether it is still considered “force majeure” or extraordinary, unavoidable circumstances, due to which it is impossible to fulfill contractual obligations.
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Rate hikes and the reintroduction of government spending restrictions threaten eurozone economic growth
Photo: Pixabay
Increasing interest rates and reinstating government spending restrictions are currently threatening the region’s economic growth and increasing the risk of recession, according to Bloomberg Economics experts.
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Buy and then sell or sell and then buy? Scenarios for housing change
Foto: Shutterstock
Although we are conservative in Latvia, hardly any of us live in the same house all our lives, from time to time we have to change them. So far, it is more popular to buy housing than to rent. In such a property purchase transaction, when selling the existing home, it is easier to do it if there is “excess” money so that borrowed funds do not have to be used. However, credit is necessary for a large number of buyers.
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PUK: The tariffs of the ‘distribution network’ have been evaluated particularly carefully, the state should think about a support mechanism
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Taking into account the citizens’ public concerns about the new electricity system service tariffs, the Public Service Regulatory Commission (PSRK) has issued a statement that the tariffs have been evaluated with great care, applying only reasonable costs to them.
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Inflation continues to slow down
Foto: Midjourney/DELFI
In July 2023, compared to July 2022, the average level of consumer prices increased by 6.4%, according to the latest data of the Central Statistics Office.
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A new application every minute. Insurers are beginning to collect storm damage claims
Photo: LETA
Insurers are currently accepting claims for damage caused by Monday’s storm and storm. It is still difficult to estimate the exact amount of compensation to be paid out, but there are already a lot of submitted applications, company representatives admit.
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A storm destroys the ‘Lavandu Leja’ garden in Ikškile, other fragrant fields have suffered
Foto: Shutterstock
On Monday, August 7, the strong storm destroyed the flower garden “Lavandu lejas” in Ikškile. Its owners shared in a post on the social network “Facebook” that they are saving the seedlings and trying to cover the damage. Other lavender growers contacted by “Delfi Bizness” are lucky – there is no major damage.
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How much will you get ‘on hand’? The employee taxes of all three Baltic states are compared
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Comparing the years 2022 and 2023, only minor changes have taken place in the field of taxes in Latvia without a comprehensive impact on the income of the population, mainly thinking about the recipients of lower incomes: the maximum differentiated non-taxable minimum and the minimum wage have been increased. Lithuania and Estonia have also experienced similar changes during the year, according to the comparison of the tax burden of the Baltic states conducted by the “Swedbank” Financial Institute.
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Čiekurkalns is the new Ågenskalns. Housing developer ‘Tepat group’ is forging development plans
Photo: Mārtiņš Purvinņš, DELFI
Voldemārs Siliņš, the founder of the group of housing development companies “Tepat grupa”, is convinced that this time, while the economy as a whole and the activity of apartment sales slows down, can be used productively, preparing for the next stage of growth.
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Powerless in front of nature. Entrepreneurs in Dobele region suffered huge losses due to the storm
Photo: DELFI
When driving through Dobele county 24 hours a day after a storm, the broken trees on the sides of the roads become a common sight at some point. Cars battered by hail, broken windows and torn off roofs are seen from time to time. They destroyed both residential houses and work buildings in companies and farms, in some of them the storm destroyed almost everything.
“Delfi Bizness” talked to several entrepreneurs and farmers on the Dobele side. Some of them had been spared by the storm. However, both the less affected and the more affected businessmen all agree – man cannot stand against the majesty of nature and it would not have been possible to prepare for the storm in order to save the property of the company or farm.
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Banks around the world are worried about some loans
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The increase in borrowing costs this year has made commercial real estate one of the hardest hit areas of the economy, so international banks are currently looking for ways to get rid of loans in this area, writes “Bloomberg”.
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“airBaltic”‘s first half-year figures exceed expectations, but the lack of engines affects the results, says Gauss
Photo: Publicity images
The Latvian airline “airBaltic” closed the first half of the year with a net profit of 14.6 million euros, which is an increase of 105.7 million euros compared to the corresponding period last year, company representatives inform.
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Fuel will become more expensive, the forecasts are not encouraging
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Gasoline and diesel fuel prices have recently increased at gas stations in Latvia. This has been facilitated by the increase in oil prices in the world, experts explain.
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Endurance test passed? How solar panels survived hail and storm
Foto: Unsplash
Zero as the consequences of the experienced storm are still being realized, including the strong hail, which raises the question – how are the solar panels that have gained popularity in Latvia in recent years and appeared in large numbers.
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Top 10 largest joint stock companies
Foto: Shutterstock
Currently, 925 joint stock companies are registered in Latvia, their average age reaching 17 years. “Lursoft” has researched that almost 13% of all joint-stock companies were registered in 1991, while 7 new joint-stock companies were already registered this year, of which the largest paid-up share capital is AS “Vairo”.
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“Riga traffic” has a negative impact on the state budget; the council should review the investments
Photo: LETA
The currently planned negative impact on the budget balance of the general government in 2024 and 2025 of the capital company SIA “Rīgas satiksme”, controlled by the municipality of the city of Riga, exceeds the allowed limit by more than four times, therefore the Riga city council should review the investment plan or the amount of revenue, emphasizes the Ministry of Finance (FM). .
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The tax debt of catering industry companies has reached 44.2 million euros
Photo: Pixabay
The tax debt of companies working in the catering industry has reached 44.2 million euros, which is 79% more than before the Covid-19 pandemic, or at the beginning of 2020, said the president of the Latvian Restaurant Association Jānis Jenzis.
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Russia is still among the most important export partners of Latvia
Photo: Eddy Palen/LETA
In June 2023, Latvia’s foreign trade turnover amounted to 3.4 billion euros, which in actual prices was 8.3% less than a year ago, including the value of exports of goods decreased by 13%, and the value of imports by 4.4%, according to Central preliminary data of the Statistical Office (CSB). In June, Latvia exported goods in the amount of 1.46 billion euros, but imported goods in the amount of 1.94 billion euros.
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The increase in interest has helped ‘Luminor’ to rapidly increase its profits
Photo: Luminor
In the second quarter of this year, the net profit of “Luminor” reached 53.2 million euros, representing an 81% increase compared to the same period last year, bank representatives inform.
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How the movie ‘Barbie’ saves the toy manufacturer ‘Mattel’ from the industry crisis
Photo: Vida Press
While the box office revenue of the movie “Barbie” exceeded one billion US dollars in two weeks, the toy industry is experiencing losses after the financially successful period of the pandemic. Mattel, the maker of the iconic doll, is hoping that the popularity of the film will boost its sales and is making new plans to continue its conquest of Hollywood. Also in Latvia, the pink wave has brought the most visited weekend in cinemas since the pandemic.
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If you manage to survive the year, nothing will be able to derail you. Farmers close to bankruptcy
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This summer has turned out to be so bad for almost all agricultural sectors that many owners do not remember at all in their experience. Frost, drought and now incessant rains affect the preparation of fodder, as well as the crop yield. In the industry, it is also not clear what will happen to the support of almost 6.8 million farmers granted by Europe. Farmers on the Smiltene side met with representatives of the Cooperation Council of Agricultural Organizations (LOSP) to discuss issues relevant to farmers.
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Which industries have accumulated the largest tax debts?
Photo: Pixabay
The total tax debt of companies in the second quarter of 2023 reached 453.37 million euros, according to “Lursoft” data.
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148.4 million euros are allocated in the budget for new priorities next year
Photo: Imago/Scanpix/LETA
The fiscal space available for financing the new priorities in 2024 is 148.4 million euros, in 2025 – 450.3 million euros and in 2026 – 684.3 million euros, according to the informational report on macroeconomic indicators prepared by the Ministry of Finance (FM) for consideration by the government , revenue and general government budget balance forecasts in 2024, 2025 and 2026.
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2023-08-12 09:00:04
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