Posts published in Day: May 19, 2021

Bankruptcies grow 26 percent on year to coronavirus-hit 2020

Wednesday, May 19, 2021

Bankruptcies rose 26 percent on year to 2020, which was also the first year the bankruptcy rate had increased since the last economic downturn. While the situation is not as bleak as it had been in the last downturn over 10 years ago, the pandemic has brought about a situation where start-ups without significant assets are failing to get off the ground, while the accommodation, hospitality and related sectors have…

Plenty of office space available in Rīga

Wednesday, May 19, 2021

In 2020, the availability of office space increased significantly in Rīga. The supply  will only increase further this and next year, as more ambitious office building projects will be commissioned, Latvian Radio reported May 19. Nearly 50,000 square meters of new office space were commissioned in Rīga last year. Currently, the total available area of office rooms in Riga and Pierīga reaches 640,000 square meters. According to Diāna Frīdenberga, Chair of the Board…

Former Parex banka owners told to pay up

Wednesday, May 19, 2021

Former owners of the notorious Parex banka, Valerijs Kargins and Viktors Krasovickis will have to reimburse the state privatization agency and its subsidiary a cool 124.3 million euros, according to a decision of the Civil Cases Department of the Supreme Court, LSM’s Latvian and Russian language services reported May 19. Former poster child of the so-called ‘Baltic tiger’ economies, Parex banka collapsed during the 2008 financial crisis, dragging the entire state to the verge of bankruptcy and necessitating…

Major fish processing plant to be built in Liepāja

Wednesday, May 19, 2021

The fish processing company Syfud will invest up to €30 million in the construction of a new fish processing plant in the territory of former Liepāja Fish canning factory, Latvian Radio reported May 19. The construction of the plant is scheduled to be completed in autumn 2022. The new plant will provide at least 500 jobs in the area, but as the plant develops, the number of employees could rise to 800,…

China’s export of higher education

By Juris Paiders on Wednesday, May 19, 2021

The West is becoming increasingly more concerned about the attempts of communist China to expand its global network of influence. Still, there are also several democratic states that are willing to closely cooperate with Beijing. Three years ago, Hungarian Prime Minister Viktor Orban’s government forced the prestigious Budapest-based Central European University to be closed, because the founder of the university Hungarian-born American billionaire George Soros criticized Orban’s course of “unliberal…

End of Scandinavian Neutrality: NATO’s Militarization Of Europe

By Rick Rozoff on Wednesday, May 19, 2021

There was a noble if naive expectation that with the effective dissolution of the Soviet-led Warsaw Pact in 1989 and even more so with its formal dismantling and the breakup of the Soviet Union itself into fifteen new countries two years later that an era of peace in the world and demilitarization of the European continent was dawning. The peace might not be a just one, leaving the major Western…

Electricity produced in CHP plants down by 30% last year

Wednesday, May 19, 2021

The latest data published May 19 by the Central Statistical Bureau (CSB) show that in 2020 output of electricity in combined heat and power (CHP) plants comprised 2940.1 gigawatt hours (GWh), which comprised 51 % of total amount of electricity produced in the country. In 2020, compared to 2019, amount of electricity produced in CHP plants fell by 30 %, which was mainly affected by such factors as growth of output of electricity in…

‘Safe school’ municipality list slightly expands

Wednesday, May 19, 2021

Starting next week, 33 municipalities may open schools for pupils in grades 1-6 and 12, according to Disease Prevention and Control Center (SPKC) information published May 19. For the past two weeks the figure was 31. From Monday, May 24, in municipalities where the two-week morbidity rate per 100,000 people does not exceed 200, on-site education can be organized for students from grades 1st to 6th and students of 12th grade. For…

Office spaces in large supply in Latvia

Wednesday, May 19, 2021

Despite the pandemic in 2020, the offer of office spaces increased significantly in Rīga. The supply  will only increase in Riga this and next year, as more ambitious office building projects will be commissioned, Latvian Radio reported May 19. Nearly 50,000 square meters of new office space were commissioned in Rīga last year. Currently, the total available area of office rooms in Riga and Pierīga reaches 640,000 square meters. According…

Latvian Television switches to HD resolution

Wednesday, May 19, 2021

As of May 19, Latvian Television channels LTV1 and LTV7 are available to customers of major cable operators at high-quality or HD resolution. The HD resolution also shows the LTV content on REPLAY.lv and on LSM.lv portal. “This is a significant and long-awaited event, because the transition of Latvian public television to modern quality of transmission is fundamentally important –viewers’ demands for content quality are only increasing and the public media…