Jun 14 2010, no 297

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Highlights from this issue:

TOP STORIES
- Eko Osta, a locally-owned waste management company has opened its own biotechnology plant. Working together with Latvian scientists, it will produce oil-eating bacteria suited for the Latvian climate - and it also has the scientific capacity to fill custom orders (page 11).
- As of 1 June, Latvian TV channels have ceased all analogue broadcasts, completing their switch to digital TV. Even Swedish TV3 has went along with the crowd, having opposed the change up to the very last minute (page 8).
- Even though Lithuanian Snoras Bank already owns Latvijas Krajbanka, the ninth largest Latvian bank, it has decided to enter the Latvian market on its own (page 2).

MANUFACTURING
- Further strengthening its presence in Latvia, Danish sock manufacturer MP Socks opens its own production facility

FINANCE
- Scandinavian banks plan a pan-Baltic ATM network
- Set to start a new life on 1 July, Parex banka still remains under operational restrictions

FOOD & AGRICULTURE
- Kvass, a traditional Latvian beverage, proves to be have lucrative market
- Finnish-owned Cesu Alus brewery brings RC Cola to the Latvian market
- Fish processors lobby European Commission for a change, claiming that its restrictions make fish taste worse

PROPERTY & CONSTRUCTION
- Costly plot of real estate turned into a successful producers' market  
- Russian company purchases former Russian military base
- Yet another housing project from the boom years is up for grabs

RETAIL & SERVICE
- Lithuanian Maxima now is more than just a supermarket chain - it is also a licenced financial institution

IT & MEDIA
- Mobile operators contemplate 4G networks, but obstacles abound - for one, the necessary frequencies are not available
- The failed attempt to bring MTV to the Latvian market is coming to an end

TRANSPORT & LOGISTICS
- Riga tram system gets its first update in years: a classy new low-floor tram, which, of course, comes with its own share of troubles

ENERGY & ENVIRONMENT
- Swedish biofuel heating plant producer Järnforsen Energi System reports a major rise in demand
- Finnish-owned Lassila & Tikanoja waste managers consider expanding in Lithuania

ECONOMY & POLITICS
- Yet another corruption scandal has broken out in the Latvian politics
- Latvian Minister of Economy narrowly survives a no-confidence vote
- May budget shows surplus, but tax collection patterns remain chaotic

EVENTS (Riga)
- BCCL Pre-Jani Celebration, 15 June
- AmCham Roundtable, 15 June
- SSE Executive Education, 15-18 June
- DBHK Members Event (Liepaja), 16 June
- DBHK Contacts Exchange, 16 June
- Dutch Chamber Lunch, 17 June
- DBHK Discussion Evening, 18 June
- CanCham Canada Day, 1 July
- AmCham Outlook Forum, 2 July
- AmCham US Independence Day Celebration, 3 July
- Joint Regional Visit (Cesis), 8 July
- BCCL Annual Curry Cook-off, 13 July

KEY FIGURES
- Wages, real earnings, foreign trade, money supply, lending, inflation, interest rates, consumer price index, currency, stock exchange, prices of key commodities, retail trade, industrial output, producer prices, GDP, current account, foreign direct investment and key economic data forecast 2010-11.

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