EU-DIGEST

Latvia exported 2.9 million tonnes of timber in the first nine months of 2008

Latvia exported 2.9 million tonnes of timber from its ports in the first nine months of 2008, Latvian Central Statistical Bureau reported. Latvia's state forestry management company Latvijas Valsts Mezi made LVL 92.67 million (euro130.44m /$165m) in 2007 putting it just behind Swdbank, reports the Baltic Course. The study, which ranked 500 companies in order of performance, also indicates that last year was the most successful for Latvian business in terms of profitability since the restoration of independence.

Last year, companies in Latvia made a total of more than LVL 1.98 billion (euro2.76b/$3.5b), which equates to around 1.2 times more than they did in 2006.

Labels: EU, Export, Latvia, Wood

EU-Economy: Lower Euro improves foreign exports for Europe as Consumer goods firms and exporters lead rally in European stocks

European stocks rose Friday, led by consumer-goods companies, as falling commodity prices eased concern that inflation would force central banks to lift interest rates. Carrefour, Ryanair Holdings and Royal Bank of Scotland climbed after prices for oil, gold, copper and corn declined. European Aeronautic Defense & Space Company rallied 5.3 percent as the euro slipped to the lowest since February against the dollar, boosting the value of its overseas sales.

Labels: EU, EU Economy, euro, Export