Russian billionaire may be interested in Latvian gas companies

Russian businessman Igor Makarov, the owner of international group Areti (formerly Itera), is interested in buying shares belonging to Itera Latvija in Latvijas Gaze and Conexus Baltis Grid natural gas companies, said Itera Latvija board chairman Juris Savickis.

Giant structures should be finished September 2018

SIA Merks, the Latvian part of Estonia's large AS Merko Ehitus construction group, has signed a 36 million euro contract to complete the 'Z-Towers', a pair of structures at 30 Ranķa Dambis, Riga that look like enormous salt and pepper shakers.

Foreign investors urge faster pace from government

The Foreign Investors Council in Latvia (FICIL), the country's leading organization for foreign-owned businesses, on May 26 urged the government to be more decisive in its reform drive and to provide a predictable environment for future investment. 

No gambling houses in central Riga, rules council

The Riga City Council's committee on security, public order and corruption prevention on May 22 upheld the suggestion to ban gambling halls in the city's historical center, with the exception of four- and five-star hotels, the Riga City Council said.

Offshore files reveal political ties to payday lending giant

The 4Finance payday loan company, set up in 2008 by four Latvian students, was taken over in late 2009 by associates of so-called oligarch Andris Šķēle and well-known businessman Māris Martinsons. They were able to escape paying taxes on cash loans almost completely by using companies in Malta and Belize, according to document copies obtained by the of investigative journalists.