Business
Study suggests new Latvian businesses do rather well
Study suggests new Latvian businesses do rather well
More than half of new entrepreneurs report that their income level has increased after starting the business, according to a survey carried out by the finance institution Altum, Latvian Radio reported March 11.
Mapon issues €3 million bond to finance acquisitions 
Mapon issues €3 million bond to finance acquisitions 
Mapon, a Latvia-founded fleet management solution provider with a workforce of 180 people, has attracted private and institutional investors who have invested €3 million into the company's bonds. The funding will be used to finance company acquisitions and further expand Mapon's operations in Europe, the company said in a relase March 11. 
Deadline extended until April for large investment loan program
Deadline extended until April for large investment loan program
The application deadline for the program "Large investment loans with capital discount" jointly implemented by the Investment and Development Agency of Latvia (LIAA) and the finance institution ALTUM has been extended until 2 April, LIAA has announced, citing "growing interest" as the reason.
Applications invited for 'OpenFin Hack' hackathon
Applications invited for 'OpenFin Hack' hackathon
Financial institutions, financial technology companies, as well as Latvian and European financial industry associations are inviting applications for an international financial technology hackathon named "OpenFin Hack".
Latvian plywood producer objects to publishing company owner identity
Latvian plywood producer objects to publishing company owner identity
A case has been brought before the Constitutional Court that may affect Latvia's progress towards transparency in the business environment in recent years. By July 1 this year all joint stock companies must disclose their owners to the Enterprise Registry, which publishes the shareholder lists on its information portal. However, several shareholders of "Latvijas finieris" have appealed to the Constitutional Court, Latvian Television's De Facto reported March 3.
Business sentiment improves in retail and manufacturing sectors
Business sentiment improves in retail and manufacturing sectors
Data from the business tendency surveys carried out by the Central Statistical Bureau (CSB) and published March 1 show that in February 2024, compared to January, the business environment has improved in retail trade and manufacturing, but worsened in the construction and services sectors.
Lidl opens 30th store in Latvia
Lidl opens 30th store in Latvia
German retail giant Lidl opened its 30th store on February 29, two and a half years after entering the Latvian market, with representatives of the German Embassy in Latvia and German-Baltic Chamber of Commerce in attendance. It is already the 30th Lidl store in Latvia and the 16th Lidl store in capital city Rīga.
Young Latvian entrepreneurs developing bioeconomy prototypes
Young Latvian entrepreneurs developing bioeconomy prototypes
Under the "Prototech" program of the Technology Business Center of the Investment and Development Agency of Latvia (LIAA), 30 entrepreneurs and authors of ideas have received support for the development of a prototype. More than a third of the prototypes were developed in the field of bioeconomy, biomedicine and biopharmaceuticals, reports LIAA.
Smartpost Itella announces expansion of Latvian network
Smartpost Itella announces expansion of Latvian network
Smartpost Itella has announced it will  invest 2 million euros to expand its network of parcel terminals in all three Baltic countries as it bids to become one of the leading companies in the deliveries sector in the region.
Latvian cosmetics brands expand exports markets
Latvian cosmetics brands expand exports markets
The Covid-19 pandemic and the Russian invasion of Ukraine have had an impact on the cosmetics industry, and now cosmetics manufacturers face new challenge. Businesses are still looking forward to the future, Latvian Radio reported February 28.
CrossChem reports modest 2023 profit
CrossChem reports modest 2023 profit
Chemical manufacturer and distributor CrossChem earned a net profit of 415,000 euros on revenues of 21.1 million euros in 2023 according to its unaudited financial results.
More support promised for innovative companies
More support promised for innovative companies
At its meeting of February, the Cabinet of Ministers approved the support program of the Recovery Fund (AF), so that Latvian companies and research organizations can develop large-scale projects of common interest important to Europe (IPCEI).
Tech companies Baltcom and Bite confirm full merger plan
Tech companies Baltcom and Bite confirm full merger plan
Electronic communications and information and communication technology (ICT) companies Baltcom and Bite Latvija said February 15 they have started the process of a full merger whch is expected to be completed this summer.
Foreign investment up 30% last year in Latvia
Foreign investment up 30% last year in Latvia
Compared to 2022, foreign investment volume in Latvia has increased by 30%. Data from the Investment and Development Agency of Latvia (LIAA) show that 46 investment projects were implemented last year and foreign investments were attracted in the amount of nearly 619 million euros, and 2500 new jobs were created, Latvian Radio reported on February 12.
'Snow crab' dispute settled with losses for Latvian business
'Snow crab' dispute settled with losses for Latvian business
The International Centre for the Settlement of Investment Disputes (ICSID) has decided, after a three-year trial, to reject the claim of SIA “North Star LTD” and owner Pēteris Pildegovičs to recognize the damage caused by Norway to the company in snow crab fishing, according to information published by ICSID on February 8.
Chinese deliveries growing in popularity
Chinese deliveries growing in popularity
Shoes, clothing, cosmetics and electronic goods are the most common items in Latvian parcels, and more and more often they are coming from China, according to research from one of the country's main automatic parcel machine operators.

More

Most important