Rail Baltica ratified by Saeima

Latvia joined Estonia June 22 is ratifying the binding agreement on the construction of the major Rail Baltica rail link through the Baltic states, leaving only Lithuania now to formally and fully commit to the project.

Firms seek compensation for 'lost' Nord Stream 2 revenue

Two Ventspils-based companies - Noord Natie Ventspils Terminals and Baltijas Ekspresis - are asking the Latvian government to compensate them to the tune of €8.3m in revenues they claim are lost because of Latvia's non-participation in the Nord Stream 2 gas pipeline project.

Estonia first to ratify Rail Baltica agreement

The Estonian parliament, the Riigikogu, on June 19 became the first of the three Baltic states to ratify the agreement governing the construction of a new high-speed rail line, Rail Baltica.

Rail boss set to become port boss

A commission assessing candidates for the Freeport of Riga CEO has picked Latvijas Dzelzcels railroad company council chairman Ansis Zeltins as the best candidate.

Government moves forward with train procurement project

The state-owned Pasazieru Vilciens (Passenger Train) company will continue its procurement for 32 new electric trains, even though the project will have an impact on the state budget, as the government supported the move in principle on June 13.

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.

Annual inflation 2.8% in May

The latest data from the Central Statistical Bureau (CSB) released June 8 show that during the year (in May 2017, compared to May 2016) the average level of consumer prices increased by 2.8 %. Prices of goods grew by 2.6 % and prices of services by 3.6 %.

Riga braces for roadworks season

Riga will spend €12m to repair wide stretches of the capital's chief streets including Brīvības, Valdemāra, Elizabetes, Stabu, Dzirnavu, Merķeļa and others this summer. The way roadworks are organized have already faced criticism. 

Tram fans can enjoy an hour-long ride

A new tram route - tram line Number 1 - has started serving passengers from June 5. It joins the neighborhoods of Jugla and Imanta in a ride that lasts a little more than an hour. 

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.

airBaltic receives new CS300 aircraft

On June 2 Latvian national flag carrier airBaltic received the fourth of its 20 Bombardier CS300 jets on firm order. By the end of this year, airBaltic is planning to have eight CS300 aircraft. 

Freight volumes up in first quarter

According to data released by the Central Statistics Bureau (CSB) June 1, freight volumes in Latvia increased substantially during the first quarter of the year.

State to support energy-intensive companies

Following two years of negotiations, the European Commission has authorized state support for energy-intensive manufacturing companies in Latvia, the Economics Ministry told LETA on May 30.