Latvia's State Police have detained five people over possibly laundering more than €627,000, with four kept behind bars during investigation, the police said March 18.
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On June 6, Marshall Billingslea, the Assistant Secretary for Terrorist Financing at the United States Department of Treasury asked Latvia to resist possible activities of the European Investment Bank (EIB) in Iran, reported LTV on the evening of June 7.
A campaign by the Consumers Rights Protection Center (PTAC) has outraged payday lenders which have called it 'discriminatory'.
Latvia's national rail company Latvian Railways told the press Wednesday that the electrification project of Latvia's railways will begin on the line towards the port city of Ventspils (northwestern Latvia). The government decision over the course of electrifying Latvia's rails is expected in late October.
Looking for new trading partners, Latvian officials and entrepreneurs have visited China. Latvia's companies are cautious about rushing into the Chinese market but recently have concluded an agreement over shipping 3 containers of canned fish, reported Latvian Television Saturday.
On Friday roadworks began on Rīga's busiest streets - Lāčplēša and Brīvības st. Accordingly, drivers and public transport passengers should expect to spend more time in traffic this summer in the capital.
As structural reforms were sidelined in the years following the economic downturn, Latvia's economic growth is declining. Latvian Television spoke to economists who warned that the current technical recession can lead the country into a middle-income trap.
The state budget draft was approved on Monday, and the Finance Ministry is currently working on the nuts and bolts of the 2016 state budget, which will have to be approved by the Saeima later on.
The shortage of qualified mid-level specialists for various Latvian industries has prompted some companies to launch overseas recruiting efforts to fill these positions with foreign workers, reported LTV’s evening news program Panorāma Monday.
Former chairman of the US Federal Reserve Paul Volcker, now a co-investor along with the Ripplewood Group in the Citadele Bank, shared his views of the world economy and the Baltic states’ place as “part of the European heartland” in an interview Tuesday with LTV news reporter Kārlis Roķis.
For more than two decades now Russia has been Latvia’s top strategic partner in the transit sector, providing the bulk of cargo volumes and logically investing more and more in the companies that operate these conduits of trade. But since Russia has provoked a war in Ukraine, Latvia’s security services have been looking much more warily at these ties.