The Latvian electricity transmission provider High Voltage Network (Augstsprieguma tīkls, AST) signed a €77 million contract with Rolls-Royce Solutions last week to supply high-capacity battery systems. Another bidder, meanwhile, was excluded from the procurement over security concerns, Latvian Television's De Facto reported on February 18.
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The state-owned airline airBaltic has half a year left to find 200 million euros to repay buyers of bonds issued in 2019. The head of airBaltic, Martin Gauss, said in an interview that the company will be able to raise money, the state as a shareholder may have to get involved, Latvian Television's De Facto reported on February 12.
Although statistics for December are not yet available, it is clear that Latvian imports from Russia exceeded half a billion euros last year. The largest section is not much-discussed grains, which mostly do not remain in Latvia, but mineral products, especially liquefied petroleum gas, Latvian Television's De Facto reported on January 21.
Officially, in Latvia there are currently no companies with tax debts under public contracts. In practice, however, cases can be found where the tax debt to the firm has disappeared just when it is checked by the procurement commission and then reappeared, reported Latvian Television's De Facto broadcast on January 7.
Port management reform will not be completed this year. The decision taken by the previous Saeima to establish state companies instead of private Rīga and Ventspils Freeport offices has lost political support, and therefore decisions to complete the reform have become stuck in the Cabinet, Latvian Television's broadcast De Facto reported November 5.
The State Security Service (VDD) suspects a Belarusian businessman in Latvia of breaching European Union sanctions. He entered Latvia with the support of the Investment and Development Agency of Latvia (LIAA) following Belarus opposition protests in 2020. Latvian Television's De Facto reports on October 8 that Igor Medved's shareholdings have now been arrested by the service so they can be seized in the future if necessary.
Although Latvia currently imports considerably fewer goods from Russia than before the invasion of Ukraine, there are product categories that also bring hundreds of millions of euros of income to the Russian economy. It is cattle feed, especially maize, oil cake from sunflower seeds, and other agricultural products, Latvian Television's De Facto reported October 1.
Despite sanctions and other risks related to business with Russia, many Latvian companies still export to this country. Recently, the Central Statistical Bureau (CSB) published a list of businesses continuing exports to Russia after the war began, and Latvian Television's De Facto attempted to take a closer look at it on August 28.
This week, Škoda Group representatives came to report on the progress of the new passenger train project in Riga. The delivery schedule is already delayed by more than half a year, and Latvia will lose co-financing of the EU if the trains will not be delivered on time, Latvian Television's De Facto reported on August 20.
Few subjects considered in the parliament gain so much attention from lobbying organizations as changes in smoking restrictions. MPs have received a pile of objections from various associations, particularly regarding the plan to ban flavors in electronic cigarettes, the De Facto broadcast of Latvian Television reported on June 11.
The National Health Service has already warned that e-Health will no longer be accessed by online banking identification tools from next year. The ministerial representatives responsible for IT systems say that online banking identification will also gradually disappear from other national e-services, the De Facto broadcast of Latvian Television, aired May 14, reported.
Russia's invasion of Ukraine led Latvia to reassess its military capabilities. The government in September backed a Defense Ministry plan to double personnel in the structures of the National Armed Forces in five years. Whether it will be done, it is not known at this time, and the reintroduction of mandatory defense service (VAD) will not recruit as many as initially planned, the De Facto broadcast of Latvian Television reported on February 19.
In the coming weeks, the future of the Skulte liquefied natural gas (LNG) terminal project could be decided. The government will have to decide whether to provide guarantees to the investor for covering losses if the terminal's load turns out to be too low, the De Facto broadcast of Latvian Television reported on February 13.
The government decided this week to reallocate half a billion euros for energy support measures this year. Data on aid amounts last year show that so much money is not likely to be paid out. The De Facto broadcast of Latvian Television reported January 22 that several aid programs save money, for example, where the purchase of wood must be proven by checks.
While the price of natural gas falls in Europe, heating bills for December arrive well higher than usual. Average temperatures in the last month of the year were lower than normal at that time, and thus bills increased by 50 per cent and more, according to the De Facto broadcast of Latvian Television aired on January 15.
In October, the story of the expected rapid increase in wages for political positions drew a lot of attention. A public initiative was submitted about the freezing of top state officials' salaries. The initiative has been transferred to the government, which should respond more than four months later, Latvian Television's De Facto reported on January 8.
Millions of euros from European funds and from Rīga Stradiņš University were invested in a "Nuclear Medical Center" which should have become a state-of-the-art producer of cancer diagnostic preparations. However, the money ran out way quicker than expected, and a criminal case for the deliberate cause of insolvency has been initiated, Latvian Television's broadcast De Facto reported on December 11.
Electricity distribution for households in Latvia could be the most expensive in the Baltic if the tariff project submitted by the Distribution Network (Sadales tīkls, ST) to the Public Utilities Commission (SPRK) takes effect, according to Latvian Television's De Facto calculations. The authorities have started looking for ways to avoid rapid rises, the broadcast reported December 4.
In Rīga, a transitional period comes to a close, during which gambling companies had to close their halls at the historic center of Rīga. For a large part the authorization has already expired, some may still work for a few months. However, in four and five-star hotels, gambling may still be organized, and businesses are attempting to convert the gambling hall into a hotel, Latvian Television's broadcast De Facto reported on November 13.
The already high heat tariffs could also grow in municipalities using woodchips. From next year, the European Union will have to buy CO2 emissions allowances, reported the De Facto program of LTV on November 6. For district heating companies, this could mean additional costs of millions of euros, which will ultimately fall on the shoulders of the population in the form of an increase in tariffs.
As a result of the remuneration reform adopted last year, around three million euros have been allocated to wage increases for top state officials and politicians, Latvian Television's broadcast De Facto reported on October 18. However, clerk-level officials' salaries, which were the main target of the reform, have not been included in the budget.
The State Revenue Service (VID) has fined the “Bolt” taxi-on-demand company EUR 1.4 million for non-payment of corporate income tax (UIN). This is the second time the Latvian authority penalizes the Estonian unicorn for tax evasion in Latvia, Latvian Television's broadcast De Facto reported on September 11.
Developing aid systems, the government estimated that on average centralized heating would cost around €150 per megawatt hour during the heating season. However, the price of natural gas on the market has climbed so fast that rates are far above that threshold. Therefore, the principle of covering half of the increase in many places will still mean a bill rise by several times, Latvian Television's broadcast De Facto reported on September 5.
During the last month, approximately one terawatt hour of natural gas was pumped into Latvia from Russia, the head of "Latvijas gāze" (Latvian gas) Aigars Kalvītis confirmed July 28 to Latvian Television.