Business
Three-year-old fintech company Sun Finance reports 100m euro turnover
Financial technology company Sun Finance has reported a record-breaking year for 2019, recording turnover of EUR 101.5 million, an increase of almost three times compared with 2018 results, according to audited financial results. The group's net profit last year was EUR 7.1 million.
Foreign investors call for "openness" in deposit system tender
The Foreign Investors’ Council in Latvia (FICIL) has sent an open letter to the Ministry of Environmental Protection and Regional Development (VARAM) and the State Environmental Service (VVD) with an appeal to ensure openness in considering potential operators of a packaging deposit system, the influential organization said October 16.
Latvian researchers create weeding robot
Latvia University of Life Sciences and Technologies (LLU) has created a robot capable of distinguishing crops from weeds and destroying the latter, Latvian Television reported October 17.
Printful to open new Rīga facility
Latvian print-on-demand company Printful announced October 12 it is opening a third fulfillment center in Europe, and seventh globally. The new fulfillment center is in Rīga at Marupe Smart Park industrial space, and covers around 3,000 square meters with operations to be launched in the first quarter of 2021.
Businesses to watch from Liepāja
In this special feature, originally produced for the Baltic Business Quarterly magazine published by the German-Baltic Chamber of Commerce (AHK), Monta Glumane reports from Liepāja on the changing business landscape in Latvia's third-largest city, Liepāja, and profiles some of the companies leading an undeniable economic revival.
Legendary brand Dzintars: can it be saved?
Legendary Latvian cosmetics firm Dzintars, which went bankrupt in 2019, was recently purchased by Estonian Skinest Group. On September 29, LSM.lv spoke to industry experts about the potential future of Dzintars.
Second phase planned for 'Business Garden Rīga' development
Developers have announced a second stage of construction at the 'Business Garden Rīga' business park in the Latvian capital. Vastint Latvia is planning to launch its second phase of construction following a tender and is in the process of selecting construction partners.
Get your personalized bicycle in Dobele
Arvīds Borherts-Smiļģis has created a workshop in Dobele that makes bicycles in line with each customer's wishes, Latvian Television reported September 22.
Latvian IT industry awaits Belarusians with mixed feelings
Twelve information technology (IT) industry companies could move from Belarus to Latvia in the near future. Latvian IT sector is expecting the arrival of Belarusian colleagues with mixed feelings, Latvian Television reported September 15.
Famous Latvian cosmetics brand Dzintars changes hands
On Monday, September 14, the Estonian industrial group Skinest Group entered into a contract for the purchase of the assets of the bankrupt Latvian cosmetics and perfumery producer Dzintars, said group representative Anastasija Udalova. 
Foreign investors to talk about 'value of compliance'
Foreign investors and state officials will be getting together on September 10 under the auspices of the Foreign Investors Council in Latvia (FICIL) for a discussion titled "Value of compliance: what is the competitive advantage of Latvia?".
Thousands of athletes use innovation made by Latvian pupils
Four years ago, Aksels Zingulis and Reinis Nikuļcevs started a business while still at school. Now, their company RocketGrip exports an innovative product invented in Latvia - ice hockey equipment handles - to 45 countries, Latvian Television reported September 2.
Mountain of car tires might rise in Ķegums
Owners of adventure park "Dimantu kalns" in Ķegums have planned to expand their recreation area by raising a hill of 3,000 square meters - its base made of old tires, Latvian Radio reported August 17.
Latvian COVID-19 containment product platform a success
The interest in the platform established by the Latvian Investment and Development Agency (LIAA), which compiles products made in Latvia to help COVID-19 prevention, is high, but it is still necessary to address digital issues, said LIAA Director Kaspars Rožkalns August 16.
Traditional craft fair switches to online format
The annual fair organized by the Latvian Ethnographic Open Air Museum was due to celebrate its 50th anniversary season this year, however, due to restrictions on gatherings, the fair was postponed to 2021. However in order to provide buyers from Latvia and abroad the opportunity to purchase goods of local craftsmen and home producers and sellers to market their products, a sales portal www.egadatirgus.lv has been created.