Plans have been unveiled for the construction of a major industrial park with its own renewable energy plant near Rīga International Airport.
Latvian airline airBaltic has completed a full set of planes in the colors of the flags of the Baltic states, on August 8 revealing a jetliner in the Lithuanian colors to go with the already extant Latvian and Estonian flag liveries on other Airbus A220-300 planes, as previously reported by LSM.
The renovation of the Mežaparks Great Bandstand is one month ahead of schedule, reported LSM.lv on July 24.
Due to the present paucity of 5G devices, it is important now to focus on generating innovative solutions for the future use of 5G technology, the president of the Latvian Information and Communications Technology Association (LIKTA) Signe Bāliņa told LSM.lv on July 20.
Businessman Guntis Rāvis’ son Rihards Rāvis is taking over as head of Latvia’s Skonto Group as of July 19, the company’s representatives told the LETA newswire.
M.M.M. Projektai, a real estate company owned by Lithuanian businessman Nerijus Numavicius, plans to invest €200 million in Rīga over the next seven years through its Latvian subsidiaries, reported db.lv.
The new-generation 5G Internet network is not intended for general public use yet, but rather for the management of industrial and technological processes, according to Juris Binde, president of the mobile telecoms operator "Latvijas Mobilais telefons" (LMT), speaking in an interview on LTV and Latvian Radio July 19.
The Printful Latvia company, part of Draugiem Group, has bought 6,578 square meters of land near its headquarters on Rīga's left bank in a deal worth €530,000.
The majority of the 134 green energy producers, whom the Ministry of Economics have threatened with aid suspension, have submitted the document specifications demanded by the Ministry, reported LSM's Latvian service on July 2. If this turns out to be enough, the state will continue buying electricity at a higher price from these producers. It is already known, however, that 13 producers will lose state support in July.
The former restaurant “Sēnīte”, which has stood neglected for almost 20 years, is being sold with an asking price of 580 000 euros, according to an advertisement on the website of the “ober-Haus” real-estate company, reported LSM's Latvian service on July 3.
The interim supervisory board of Latvia’s Latvenergo energy company that was appointed by Economics Minister Ralfs Nemiro (KPV LV) on June 19 resigned July 1 after less than two weeks, reported the LETA newswire.
The sweet manufacturer “Skrīveru saldumi” has come to the attention of the State Revenue Service (VID). The company has a tax debt of several tens of thousands of euros. In order to ensure that the debt does not increase, VID has forbidden the company to register any new commercial pledges. The company has already agreed with the State Revenue Service on the debt repayment schedule, reported LSM's Latvian service on June 26.
As of the beginning of June 2019, “Skrīveru saldumi” has a debt of more than 75 000 euros. “It's a big number, I agree. But if we look at the total amount of taxes we pay per year, which is 600 thousand, then on average it makes up one month's tax. The number is great, but it's one month,” noted Oskars Brediks, board member of “Skrīveru saldumi”.
As of the beginning of June 2019, “Skrīveru saldumi” has a debt of more than 75 000 euros. “It's a big number, I agree. But if we look at the total amount of taxes we pay per year, which is 600 thousand, then on average it makes up one month's tax. The number is great, but it's one month,” noted Oskars Brediks, board member of “Skrīveru saldumi”.
Since 2006, when the foundation was laid for the mandatory procurement component (MPC) system, MPC businessmen have donated 1 333 122 euros to political parties, as reported by the Ir news weekly, said LETA on June 27. The MPC is a controversial surcharge on electricity tariffs that was originally intended to promote the growth of green energy but which has come under severe criticism after allegations the system is being widely abused.
In order to develop a higher-value economy in Latvia, it is necessary to change the age-old university management model, said Mārtiņš Panke, executive director of the Council of Foreign Investors in Latvia (FICIL), in an interview with Latvian Radio on June 25.
There are plans to build a new passenger terminal at Liepāja Airport, which could cost around two million euros, said Gints Ginters, Head of the Business Development Department of the Liepāja Special Economic Zone (SEZ), reported LSM's Latvian service on June 25.
He said that the passenger terminal needs to be built to provide a modern and convenient passenger and luggage service for the current Latvian national airline “airBaltic” flight, as well as planned future schedules and charter flights.
He said that the passenger terminal needs to be built to provide a modern and convenient passenger and luggage service for the current Latvian national airline “airBaltic” flight, as well as planned future schedules and charter flights.
While the market pavilion is being refurbished, retail is rife in the market yard.
It comes as a great surprise to many that the Āgenskalns market continues working. Indeed, ahead of the midsummer festival, the Āgenskalns market yard had offered all the necessities for celebrating Līgo.
It comes as a great surprise to many that the Āgenskalns market continues working. Indeed, ahead of the midsummer festival, the Āgenskalns market yard had offered all the necessities for celebrating Līgo.
In an unheralded move June 19, energy giant Latvenergo had its entire Supervisory Board dismissed at the behest of Economics Minister Ralfs Nemiro (KPV LV party), LSM's Latvian language service reported.
One of Latvia's major businesses, Valmiera Glass Group, announced June 17 it was filing for legal protection in Latvia as a result of difficulties with its operation in the United States.
After a two year interruption, the Ministry of Agriculture (ZM) are again advancing amendments to the Cabinet of Ministers regulations regarding the felling of trees, reported LSM's Latvian service on June 12. The changes include, among other things, allowing the felling of younger and thinner trees in Latvian forests. Environmental organizations call for a halt to the advancements and urge the creation of a working group to resume discussions of environmental risks. Meanwhile, forest owners point out that, together with felling regulations, stricter rules for reforestation are being advanced.
The “RB Cafe”, opening on June 12, is a brand new example of social entrepreneurship, a business model that aims to solve various social problems and benefit the community at large. The cafe, on Bruņinieku iela 63, has employed seven individuals with disabilities.
The board of the State JSC “Latvian Railways” will continue its work, said Edvīns Bērziņš, the chairman of the board of the company, speaking about the anticipated council meeting, in which the dismissal of two board members – Aivars Strakšas and Ainis Stūrmanis – was to be discussed.
The restoration of the former restaurant “Sēnīte” has been delayed yet again and in all likelihood will not be continued.
The further east you go in Latvia, the less optimistic the business sentiment becomes, according to the latest edition of Citadele bank's business index survey.
The influential Foreign Investors Council in Latvia (FICIL) had its annual meeting with central government in Rīga May 31, with both sides agreeing their priorities for the business and investment environments in the country are closely aligned.
The real estate developer Linstow Center Management (Linstow) has sold Galerija Centrs shopping mall in Old Rīga to Baltic Horizon Fund real estate fund for €75 million, Newsec consultancy, which arranged the deal, told LETA May 28.
The boom in alcohol sales caused by Estonians and others coming to Latvia to take advantage of cheaper prices shows no sign of abating, according to Estonian public media's English-language service ERR News.
Latvian business owners have positively rated the tax payment and administration process, according to the latest Citadele Index survey of business owners conducted by Citadele Bank and SKDS.
A business conference held in Rīga in April has spawned eight new startup companies, organizers claim.
Latvian Fintech company Mintos said April 15 it is launching the "Mintos Impact Fund", the first initiative of which will be cleaning up the Baltic Sea together with Pasaules Dabas Fonds (the local associated partner of WWF) and WWF Deutschland.
The Akropole shopping center was on April 4 opened to the public, the company told the press.