Latvia's financial regulator, the Financial and Capital Markets Commission (FKTK) said January 16 it had imposed a fine of EUR 10,000 on JSC "Rīgas kuģu būvētava" (Riga shipyard) for violation of the Financial Instruments Market Law and ordered it to immediately publish financial information for the first nine months of 2019.
The Foreign Investors' Council in Latvia (FICIL) presented its annual Sentiment Index at the Stockholm School of Economics in Rīga January 15, and the occasion revealed that while things seem to be improving in general, the pace of improvement could certainly be picked up.
The State Environmental Service (SES) announced that Latvian residents have no need for concern about the waste water from the Grigeo Klaipeda factory that ended up in the Baltic Sea, as it has dispersed off the coast of Liepāja and meets all water quality standards, according to a Latvian Radio broadcast on January 16.
Many Latvian home producers begin to struggle once their business has to pay VAT, so to deal with supermarket chains home producers have been forming cooperatives, according to a Latvian Radio broadcast on January 13.
January 15 sees the presentation at the Stockholm School of Economics in Rīga of the annual Foreign Investors' Council in Latvia (FICIL) Sentiment Index, which has become an important economic indicator for businesses, commentators and policymakers alike.
Baltic fashion company Baltika Group, which operates the Monton and Mosaic fashion stores in Latvia, as well as Ivo Nikkolo and Baltman, announced January 13 that Monton and Mosaic will be merged under a single brand in future.
Two impossible-to-miss buildings of the Rīga skyline that have been growing but unused for more than a decade moved closer to opening their doors at last January 10 when the Rīga City Construction Board issued a positive verdict on the commissioning of the "Z-Towers" high-rise blocks, representatives of developer AS Towers Construction Management informed the media.
A contest for one of the most important jobs in the land has been concluded, with the net result that potential overseas investors will have a new face, a new name and a new business card with which to become acqualnted.
On 1 January 2020, amendments to the Competition Law of the Republic of Latvia entered into force prohibiting public administrative bodies – including the state, local government and capital companies owned by them – to violate the principle of equal competition by unduly restricting or denying the private sector an opportunity to operate on the market, the national Competition Council said in a news release.
Estonian real estate fund EfTEN Capital has bought a large-scale logistics center in Ķekava on the outskirts of Rīga, the company announced January 6.
Information collected at Latvia's business database, the Register of Enterprises, over the past thirty years will be available to the public free of charge as of next week, as Chief State Notary Guna Paidere told reporters January 3.
An entrepreneur plans on investing one million euros in reconstructing the Old Town square territory located near the Rīga City Council, and known for the “Egle” open-air cafe, artisan market and the 7.5 meter tall mirror Christmas tree art installation, according to a Latvian Radio broadcast on December 29.
The Latvian Rural Advisory and Training Centre has developed an electronic catalogue for directly contacting local food producers in Latvias regional territories, according to a Latvian Radio broadcast on December 26.
Organizers of what is claimed to be "the biggest business festival in the Baltics" are inviting Latvian entrepreneurs to attend "sTARTUp Day 2020" in the southern Estonian city of Tartu on January 29-31.
UPB Group was the largest construction enterprise in Latvia during 2018 with turnover of EUR 167.665 million, according to the Latvian Business Annual Report compiled by Firmas.lv and the LETA news service.
The Patent Office announced on December 18 that 28% of Latvian companies feel their knowledge about industrial property protection is adequate or good, but more than 70% rate it as incomplete, according to a study by the Patent Office and the SKDS research center, which included 3,622 Latvian companies.
Owners of a Latvian eco cleaning company realized the long-term sustainability of the market, invested a great amount into a production facility, and as a result are exporting their products to countries such as Canada and the United Arab Emirates, according to LTV's Rīta Panorāma broadcast on December 12.
There will be a reauctioning with a two month application deadline for renting the “Corner House”, or Teter's House (61 Brīvības Street) , as several market participants have shown interest, State Real Estate (VNĪ) Board Chair Andris Vārna told Latvian Radio on December 11.
On December 8 LTV's De Facto investigative team said they uncovered the identity of the mystery Skonto Stadium buyer who purchased the property in 2015 for 35 million euros via the Belize tax haven, His name is Andrey Rogachev, the report revealed.
The number of student businesses has been rapidly increasing - 1100 were registered at the time of the Other Bazar (Cits Bazārs) organized by the Latvian Investment and Development Agency (LIAA) and Junior Achievement Latvia (JA Latvia) on December 7 in Rīga, according to a Latvian Radio December 8 broadcast.
In 2015 brothers Viesturs and Jānis Kuļikovskis decided to use Latvian know-how and technology to start Alfa Fintech Indonesia, an online P2P lending platform in the world's fourth most populous country, where half of the population doesn’t have a bank account and only 2.4% of people have a credit card (Forbes, May 2019).
Two of Latvia's most successful startups of recent years - with similar names, too - are at loggerheads in the U.S. courts.
Lūznava Manor held a "Creative UNworkshop" (“Radošā NEdarbnīca”) on November 29 to find a use for the manor's old school building, and one of the solutions was modernizing the space by using it for social entrepreneurship, according to a Latvian Radio broadcast on December 2.
Representatives from Estonian property developer Direct Invest Group announced on December 2 that it had begun development of a Class A office center on Balasta Dam in Rīga, investing an estimated 30 million euros.
Latvian company CakeHR achieved the dream of many a startup November 28 when it announced it had been bought by a major multinational company.
Latvia's consumer watchdog, the Competition Council (KC) announced December 2 that on November 21, it ruled that the DEPO chain of DIY stores had not provided full information it had requested and consequently would be subject to a fine of EUR 701,811.
With LMT opening of the first 5G communications base station in Latvia this year, the widely-discussed technology is slowly becoming a reality. The question remains, once we have 5G technology, what do we do with it? LSM.lv went to the 5G Techritory conference held in Rīga on November 27 and 28 to find out.