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.
A group of influential foreign figures in the Latvian capital issued a withering statement November 27 after Rīga mayor Oļegs Burovs cancelled a planned meeting with them.
Latvia will have a presence at the Dubai EXPO 2020 event, but the form that participation will take remains to be decided, Economics Minister Ralfs Nemiro said November 26.
Dabas dots Founder Ronalds Briņķis decided to begin commercially producing the natural juices and teas he made at home to regain his strength after distance running. Now his company manufactures the products in the Nākotne, or “Future” district of Latvia, and began exporting to Germany in June, Briņķis told the LTV Rīta Panorāma broadcast November 26.
Cross-border booze runs by alcohol-seeking Estonians may be starting to dry up, according to our colleagues at ERR News in Tallinn.
The TechChill startup and business festival has opened applications for its annual pitch competition, the Fifty Founders Battle.
LSM attended the World Latvian Economic and Innovations Forum November 21 in the northern city of Valmiera.
Riga became a technology hotspot for a day during the fifth Digital Freedom Festival conference, gathering tech speakers and attendees from around the world at Hanzas Perons on November 15.
The United States Embassy in Latvia said November 14 that New York-based fashion designer and sustainability consultant, Noor Bchara will make a four day visit to Riga from November 19 to 22 to give seminars on upcycling and repurposing design items and to meet with representatives of the Latvian fashion industry in connection with Global Entrepreneurship Week.
An advertisement campaign to promote the Latvian capital, Rīga, has won an international award.
Fears about the future of the Latvian Independent Television (Latvijas Neatkarīgā Televīzija) news division came to fruition November 7 when All Media Baltics Communications Manager Alise Mališko announced that all of their products will be rebranded and unified under the TV3 brand.
November 5 was an eventful day at the Rīga City Construction Board. Board Director Inguss Vircavs raised the alarm claiming that political pressure is being exerted, and that workers are being forced to hurriedly perform their duties and formally complete construction of the Z-Towers skyscrapers in Pārdaugava, Rīga, which belong to millionaire Yuri Shefler. The Mayor of the capital city, Oļegs Burovs ("Honor to Serve Riga"), has been named as the one exerting the pressure. He claims that the construction board is too bureaucratic.
Financial watchdogs in the USA, Sweden and Estonia have initiated a wide-ranging investigation into the operations of Swedbank, the largest financial institution in the Baltic states, reported LTV's De Facto investigative show November 3.
Magnetic Latvia Startup, together with TechChill, is organizing a startup-investor matchmaking breakfast in Helsinki on November 22 as part of Slush 2019, the international startup and technology conference.
The tech ecosystem was already thriving when Latvia became the first country to pass a special 'startup law'. The number of new businesses being founded or moving to Latvia is increasing with every year, but whether you're a local, or got a visa via the startup law, new entrepreneurs can frequently find it confusing to navigate the Latvian media landscape.
Latvia's financial regulator, the Financial and Capital Markets Commission (FKTK) said October 30 that car leasing company "mogo" was in breach of the law but that it would not be penalised as a result.
The World Bank publication "Doing Business 2020" once again ranks Latvia in 19th place among 190 countries around the world, according to the report published on Thursday, October 24.