Two of Latvia's most successful startups of recent years - with similar names, too - are at loggerheads in the U.S. courts.
On December 3, 2019 Latvian airline airBaltic played host to Minister of Transport Tālis Linkaits and media to show off its Airbus A220 flight simulator at the airBaltic Training facilities next to Riga International Airport. It is the first new full flight simulator ever purchased by a Latvian company and the newest such simulator in the world, the company said.
The Marguerite investment fund announced December 5 it had signed a sale purchase agreement with Marubeni-backed MM Capital Infrastructure Fund 1 to offload its 29.06% interest in AS Conexus Baltic Grid, the unified natural gas transmission and storage operator in Latvia.
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.
From now on, vehicles equipped with non-compliant winter tires will be banned from roads by having their roadworthiness certificate and license plates removed, the Road Transport Safety Directorate (CSDD) said December 3.
As anticipated, on December 3 economist Mārtiņš Kazāks was put forward by the ruling coalition as its pick to become the next governor of the Latvian central bank, Latvijas banka (LB), reported LTV.
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.
Data released by the Central Statistical Bureau (CSB) on November 2 show that in the third quarter of 2019, compared to the third quarter of 2018, average monthly gross wages and salaries grew by 8.3 % or EUR 84, reaching EUR 1 091 for full-time work.
Economist Mārtiņš Kazāks emerged as the front runner in the race to become the next governor of the Latvian central bank (LB) according to LTV.
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.
Data released by the Central Statistical Bureau (CSB) November 29 show that in the third quarter of 2019, compared to the same quarter of 2018, gross domestic product (GDP) (seasonally and calendar non-adjusted data) increased by 2.9 %.
Four people are in the running to become the next head of the Latvian Central Bank - and by extension a member of the European Central Bank's governing council - when the mandate of the current governor, Ilmārs Rimšēvičs, comes to an end on December 21.
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.
The future of Rail Baltica is in the balance due to poor corporate governance and conflicts of interest, according to a statement signed by 62 employees of RB Rail, the company overseeing the major infrastructure project, the LETA news agency reported November 27.
Swedish SEB bank released a statement November 26 in which it outlined some of its transactional data for Estonia in recent years, adding that since 2006 it "has taken considerable measures in order to minimize the risk of being exploited for money laundering in the Baltics."
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.
The company managing the 6-billion-euro Rail Baltica infrastructure project announced November 26 it had appointed Latvian Agnis Driksna, the Director of Development and Communications Department at “European Railway Lines” in the capacity of the interim Chief Executive Officer (CEO) of RB Rail AS.
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.
The Competition Council has found that even when drug manufacturers set lower prices in Latvia than in Lithuania and Estonia, the drugs can cost more for Latvian consumers due to the pricing mechanism. The Council will ask the responsible institutions to create a new mechanism that will make medicines more financially accessible, it said on its website.
Passeners with Latvian national airline airBaltic are expressing increasing dissatisfaction with recently-introduced changes to the company's baggage rules, reported Latvian Radio November 25.
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.
On Thursday, November 21 Saeima approved urgently considered amendments to the Law on the Movement of Genetically Modified Organisms in the final reading, ensuring tougher requirements for the supervision and control of genetically modified organisms (GMOs), according to the parliamentary Press Service.
LSM attended the World Latvian Economic and Innovations Forum November 21 in the northern city of Valmiera.
During the first ten months of this year, the State Revenue Service collected EUR 8.141 billion in budget revenue, which is EUR 43.57 million or 0.5 percent above the target, the Revenue Service said, according to the LETA newsire.