Meridian Trade Bank (MTB) said January 22 it is changing its name to "Industra".
The non-profit state joint-stock postal services company Latvijas Pasts plans on minimizing the number of employees and closing post office branches in the regional areas of Latvia, Latvijas Pasts Board Chair Mārcis Vilcāns said in an interview on Latvian Radio’s “Krustpuntā” broadcast on January 22.
A year-long crackdown on Latvian banks' reputation for money laundering and sanctions dodging appeared to have paid dividends January 22 with official recognition of its success from an important international organization.
Over the last few years Latvian ports have been experiencing a decline in cargo transfers due to Russia's strategic decision to divert cargo to help develop their own ports, however despite port management reforms, the ports are continuing to seek new ways to attract cargo, according to a Latvian Radio broadcast on January 22.
One of the most important Latvian scientific accomplishments of the year, the development of a new direct current power supply system for manufacturing, has made its way to the new Daimler AG car factory in Germany, helping to make the S-Class Mercedes Benz more cheaply by using less electricity, according to Latvian television's “Rīga Panorāma” broadcast on January 20.
Latvian railways “Latvijas Dzelzceļš” (LDz) Board Member Andris Lubāns announced that last year's cargo volumes, which were 41.5 million tonnes, were the lowest in 17 years, according to a Latvian Radio broadcast on January 21.
Swedish bank SEB said January 21 that the effects of a general global economic slowdown are starting to be felt in the Baltic states.
The Central Statistical Bureau announced that 53.8% of the Latvian population uses the internet to purchase goods and services and that the percentage is slowly increasing, with the biggest e-commerce users between the ages of 16-34, according to Latvian Radio's “Eiro Fokusā” (“Euro in Focus”) broadcast on January 20.
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.
Details were published January 17 of the ongoing liquidation of ABLV bank, which collapsed in the wake of a damning U.S. Treasury report in 2018.
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.
Geotechnical exploration works on the Rail Baltica route through Riga get under way 17 January, according to RB Rail, the company responsible for building the 6-billion-euro infrastructure project.
A study estimates that the Latvian state budget could gain an additional 17-30 million euros per year by implementing a 3% digital services tax, according to a Latvian Radio broadcast on January 16.
The unofficial “left bank alliance”, which is made up of neighborhood associations from the Āgenskalns, Bieriņi, Torņakalns and Zasulauks suburbs of Rīga, has expressed alarm over the planning of the Rail Baltica rail route, concerned that the once-in-a-century project could create a barrier bisecting the area and upend traffic with complicated crossings, according to a Latvian Radio broadcast on January 16.
The management of Latvia's state-owned railway company Latvijas dzelzceļš (LDz) announced large-scale job losses within the company January 16.
Latvian airline airBaltic said January 16 that in 2019 it carried more than 5 million passengers for the first time in its history.
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.
Small wine producers have teamed up with fruit and berry processors to propose a broader application of seasonal worker income tax reductions to promote worker registration, according to a Latvian Radio broadcast on January 14.
The Latvian government has published the latest in its series of English-language financial sector updates as effforts continue to persuade the international community that Latvia's banking sector is no longer in the business of aiding money laundering and tax evasion.
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.
The latest data released January 10 by the Central Statistical Bureau (CSB) show that in December 2019, compared to December 2018, the average level of consumer prices rose by 2.3 %.
According to the State Employment Agency (NVA), 6.2% (57,808 persons) of economically active Latvian citizens were registered as unemployed at the end of 2019, which is 0.4% (53,783 persons) higher than the previous month, the LETA news agency reported January 10.
From February 1, passengers on several Rīga trolleybus and bus routes will have to hop aboard via the front doors only and alight from the other doors, municipal transport company Rīgas satiksme said January 10.
Before the January 9 meeting of state secretaries discussing amendments to the Regulations on Tree Felling in the Forest, an open letter from foresters asked for sustainability and smart forest management to be considered, while environmental organizations announced opposition, according to Latvian Radios's afternoon “Pēcpusdiena” broadcast on January 9.
Last year 32.762 million tonnes of cargo were transferred at the Freeport of Riga, which is 10.1% less than in 2018, according to information from the port on January 9.
Rīga International Airport consolidated its position as by far the busiest airport in the Baltic states during 2019, with figures reported January 8 claiming another year of double-digit growth in passenger numbers.