National postal service Latvijas Pasts has acquired the independent Pasta Stacija parcel terminal chain with its 61 terminals from the Baltcap investment fund for 1.8 million euros, said the company’s chairman Marcis Vilcans, cited by the LETA newswire August 22.
Data from the Central Statistical Bureau (CSB) released August 21 show that, compared to June, in July 2019 level of producer prices in Latvian industry fell by 0.2 %.
Latvia's banking regulator, the Financial and Capital Market Commission (FKTK) announced August 22 it had applied to declare the country's sixth largest bank, PNB banka, insolvent.
Latvia's financial regulator, the Financial and Capital Markets Commission (FKTK) announced August 20 a 1,000 euro fine on international fiberglass company Valmiera Glass (joint stock company Valmieras stikla šķiedra)
Latvian airline airBaltic held a special event August 21 to show off the three planes in its fleet painted in the colors of the flags of the Baltic states.
In a week's time, from August 30 to September 1, what is being claimed as "the biggest innovation event of this summer" – the innovation and technology festival iNOVUSS – will take place on Lucavsala island in the middle of the River Daugava, Rīga.
Latvian dairy cooperative Piena Ceļš (Milky Way) plans to team up with Estonian cooperative Epiim and invest 100 million euros in a new dairy plant in Estonia for processing milk supplied by Latvian and Estonian farmers, Piena Ceļš board chairman Raimonds Misa told the LETA newswire August 20.
Latvia's government declared war on red tape and unnecessary paperwork August 20 with the launch of what it is calling a "zero bureacracy" initiative.
Board game company Brain Games Ltd. which was founded in Latvia, has acquired Lithuanian board game, puzzle and toy retailer and wholesaler New Media Publishing Ltd, becoming in the process the largest chain of board game shops in the Baltics.
In the case of a no-deal Brexit, Latvia's payments into the European Union budget could increase by about EUR 23.27 million, according to report from the Finance Ministry submitted to the Cabinet of Ministers, the LETA newswire reported August 18.
In a further development of the situation at PNB bank, which has had its operations suspended by the European Central Bank, which deemed it likely to fail, the owners who only recently took over the bank released a statement August 18 saying they think it can be saved.
Citadele bank will handle the process of paying depositors in PNB bank the money they are owed, Latvia's financial regulator and other officials said August 17.
Following the suspension of PNB Bank's ability to offer services as a result of action by the European Central Bank (ECB) and the Financial and Capital Markets Commission (FKTK), almost 300 million euros will be paid out to depositors, FKTK's acting chairwoman said August 16.
Latvia's PNB banka - formerly known as Norvik - is to be shut down, the European Central Bank announced August 15.
Figures released by the Central Statistical Bureau (CSB) show that in the 2nd quarter of 2019 Latvia's unemployment rate constituted 6.4 %.
Latest data of the Central Statistical Bureau (CSB) show that 781 thousand visitors stayed at Latvian tourist accommodation establishments in the 2nd quarter of 2019, which is 1.1 % more than in the 2nd quarter of 2018.
A contest to find a new and confidence-inspiring head of Latvia's financial regulator, the Financial and Capital Markets Commission (FKTK) has attracted 25 applicants in the initial stage, the government press office revealed August 13, one day after submissions for the job closed.
The Cabinet of Ministers has approved amendments to the Postal Law which state that an additional EUR 3.7 million is to be allocated from the 2020 budget for printed press supplies, reports LETA on August 13.
The first receipt lottery draw took place last Sunday, August 12. With more than 1.7 million receipts, cheques and tickets submitted, deputy director general for taxation at the State Revenue Service (VID), Dace Pelēkā considers the first month of the lottery to have been very successful, reported LSM.lv on August 12.
Latvia's financial regulator, the Financial and Capital Markets Commission (FKTK) on August 12 said it had deleted the register entries of two firms dealing with electronic money transfers.
Plans have been unveiled for the construction of a major industrial park with its own renewable energy plant near Rīga International Airport.
Provisional data released August 9 by the Central Statistical Bureau (CSB) show that in June 2019 Latvia's foreign trade turnover amounted to EUR 2.19 billion at current prices - a figure 10.3 % less than a year before.
After two years of poor harvests, farmers can finally breathe a sigh of relief, as not only the grain harvest is expected to be good this year, but also the fruit and berry harvest, the head of the Latvian Council for Cooperation of Agriculturalist Organizations (LOSP) Edgars Treibergs told the LETA newswire.
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.
Reducing VAT on books to 5% will have only a slight impact on the state budget, but it will help to stabilise the publishing industry, said Renāte Punka, chairperson of the board of Latvian Publishers Association, in an interview with Latvian Radio on Thursday, 8 August.
The latest data of the Central Statistical Bureau (CSB) released August 8 show that in July 2019, compared to July 2018, the average level of consumer prices rose by 2.9 %.
The Chairman of the Board of PNB Banka, Briton Oliver Bramwell, has left the post he had held since 2013, the bank has announced.
On August 6, 2019, the Executive Board of the International Monetary Fund (IMF) concluded the annual Article IV consultation with Latvia and considered and endorsed their staff appraisal, the international lender said.
Ten European cities have been shortlisted for the 2020 European Capital of Smart Tourism, but not a single one comes from the Baltic states.
Last year saw the increase of the number of Latvian residents who struggled to pay back their loans and were forced to extend their loan repayment deadlines three or four times, said head of Consumer Rights Protection Centre (PTAC) Baiba Vītoliņa at a press-conference on August 6.