Economy
Akropolis Group completes Alfa shopping mall purchase
Lithuania's Akropolis Group, the company which owns and manages shopping and entertainment centers Akropolis in Vilnius, Klaipėda and Šiauliai, as well as Akropole in Rīga, announced December 1 it has completed the acquisition of a major shopping mall Alfa in Rīga.
Check whether your car is ready for the Latvian winter
As of December 1, winter tires are mandatory on all vehicles. In eight cities of Latvia there will be an opportunity to check your vehicle for free to see how well the car is prepared for winter roads – whether the tires are adequate, lights adjusted, wipers of high quality, Latvian Radio reported.
GDP up 5.1% in third quarter in Latvia
According to the data published by the Central Statistical Bureau (CSB) on November 30, Latvia continued its GDP growth in the third quarter of 2021, though slower than in the second quarter.
Latvian beef producers take step forward in local sales
With the idea of providing quality beef to the local market, this summer, a cooperative Latvijas liellops (Latvian cattle) was created, in which 11 farms in this sector joined their forces. Until now, meat cattle have been mostly produced for export, Latvian Radio reported November 30.
Icy roads throughout Latvia Tuesday morning
November 30 morning, snow and ice throughout the country make it difficult to drive along the country's main and regional roads everywhere except the vicinity of Liepāja, according to the State JSC “Latvian State Roads”.
One in five employees in Latvia earn below minimum wage
For 20% of natural persons, income per month in Q3 of this year does not reach the minimum wage. Most of them are employees in companies, according to data from the State Revenue Service (VID), Latvian Radio reported November 29.
Retail trade dipped during October
Calendar adjusted data (at constant prices) compiled by the Central Statistical Bureau (CSB) and published November 29 show that, compared to October 2020, in October 2021 total retail trade turnover reduced by 2.3 %. 
NATO meeting to cause traffic restrictions in Rīga
If you are planning to travel in central Rīga over the next few days, you should be aware of numerous traffic restrictions in place becase of a meeting of NATO foreign ministers taking place in the capital.
Latvian 'green bonds' join Nasdaq Baltic bond list
Nasdaq announced November 29 that green bonds issued by Latvian transmission system operator Augstsprieguma tīkls AS (AST), have been listed on the Nasdaq Baltic Bond List in Rīga. AST becomes the first Baltic transmission system operator to issue and list green bonds on the Baltic market.
Working-age population declines in Latvia
In the last ten years, the average age of Latvian society has grown by four and a half years and the population of working age is gradually declining, Latvian Radio reported November 29.
New rules planned at Inčukalns gas storage facility
The Public Utilities Commission of Latvia (PUC) on November 26 announced a consultation on the amendments to the Regulations on the Use of the giant Inčukalns Underground Gas Storage Facility.
Saeima attempts to address complex property problem
Saeima on November 25 passed in its final reading the Law on Termination of Compulsorily Shared Property in Privatized Apartment Buildings, which will determine the procedure for creating a unified property when an apartment building with privatized apartments is located on land owned by another person.
870 km of roadworks promised for 2022
In the Ministry of Transport's budget plans for 2022, financing of 327.3 million euros is earmarked for the road sector to restore 870 kilometers of state roads, create pedestrian and bicycle infrastructure, as well as continue the construction of the Kekava bypass, LSM's Latvian language service reports.
PrivatBank Latvia hit with yet another fine for anti-money laundering failures
Latvia's banking regulator, the Financial and Capital Market Commission (FKTK) said November 23 it was hitting AS PrivatBank with a fine of more than three quarters of a million euros "for breaches of regulatory requirements in the field of anti-money laundering and combating terrorism and proliferation financing (AML/CTPF)", plus various other measures.
Rīga Airport sees passenger and cargo increases in October
According to data published of the Central Statistical Bureau November 23, in October 2021 passenger turnover at Rīga International Airport comprised 351,000 passengers, which is 3.9 times more than in October 2020 and 5.1 % more than in the previous month. 
Producer prices up in October
Data published November 22 by the Central Statistical Bureau show that, compared to September, in October 2021 the level of producer prices in Latvian industry increased by 1.2 %. Prices of products sold on the domestic market rose by 2.8 %, but prices of exported products reduced by 0.2 %. Producer prices of products exported to euro area countries increased by 1.0 %, but prices of products exported to non-euro area countries decreased by 1.2 %.
Spain and the Vatican make up Latvia's travel 'green list'
The updated list of epidemiological requirements for arrivals into Latvia from other countries was published on November 19, with just Spain and the Vatican  remaining on the 'green list' of European countries. Malta drops off the list from last week.
5G Techritory runs November 22-25
November 22 sees the start of the annual 5G Techritory event, which is recent years has become an important meeting place to plot the future uses of 5G technology in the Baltics and beyond.
5G frequencies to be auctioned December 16
On 16 December 2021, the Public Utilities Commission of Latvia (PUC) will organise an auction for mobile operators regarding the deployment of the 5G network in the 700 MHz band, the PUC has announced.

Please be aware that the LSM portal uses cookies. By continuing to use this site, you agree that we may store and use cookies on your device. Find out more

Accept and continue