Rail Baltica delayed for at least two years, says Transport Minister
The major Rail Baltica railroad has been delayed for at least two to two-and-a-half years, and it is clear that the track will not be built in its entirety by 2026, said Transport Minister Tālis Linkaits (New Conservative Party) appearing on Latvian Radio's Krustpunktā February 21.
Latvian anti-money laundering service froze €101m of assets in 2018
The Control Service (Latvian Office for Prevention of Laundering of Proceeds Derived from Criminal Activity) last year issued 186 decrees and achieved freezing of €101.5 million of laundered money, according to the information released during the annual meeting of prosecutors today.
Subsidy for Rīgas Satiksme might grow despite belt-tightening
Despite the belt-tightening measures taken so far, the subsidy needed by Rīgas Satiksme municipal transport company this year might increase by another €12 million to €134 million, the company’s acting CEO Anrijs Matīss told LETA February 20.
TechChill week gets under way in Rīga
This week, Latvia again becomes  for the Baltic startup ecosystem, gathering more than 2,000 tech enthusiasts, experts, speakers and students from all over the world. More than 20 different side events are taking place all over the city celebrating ideas, startups and innovations, with the leading event - TechChill startup conference - hosting attendees eager to get inspired and meet like-minded people for the 8th year in a row.
New financial sector update available
A new edition of the Financial Sector Update bulletin that is part of the government's drive to improve the reputation of the financial sector, has been published at the Cabinet of Ministers website
Over 30 criminal cases started so far as ABLV bank folds
There are delays in returning the deposits of the clients of the folded ABLV bank, as the involved parties have not agreed upon the depth in which to probe account histories of potentially suspect clients, reported LTV's investigative show De Facto. Latvia's PM Krišjānis Kariņš has become involved, saying an agreement must be reached by February 20.
Latvia abandons "regional financial hub" aspiration
Latvia is officially giving up on its former ambitions to become a regional financial hub, after the government on February 12 discussed Finance Ministry proposals to delete wording expressing such hopes from the country's Financial Sector Development Plan.
Finance Ministry expects 3.2% growth this year, 3.0% next year
The Latvian Finance Ministry said February 14 it expects to see economic growth of 3.2% in 2019 and 3.0% in 2020. After that, growth rates are likely to tail off further to around 2.9% in both 2021 and 2022, the Ministry said in drawing up its Latvian Stability Program for 2019-2022.
8.8% leap in Latvia's foreign trade last year
Provisional data released February 12 by the Central Statistical Bureau show that in 2018, the foreign trade turnover of Latvia at current prices reached EUR 27.8 billion – EUR 2.25 billion or 8.8 % more than in 2017.
Finn Timo Riihimäki to take charge of Rail Baltica
The supervisory board of RB Rail AS announced in Vilnius February 12 it had appointed Finnish executive Timo Riihimäki as the new Chief Executive Officer and Chairperson of the Management Board of the Rail Baltica Joint Venture.
Electricity utility to start selling gas
The Latvenergo energy company will start selling natural gas to households under its Elektrum brand, Latvenergo representative Ivita Bidere told the LETA newswire February 12.
Inflation starts the year on 3%
The latest data released by the Central Statistical Bureau (CSB) February 11 show that in January 2019, compared to January 2018, the average level of consumer prices in Latvia rose by 3.0 %.
No wage rise for teachers this year
The new government of Krišjānis Kariņš (New Unity) has ruled that there won't be a wage raise for teachers this year, despite the previous government's plan of a hike to €750 instead of the current €710 a month, the PM told the press February 7.
US company acquires Latvia's Funderful
Ruffalo Noel Levitz, a US higher education company, has bought Latvia's Funderful for an undisclosed amount, Funderful founder and CEO Raimonds Kulbergs told the press February 8.