Sanda Liepiņa the Chief Executive Officer and Chairwoman of the Management Board of the Finance Latvia Association (FLA), will leave her post on June 28 to start working at the World Bank Group in Washington DC, USA, FLA said in a statement June 18.
About 900 business are at risk of liquidation for not revealing their true beneficiaries, warned Guna Paidere, the chief notary of The Register of Enterprises of the Republic of Latvia, as reported by LSM's Latvian service June 17.
Both forest workers and owners agree that the restoration and preservation of woodland is a difficult task. There is often a shortage of resources as well as knowledge and experience, and wildfires and wildlife also play a negative role. Although it is often believed that forests can grow and survive without human intercession, this happens to be a far cry from truth. In order to draw attention to this, the Latvian Forest Owners' Association is organizing for the third year already the “Best Forest” competition, reported LSM's Latvian service on June 17.
Latvian airline airBaltic in May 2019 has transported 470 025 passengers or 22% more than last year, it claimed June 17.
One of Latvia's major businesses, Valmiera Glass Group, announced June 17 it was filing for legal protection in Latvia as a result of difficulties with its operation in the United States.
Prime Minister Krišjānis Kariņš on June 13 swiftly commended the Latvian Saeima's passing of major reforms to financial sector supervision.
Latvia on June 13 failed to secure Rīga as the headquarters of the new European Labour Authority (ELA).
Saeima on June 13 passed a raft of reforms intended to strengthen the financial sector against use for money-laundering, sanctions-busting and other nefarious purposes.
After a two year interruption, the Ministry of Agriculture (ZM) are again advancing amendments to the Cabinet of Ministers regulations regarding the felling of trees, reported LSM's Latvian service on June 12. The changes include, among other things, allowing the felling of younger and thinner trees in Latvian forests. Environmental organizations call for a halt to the advancements and urge the creation of a working group to resume discussions of environmental risks. Meanwhile, forest owners point out that, together with felling regulations, stricter rules for reforestation are being advanced.
The “RB Cafe”, opening on June 12, is a brand new example of social entrepreneurship, a business model that aims to solve various social problems and benefit the community at large. The cafe, on Bruņinieku iela 63, has employed seven individuals with disabilities.
Latvia's government tried to talk up its ongoing efforts to clean up the country's banks June 10, releasing its latest update on the financial sector.
The latest data released by the Central Statistical Bureau (CSB) on June 10 show that in May 2019, compared to May 2018, the average level of consumer prices rose by 3.3 %.
Latvian central bank chief Ilmārs Rimšēvičs took center stage for the first time in months June 7 at a press conference that was supposed to be about macroeconomic forecasts - but found himself upstaged by a protester who managed to stand next to him at the heart of the central bank while displaying an embarrassing placard.
Regional infrastructure project Rail Baltica has launched what it calls a "Digital information center" - in effect a reference section of its website - to update the public about what it is and what it's doing.
The board of the State JSC “Latvian Railways” will continue its work, said Edvīns Bērziņš, the chairman of the board of the company, speaking about the anticipated council meeting, in which the dismissal of two board members – Aivars Strakšas and Ainis Stūrmanis – was to be discussed.
The restoration of the former restaurant “Sēnīte” has been delayed yet again and in all likelihood will not be continued.
The further east you go in Latvia, the less optimistic the business sentiment becomes, according to the latest edition of Citadele bank's business index survey.
Data from the Central Statistical Bureau (CSB) released June 4 show that, compared to the 1st quarter of 2018, in the 1st quarter of 2019 freight turnover at ports increased by 1.6 million tonnes or 10.4 %.
From June 4 to June 7, Riga Bike Week is taking place at the Riga Motormuseum. As part of the event, children, adolescents, and adults will have an opportunity to pass a free bicycle driver's test. Three theoretical tests are scheduled for each of the four days. The limit of participants for each test is 15.
Latvian airline airBaltic has expanded its operations in the Estonian capital, Tallinn by launching three new flights to Malaga, Copenhagen and Brussels.
The number of lanes on the Jūrmala highway will be reduced to enable repair work, Jānis Lange, the chairman of Latvian State Roads, said in an interview on Latvian Television.
The Corruption Prevention and Combating Bureau has completed analysis of 16 political parties and associations' income and expenditure statements for a period leading up to the 13th Saeima elections, and concluded that the parties had failed to disclose information on €79,183 in total as well as information about illegal donations received by the parties in the amount of €7,551, the bureau told the press.
Data compiled by the Central Statistical Bureau (CSB) and released May 31 show that in the 1st quarter of 2019, compared to the 1st quarter of 2018, Latvia's gross domestic product (GDP) (seasonally and calendar non-adjusted data) increased by 3.0 %.
The influential Foreign Investors Council in Latvia (FICIL) had its annual meeting with central government in Rīga May 31, with both sides agreeing their priorities for the business and investment environments in the country are closely aligned.
Calendar adjusted data (at constant prices) compiled by the Central Statistical Bureau (CSB) and released May 30 show that, compared to April 2018, in April 2019 total retail trade turnover rose by 7.0 %.
Latvia's financial regulator the Financial and Capital Market Commission (FKTK) said May 29 it had decided to cancel the license held by ABLV Capital Markets, IBAS, a subsidiary of ABLV bank, for investment services and ancillary investment services.
The Latvian economy is doing well and catching up with more developed countries, but efforts should focus on reducing inequality, responding to the challenges posed by an ageing population and making growth greener, according to two new reports from the Organization for Economic Cooperation and Development (OECD).
If you're the sort of high-roller who is regularly peeling off large-denomination banknotes and slapping them into the pot while holding aces over kings, then you'll want to familiarize yourself with the new €100 and €200 banknotes that enter circulation across the Eurozone, of which Latvia is a part, from today.