Officers of Latvia's dedicated anti-corruption force, the Corruption Prevention and Combating Bureau (KNAB) have raided the office of and a property belonging to long-time central bank governor Ilmārs Rimšēvičs, LTV reports.
ABLV bank the Latvian lender at the center of serious allegations of money-laundering by the U.S. authorities has had its membership of the Association of Latvian Commercial Banks (ALCB) "temporarily suspended" the association said February 16.
Spot checks conducted by the State Revenue Service (VID) and the Riga Municipal Police (RPP) on taxi service providers have turned up a total of 81 violations detected in 48 control visits.
The actual route of the planned Rail Baltica rail link through the Baltic states has been finalised following the necessary paperwork being completed in Estonia, the consortium in charge of the project said February 15.
Embattled ABLV bank February 14 called a "press briefing" to respond to allegations by the U.S. Treasury that the bank is a massive money laundering operation.
2.58 million visitors stayed at Latvian tourist accommodation establishments in 2017 new data released February 14 showed.
The industry body that represents most of Latvia's banks responded to the prospect of the country's second-largest bank - one of its own members - being frozen out of the dollar banking system by making the self-evident statement that using the banking system for "illicit activities" is unacceptable.
The Cabinet of Ministers on February 13 postponed making a decision on how to attract skilled foreign professionals, saying that discussions are still needed on which separate professions to include on a list.
A senior official at the United States Treasury said February 13 that leading Latvian bank ABLV was "a foreign bank of primary money laundering concern for, among other things, having orchestrated money laundering schemes and obstructed regulatory enforcement."
Latvia’s economy in 2018 will grow to 4%, in 2019 to 3.4%, and in 2020-2021 to 3%, said the Finance Ministry in its latest macroeconomic forecasts.
Arguments between shareholders of RB Rail, the joint venture in charge of implementing the Rail Baltica high-speed train project, might delay the project and absorption of the EU funds, said RB Rail CEO Baiba Rubesa in an interview with the commercial LNT television on February 13.
There's no real unemployment in Latvia, says Arnis Sauka, Assistant Professor at the Stockholm School of Economics, in an interview with Latvian Radio's Aiga Pelane.
The latest data compiled by the Central Statistical Bureau (CSB) show that, compared to 2016, in 2017 construction output increased by 19.5 % (according to calendar adjusted data at constant prices). Construction output at current prices amounted to 1.7 billion euros.
Anatomy Next, a human body simulator that allows doctors to practice in virtual reality, were the winners of pitching contest TechChill Fifty Founders Battle on February 9, walking away with a check for 10,000 euros as a result.
The latest data released February 12 by the Central Statistical Bureau (CSB) show that in January 2018, compared to January 2017 the average level of consumer prices in Latvia rose by 2.0 %.
More than 2,000 participants gathered in Riga February 8 for the two-day TechChill festival which is generally regarded as the season opener for the whole Baltic Startup scene. Three stages are in operation throughout the festival with a varied agenda ranging from the deadly serious to the decidedly lighthearted.
The Scandinavian banking group SEB in its latest Nordic Outlook has raised the forecasts for gross domestic product (GDP) growth in Latvia this year and next year.
Latvia should invest more in science, and science investment should be one of next year's budget priorities, says Finance Minister Dana Reizniece-Ozola.
The Finance Ministry does not approve of the parliament's decision to ban offshore companies from bidding for public contracts in Latvia because this decision may result in litigations, Finance Minister Dana Reizniece-Ozola (Greens/Farmers) told LETA on February 5.
Data released by the Central Statistical Bureau (CSB) February 5 show that, compared to 2016, in 2017 industrial production output increased by 8.5 % (according to calendar adjusted data at constant prices).
The cost of upgrading the tram lines in Latvia's second city, Daugavpils, has increased by 2 million euros, and due to design errors the planned reconstruction of the tracks has been stuck for almost half a year and could result in the loss of European funds needed for its completion, reports Latvian Radio.
The Latvian airline airBaltic received the eighth of its 20 Bombardier CS300 jets, registered as YL-CSH, in Riga on February 3, the company told the press.
The Fulfilli startup has attracted €300,000 in funding from an unnamed local investor, the company said.
In a February 2 press conference, after news of Estonian and Lithuanian shareholders expressing no-confidence against joint venture RB Rail boss Baiba Rubesa, she suggested there may be unfair interests at play, reported Latvian Radio.
A second-instance court ruled that €2 million seized by finance police in a 2014 case related to illicit local sales of gasoline that should have been exported, will be paid into the state coffers, the State Revenue Service said February 2.
The Administrative District Court on Wednesday satisfied the claim of the former owners of the Riga Circus building, Sarmite Bivina and Biruta Kreile, for compensation worth €1,015,549, the LETA newswire learned from the court.
Taxify may leave Latvia, should controversial rideshare regulations be adopted in current form, reports Latvian Radio on January 31.
The Transport Ministry wants to use part of excise tax levied on fuel to fund road maintenance starting 2020, Transport Minister Uldis Augulis told Latvian Television January 31.
The first tender for detailed technical design of the major Rail Baltica railway line in Latvia has been announced, the company overseeing the project said January 31.