https://eng.lsm.lv/ eng.lsm.lv en https://eng.lsm.lv//assets/logo/lsm_hi.png https://eng.lsm.lv/ https://eng.lsm.lv/article/economy/business/15.07.2026-rezekne-to-host-second-dual-use-export-forum.a655132/?utm_source=rss&utm_campaign=rss&utm_medium=links Wed, 15 Jul 2026 09:23:29 GMT 655132 Latvia's eastern city of Rēzekne will host the second “Latvian Dual-Use Export Forum” at the “GORS” concert hall on 7th September, it has been confirmed. https://eng.lsm.lv/article/economy/business/13.07.2026-latvia-buys-back-forest-from-swedish-owners-for-26-million-euros.a654854/?utm_source=rss&utm_campaign=rss&utm_medium=links Mon, 13 Jul 2026 10:10:00 GMT 654854 The Latvian state-owned company AS "Latvijas Valsts meži" (LVM) has purchased almost 5,000 hectares of forest land in Pasienes parish, Ludza region, from its previous Swedish owners for just over 26 million euros, the Ministry of Agriculture (ZM) announced on July 13th. https://eng.lsm.lv/article/economy/business/10.07.2026-no-decision-made-on-lmttet-ownership-issues.a653979/?utm_source=rss&utm_campaign=rss&utm_medium=links Fri, 10 Jul 2026 13:58:44 GMT 653979 In-depth negotiations are currently under way with no fewer than 23 investors regarding potential involvement in the purchase of shares of LMT and Tet from the Swedish telecommunications company Telia. This was stated by Economics Minister Viktors Valainis (Greens and Farmers' Union, ZZS) after an extraordinary government meeting convened specifically for this issue on July 10th. https://eng.lsm.lv/article/economy/business/09.07.2026-latvian-submerge-to-work-with-industry-giant-naval-group.a654425/?utm_source=rss&utm_campaign=rss&utm_medium=links Thu, 09 Jul 2026 06:16:17 GMT 654425 On Wednesday, July 8, the Latvian underwater drone manufacturer "SUBmerge Baltic" signed a memorandum of cooperation with the French defence and maritime technology company "Naval Group," Latvian Radio reported on July 8. https://eng.lsm.lv/article/economy/business/03.07.2026-new-customs-rules-aim-to-counter-shoddy-imports-into-eu.a653797/?utm_source=rss&utm_campaign=rss&utm_medium=links Fri, 03 Jul 2026 15:33:13 GMT 653797 New customs procedures for low-value shipments from third countries entered into force in the European Union from July 1st. The main aim of the changes is to ensure fairer competition conditions for European companies, improve consumer safety and reduce the uncontrolled influx of cheap goods of low quality. https://eng.lsm.lv/article/economy/business/30.06.2026-landmark-ipo-of-a-latvian-state-owned-company-deemed-a-success.a653213/?utm_source=rss&utm_campaign=rss&utm_medium=links Tue, 30 Jun 2026 06:59:44 GMT 653213 In the public offering of LAU Infra Group AS, investors acquired 3,944,893 shares with a total value of EUR 6.19 million, the company confirmed, marking a small but significant landmark in Latvian corporate history and a possible sign of things to come. https://eng.lsm.lv/article/economy/business/26.06.2026-diy-store-opens-in-ogre-latvia.a652742/?utm_source=rss&utm_campaign=rss&utm_medium=links Fri, 26 Jun 2026 10:37:00 GMT 652742 "Kesko Senukai," a chain of construction, repair, and household goods stores in the Baltics, opened a new "K Senukai" store in Ogre the week before last, with nearly two million euros invested in its development, the company reported. https://eng.lsm.lv/article/economy/business/26.06.2026-online-furniture-store-blocked-for-consumers-rights-breaches.a652752/?utm_source=rss&utm_campaign=rss&utm_medium=links Fri, 26 Jun 2026 08:31:00 GMT 652752 The Consumer Rights Protection Centre (PTAC) has restricted access to several websites operated by SIA "N1 HOME" due to violations. The company sells furniture online, and more than 220 complaints have been received regarding its operations since June of last year, according to PTAC. https://eng.lsm.lv/article/economy/business/17.06.2026-pet-food-factory-opens-in-ventspils-latvia.a651881/?utm_source=rss&utm_campaign=rss&utm_medium=links Wed, 17 Jun 2026 12:38:53 GMT 651881 On Friday, June 19, LLC "Pet Science Develop" will open a wet pet food production facility, with approximately 15 million euros invested in its construction within the Ventspils Port area, according to the Free Port. https://eng.lsm.lv/article/economy/business/17.06.2026-new-industrial-park-opens-in-eastern-latvia.a651847/?utm_source=rss&utm_campaign=rss&utm_medium=links Wed, 17 Jun 2026 10:21:55 GMT 651847 The first tenants, the mechanical engineering company SIA "EndLine" and the technical textiles manufacturer SIA "Magistr", are preparing to begin operations at the "Altop" industrial park in Lociki, Augšdaugava Municipality, LSM's Latgale editorial reports on June 17. https://eng.lsm.lv/article/economy/business/15.06.2026-majority-of-latvian-businesses-use-social-media.a651481/?utm_source=rss&utm_campaign=rss&utm_medium=links Mon, 15 Jun 2026 08:13:12 GMT 651481 In 2025, 63.6% of enterprises in the EU with 10 or more employees used any type of social media, up from 61.1% in 2023, according to fresh Eurostat figures.  https://eng.lsm.lv/article/economy/business/11.06.2026-latvian-company-buys-estonian-fish-processor.a651096/?utm_source=rss&utm_campaign=rss&utm_medium=links Thu, 11 Jun 2026 12:38:50 GMT 651096 Latvian AS "Brīvais vilnis" has bought the Estonian fish processing company "Saare Kala Tootmine", the company said in a statement. https://eng.lsm.lv/article/economy/business/10.06.2026-subscriptions-open-for-first-ipo-of-a-state-owned-company-in-latvia.a650903/?utm_source=rss&utm_campaign=rss&utm_medium=links Wed, 10 Jun 2026 10:04:00 GMT 650903 The subscription for the shares of LAU Infra Group AS within the framework of the initial public offering (IPO) begins today, June 10th. The company will publicly offer up to 6,400,421 shares, which are planned to be listed on the Nasdaq Riga Baltic Main List after the IPO. https://eng.lsm.lv/article/economy/business/03.06.2026-latvia-founded-prime-prometics-posts-standout-results.a649883/?utm_source=rss&utm_campaign=rss&utm_medium=links Wed, 03 Jun 2026 08:18:14 GMT 649883 Prime Prometics, a company in the pro-age beauty segment founded by a Latvian, continued its rapid growth in 2025, surpassing €101 million in annual revenue for the first time in the company’s history, reports Labs of Latvia. https://eng.lsm.lv/article/economy/business/01.06.2026-latvian-business-sentiment-mixed-in-may.a649643/?utm_source=rss&utm_campaign=rss&utm_medium=links Mon, 01 Jun 2026 15:35:25 GMT 649643 The sentiment of Latvia's entrepreneurs in May 2026 in the retail and services sectors was positive, but negative in industry and construction, according to data from business surveys conducted by the Central Statistical Bureau (CSB) and published on June 1st. https://eng.lsm.lv/article/economy/business/01.06.2026-beyond-borders-urges-better-baltic-business-collaboration.a649528/?utm_source=rss&utm_campaign=rss&utm_medium=links Mon, 01 Jun 2026 07:25:10 GMT 649528 “Beyond Borders: Investment & Innovation in the Baltics”, a forum held in Riga on 28 May 2026, concluded that the Baltic states have genuine competitive strengths in several strategic sectors, excellent infrastructure, talent, good innovation ecosystem foundation, yet lack policy coordination, financing mechanisms and business-research networks to turn those strengths into growth, reports Lab of Latvia. https://eng.lsm.lv/article/economy/business/29.05.2026-cheese-factory-opened-in-bauska-latvia.a649338/?utm_source=rss&utm_campaign=rss&utm_medium=links Fri, 29 May 2026 13:13:19 GMT 649338 Vilvi Group, one of the largest dairy producers in the Baltic States, has opened a new cheese production facility in Bauska, Latvia, Vilvi said in a release. https://eng.lsm.lv/article/economy/business/29.05.2026-just-desserts-rujiena-ice-cream-plans-sigulda-expansion.a649269/?utm_source=rss&utm_campaign=rss&utm_medium=links Fri, 29 May 2026 08:06:00 GMT 649269 Vidzeme-based company "Rūjienas saldējums" currently sells its products in approximately 40 countries - from the Baltics and Western Europe to Qatar, Jordan, Canada and Mauritius. Now the company has announced ten million euro investment project for a new dessert production facility near Sigulda. https://eng.lsm.lv/article/economy/business/28.05.2026-latvia-in-global-top-50-for-startups.a649112/?utm_source=rss&utm_campaign=rss&utm_medium=links Thu, 28 May 2026 08:31:04 GMT 649112 The latest StartupBlink Global Startup Ecosystem Index 2026 report has been published and places Latvia in 48th place worldwide, reports Labs of Latvia. https://eng.lsm.lv/article/economy/business/25.05.2026-drone-alerts-having-a-serious-impact-on-tourism-in-eastern-latvia.a648588/?utm_source=rss&utm_campaign=rss&utm_medium=links Mon, 25 May 2026 10:39:00 GMT 648588 The tourism and hospitality industry in Latvia's eastern region of Latgale is experiencing a rapidly escalating crisis that threatens the region's economic stability and business environment, the tourist industry association said on Monday. It has appealed to the Latvian government to take urgent action. https://eng.lsm.lv/article/economy/business/22.05.2026-entrepreneurs-of-vidzeme-come-together-on-friday.a648295/?utm_source=rss&utm_campaign=rss&utm_medium=links Fri, 22 May 2026 08:43:50 GMT 648295 The Vidzeme Entrepreneurs Forum, taking place on Friday, May 22, in the northern city of Valmiera, will mark the start of one of the region’s most significant business events – Vidzeme Entrepreneurs Days 2026, Latvian Radio reported. https://eng.lsm.lv/article/economy/business/21.05.2026-new-report-delivers-deep-dive-into-baltic-deep-tech.a648111/?utm_source=rss&utm_campaign=rss&utm_medium=links Thu, 21 May 2026 07:54:18 GMT 648111 Newly published data from the Baltic Deep Tech Report 2025 shows a regional ecosystem that has nearly tripled its share of startup funding in four years, grown faster than the United States and every comparable European region, and is increasingly establishing itself as a European hub for dual-use and defence technologies, reports Labs of Latvia. https://eng.lsm.lv/article/economy/business/20.05.2026-latvijas-balzams-still-in-major-financial-difficulty.a647930/?utm_source=rss&utm_campaign=rss&utm_medium=links Wed, 20 May 2026 07:07:51 GMT 647930 Latvia's leading alcohol producer, "Amber Latvijas balzams," owes the state more than 28 million euros in taxes. It currently has legal protection, and the company must develop a plan by the beginning of October. According to official registry data, over the course of the year, the company has seen a decline not only in the amount of unpaid taxes but also in the number of employees, Latvian Radio reports on May 20. https://eng.lsm.lv/article/economy/business/20.05.2026-deep-tech-atelier-a-success-in-troubled-times.a647924/?utm_source=rss&utm_campaign=rss&utm_medium=links Wed, 20 May 2026 06:22:00 GMT 647924 Though the eyes of news organizations were focussed elsewhere last week as the Latvian government crumbled, the week also saw Northern Europe’s leading science-based technology conference, Deep Tech Atelier 2026, concluding in Rīga on 14–15 May. https://eng.lsm.lv/article/economy/business/19.05.2026-french-company-to-buy-ai-innovator-with-latvian-co-founder.a647795/?utm_source=rss&utm_campaign=rss&utm_medium=links Tue, 19 May 2026 10:58:00 GMT 647795 French company Mistral AI today announced it has "entered into a definitive agreement" to acquire Austrian company Emmi AI, which was co-founded by Latvian entrepreneur Miks Miksons. https://eng.lsm.lv/article/economy/business/18.05.2026-virsi-gets-approval-for-fuel-station-takeover.a647601/?utm_source=rss&utm_campaign=rss&utm_medium=links Mon, 18 May 2026 10:20:36 GMT 647601 Energy commodities trader and fuel retailer AS VIRŠI-A (Virši) announced on May 18th that the Competition Council has approved the company’s planned transaction, under which Virši will acquire long-term lease rights to 17 service stations owned by SIA Naftimpeks and currently operating under the 'Astarte' brand. https://eng.lsm.lv/article/economy/business/18.05.2026-baltic-advertising-industry-hands-out-awards.a647550/?utm_source=rss&utm_campaign=rss&utm_medium=links Mon, 18 May 2026 05:59:29 GMT 647550 From May 14–15, professionals from the Baltic advertising, design, and wider creative industries gathered in Riga at the Zuzeum Art Centre for Adwards, a festival and award ceremony. https://eng.lsm.lv/article/economy/business/12.05.2026-business-in-border-area-is-possible-say-latgales-entrepreneurs.a646712/?utm_source=rss&utm_campaign=rss&utm_medium=links Tue, 12 May 2026 08:38:30 GMT 646712 Banks often assess credit risk as higher in border regions, which can make it difficult to obtain loans. By assuming part of the risk, state financial institution "Altum" helps make financing more accessible, LSM's Latgale editorial reports. https://eng.lsm.lv/article/economy/business/10.05.2026-latvia-handed-371-million-euros-from-eu-recovery-fund.a646435/?utm_source=rss&utm_campaign=rss&utm_medium=links Sun, 10 May 2026 08:20:00 GMT 646435 On Friday, May 8th, Latvia received the fourth or penultimate payment from the EU's Recovery Fund (RF) – EUR 371.2 million. https://eng.lsm.lv/article/economy/business/07.05.2026-latvian-trade-mission-heading-to-sweden.a646005/?utm_source=rss&utm_campaign=rss&utm_medium=links Thu, 07 May 2026 07:30:00 GMT 646005 The Investment and Development Agency of Latvia (LIAA) is organizing a trade mission for Latvian businesses to Sweden on May 11th, 2026, led by Minister of Economics Viktors Valainis, reports Labs of Latvia. https://eng.lsm.lv/article/economy/business/06.05.2026-latvia-lags-its-baltic-neighbours-in-number-of-multinationals.a645880/?utm_source=rss&utm_campaign=rss&utm_medium=links Wed, 06 May 2026 12:10:00 GMT 645880 In 2024, 149 678 multinational enterprise (MNE) groups were operating in the EU and the European Free Trade Association (EFTA) countries, according to fresh figures from European statistics agency Eurostat published on May 6th. https://eng.lsm.lv/article/economy/business/06.05.2026-competition-watchdog-issues-half-million-euro-fine-for-vertical-agreement-fix.a645846/?utm_source=rss&utm_campaign=rss&utm_medium=links Wed, 06 May 2026 09:25:06 GMT 645846 Latvia's Competition Council (KP) has said that it has found a prohibited 'vertical agreement' in operation in the activities of three market companies, who worked together to maintain the same retail price level for a long time in the exclusive product distribution market. https://eng.lsm.lv/article/economy/business/06.05.2026-latvian-workplace-app-is-feeling-chirpy-about-its-potential.a645803/?utm_source=rss&utm_campaign=rss&utm_medium=links Wed, 06 May 2026 06:10:58 GMT 645803 The curiously-named 'BirdyChat' is a workplace messaging app founded in Latvia, and has just opened its beak to 50,000 early-adopting users across Europe, reports Labs of Latvia.  https://eng.lsm.lv/article/economy/business/05.05.2026-steel-factory-planned-for-kundzinsala-riga.a645624/?utm_source=rss&utm_campaign=rss&utm_medium=links Tue, 05 May 2026 07:29:30 GMT 645624 According to information on the Energy and Environment Agency (EVA) website, there are plans to build a steel and e-methanol production plant on Kundziņsala, Rīga, LETA reports on 5th May. https://eng.lsm.lv/article/economy/business/04.05.2026-will-fertilizers-flow-through-riga-port-again-despite-sanctions.a645549/?utm_source=rss&utm_campaign=rss&utm_medium=links Mon, 04 May 2026 06:32:00 GMT 645549 Riga Fertilizer Terminal is once again requesting a special permit, or exemption, from sanctions in order to resume operations. According to the Latvian Television investigative programme "De Facto", the terminal promises to implement a so-called "firewall", that is, to completely separate sanctioned Russian oligarch Dmitry Mazepin from the company's management and profits. https://eng.lsm.lv/article/economy/business/30.04.2026-business-sentiment-remains-mixed-in-latvia.a644607/?utm_source=rss&utm_campaign=rss&utm_medium=links Thu, 30 Apr 2026 16:22:29 GMT 644607 The latest business tendency survey carried out by the Central Statistical Bureau (CSB) shows that in April 2026 the business environment is positive in the retail trade and services sectors, but negative in manufacturing and construction. https://eng.lsm.lv/article/economy/business/30.04.2026-maxima-latvias-profits-down-turnover-up-in-2025.a645258/?utm_source=rss&utm_campaign=rss&utm_medium=links Thu, 30 Apr 2026 11:51:53 GMT 645258 In 2025, the retailer "Maxima Latvija" reported a turnover of 1.136 billion euros, which is 3.2% more than the previous year, while the company’s profit decreased by 1.2% to 50.154 million euros, according to information available in the “Lursoft” database. https://eng.lsm.lv/article/economy/business/30.04.2026-ai-nutritionist-offers-eating-tips-for-a-healthier-lifestyle.a645192/?utm_source=rss&utm_campaign=rss&utm_medium=links Thu, 30 Apr 2026 08:21:00 GMT 645192 Artificial Intelligence (AI) may not actually eat anything itself, but that doesn't stop it suggesting things for you to put in your mouth, reports Labs of Latvia. https://eng.lsm.lv/article/economy/business/29.04.2026-latvenergo-profits-down-a-bit-but-investments-up-a-lot.a645039/?utm_source=rss&utm_campaign=rss&utm_medium=links Wed, 29 Apr 2026 09:13:57 GMT 645039 The audited consolidated financial results of Latvenergo Group and Latvenergo AS for 2025 were published on April 29th and despite reduced turnover and reduced profits, the energy company was keen to strike an upbeat note. https://eng.lsm.lv/article/economy/business/28.04.2026-capture-study-hopes-to-help-new-medicines-reach-the-market-faster.a644921/?utm_source=rss&utm_campaign=rss&utm_medium=links Tue, 28 Apr 2026 12:54:00 GMT 644921 The technology startup “Capture Study” is developing a platform for clinical trials that helps quickly create survey questionnaires, which are completed by both doctors and patients during the data collection process. The main goal is to accelerate clinical processes so that science can advance faster and new medicines can reach patients sooner, reports Labs of Latvia. https://eng.lsm.lv/article/economy/business/27.04.2026-one-in-five-people-in-latvia-would-be-willing-to-launch-a-startup.a644670/?utm_source=rss&utm_campaign=rss&utm_medium=links Mon, 27 Apr 2026 07:30:59 GMT 644670 22% of Latvia’s population would be willing to start their own startup and while 5% are already seriously considering doing so, 17% admit that they lack the knowledge and skills to implement their idea, reports Labs of Latvia. https://eng.lsm.lv/article/economy/business/27.04.2026-pharmacy-market-in-riga-belongs-to-handful-of-merchants.a644642/?utm_source=rss&utm_campaign=rss&utm_medium=links Mon, 27 Apr 2026 06:35:18 GMT 644642 There are 823 pharmacies in Latvia. According to data from the Competition Council, the market share of the largest chains has grown from 56% to nearly 70% over the past ten years. In Rīga, this concentration has already reached 95%, Latvian Television's De Facto reported on 26th April. https://eng.lsm.lv/article/economy/business/24.04.2026-aluksne-poultry-farm-to-issue-eur-30-million-in-bonds.a644438/?utm_source=rss&utm_campaign=rss&utm_medium=links Fri, 24 Apr 2026 12:42:01 GMT 644438 The owner of "Alūksnes putnu fermas," AS "Agrova Baltics," will issue bonds worth 30 million euros to finance future growth and investment projects, the company announced following a decision by its shareholders. https://eng.lsm.lv/article/economy/business/24.04.2026-latvian-plywood-producer-expands-rezekne-factory.a644421/?utm_source=rss&utm_campaign=rss&utm_medium=links Fri, 24 Apr 2026 11:23:51 GMT 644421 On Friday, April 24, "Verems," a subsidiary of plywood producer "Latvijas finieris," will open a new production facility in the Rēzekne region. https://eng.lsm.lv/article/economy/business/22.04.2026-confectionery-company-finds-latvian-publics-sweet-spot-in-lsm-vote.a644070/?utm_source=rss&utm_campaign=rss&utm_medium=links Wed, 22 Apr 2026 12:50:07 GMT 644070 The trademarked symbol of maker of sweet treats SIA "Skrīveru saldumi" has won the public sympathy award at the Latvian Intellectual Property Award "Trademark of the Year 2025" organized by the Patent Office, the Patent Office informed. https://eng.lsm.lv/article/economy/business/22.04.2026-future-plans-for-riga-skyscrapers-look-up-in-the-air.a643999/?utm_source=rss&utm_campaign=rss&utm_medium=links Wed, 22 Apr 2026 08:42:00 GMT 643999 For several years now, two of the most noticeable and most controversial features of the Riga skyline have been the twin "Zunda Towers" skyscrapers, looking like 100-metre-tall salt and pepper shakers on the south bank of the River Daugava. https://eng.lsm.lv/article/economy/business/22.04.2026-young-latvians-are-quite-entrepreneurial.a643617/?utm_source=rss&utm_campaign=rss&utm_medium=links Wed, 22 Apr 2026 07:06:16 GMT 643617 Young Latvians are quite entrepreneurial when compared to their European peers, according to Eurostat data published on April 21st to mark the UN World Creativity and Innovation Day. https://eng.lsm.lv/article/economy/business/21.04.2026-lau-infra-grupa-says-it-plans-ipo-this-year.a643808/?utm_source=rss&utm_campaign=rss&utm_medium=links Tue, 21 Apr 2026 06:16:06 GMT 643808 Latvian state-owned company LAU Infra Grupa has announced that it plans to "potentially" conduct an initial public offering (IPO) this year. https://eng.lsm.lv/article/economy/business/20.04.2026-circle-k-to-buy-kekavas-fueling-station.a643707/?utm_source=rss&utm_campaign=rss&utm_medium=links Mon, 20 Apr 2026 11:30:42 GMT 643707 The Competition Council (KP) has authorised LLC "Circle K Latvia" ("Circle K") to acquire a gas station in Ķekava, the KP announced. https://eng.lsm.lv/article/economy/business/17.04.2026-valmiera-fibreglass-factory-seeks-new-markets-in-tough-economic-times.a643453/?utm_source=rss&utm_campaign=rss&utm_medium=links Fri, 17 Apr 2026 14:21:05 GMT 643453 The instability of global markets, increasing competition and the slowdown in the pace of European industrial development are forcing exporting companies to reconsider their development directions.