Latvia

Most people earn their income from wages

In the second quarter of this year, the majority of the country’s population aged 15-74 earned their income from wages and salaries, according to data compiled by the Central Statistical [..]

The EC forecasts 1% growth for Latvia this year

The European Commission (EC) forecasts 1 percent growth for Latvia’s economy this year, according to its autumn economic outlook published on Monday. Valdis Dombrovskis (New Unity), the European Commission’s Executive [..]

Latvia’s business environment becoming more competitive

“2025 has been a breakthrough year for the Investment and Development Agency of Latvia (LIAA) – for the first time, foreign direct investment attraction will exceed the one-billion-euro mark. Export [..]

Grenardi Group to open two new stores on Prague’s main shopping street

Latvia’s leading jewellery retailer, AS Grenardi Group, continues its expansion beyond the Baltic region. With an investment of nearly 3.5 million euros, the company is entering the Czech market by [..]

Unplanned tax changes are harming Latvia’s international reputation and will significantly expand the shadow economy, FICIL warns

Unplanned tax changes are damaging Latvia’s international image in the eyes of investors and will significantly expand the shadow economy, according to a letter from the Foreign Investors’ Council in [..]

Baltic finance ministers will meet in Riga at the Baltic Capital Markets Conference 2025 to discuss the role of capital markets in economic growth

On November 27, at the ATTA Centre in Riga, the Baltic Capital Markets Conference 2025 – the largest capital markets event in the Baltics – will take place for the [..]

AS CleanR Grupa bond offering significantly oversubscribed – demand more than double the target amount

AS CleanR Grupa (the Group), a group of leading companies in the environmental services sector in Latvia, has significantly exceeded the size of its bond issue during the public offering. [..]

The development of the Baltic capital market as a driving force of economic growth – Baltic Capital Markets Conference 2025 to take place in Riga

On November 27, at ATTA Centre in Riga, the largest capital market event in the Baltics – Baltic Capital Markets Conference 2025 – will take place for the fourth year [..]

Topping-out ceremony held for the second “Duck Republik” student residence in Riga

The topping-out ceremony was celebrated at the construction site of the second “Duck Republik” student residence on Slokas iela 51 in Riga, marking the completion of the building’s highest roof [..]

Nokia and LMT sign strategic deal to develop tactical defense solution for Baltics

Latvia’s mobile operator Latvijas Mobilais Telefons (LMT) and Finnish telecommunications company Nokia have signed a strategic agreement to integrate Nokia’s cutting-edge 5G radio technology with LMT’s proven defense solutions, LETA [..]

Transport-sharing providers to be required to ensure a reaction test before vehicle use

The Saeima on Thursday adopted amendments to the Road Traffic Law, drafted by the Transport Ministry, introducing a reaction test for alcohol or other intoxicating substances before using shared vehicles. [..]

Airline Norwegian not planning to expand its base at Riga Airport at the moment

Norwegian is not planning to expand its base at Riga Airport at the moment, the airline’s CFO Hans-Jørgen Wibstad told LETA in an interview. He noted that two Norwegian aircraft [..]

Competition Council fines Maxima Latvija EUR 1.873 million and imposes legal obligations

The Competition Council has imposed a fine of EUR 1.873 million on retailer Maxima Latvija and set several legal obligations for engaging in unfair trading practices, according to the decision [..]

Europe has an ambitious quantum strategy – and Latvia’s in that picture, too

Quantum technologies represent the next technological revolution, with the potential to transform information technology, defense, medicine, and industry. Although these technologies are still in the development stage, their future importance [..]

Latvijas Banka expands instant payment verification solution for financial institutions across Europe

As of October 2025, Latvijas Banka is the only central bank in Northern Europe offering the Instant Verification Service (IVS) at the Eurosystem level to payment service providers – banks [..]

Economists: Residents’ spending is increasing while savings are slowing

Residents have started to spend more and are slowing down on saving, several bank economists told LETA. Bank of Latvia economist Daina Paula told LETA that retail trade turnover in [..]

Tele2: Growth in the mobile communications market has slowed significantly

Growth in Latvia’s mobile communications market is slowing down, with current growth driven mainly by SIM card installations in various devices rather than by new users, Valdis Vancovičs, Chairman of [..]

Ingka investments’ €720 million commitment confirms Latvia’s investment appeal

Latvia has strengthened its position as one of the most attractive long-term investment destinations in Northern Europe. Ingka Investments, the investment arm of Ingka Group—the world’s largest IKEA retailer—has reached [..]

AS CleanR Grupa to issue bonds — subscription opens on 29 October

AS CleanR Grupa (the Group), a group of leading companies in the environmental services sector in Latvia, has received approval from the Bank of Latvia for its base prospectus for [..]

€10 million for Latvian and Lithuanian farmers – LANDE secures EIF guarantee

At a time when Latvian and Lithuanian farmers are in urgent need of alternative and flexible financing solutions, the agricultural lending platform LANDE has signed a guarantee agreement with the [..]

Number of Latvian restaurants included in the Michelin Guide could increase – association

The number of restaurants in Latvia listed in the international gastronomy publication, the Michelin Guide, could increase in 2026, Jānis Jenzis, head of the Latvian Restaurant Association, told LETA. He [..]

Join UP! Baltic opens its second travel shop in Riga at the Olimpia shopping center

Tour operator Join UP! Baltic has expanded its operations by opening its second travel shop in Riga. It is located in Pārdaugava, on the first floor of the Olimpia shopping [..]

Baltic countries not among the most prone to cyberattacks – Microsoft

The Baltic States are not among the countries most frequently affected by cyberattacks, Renate Strazdiņa of Microsoft’s NTO Europe North Multi-Country Cluster told LETA. However, Strazdiņa pointed out that attackers [..]

airBaltic to wet-lease aircraft to Air Serbia

Latvian national carrier airBaltic will wet-lease aircraft to Serbian national airline Air Serbia under a two-year agreement concluded between the two companies. According to information provided by Air Serbia, starting [..]

Latvia signs agreement in Washington to represent business interests across 29 U.S. states

On October 16, the “Spotlight Latvia” conference, organised by the Latvian-American Chamber of Commerce (LACC), took place in Washington, D.C., as part of the Latvian business delegation’s trade mission to [..]

East Capital Real Estate plans new €400 million investment fund in the Baltics

Property investment company East Capital Real Estate (ECRE) plans to set up a new investment fund in the Baltic states, with assets estimated at around €400 million, ECRE’s Head in [..]

New taxi service provider Ruut to launch in Latvia

A new taxi service provider, Ruut LV, will begin operations in Latvia within a month, the company’s representatives told LETA. The company said it will announce the exact launch date [..]

Lux Express reduces Riga-Tartu trips

Bus company Lux Express has reduced the number of departures on its Tartu-Riga line, the Estonian public broadcaster ERR reported. As recently as August, it was possible to travel from [..]

Ventspils port terminals report a 14.7% increase in cargo turnover in the first nine months

In January-September this year, the terminals of the Port of Ventspils handled 6.456 million tons of cargo – a 14.7 percent increase compared with the corresponding period in 2024, according [..]

Construction company Binders to reconstruct Riga Airport’s apron No. 4

Through an open tender, the road construction company SIA Binders has been awarded the contract to carry out construction works for the reconstruction of Apron No. 4 at RIX Riga [..]

Latvia launches trade mission to the U.S. with participation at the AUSA Annual Meeting – showcasing Europe’s emerging defense innovation hub

Latvia has officially kicked off its trade mission to the United States this week with participation in the Association of the U.S. Army (AUSA) Annual Meeting & Exposition in Washington, [..]

Only 15% of people in Latvia consider retirement savings an important form of wealth

Only 15 percent of the Latvian population considers pension savings to be a significant form of wealth, according to CBL Asset Management, a subsidiary of Citadele Bank, which informed LETA, [..]

GPS disruptions in Latvian airspace increased 2.6 times in the first nine months

GPS disturbances in Latvian airspace recorded 1,060 times in first nine months. The Global Positioning System (GPS) disturbances in Latvian airspace were recorded 1,060 times during the first nine months [..]

Latvian business delegation to visit United States

From October 13 to 17, a Latvian business delegation of around 50 participants, led by Minister of Economics Viktors Valainis (Greens/Farmers), will visit Washington, D.C., the Latvian Investment and Development [..]

Latvia prohibits bus trips to Belarus and Russia

The Latvian government on Tuesday decided to ban passenger carriers from providing irregular bus trips to Belarus and Russia. The government issued a decree instructing the State Border Guard to [..]

The Riga connection is planned for the second phase of Rail Baltica, according to RB Rail

The Riga connection is planned for the second phase of the Rail Baltica project, Marko Kivila, Chairman of the Board of RB Rail, told LETA in an interview. He explained [..]

Tallinn, Vilnius and Kaunas among the most popular FlixBus routes this summer

Tallinn, Vilnius and Kaunas were the most popular destinations from Latvia for international passenger carrier FlixBus this summer, the company informed LETA. According to FlixBus data, people from Latvia also [..]

41 percent of people in the Baltics believe now is the best time to buy a home – Luminor Bank survey

Forty-one percent of people in the Baltic states believe that now is the best time to buy a home, Luminor Bank informed LETA, citing data from a survey conducted by [..]

Latvia suspends Ride Mobility scooters after deadly collision

The Latvian Consumer Rights Protection Center (PTAC) suspended Ride Mobility’s e-moped rentals in Riga after two 13-year-old girls were killed in a train collision. The Consumer Rights Protection Center (PTAC) [..]

Storent expands into the U.S. market with acquisition of Connect Rentals

AS Storent Holding (Storent), one of the largest equipment rental companies in the Baltics, has taken a historic step by acquiring a 70% stake in the U.S. equipment rental company [..]

Websites of state institutions suffer a massive DDoS attack

On Thursday morning, websites of Latvian state institutions were hit by a massive distributed denial-of-service (DDoS) attack, the Latvian State Radio and Television Centre (LVRTC) informed LETA. As a result, [..]

Estonia’s Reterra begins construction of its first commercial building in Latvia

Estonian real estate developer Reterra has three residential buildings under development and construction in Riga, and the Lacplesa Plaza commercial building – now being added to its portfolio – is [..]

Survey: 59% of Latvia’s residents worry about money matters several times a month

More than half, or 59 percent, of Latvia’s residents worry about money several times a month, up seven percentage points compared with 2020, representatives of Swedbank told LETA, citing the [..]

NATO Chiefs of Defence gather in Riga for the Military Committee Conference

NATO’s highest Military Authority, the NATO Military Committee, met in Riga, Latvia, on 26-27 September 2025. The 32 NATO Chiefs of Defence, together with the Strategic Commanders, discussed military developments [..]

Latvia borrows €1.25 billion from international financial markets

Latvia has borrowed €1.25 billion from international financial markets, according to information published by the Treasury. On Thursday, September 25, the Treasury issued 10-year Eurobonds on behalf of Latvia, raising [..]

Signet Bank strengthens its position in the local market – 44% growth in loan portfolio, unique investment product, record bond volume in the first half of the year

In the first half of 2025, Signet Bank Group (hereinafter – the Group) continued its successful development. The Group continued to demonstrate stable growth, maintaining a positive development trend. Highlights [..]

MyCabin expands prefab home range and targets the Nordic market

MyCabin, a Latvian manufacturer of high-quality prefabricated homes, is launching three new ready-made home solutions — Living 80, Living 100, and Sauna 30, a sauna combined with a living area [..]

Health insurance has become an almost mandatory benefit for employees, according to the association

More than half of workers in Latvia have health insurance, which has become an almost mandatory benefit offered by employers, Jānis Abašins, head of the Latvian Insurers Association (LAA) and [..]

European Commission, NATO, and OECD leaders to headline Techritory’s 2025 lineup

As technology takes an increasingly central role in geopolitical and geoeconomic ties, global leaders will convene in Riga to discuss the intersection of connectivity and policy. The 8th annual Techritory [..]

Norwegian to launch direct flights between Riga and Bergen next summer season

The airline Norwegian will launch direct flights from Riga to Bergen, Norway, in the next summer season, the company’s representatives informed LETA. Norwegian will operate the route twice a week. [..]