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Credit rating agency Fitch Ratings has affirmed Latvia's Ratings
06.11.2016
On Friday, November 4, the international credit rating agency Fitch Ratings has affirmed Latvia's Long-term foreign and local currency Issuer Default Ratings at 'A-' with Stable outlook.
Credit rating agency positively estimates Latvia’s institutional strengths and a stable political situation. L...
China, Latvia agree to expand cooperation
05.11.2016
China-Latvia relations are set to leap forward. Visiting Chinese Premier Li Keqiang and his hosts have all expressed strong interest in further boosting practical cooperation.
While holding talks in Riga on Friday with his Latvian counterpart, Maris Kucinskis, Li said China regards Latvia as an i...
Latvia up to 14th place in Doing Business rating
25.10.2016
Latvia has climbed to 14th position in the World Bank's (WB) Doing Business 2017 rating, WB representative in Poland and Baltic states Filip Kochan told LETA Tuesday.
Latvia has risen to its current position from 22nd place last year.
The WB said that this due to methodology changes th...
At least EUR 110 mln invested in Latvia’s start-ups
26.09.2016
Latvian start-up companies have attracted investments worth at least EUR 110 mln,Jekaterina Novicka, the board chairwoman of the Latvian Association of Start-ups said LETA.
Estonian start-up companies have attracted EUR 330 mln in investments, and in Lithuania these investments have reached EUR...
Latvia Signed Agreement of Participation in EXPO-2017
02.09.2016
On September 2-3, 2016 Commissioner of the International Specialized Exhibition EXPO-2017 Rapil Zhoshybayev visited the Republic of Latvia. During the visit, he held meetings with Minister of Transport of Latvia Uldis Augulis, Chairman of the Latvian Chamber of Commerce and Industry Janis Endziņ, wh...
Government greenlights Rail Baltica route
08.08.2016
Latvia's government on Tuesday approved the route of Rail Baltic high-speed railroad in Latvia, however maintaining that discussions will be held with European authorities on a contested section running through the Salacgrīva region.
The government promised consultations will be held with the E...
Foreign investments in Latvia's Jurmala seaside resort grow 21.9 pct in 2015
10.07.2016
Total foreign investments in Latvia's Jurmala seaside resort last year reached EUR 62.964 million, up 21.9 percent from 2014, according to the financial report of Jurmala municipality.
Compared to other cities in Latvia, Jurmala ranks fourth by attracted investments. "Only Riga, Ventspils and Lie...
Riga ranks 71st as global finance center
02.06.2016
Riga has been included for the first time in the Global Finance Centers Index (GFCI) and is in 71st place out of 86 global finance centers included in the ranking.
In the list of Eastern European and Central Asian financial centers, Riga is ranked fifth behind Istanbul, Warsaw, Prague and...
Latvia to become 35th OECD member state
10.05.2016
Latvia's hoped-for goal of full membership of the Organization for Economic Cooperation and Dedevelopment (OECD) finally came within its grasp Wednesday with confirmation that it will join.
Following a meeting of member states, an announcement by the Paris-based organization quoted OECD S...
Government approves new Latgale growth plan
13.04.2016
Today, the government approved the Environmental Protection and Regional Development Ministry's plan for the growth of eastern Latvia's Latgale Province, which stipulates creation of 818 new jobs and drawing private investment in the amount of EUR 52.18 million.
The Plan of Action for the Develop...
Latvia submits projects worth EU 400 mln under Juncker's investment plan
06.03.2016
Latvia has submitted to the European Investment Bank (EIB) projects worth EUR 400.3 million in total under the investment plan proposed by European Commission President Jean-Claude Juncker, BNS was told at the Latvian Finance Ministry.
The ministry's representatives indicated that Latvia's financ...
Economy in Latvia has kept growing despite geopolitical situation
31.01.2016
The Latvian economy continued to grow in 2015 despite a tense geopolitical situation in the region, Janis Salmins, vice-director of the structural policy department of the Economics Ministry, told LETA.
Latvia's economic growth rate has been accelerating since the second quarter of 2015. Accord...
Rietumu Banka funds purchase of Gulfstream business jet
28.01.2016
Rietumu Banka has completed yet another new Gulfstream business jet purchase funding transaction, the bank said in a press release.
This jet, which complies with the most recent global private aviation standards, will be used for the needs of one of the biggest international customers of the bank...
International Contest of FinTech Startups to Be Held With in Latvia
03.03.2015
This spring the first large-scale international contest of startups Rietumu FinTech Challenge by TechHub Academy will be held in Latvia. Its participants will be young companies from all parts of the world engaged in the development of business technologies in finance.
The best startup will receiv...
The Ambassador of Kazakhstan in Latvia Has Discussed the Prospects for Economic Cooperation with Entrepreneurs
14.12.2014
A meeting of the Ambassador of Kazakhstan in Latvia Baurjan Mukhamedjanov with Latvian entrepreneurs was held in the headquarters of Rietumu Bank. The meeting was organised by the Latvia-Kazakhstan Business Club with the support of the Embassy and Rietumu Bank.
The key subjects of the meeting wer...
eCom21 – the International Forum on E-commerce Held in Riga Was a Success
13.11.2014
Today the biggest conference in Eastern Europe on e-commerce issu es – eCom21 has completed in Riga. The forum was dedicated to one of the most topical trends of e-commerce – electronic money. The organiser of the conference was traditionally Rietumu Bank.
The current eCom21 has become the third ...
Business Summit in Astana Has Gathered Together Investors and Partners from Latvia and Kazakhstan
22.05.2014
On 20 May a meeting of entrepreneurs and officials of Kazakhstan and Latvia was held in Astana to discuss the prospects for cooperation in terms of business and finance. The organisers of the forum were Rietumu and Riga City Council. The focus of attention for the summit, titled the ‘Latvia-Kaza...
Possibilities for Obtaining a Residence Permit in Latvia Have Been Expanded
08.01.2014
In January amendments to the Latvian Law on Immigration took effect – they expand the opportunities for foreign investors to obtain a residence permit. Among the positive changes, there are some that pertain to investors obtaining a residence permit based on investments in the subordinated capital...
Stenders attracts EUR 1.5 million investments from BaltCap
23.10.2013
The leading Baltic private equity and venture capital investment management company BaltCap has signed an investment agreement of EUR 1.5 million with one of the most successful Latvian cosmetics producers and franchise developers Stenders.
Stenders is a cosmetics producer with 225 franchise stores...
Final Decision: Latvia to Join Eurozone
09.07.2013
Yesterday, on July 9, the Economic and Financial Affairs EU Council (ECOFIN) has finally approved Latvia to join the euro on 1 January 2014. Therefore, Latvia will become 18th eurozone member. The final decision has also been made regarding the exchange rate – it is 0.702804 lats for one euro. All...
Success of the Baku Conference is an Important Step in the Development of Business Relations with Latvia
16.06.2013
In June, a major business conference “Investment Climate Development between the Silk Road Countries and Europe” was held in Baku, the capital of Azerbaijan. The conference became the first wide-scale event in the region devoted to this issue and it attracted key participants of the European mark...
E&Y: Latvia Positioned to Replace Estonia as Eurozone's Fastest-Growing Economy
13.03.2013
The Latvian economy is set to be the new darling of the Eurozone and will gain considerable momentum when it joins the monetary union next year, according to Ernst & Young Baltic partner Ivar Kiigemägi.
Last quarter, economic growth in all three Baltic countries outpaced all other EU member...
Latvia tops 2012 EU growth with 5.6%
10.03.2013
Keen to join the eurozone next year, Baltic state Latvia said Monday that revised data confirmed its economy grew by 5.6 percent in 2012, the strongest level in the 27-member European Union for the second year running.
In the last three months of 2012, Latvian gross domestic product (GDP) was 5.1 p...
Retail trade turnover in Latvia increased by 5.2% in January y-o-y
28.02.2013
Data of Central Statistical Bureau show that, compared to December 2012, total retail trade turnover in January 2013 increased by 1.2%, according to seasonally adjusted data at constant prices. Compared to January 2012, total retail trade turnover in January of this year increased by 5.2%.
Retail t...
Cameron expresses support for Latvia’s OECD membership
27.02.2013
RIGA - Today, visiting British Prime Minister David Cameron met with Latvian Prime Minister Valdis Dombrovskis (Unity), expressing support for Latvia's OECD membership.
Great Britain's support is very important, taking into account that the OECD will decide on its expansion in the nearest future, D...
Fitch: Baltic economies recover strongly; volatility a long-term challenge
19.02.2013
Feb 20 - Fitch Ratings says Estonia, Latvia and Lithuania's recovery from crisis in 2008-2009 to being the EU's fastest growing economies in 2011-2012 represents a remarkable European success story. Nonetheless, their open economies, high bank loan/deposit ratios and level of external debt, as well ...
Latvia outpaces Estonia, Lithuania in Q4 growth
13.02.2013
Once again, Latvia shows the strongest growth from all three Baltic countries: Estonia and Lithuania reported 3.4% and 3.1% growth, respectively, in Q4 2012, writes news2biz.
Latvian statistics office Centrala statistikas parvalde (CSP) released today its flash estimate of the Q4 whic showed that L...
Latvian Economy Grows Quicker Than Forecast at EU’s Fastest Pace
10.02.2013
Latvia’s economy expanded at the quickest pace in the European Union in the fourth quarter, fueled by trade and manufacturing.
Gross domestic product grew a preliminary 5.1 percent from a year earlier, compared with a 5.2 percent advance in the third quarter, the statistics office, based in the cap...
JSC „Brivais Vilnis” announces, that Mr.Vilory Belokon acquired significant part of shares
06.02.2013
JSC „Brivais Vilnis” announces, that Mr.Vilory Belokon acquired significant part of shares in this way:
“A Corporation” Ltd. Is owner of 1267020 shares of JSC “Brivais Vilnis”. The only owner of “A Corporation” Ltd. was Mrs. Ilona Drikina.
According with contract dated 31.01.2013 Mrs. Ilona Drikin...
Attention paid to Latvia's experience in renewing economic growth at Davos Forum
24.01.2013
At the World Economic Forum currently being held in the Swiss city of Davos, attention has been paid to Latvia's achievements in renewing economic growth, LETA was informed by State Chancellery spokeswoman Diana Germane.At the forum, which being attended by Prime Minister Valdis Dombrovskis (Unity),...
Latvia registers EU's steepest increase in exports in January-October
14.01.2013
In the first ten months of 2012, Latvia's exports increased 15% from the respective period in 2011, the steepest increase across the European Union, according to the latest data from the EU's statistical office Eurostat, writes LETA.
The second largest increase, according to seasonally unadjusted d...
Rietumu Banka Will List Bonds on NASDAQ OMX Baltic Market
05.12.2012
The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) announces that as of December 7, 2012, bonds of Rietumu Banka, one of the largest private banks in the Baltic States, will be listed on the NASDAQ OMX Baltic Bond list. As a result of issuing bonds denominated in EUR and USD in three separate issues, Rietumu ...
Latvia registers EU's strongest growth in Q3
15.11.2012
In the third quarter of 2012, Latvia displayed the fastest year-on-year economic growth in the European Union, as well as the fastest growth when compared with the second quarter, according to updated "Eurostat" data.
Latvia's gross domestic product (GDP) increased 5.3 percent in the third quarter ...
Latvia gets ratings upgrade
11.11.2012
Latvia’s economy grew more than 5 per cent in the third quarter, confirming a recovery in the euro-hopeful Baltic state from a deep crisis, data showed on Friday, when Standard & Poor’s also upgraded its credit rating.
The finance minister said Latvia was likely the fastest growing country in...
Several potential investors have expressed interest in ''airBaltic'' shares
06.11.2012
According to the financial consultancy firm Prudentia, several potential investors have expresses interest in purchasing shares in Latvian national airline airBaltic, the Transport Ministry informed the business information portal Nozare.lv.
The Transport Ministry points out that more information o...
Latvia enters the club of the leading offshores in Europe
30.10.2012
In 2013 Latvia starts to introduce a favorable tax regime for international holding companies. This will bring the Baltic country in a line with such popular European low-tax brands as Cyprus, Malta, Netherlands and Luxembourg. It is expected that businessmen from CIS countries, particularly Russian...
BP, Rosneft set up $25 billion-plus TNK-BP deal
21.10.2012
(Reuters) - Rosneft and BP are preparing to announce a deal worth over $25 billion that could give the British oil company a stake of between 16 and 20 percent in the state-controlled Russian energy firm, sources familiar with the situation said.
The agreement, yet to be finalized but which could b...
Eurostat: Latvia fulfilling Maastricht inflation criteria
16.10.2012
Latvia is fulfilling the Maastricht inflation criteria in September, according to European Union's statistical bureau 'Eurostat.
Latvia has set out the goal of joining the euro-zone in 2014. In order for Latvia join the European single currency, it must implement several criteria called the Maastri...
Clusterpoint secures €1m from BaltCap to scale its database for clouds
08.02.2012
BaltCap, a leading venture investor in startups in the Baltics region, has signed a €1 million investment in Clusterpoint, an enterprise software startup created by Latvian programmers and backed by seed investors in the UK and Baltics.
Clusterpoint has built a database platform designed for cloud ...
MTG snaps up Latvian station
08.01.2012
Modern Times Group (MTG) is to buy 100% of the Latvian free-TV broadcaster LNT for an undisclosed fee.
Given that MTG already operates the free-TV operations (TV3, 3+ and TV6) in the country, the deal, which still requires the approval of the Latvian Competition Council, will make the company the ...
Government postpones sale of Citadele banka
26.12.2011
Yesterday, the Cabinet in Latvia decided to postpone the sale of Citadele banka.
As reported, it was planned earlier today that the government will review the Economy Ministry's report on the bank's sale.
The government resolved to support the suggestion of Nomura International plc, the consultant...
Snaige refrigerator factory now owned by Russians
12.12.2011
The only Snaige production factory in Baltic countries was bought by Alexei Kovalchuk. The Russian businessman is prepared to push Lithuanian refrigerators on Russian market.
Russian company Polair bought 44.43% of Snaige company shares for 32.8 million LTL (6.7 million LVL). The rest of the sum – ...
Negotiations with potential airBaltic investors have begun
04.12.2011
Negotiations with potential Air Baltic Corporation (airBaltic) investors have begun, says Anrijs Matiss, Ministry of Transport secretary of state.
Matiss noted that the talks are going strictly about strategic investors only. The investor’s first and foremost task would be to provide development of...
Dutch investors in talks to acquire Latvijas Finieris shares
04.12.2011
The Dutch investor BGF.BV, which announced in autumn that it was willing to acquire shares of the plywood manufacturer AS Latvijas Finieris, is already conducting talks with 5-10% of the company’s shareholders.BGF.BV has divided Latvijas Finieris shareholders into three groups. First, there are th...
Latvia now holds 99.8% of airBaltic shares
29.11.2011
On November 30, Latvia Transport Ministry used its pre-emptive right to buy the national airline airBaltic shares that were previously owned by the private shareholder Baltijas Aviacijas sistemas (Baltic Aviation Systems, BAS). The shares of BAS, minority shareholder, were pledged as security with L...
