LSM / Economy (RSS Feed)

eng.lsm.lv

https://eng.lsm.lv/

Public Key

npub1rxyyr768wuqdpl7kr3d8vyvykpr0xuunz7c3znjz25ld65plv7ms049jl9

NIP-05 Address

https://eng.lsm.lv/rss/?lang=en&catid=276@rsslay.nostr.moe

Profile Code

nprofile1qqspnzzpldrhwqxslltpcknkzxztq3hnwwf30vg3fep920ka2qlk0dcpp4mhxue69uhkummn9ekx7mqndn9xe

Publishing to

nos.lol

Author Public Key

npub1rxyyr768wuqdpl7kr3d8vyvykpr0xuunz7c3znjz25ld65plv7ms049jl9

Show more details

Last Notes

2023-08-11 07:59:05

**Average speed cameras to finally start working Monday**
As of Monday, August 14, on the Rīga bypass (A5), the first phase of the average speed control will be operational from Stūnīši to Jaunmārupe, Latvian State Roads said on August 11.
https://eng.lsm.lv/article/economy/transport/11.08.2023-average-speed-cameras-to-finally-start-working-monday.a519790/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-09 04:59:09

**Latvian Agriculture Minister: millions in losses due to spring frosts**
The spring frosts have caused losses of approximately EUR 7-8 million to Latvian farmers, the Minister for Agriculture Didzis Šmits (United List) told Latvian Radio on August 9.
https://eng.lsm.lv/article/economy/economy/09.08.2023-latvian-agriculture-minister-millions-in-losses-due-to-spring-frosts.a519474/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-09 04:47:00

**Fintech companies ask for regulatory changes in Latvia**
Five organizations representing the financial technologies sector in Latvia have sent a joint letter to the Finance Ministry and the Bank of Latvia (which is now the financial regulator), calling for legislative amendments "in order to adapt the best practices of the financial technologies markets from the neighbouring countries, and as a result, strengthen Latvia’s attractiveness in the eyes of new and innovative companies".
https://eng.lsm.lv/article/economy/business/09.08.2023-fintech-companies-ask-for-regulatory-changes-in-latvia.a519470/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-09 04:32:39

**Survey: Workplace satisfaction on the decline in Latvia**
Three out of five employees would leave their job for a higher-paying one, and the overall satisfaction of the employees with their work has decreased significantly over two years, according to a Kantar survey, Latvian Radio reported August 9.
https://eng.lsm.lv/article/economy/employment/09.08.2023-survey-workplace-satisfaction-on-the-decline-in-latvia.a519462/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-04 07:30:31

**Guest workers in Latvia: interview with Economics Minister**
The Latvian labor market is open to citizens outside the European Union but a lot of red tape is in the way. LSM is continuing its three-part series on problems and solutions to attracting foreign workforce.
https://eng.lsm.lv/article/economy/employment/04.08.2023-guest-workers-in-latvia-interview-with-economics-minister.a518921/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-04 05:05:25

**Grain harvest 'catastrophically' slow in Latvia**
Due to the rainy weather, harvesting works are very slow, and last week's progress was 'catastrophically small', Ģirts Ozols, head of the agricultural department of the “Latraps” producer, told LETA on August 4.
https://eng.lsm.lv/article/economy/economy/04.08.2023-grain-harvest-catastrophically-slow-in-latvia.a518918/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-04 04:48:48

**Latvia's rental market heated by students ahead of new term**
The demand for rental housing has taken an upward turn, with students looking for accommodation ahead of the new study term. Real estate experts surveyed by Latvian Radio on August 4 said that the first apartments to go are in central Rīga in the price category of around €500.
https://eng.lsm.lv/article/economy/economy/04.08.2023-latvias-rental-market-heated-by-students-ahead-of-new-term.a518913/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-03 13:10:09

**British Airways announces return to Rīga International Airport**
The return to the Latvian market has been announced by British Airways, the British national airline, which will offer flights from Riga to London Heathrow Airport three times a week starting on October 29. Tourism industry is welcoming of this while aviation expert addressed by Latvian Television August 3 is more cautious.
https://eng.lsm.lv/article/economy/transport/03.08.2023-british-airways-announces-return-to-riga-international-airport.a518865/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-03 09:55:00

**Latvian manufacturing turnover down in June**
Central Statistical Bureau data published August 3 show that, compared to June 2022, in June 2023 industrial production output reduced by 5.0 % (calendar adjusted).
https://eng.lsm.lv/article/economy/economy/03.08.2023-latvian-manufacturing-turnover-down-in-june.a518326/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-03 06:45:00

**Baltic states will 'desynchronize' electricity links to Russia by February 2025**
Latvian Prime Minister Krišjānis Kariņš confirmed joint plans by the Baltic states August 3 to cut links to the Russian and Belarusian electricity grids, which have been in place since the Soviet occupation era.
https://eng.lsm.lv/article/economy/economy/03.08.2023-baltic-states-will-desynchronize-electricity-links-to-russia-by-february-2025.a518791/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-03 06:31:00

**Latvian restaurants repeat plea for VAT cut on catering**
The Latvian Restaurant Society (LRB) and the Latvian Hotel and Restaurant Association (LVRA) repeatedly ask officials to “hear the calls for help from the industry” and to introduce a reduced rate of 12% value-added tax (VAT) for catering services in the budget next year, according to a statement August 3.
https://eng.lsm.lv/article/economy/business/03.08.2023-latvian-restaurants-repeat-plea-for-vat-cut-on-catering.a518794/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-03 05:49:00

**Around 1,000 electric cars bought with state aid in Latvia**
For nearly a year and a half, individuals have been granted State aid to purchase an electric vehicle or an externally charged hybrid vehicle. Around a thousand people have made use of this offer, Latvian Television reported on August 3.
https://eng.lsm.lv/article/economy/transport/03.08.2023-around-1000-electric-cars-bought-with-state-aid-in-latvia.a518783/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-03 05:35:00

**IGLU sells majority stake**
BaltCap, the largest private equity fund manager in the Baltics, and investment company Draugiem Capital have announced their joint acquisition of a majority stake in Pepi Rer, widely known for its soft play brand IGLU and floor insulation brand ProVent.Founded in 1998 and based in Valka, Latvia, Pepi Rer is a manufacturing and e-commerce company producing a wide range of polyethylene foam and air bubble film products including kids soft-play toys IGLU.
https://eng.lsm.lv/article/economy/business/03.08.2023-iglu-sells-majority-stake.a518782/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-03 05:27:00

**Employers propose reduced red tape around guest workers' arrival**
The Latvian labor market is open to citizens outside the European Union but a lot of red tape is in the way. LSM is continuing its three-part series on problems and solutions to attracting foreign workforce.
https://eng.lsm.lv/article/economy/employment/03.08.2023-employers-propose-reduced-red-tape-around-guest-workers-arrival.a518772/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-03 04:33:00

**Tax changes mulled by Latvian politicians**
The tax policy working group has met for the first time after the summer break, and it has agreed that there will be changes in taxes. However, specific solutions have not yet come up, Latvian Television reported August 2.
https://eng.lsm.lv/article/economy/economy/03.08.2023-tax-changes-mulled-by-latvian-politicians.a518767/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-03 03:47:22

**Industrial park plan in Augšdaugava foresees forest felling**
It is planned to build an industrial park in the municipality of Augšdaugava – the Saeima has already given a conceptual agreement to this step. However, environmental representatives are concerned since this would mean felling a large area of trees, Latvian Radio reported August 2
https://eng.lsm.lv/article/economy/business/03.08.2023-industrial-park-plan-in-augsdaugava-foresees-forest-felling.a518760/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-02 06:29:00

**Central bank: Don't let Latvia regain money-laundering reputation**
Latvijas Banka (LB), the Latvian central bank, has published its latest Financial Stability Report, which analyses the development and resilience of Latvia's financial system and throws up several interesting facts in connection with sanctions against Russia and Belarus.
https://eng.lsm.lv/article/economy/economy/02.08.2023-central-bank-dont-let-latvia-regain-money-laundering-reputation.a518624/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-02 05:15:12

**Unions say Latvia's employers stall minimum wage raise**
Employers have stalled the raising of the minimum wage in Latvia without justification, said the head of the Free Trade Unions Association Egils Baldzēns on Latvian Television August 2.
https://eng.lsm.lv/article/economy/employment/02.08.2023-unions-say-latvias-employers-stall-minimum-wage-raise.a518614/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-02 03:57:00

**Growing numbers of guest workers employed in Latvia**
Over the last five years, the number of guest workers from outside the European Union (EU) has been growing, and the country's labor profile is changing with the Russian war in Ukraine, LSM's Latvian-language service reported on August 1.
https://eng.lsm.lv/article/economy/employment/02.08.2023-growing-numbers-of-guest-workers-employed-in-latvia.a518603/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-02 02:39:00

**New daily Liepāja train proves popular**
Since Monday, trains between Rīga and Liepāja have been running every day instead of twice a week. Both on Monday and Tuesday about 200 passengers were counted on the train, which is a good indicator, TV Kurzeme reported August 1.
https://eng.lsm.lv/article/economy/transport/02.08.2023-new-daily-liepaja-train-proves-popular.a518598/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-01 10:29:00

**Central bank report analyzes household finances**
The Latvian central bank, Latvijas Banka (LB) has published an English-language report on household finances and consumption – though it is somewhat retrospective in nature, covering the year 2020.
https://eng.lsm.lv/article/economy/economy/01.08.2023-central-bank-report-analyzes-household-finances.a518533/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-01 09:37:00

**Winter crops in Latvia will have lower yields**
Wheat, rye, barley, rapeseed, and triticale this season will have lower yields than expected this year, according to a survey carried out by the Latvian Rural Consulting and Education Centre (LLKC).
https://eng.lsm.lv/article/economy/economy/01.08.2023-winter-crops-in-latvia-will-have-lower-yields.a518521/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-01 05:04:07

**Latvian airports on board for Hamburg hydrogen project**
The Latvian Hydrogen Association and Riga Airport are joining other partners to promote the application of hydrogen solutions within the Latvian aviation industry by supporting an initiative begun by Hamburg Airport.
https://eng.lsm.lv/article/economy/transport/01.08.2023-latvian-airports-on-board-for-hamburg-hydrogen-project.a518475/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-01 04:13:05

**Rīga's Āgenskalns post office to close**
On August 25, the 46th post office branch at Kalnciema Street 48 will close its doors and some residents of the Āgenskalns, Zasulauks, and Šampēteris districts will further be served at other branches, the Latvian postal service (Latvijas pasts, LP) has announced.
https://eng.lsm.lv/article/economy/transport/01.08.2023-rigas-agenskalns-post-office-to-close.a518465/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-08-01 03:34:00

**Latvia plans to relax rules for guest workers**
The many calls by employers to allow easier recruitment of guest workers seem to have brought some result. Under the leadership of the Ministry of Economics, a strategy for the development of human capital is to be developed, making it easier for employers to attract employees from abroad in the short term, Latvian Television reported July 31.
https://eng.lsm.lv/article/economy/employment/01.08.2023-latvia-plans-to-relax-rules-for-guest-workers.a518461/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-31 14:41:00

**Officials mull Ukraine's grain export through Latvia**
New export routes are being sought for Ukrainian grain, including through Latvian ports. However, in order for such a solidarity corridor to become operational, the Baltic states and Poland must do thorough homework, Latvian Television reported July 31.
https://eng.lsm.lv/article/economy/economy/31.07.2023-officials-mull-ukraines-grain-export-through-latvia.a518438/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-31 13:14:54

**'Average speed' traffic camera system still not ready**
A new generation of traffic cameras designed to catch motorists exceeding the speed limit are themselves not yet fully up to speed, with their planned introduction delayed, "Latvijas valsts ceļi" (Latvian State Roads/LVC) has announced.
https://eng.lsm.lv/article/economy/transport/31.07.2023-average-speed-traffic-camera-system-still-not-ready.a518423/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-31 11:13:17

**Finance Ministry invites feedback on shadow economy combat plan**
The Ministry of Finance (MoF) has prepared a draft plan for curbing the shadow economy for 2024-2027 and has also started a public consultation process about it.
https://eng.lsm.lv/article/economy/economy/31.07.2023-finance-ministry-invites-feedback-on-shadow-economy-combat-plan.a518391/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-31 10:29:00

**July business environment worse in all sectors**
July has been a fairly pessimistic one for Latvian commerce with business environment indicators heading down in all business sectors.
https://eng.lsm.lv/article/economy/business/31.07.2023-july-business-environment-worse-in-all-sectors.a517526/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-31 04:45:32

**New speed limit areas in Rīga's neighborhoods**
Rīga municipality continues to introduce reduced speed limit areas in the city. This week they have appeared in Imanta and Skanste, at 20 and 30 kilometers per hour. Views differ on whether this is the right strategy, Latvian Radio reported July 31.
https://eng.lsm.lv/article/economy/transport/31.07.2023-new-speed-limit-areas-in-rigas-neighborhoods.a518324/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-29 06:23:15

**Fuel prices rose last week in Baltic states**
During the last working week, the price of gasoline and diesel fuel increased in Rīga and Vilnius, as well as in Tallinn, where the prices had not changed since the end of April, according to limited data collected by the LETA news agency on fuel price changes in the capitals of the Baltic states.
https://eng.lsm.lv/article/economy/transport/29.07.2023-fuel-prices-rose-last-week-in-baltic-states.a518237/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-29 05:29:39

**Fitch keeps Latvia's credit rating at 'A-' with positive outlook**
Rating agency Fitch assessed Latvia's current economic outlook at 'A-' on July 28, keeping it the same as the previous one of February this year and those of last year, and revising the outlook from stable to positive.
https://eng.lsm.lv/article/economy/economy/29.07.2023-fitch-keeps-latvias-credit-rating-at-a-with-positive-outlook.a518234/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-28 14:32:43

**Experts link Latvia's GDP fall to exports reduction**
Latvia's economy is experiencing a slowdown, according to the latest figures on gross domestic product (GDP). It has provisionally declined in the second quarter of the year, both compared to the previous quarter and the same period last year. One of the main reasons is the deterioration of Latvia's export capacity, economists surveyed by Latvian Radio on Friday believe.
https://eng.lsm.lv/article/economy/economy/28.07.2023-experts-link-latvias-gdp-fall-to-exports-reduction.a518184/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-28 09:21:38

**Retail trade down 2.3% in Latvia**
Calendar adjusted data (at constant prices) published on July 28 by the Central Statistical Bureau (CSB) show that, compared to June 2022, in June 2023 total retail trade turnover reduced by 2.3 %.
https://eng.lsm.lv/article/economy/economy/28.07.2023-retail-trade-down-23-in-latvia.a518133/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-28 09:08:00

**Flash estimate: Latvia's GDP down 0.9%**
Flash estimate of the Central Statistical Bureau (CSB) published July 28 shows that in the 2nd quarter of 2023, compared to the 2nd quarter of 2022, gross domestic product (GDP) decreased by 0.9 % (according to seasonally and calendar non-adjusted data).
https://eng.lsm.lv/article/economy/economy/28.07.2023-flash-estimate-latvias-gdp-down-09.a517525/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-28 04:18:00

**Farmers raise alarm over cattle feed shortage in Latvia**
Due to the long drought, farmers have problems getting enough hay and cattle feed. In many places, yields have fallen more than by half, and the prices for hay rolls have climbed at least three times. Farmers in Latgale estimate there will be less milk and some cows might also have to be eliminated, Latvian Radio reported on July 28.
https://eng.lsm.lv/article/economy/economy/28.07.2023-farmers-raise-alarm-over-cattle-feed-shortage-in-latvia.a518084/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-27 09:10:00

**Construction costs up on year, down on month in Latvia**
Central Statistical Bureau (CSB) data published July 27 show that in June 2023, compared to June 2022, the level of construction costs in Latvia increased by 4.1 %. Labour remuneration of workers rose by 6.7 %, maintenance and operational costs of machinery and equipment by 5.8 %, and prices of building materials by 2.2 %.
https://eng.lsm.lv/article/economy/economy/27.07.2023-construction-costs-up-on-year-down-on-month-in-latvia.a517523/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-27 07:20:03

**Grain harvest will be moderate, says farming co-op**
This week's rainfall has delayed the start of grain harvest, but currently, it has not damaged the quality of cereals, representatives of grain cooperatives told LETA July 27.
https://eng.lsm.lv/article/economy/economy/27.07.2023-grain-harvest-will-be-moderate-says-farming-co-op.a517984/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-27 06:48:00

**30 year wait for asphalt on Ziemupe road continues**
It has been talked about for 30 years, but so far nothing has changed – the road to the sea at Ziemupe in Southern Kurzeme district is still one of bumpy gravel and not smooth asphalt.
https://eng.lsm.lv/article/economy/transport/27.07.2023-30-year-wait-for-asphalt-on-ziemupe-road-continues.a517977/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-27 05:48:52

**Campaign draws attention to children and road accidents**
More than 300 children have been injured in various road accidents in Latvia during the first six months of this year, and this is the largest number since 2019, the head of the Road Traffic Safety Directorate (CSDD) Aivars Aksenoks said on Latvian Television July 27.
https://eng.lsm.lv/article/economy/transport/27.07.2023-campaign-draws-attention-to-children-and-road-accidents.a517973/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-27 03:32:00

**Drivers complain of parking tickets issued to moving cars in Rīga**
A street in the center of Rīga has become a driver trap. Several cars, passing the Rīga Central Market, later received a ticket for unauthorized parking, Latvian Television reported on July 26.
https://eng.lsm.lv/article/economy/transport/27.07.2023-drivers-complain-of-parking-tickets-issued-to-moving-cars-in-riga.a517956/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-27 03:21:14

**'Latvijas Gāze' reportedly investigated by State Security Service**
The State Security Service (VDD) has allegedly started an inspection to assess whether the decision of “Latvijas Gāze” shareholders to pay dividends to one of the owners – Itera Latvija – is in line with the regulation of sanctions imposed on Russia, TV3 News reported Wednesday evening.
https://eng.lsm.lv/article/economy/economy/27.07.2023-latvijas-gaze-reportedly-investigated-by-state-security-service.a517955/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-26 12:38:00

**Baltic states aim for earlier electricity desynchronization date**
Following talks in Rīga, Latvia and Estonia have reached an agreement with Lithuania to accelerate the three countries' desynchronization from the Soviet-era BRELL electricity grid, reported ERR News in Estonia July 25.
https://eng.lsm.lv/article/economy/economy/26.07.2023-baltic-states-aim-for-earlier-electricity-desynchronization-date.a517901/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-26 05:51:00

**Latvia's drunk driving problem highlighted again**
Since November last year, driving under heavy intoxication has been criminalized and cars can be seized or their value recovered. Criminal cases against more than 600 drivers have been initiated between November and mid-July, Latvian Radio reported on July 26.
https://eng.lsm.lv/article/economy/transport/26.07.2023-latvias-drunk-driving-problem-highlighted-again.a517821/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-26 04:39:00

**Electric car charging network in Latvia grows rapidly**
According to Latvenergo, the availability of the electric car public charging network is growing at the fastest rate in Latvia compared with neighboring countries. However red tape should be reduced so that there is a sufficient network in Rīga, Latvian Radio reported on July 26.
https://eng.lsm.lv/article/economy/transport/26.07.2023-electric-car-charging-network-in-latvia-grows-rapidly.a517811/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-26 04:20:29

**Historically lowest unemployment numbers registered in Latvia**
In June this year, Latvia registered the historically lowest number of unemployed people – there were slightly more than 50,000 registered unemployed, which is a 5.6% registered unemployment rate, Evita Simsone, director of the State Employment Agency (NVA), told Latvian Radio on July 26.
https://eng.lsm.lv/article/economy/employment/26.07.2023-historically-lowest-unemployment-numbers-registered-in-latvia.a517809/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-26 03:28:00

**Beekeepers say honey prices too low**
Since January 2019, prices of honey in supermarkets have increased by around 27%, but despite this, the price is too low – EUR 5.60 per kilogram, according to Juris Šteiselis, Chairman of the Board of the Latvian Apiculture Society (LBB), LETA reported on July 25.
https://eng.lsm.lv/article/economy/economy/26.07.2023-beekeepers-say-honey-prices-too-low.a517804/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-25 08:15:29

**Who's the biggest taxpayer of them all?**
The biggest taxpayer in Latvia in 2022 was the fuel producer SIA “ORLEN Latvija”, said the State Revenue Service (VID) on July 25. Lursoft estimated that the company paid EUR 278.95 million in taxes last year.
https://eng.lsm.lv/article/economy/business/25.07.2023-whos-the-biggest-taxpayer-of-them-all.a517698/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-25 05:38:00

**Baltic butchery brands to change hands**
Nordic butcher and meat product provider HKScan has been informed that the Estonian Competition Authority has approved the arrangement announced in December 2022 whereby HKScan will sell its businesses in the Baltic states, according to a company announcement July 24.
https://eng.lsm.lv/article/economy/business/25.07.2023-baltic-butchery-brands-to-change-hands.a517670/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-25 03:13:00

**Self-service counters appear on Latvia's roadside**
In Latvia, this is not yet a common practice, but gradually stands, cabinets, and tables appear on the roadside, with a variety of home-grown products that can be paid for without a vendor. What is the self-serving sales experience? Latvian Radio went to investigate on July 25.
https://eng.lsm.lv/article/economy/economy/25.07.2023-self-service-counters-appear-on-latvias-roadside.a517651/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-24 07:59:41

**Experts: Latvia's food prices should continue to fall in coming months**
In the near future food prices in Latvia will continue to fall, although in the longer term, it should not be expected that they will return to the level of before the Russian war in Ukraine, according to expert opinions in LETA's discussion on July 24.
https://eng.lsm.lv/article/economy/economy/24.07.2023-experts-latvias-food-prices-should-continue-to-fall-in-coming-months.a517561/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-24 05:58:48

**Latvia's minimum wage remains among EU's lowest**
The Eurostat statistics agency has published data showing decade-long trends across the EU and beyond with regard to minimum wages.
https://eng.lsm.lv/article/economy/employment/24.07.2023-latvias-minimum-wage-remains-among-eus-lowest.a517541/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-24 04:50:11

**Start-ups invited to sign up to NATO's DIANA innovation program**
Latvian entrepreneurs are being invited to a webinar on participation in a NATO pilot program that aims to tackle future challenges the alliance faces.
https://eng.lsm.lv/article/economy/business/24.07.2023-start-ups-invited-to-sign-up-to-natos-diana-innovation-program.a517528/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-07-24 03:38:52

**Foreign Ministry repeatedly warns public against travel to Russia, Belarus**
Buses are still traveling regularly from Rīga to Belarus and Russia. This is not forbidden, and people are free to move. But the Ministry of Foreign Affairs still strongly recommends refraining from trips to these countries, Latvian Radio reported July 22.
https://eng.lsm.lv/article/economy/transport/24.07.2023-foreign-ministry-repeatedly-warns-public-against-travel-to-russia-belarus.a517514/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-05-26 09:33:42

**WhatsApp transcription system developed by Latvian company**
Forward IT Consulting is working on earz.ai, a voice recognition and translation system, which converts WhatsApp voice messages into written text automatically, reports Labs of Latvia.
https://eng.lsm.lv/article/economy/business/26.05.2023-whatsapp-transcription-system-developed-by-latvian-company.a510318/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-05-26 05:35:00

**Rīga bus route changes this weekend**
Due to water and sewerage reconstruction works, from May 26 at 20:15 until the last service on May 28 there will be changes on bus routes No. 4, 36 and 56 and the location of bus stops, public transport company Rīgas Satiksme is warning travellers.
https://eng.lsm.lv/article/economy/transport/26.05.2023-riga-bus-route-changes-this-weekend.a510277/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-05-26 05:20:00

**Latvians cautious of holiday travel this year**
About one third of Latvian residents plan to travel outside the Baltic states for pleasure this summer – mostly those whose income per family member exceeds 1,000 euros per month, reports Latvian Radio.
https://eng.lsm.lv/article/economy/transport/26.05.2023-latvians-cautious-of-holiday-travel-this-year.a510273/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-05-26 05:04:53

**LTRK President: Latvians should help Ukrainians into the European market**
The revival of Ukraine's economy will also be an opportunity for Latvian entrepreneurs, who should help Ukrainians to break into the European market, Aigars Rostovskis, president of the Latvian Chamber of Commerce and Industry, said in an interview to Latvian Television on May 26.
https://eng.lsm.lv/article/economy/business/26.05.2023-ltrk-president-latvians-should-help-ukrainians-into-the-european-market.a510264/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-05-24 05:09:05

**Electric car popularity on the rise in Latvia**
Over the past two years, electric car numbers have increased – the sector has had the fastest growth ever. The number of electric car charging points is therefore also increasing. Several experts addressed by Latvian Radio on May 24 said that the number of charging networks is optimal, while some say Latvia is lagging behind.
https://eng.lsm.lv/article/economy/transport/24.05.2023-electric-car-popularity-on-the-rise-in-latvia.a509909/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-05-19 09:18:00

**April unemployment rate down slightly in Latvia**
Results of the Labor Force Survey published on May 19 by the Central Statistical Bureau (CSB) show that in April 2023 actual unemployment rate in Latvia was 5.8 % and compared to March it has reduced by 0.3 percentage points.
https://eng.lsm.lv/article/economy/employment/19.05.2023-april-unemployment-rate-down-slightly-in-latvia.a508672/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-05-19 08:54:56

**Some Latvia's households switch gas supplier after market changes**
Since May 1, the natural gas market in Latvia has been open and users have been able to choose their supplier. Market participants estimated that around 5-10% of households had switched suppliers, and more are expected to do so when the next heating season approaches, Latvian Radio reported on May 19.
https://eng.lsm.lv/article/economy/economy/19.05.2023-some-latvias-households-switch-gas-supplier-after-market-changes.a509340/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-05-18 11:11:13

**Farmers announce crisis in dairy sector in Latvia**
The Dairy Industry Working Group of the Agricultural Organizations Council (LOSP) decided on May 18 to ask the government to immediately announce a state of emergency in the dairy sector in Latvia due to a prolonged fall in milk buying prices, and to implement intervention in the dairy market.
https://eng.lsm.lv/article/economy/economy/18.05.2023-farmers-announce-crisis-in-dairy-sector-in-latvia.a509199/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-05-18 08:03:41

**Latvian Postal service reports 2 million profit in 2022**
In 2022, State JSC "Latvijas pasts" (Latvian Postal Service, LP) worked with a turnover of €100 million, 5.1% less than in the previous year. The postal service ended the last year with a profit of €2.2 million. By comparison, in 2021, the company worked on losses of €1.2 million, according to a 2022 audited report by LP on May 18.
https://eng.lsm.lv/article/economy/economy/18.05.2023-latvian-postal-service-reports-2-million-profit-in-2022.a509167/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-05-16 12:27:00

**Latvian public companies could be listed on stock market**
In the coming years, a number of companies fully or partially owned by the state and local governments could offer their shares or bonds on the stock exchange. The first municipality to lead the way could be Rīga, according to an information report from the Ministry of Finance viewed by the government on Tuesday, May 16.
https://eng.lsm.lv/article/economy/economy/16.05.2023-latvian-public-companies-could-be-listed-on-stock-market.a508869/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-05-12 17:46:03

**Latvia and Estonia to form joint LNG terminal working group**
The responsible ministers of Latvia and Estonia signed a memorandum of cooperation in Tallinn on Friday, May 12, for the joint use of the Paldiski liquefied natural gas terminal in crisis cases, the Latvian Ministry of Climate and Energy announced.
https://eng.lsm.lv/article/economy/economy/12.05.2023-latvia-and-estonia-to-form-joint-lng-terminal-working-group.a508474/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-05-12 11:49:40

**Mail shipment figures dropped in 2022 in Latvia**
The lifting of Covid-19 restrictions in 2022 changed users' habits in the use of postal services - the total number of postal parcel shipments decreased by 1.3 million or 5.2%, and letters by 24%, according to data published by the Public Utilities Supervisory Commission (SPRK) on May 12.
https://eng.lsm.lv/article/economy/transport/12.05.2023-mail-shipment-figures-dropped-in-2022-in-latvia.a508423/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-05-12 08:48:21

**Local fruit and berries will be scarce this summer**
Fruit orchards and gardens in all regions of Latvia have been damaged with the unusual frost last week. The damage will cost millions, estimated the Latvian Association of Fruit Growers, which will turn to the Ministry of Agriculture (ZM) for support to the sector, Latvian Radio reported on May 12.
https://eng.lsm.lv/article/economy/economy/12.05.2023-local-fruit-and-berries-will-be-scarce-this-summer.a508400/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-05-12 08:09:00

**Man refuses booze check while driving, waves goodbye to Porsche**
The Prosecutor's Office has confiscated a man's Porsche car after the owner refused an intoxicating substance test while behind the wheel, the Prosecutor's Office said May 12.
https://eng.lsm.lv/article/economy/transport/12.05.2023-man-refuses-booze-check-while-driving-waves-goodbye-to-porsche.a508388/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-05-05 12:07:52

**Historic cobblestone uncovered during roadworks in Rīga, Latvia**
Changing traffic lights in Rīga near the Great Cemetery, historic cobblestone was revealed beneath the tarmac, a surprise both to builders and the municipality, Latvian Television reported on May 3.
https://eng.lsm.lv/article/economy/transport/05.05.2023-historic-cobblestone-uncovered-during-roadworks-in-riga-latvia.a507484/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-05-02 03:39:00

**Concerns about unfair competition among Latvia's mobile providers**
The mobile provider sector has been fighting for influence in public procurement for several years now. Two of the most influential players in the market believe that procurements impose inappropriate and outdated requirements. In the meantime, the third company does not see any problems with the existing arrangements, Latvian Television reported on May 1.
https://eng.lsm.lv/article/economy/economy/02.05.2023-concerns-about-unfair-competition-among-latvias-mobile-providers.a507053/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-04-28 09:35:00

**Latvia's retail trade down 9% on year in March**
Calendar-adjusted data (at constant prices) published on April 28 by the Central Statistical Bureau (CSB) show that, compared to March 2022, in March 2023 total retail trade turnover decreased by 9.0 %.
https://eng.lsm.lv/article/economy/economy/28.04.2023-latvias-retail-trade-down-9-on-year-in-march.a506731/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-04-20 03:42:47

**Economics, Welfare ministers: guest worker entry could be simplified in Latvia**
The rules for the entry of third-country workers could be simplified in Latvia, Welfare Minister Evika Siliņa (New Unity) and Economics Minister Ilze Indriksone (National Alliance) said in an interview on the Latvian Television programme “Today's Question” on April 19. The politicians, however, have a different view of specific changes.
https://eng.lsm.lv/article/economy/employment/20.04.2023-economics-welfare-ministers-guest-worker-entry-could-be-simplified-in-latvia.a505567/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-04-12 06:46:29

**Speed limit to be reduced in central Rīga**
This week, Riga City Council Transport Department will start work on the introduction of a 30-kilometer-hour (km/h) speed limit zone in central Rīga, the department said on April 12.
https://eng.lsm.lv/article/economy/transport/12.04.2023-speed-limit-to-be-reduced-in-central-riga.a504534/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-04-07 06:52:18

**AmCham celebrates 30 years of Latvia-U.S. commerce**
On April 6 the American Chamber of Commerce in Latvia (AmCham) marked its 30th Anniversary with a black-tie dinner attended by President of Latvia Egils Levits and new U.S. Ambassador Christopher Robinson.
https://eng.lsm.lv/article/economy/business/07.04.2023-amcham-celebrates-30-years-of-latvia-us-commerce.a504076/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-04-06 10:14:33

**Sarkandaugava overpass open for traffic**
After nearly 3 years of work, on Thursday, April 6, traffic was opened on the new Sarkandaugava overpass connecting Viestura Avenue to Tvaika Street, Latvian Radio reported.
https://eng.lsm.lv/article/economy/transport/06.04.2023-sarkandaugava-overpass-open-for-traffic.a503973/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-04-04 09:16:00

**Agricultural prices were up by a third in 2022**
Data compiled by the Central Statistical Bureau of Latvia (CSB) and published April 4 show that in 2022, compared to 2021, the price index of agricultural output rose by 33.9 %, mainly due to an increase of 41.7 % in the price index of animal products and of 29.3 % in price index of crop products.
https://eng.lsm.lv/article/economy/economy/04.04.2023-agricultural-prices-were-up-by-a-third-in-2022.a503455/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-04-04 06:54:15

**Gas prices set to fall from May**
The Latvijas Gāze (Latvian Gas, LG) company will announce the prices of its universal natural gas service in the next few days for households, which will be effective from May, but has already suggested that the price of natural gas will be some 20-40% lower than at present.
https://eng.lsm.lv/article/economy/economy/04.04.2023-gas-prices-set-to-fall-from-may.a503615/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-04-04 04:42:11

**Chamber of Commerce: banks in Latvia hesitant to lend to businesses**
Compared to other countries in the region – Lithuania, Estonia, Poland, and Scandinavian countries – banks in Latvia are less open to business and business lending, Aigars Rostovskis, president of the Latvian Chamber of Commerce and Industry (LTRK), said in an interview to Latvian Radio on April 4.
https://eng.lsm.lv/article/economy/business/04.04.2023-chamber-of-commerce-banks-in-latvia-hesitant-to-lend-to-businesses.a503591/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-04-03 07:52:27

**Sarkandaugava overpass to be open for traffic this week**
On March 31, the newly built Sarkandaugava overpass over Rīga-Skulte railway line was commissioned and will soon be put into use, Rīga Vice Mayor Vilnis Ķirsis said on Twitter.
https://eng.lsm.lv/article/economy/transport/03.04.2023-sarkandaugava-overpass-to-be-open-for-traffic-this-week.a503472/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-27 05:04:00

**Latvia's electric vehicle stock continues to grow**
In 2021, there was a substantial increase in the number of electric passenger vehicles in the EU compared with 2020 (+76%), and Latvia's growth rate in that regard was close to the EU average (+75%), according to Eurostat data published March 24.
https://eng.lsm.lv/article/economy/transport/27.03.2023-latvias-electric-vehicle-stock-continues-to-grow.a501574/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-27 03:59:00

**Produce on demand: Valmiera heads Latvia toward new type of market**
A year ago, in March, a new form of direct trade was launched in Valmiera: a REKO market. It is based on previous orders carried out by the buyer on social networks, but the farmer or the home producer distributes the product to customers on a given day and hour. What are the conclusions after the first year of operation? Latvian Radio spoke to the market representatives on March 27.
https://eng.lsm.lv/article/economy/economy/27.03.2023-produce-on-demand-valmiera-heads-latvia-toward-new-type-of-market.a502474/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-27 02:52:02

**Police to enhance presence on Gogoļa Street, Rīga**
In the vicinity of Rīga Central Station, Gogoļa Street, due to the construction of the railway project “Rail Baltica”, car traffic is closed, which many drivers do not respect. The State Police will increase traffic monitoring as of Monday, March 27, Latvian Radio reported.
https://eng.lsm.lv/article/economy/transport/27.03.2023-police-to-enhance-presence-on-gogola-street-riga.a502466/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-22 09:41:08

**Nearly 8% of Latvian population could not access necessities in 2022**
Results of the population survey conducted by the Central Statistical Bureau of Latvia (CSB) show that 7.8 % of the population suffered from severe material and social deprivation in 2022 (2.5 percentage points more than in 2021 when the figure was 5.3%).
https://eng.lsm.lv/article/economy/economy/22.03.2023-nearly-8-of-latvian-population-could-not-access-necessities-in-2022.a501891/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-22 08:59:31

**Rail Baltica construction to bring new traffic restrictions in Rīga center**
As of Thursday, March 23, additional traffic restrictions will be introduced around the Central Station, including closed traffic on Puškina Street for a longer period due to the construction of the Rail Baltica Project, Rīga City Council said on March 22.
https://eng.lsm.lv/article/economy/transport/22.03.2023-rail-baltica-construction-to-bring-new-traffic-restrictions-in-riga-center.a501883/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-21 09:21:03

**Rapid rise of insurance claims paid in 2022**
In 2022, a total of €679.1 million was signed in insurance premiums in Latvia, 15.7% more than a year earlier, of which 21.1% were signed in life insurance and 78.9% in other types of insurance. EUR 432.4 million has been paid in insurance compensations, which is 22.2% more than in the previous year, according to a release by the Latvian central bank (Latvijas Banka) on March 21.
https://eng.lsm.lv/article/economy/economy/21.03.2023-rapid-rise-of-insurance-claims-paid-in-2022.a501724/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-21 05:12:00

**Red light jumping to be monitored by AI in Liepāja**
On Tuesday, March 21, the first AI transport monitoring system on a crossing will be unveiled in Latvia at the intersection of Ūliha and Robežu Street, which identifies whether red lights are being observed, Latvian Radio reported.
https://eng.lsm.lv/article/economy/transport/21.03.2023-red-light-jumping-to-be-monitored-by-ai-in-liepaja.a501684/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-20 14:33:23

**Excess profits tax could be imposed on banks and energy sector in Latvia**
The Finance Ministry's working group on behalf of the government will consider imposing an excess profits tax on banks and on the energy sector companies, according to the government representatives' statements on March 20 after the coalition meeting.
https://eng.lsm.lv/article/economy/economy/20.03.2023-excess-profits-tax-could-be-imposed-on-banks-and-energy-sector-in-latvia.a501626/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-09 07:03:31

**Latvia's sanctions compliance examined**
On March 8, the Latvian Ministry of Foreign Affairs held the eleventh meeting of the Sanctions Coordination Council, where the main topic for discussion was “The year since the war started by Russia in Ukraine and comprehensive sanctions imposed by the European Union against Russia and Belarus”.
https://eng.lsm.lv/article/economy/economy/09.03.2023-latvias-sanctions-compliance-examined.a500004/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-09 06:35:40

**Final frontier will be focus of April's 'Deep Tech Atelier'**
The fifth edition of the 'Deep Tech Atelier' event taking place in Riga from 20 to 21 April, will focus on space and photonics technologies. At the event, speakers will share their insights on the latest trends, scientific breakthroughs and opportunities to attract funding across five stages, reports Labs of Latvia.
https://eng.lsm.lv/article/economy/business/final-frontier-will-be-focus-of-aprils-deep-tech-atelier.a499998/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-09 06:35:00

**Final frontier will be focus of April's 'Deep Tech Atelier'**
The fifth edition of the 'Deep Tech Atelier' event taking place in Riga from 20 to 21 April, will focus on space and photonics technologies. At the event, speakers will share their insights on the latest trends, scientific breakthroughs and opportunities to attract funding across five stages, reports Labs of Latvia.
https://eng.lsm.lv/article/economy/business/09.03.2023-final-frontier-will-be-focus-of-aprils-deep-tech-atelier.a499998/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-09 06:24:02

**Plane slid off runway in Rīga; no injuries**
On Wednesday, March 8, an incident occurred at Rīga Airport in which a plane slid off the runway due to bad weather conditions, the airBaltic airline confirmed.
https://eng.lsm.lv/article/economy/transport/plane-slid-off-runway-in-riga-no-injuries.a499993/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-08 12:21:53

**Latvia made progress on gender pay gap in 2021**
On the occasion of International Women's Day on March 8, women's issues are very much in focus, but with regard to the differences in pay between men and women, there is at least one sign of progress even if pay remains far from equal.
https://eng.lsm.lv/article/economy/employment/latvia-made-progress-on-gender-pay-gap-in-2021.a499445/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-08 09:30:00

**Inflation level remains over 20% in Latvia**
Inflation in Latvia remains at extremely high level with prices up by more than a fifth on the year in February.
https://eng.lsm.lv/article/economy/economy/inflation-level-remains-over-20-in-latvia.a499442/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-06 10:05:15

**Industrial production declined nearly 10% in January**
Data published March 6 by the Central Statistical Bureau of Latvia (CSB) show that in January 2023, compared to January 2022, industrial production output decreased by 9.8 % (according to calendar adjusted data at constant prices). Output downturns were recorded in manufacturing (6.1 %) as well as mining and quarrying (20.8 %).
https://eng.lsm.lv/article/economy/economy/industrial-production-declined-nearly-10-in-january.a499441/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-03 02:54:16

**Ministry's request to build chapel for state money raises eyebrows**
The Agriculture Ministry has requested money in the state budget for the construction of a chapel at the Likteņdārzs park. Several points are unclear about this: why is it the Agriculture Ministry and why is it asked at a time when there is not enough money for priorities, Latvian Television reported on March 2.
https://eng.lsm.lv/article/economy/economy/ministrys-request-to-build-chapel-for-state-money-raises-eyebrows.a499050/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-02 10:21:44

**Is cobblestone too dangerous, asks concerned citizen**
Cobblestone recently placed on the crossing of Brīvības and Ģertūdes Street has concerned a citizen who thinks it is too slippery and not safe for crossing the street. Rīga City Council says that the material has been arranged with the National Cultural Heritage board since the place is UNESCO heritage, Latvian Television's 4. studija reported March 2.
https://eng.lsm.lv/article/economy/transport/is-cobblestone-too-dangerous-asks-concerned-citizen.a498938/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-02 10:21:00

**Worried citizen raises Rīga cobblestone concerns**
A stone-surfaced pedestrian crossing recently installed placed on the corner of Brīvības and Ģertūdes Streets has concerned a citizen who thinks it is too slippery and potentially unsafe.
https://eng.lsm.lv/article/economy/transport/worried-citizen-raises-riga-cobblestone-concerns.a498938/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-02 06:44:27

**Vice Mayor: 30% of Rīga streets need repairing**
To achieve a 'base' or satisfactory level of the conditions of the streets of Rīga, around 30% of them need repairing, said Rīga Vice Mayor Vilnis Ķirsis (New Unity) in an interview on Latvian Television March 2.
https://eng.lsm.lv/article/economy/transport/vice-mayor-30-of-riga-streets-need-repairing.a498917/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-02 05:57:28

**Last day to use last year's Rīga public transport tickets**
Travellers in the Latvian capital are reminded that March 2 is the last day on which public transport tickets bought at last year's prices will be valid on buses, trolleybuses and trams.
https://eng.lsm.lv/article/economy/transport/last-day-to-use-last-years-riga-public-transport-tickets.a498910/?utm_source=rss&utm_campaign=rss&utm_medium=links

2023-03-02 05:57:00