The Latvian state is negotiating with a well-known strategic investor on the possible acquisition of a 10% stake in the country’s national air carrier, airBaltic, according to LTV’s information, LSM reports. Klavs Vasks, chairman of airBaltic’s supervisory board, confirmed that the unnamed strategic investor could acquire a minority stake in the company. In 2023, Prudentia…
Consumer prices in Latvia rose by 0.7% in August 2024, compared to the same period of 2023, according to the Central Statistical Bureau’s (CSP) data, LETA reports. Compared to July 2024, consumer prices fell by 0.5%, however. Prices of food and non-alcoholic beverages increased by 3.5%, alcoholic beverages and tobacco by 7%, clothing and footwear…
The Latvian state will have to borrow at least EUR 3bn annually for the next four years, Kaspars Abolins, head of the State Treasury, announced, LETA reports. He said that the state needed to refinance earlier Eurobonds and finance the state budget deficit and loans to local governments. The plan was to raise the money…
The Latvian government plans to restrict the ability of Russian citizens to buy land in Latvia, LETA reports. The ruling three-party coalition has agreed on the plan conceptually, following a proposal from the Ministry of Agriculture. The government will analyse the example of similar draft legislation in Finland. Latvian Foreign Minister Baiba Braze has discussed…
Estonia’s exports of goods totalled over EUR 1.3bn at current prices in July 2024, which was up 5% from the same period of 2023, according to data from Statistics Estonia, ERR reports. Meanwhile, imports of goods totalled nearly EUR 1.7bn, which was up 1% from a year earlier. Estonia’s trade deficit thus amounted to EUR…
The Russian unmanned aerial vehicle (UAV) that crashed in Latvia’s eastern Rezekne municipality was an Iranian-designed Shahed drone carrying 90 kg of explosives, the Latvian National Armed Forces (NBS) announced, LETA reports. The drone’s warhead did not detonate in the crash. NBS deactivated the drone and is now inspecting its components. Janis Garisons, former state…
The Latvia-based commercial bank, Citadele, posted a net profit of EUR 50.9mn in the Baltic States in the first half of 2024, which was down 21% from EUR 64.5mn in the same period of 2023, bne IntelliNews reports. The bank’s operating income rose by 2% to EUR 116.1mn, with interest revenue increasing by 9% to…
Latvia’s National Cyber Security Centre (NKDC) began operations on 1 September 2024, Labs of Latvia reports. NKDC is an agency under the Ministry of Defence and will serve as a single contact point for cyber security issues, oversee the implementation of national cyber security requirements, and develop national cyber security policy initiatives. NKDC will collaborate…
Latvia’s Financial Sector Development Board (FSAP), chaired by Prime Minister Evika Silina, reviewed the country’s anti-money laundering (AML) measures during a meeting on 5 September 2024, LSM reports. The Financial Intelligence Unit (FID) reported on Latvia’s progress in relation to the Council of Europe’s evaluation of the country’s AML efforts. The meeting also addressed concerns…
