Most banks in Latvia will be eligible for rebates on so-called solidarity tax payments in 2025, according to the Bank of Latvia, LETA reports. The central bank noted that the growth of lending has been appreciably faster in 2025. Therefore, most banks will qualify for discounts on their solidarity contributions, amounting to 25-100%. The new…
Business sentiment in Latvia improved in all economic sectors in September 2025, according to the Central Statistical Bureau’s (CSP) latest survey, LSM reports. The business confidence indicator was 4.8% in retail trade, which was up 1.5 percentage points from August 2025. Business confidence stood at 1.7% in services (up 1.3 points), negative 3.5% in manufacturing…
Thousands of people demonstrated in the centre of the Lithuanian capital, Vilnius, against Prime Minister Gintautas Paluckas on 8 July 2025, BNS reported. The protest rally was organised by the Democracy Forum and local activists. The demonstrators demanded answers from Paluckas on his current and past business dealings, an end to the current coalition with…
Latvia’s Riga International Airport (RIX) served more than 3.3 million passengers in the first half of 2025, which was 5% more than in the same period of 2024, LSM reported. The number of flights increased by 3% to 30,378. The airport’s cargo turnover rose by 9% to 9,194 tonnes.
Estonia’s fuel market remained stable in 2024, ERR reported. Olerex retained market leadership with annual sales of EUR 551.6mn, which was largely unchanged from 2023. Motor fuel accounted for 81% of overall turnover. The company’s profit remained stable at EUR 6.7mn. Circle K’s revenue declined to EUR 369.3mn, while its net profit increased to EUR…
Owners of electric scooters in Latvia need to have mandatory third-party liability (OCTA) insurance as of 1 July 2025, LETA reports. The price of OCTA insurance policies for e-scooters will likely be around EUR 24-50 per year. Insurance industry organisations will launch targeted awareness campaigns to inform owners about the need for OCTA. According to…
Lithuanian real estate developer Hanner and Baltic investment company BaltCap have completed a deal under which Hanner will take over the national stadium project in Vilnius, BNS reports. Hanner acquired 98% of shares in Venetus Capital, which owns the project’s concessionaire, Vilniaus Daugiafunkcis Kompleksas (VDK), for one euro. Hanner will pay EUR 2.8mn to BaltCap…
The Estonian government has rejected an offer to buy shares in Latvia’s national air carrier, airBaltic, LSM reports. Estonia’s Infrastructure Minister, Kuldar Leis, explained that the decision was due to the fact that airBaltic’s change of management had not been completed and its financial situation remained problematic. He said that Estonia would not raise airport…
The coordination committee of the European Commission’s Connecting Europe Facility has approved another EUR 295.5mn of funding for the Baltic railway project, Rail Baltica, LSM reports. Of the total, EUR 47.1mn will go to Estonia, EUR 153.5mn to Latvia, and EUR 94.9mn to Lithuania. The project coordinator, RB Rail, said that the funds would be…