Latvia’s Riga International Airport (RIX) posted an audited profit of EUR 4.2mn in 2025, which was up EUR 0.8mn from 2024, The Baltic Times reported. The airport’s annual net turnover totalled EUR 80.7mn, which was up 3.9% over a year. Revenue from aviation services amounted to EUR 47.3mn (up 5.4%) and from non-aviation services to…
Latvian President Edgars Rinkevics has begun consultations with parliamentary groups on forming a new government, Baltic News reports. The President stressed the need to ensure political stability, effective governance, and national security continuity. The discussions are focused on how to build a working coalition in the parliament, the Saeima, and on the future direction of…
Estonia’s national transmission system operator, Elering, has postponed plans to build a fourth electricity interconnection with Latvia until after 2038, which was the project’s original completion date, ERR reports. Earlier, Elering postponed a decision on the construction of a third undersea electricity connection to Finland. Reigo Kebja, board member at Elering, said that final investment…
The Estonian Centre for Defence Investments (RKIK) has signed an agreement with the Korea Trade-Investment Promotion Agency (KOTRA) to buy three more Chunmoo multiple rocket launchers from South Korea’s Hanwha Aerospace, Yonhap reports. In December 2025, RKIK signed a EUR 290mn deal with Hanwha Aerospace for six launchers, rockets, and training support, The Korea Times…
Latvia has received the fourth or penultimate payment of EUR 371.2mn from the EU’s Recovery and Resilience Facility, LSM reports. The European Commission approved the successful implementation of 41 specific reforms and investments set out in Latvia’s national recovery plan. Latvia has already received almost EUR 1.5bn (75%) of the total EUR 1.97bn recovery funds…
The number of multinational corporations in the Baltic States was highest in Estonia in 2024, according to Eurostat data, LSM reports. Estonia had 1,199 multinationals in 2024, which was down slightly from 1,220 in 2023. Meanwhile, Lithuania had 984 (1,035) and Latvia 746 (718) multinational enterprises. In 2018, Estonia had as many as 1,529 multinationals,…
Two freight trains derailed in Lithuania within 48 hours on 1 and 2 May 2026, prompting fears of possible Russian sabotage, LRT reported. However, Prime Minister Inga Ruginiene said that the accidents were caused by technical failure or human error, BNS reported. A spokesman for state-owned railway group Lietuvos Gelezinkeliai (LTG) said that the derailment…
Latvia’s Office of Citizenship and Migration Affairs (PMLP) issued 19,900 temporary residence permits to non-EU nationals who invested in the Latvian economy in the period from 1 July 2010 to the end of 2024, LETA reported. According to the Ministry of Economy, the so-called golden visa programme was “an important instrument” for attracting foreign capital…
The Latvian government will have to decide on additional capital needed for the country’s national air carrier, airBaltic, in 2026, Finance Minister Arvils Aseradens stated, LETA reports. He stressed that the airline’s future operations required capital investment. However, the government would have to seek additional sources of funding for such an investment, the minister explained….