On 6 October, Latvian Competition Council made the decision to punish seven companies for secretly coordinating their actions in 29 price surveys performed by Latvijas dzelzceļš for construction and repair work in different Latvian regions. For participation in a secret agreement, the fine applied to companies reaches nearly EUR 52,000.
State Police Economic Crimes Prevention Office has launched a criminal process in relation to Pasažieru vilciens’ diesel trains modernization project worth EUR 22 million, as reported by Panorāma programme of LTV.
On Monday, 31 October, the Saeima conceptually supported amendments to the Micro-enterprise Tax Law that provide start-up businesses with the opportunity to apply for micro-enterprise tax regime before 30 June 2017.
U.S. electric car manufacturer Tesla has unveiled solar panel roof tiles as an alternative to roof materials and additional solar panels added to them.
Bribery-accused Estonian businessmen Oleg Osinovkis hopes for long-term state orders and victories at tram procurements in order to save Daugavpils Locomotive Repair Plant from bankruptcy, as the businessman told De Facto programme.
In the first nine months of 2016, Latvia’s banking sector functioned with profits worth EUR 374 million. All sixteen Latvian banks and three out of seven foreign bank branches in Latvia worked with profits in this nine-month period.
Compared to August, the level of construction costs in Latvia increased by 0.1% in September 2016. Prices of building materials, as well as maintenance and operational costs of machinery and equipment did not change significantly, whereas labour remuneration of workers grew by 0.5%.
The European Parliament has backed the allocation of 1.1 million euros to assist people in north-eastern Estonia, who lost their jobs in mass lay-offs in shale oil production and chemical industry.
On 5 November, Latvia will not only be the host for the 16+1 format, but also the destination for the first official visit by the Chinese prime minister, said Latvia’s ambassador in China Maris Selga.
Lithuanian Roma representatives have been critical about a tour agency organising sightseeing tours to the village of Kirtimai promoted as «an extreme challenge» having a former drug addict as a guide.
In the latest Doing Business 2017 study of the World Bank, Latvia is put on the 14th spot among 190 participating countries. This is historically the highest accomplishment for Latvia and an improvement over last year’s result. In terms of business-friendly environment, Latvia is on the 6th place among EU member states.
Saeima’s Public Expenditure and Audit Committee has sent a letter to the Cabinet of Ministers, requesting the latter to lift restricted access status on all information related to the sale of Citadele Bank.
Reacting to a call from animal rights activists, Estonian environment and rural affairs ministries have found that there is no reason to prohibit fur farming in the country.