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Friday 06.12.2019 | Name days: Niklāvs, Niks, Nikolajs

Economists expect wage growth to continue in Latvia

Economists in Latvia agree that although the process will be slower, wage growth in the country will continue. Shortage of workers, demands from sector for politicians, exiting from the grey sector and last year’s increase of minimal wages have affected wage growth indexes this year.

Estonian electricity grid operator enters deal to join European network

Estonian electricity and gas network operator Elering has signed the agreement to become part of the synchronous electricity network of Continental Europe together with Latvia and Lithuania.

Baltic railway carriers desire open market for free competition

«Attempts to commence cross-border cooperation with private carriers of neighbouring Baltic States are impeded in order to preserve dependence on services of state railway companies,» said Baltic Express director Māris Bremze after a meeting between heads of Baltic private railway carriers.

Study: 50.6% of enterprises view Latvia’s business-related legislative environment negatively

Latvia’s business-related legislation is poor to very poor, according to 50.6% of interviewed entrepreneurs. Only 19.2% view legislation as either very good or more or less good, according to Turība University’s Business Index.

Producer prices in industry in Latvia grow 3.8% in April

Compared to April 2018, average level of producer prices in Latvian industry increased by 3.8 % in April 2019. The level of prices of products sold on the domestic market rose by 6.0 % and that of exported products – by 1.8 %.

Estonia-developed TransferWise highest-valued fintech start-up in Europe

The Estonia-developed cash transfer service TransferWise has been valued at 3,1 billion euros. This makes the British-based firm the leading financial technology start-up by value.

Latvian railway company Pasažieru vilciens hopes to sign train supply contract this year

Latvian joint stock company Pasažieru vilciens might succeed in signing the contract for the supply of electric trains before the end of 2019 even if Procurement Monitoring Bureau expands procurement documents with new requirements, said PV board chairman Rodžers Jānis Grigulis.

OECD: Baltic region's most rapid growth predicted for Estonia

Organization for Economic Co-operation and Development has published its latest outlook. In it, the organization expects Latvia to experience the slowest economic growth among Baltic States.

Latvia re-reviews train procurement and declares Škoda Vagonka the winner

After reviewing the train procurement for a third time, Latvian railway company Pasažieru vilciens declared Czech Škoda Vagonka the winner, as confirmed by the company.

30% of companies have yet to successfully adopt GDPR guidelines

A year after the European Union adopted the General Data Protection Regulation only 25.1% of Latvian companies can confidently confirm having adopted the regulation without problems, according to a survey by Tildes Jumis.

Prediction: Latvia’s new concert hall will recover investments in 15 years

In the first 15 years after construction of Latvia’s new National Acoustic Concert Hall it will earn Latvia’s national economy a total of EUR 107.6 million, fully compensating investments and creating additional profits of EUR 17.6 million.


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