The Finance and Capital Market Commission (FKTK) has permitted the merge of Signet Bank and Expobank, as confirmed by the commission. The Council of FKTK permitted the acquisition of Signet Bank’s shares by Expobank. This means as of July 11, operations of both banks are united in a single institution. From now on all operations…
Compared to June 2021, the average level of consumer prices increased by 19.3% in June. The average level of consumer prices was mainly influenced by the rise in prices of goods and services related to housing, food and non-alcoholic beverages, goods and services related to transport, restaurant and hotel services, within the miscellaneous goods and…
Latvia’s Ministry of Economics predicts the national economy will increase by an average of 4.2% a year between 2022 and 2030. Between 2031 and 2040 the average growth of the national economy is expected to reach 3% annually, according to the ministry’s report on the labour market’s medium and long-term outlooks. The report explains that…
Energy will definitely remain expensive in the future, governor of the Bank of Latvia Martins Kazaks has said. “There is no reason to keep glancing hopefully at the past – it will not come back, last year’s snow has already melted, so to speak,” said Kazaks in regards to the rise of energy prices. He…
Reduction of excise tax for fuel should be evaluated, says Latvian Minister of Economics Ilze Indriksone. “In March, when the first major price rise was observed, we proposed reducing excise tax to the minimal rate in the European Union. It is important to reduce the price to stop it from going up or to reduce…
Estonia and Latvia are jointly to procure mid-range air defense systems following an agreement at the NATO Madrid Summit. Defense minister Kalle Laanet (Reform) and his Latvian counterpart Artis Pabriks signed a letter of intent while in the Spanish capital, which would create a legal framework for the systems’ joint procurement. Laanet said: “The NATO…
On June 30, two guarded freight trucks sent from a manufacturing plant in Ostrava delivered the remaining two out of four new passenger cars for the new electric train, as reported by JSC Pasazieru vilciens. To rolling part, roof parts and the first two passenger cars arrived in Riga last week. With that, Latvia has…