One of the leading cosmetics producers in Latvia – Kinetics Nail Systems – has received a significant amount of funding from Nordea Bank. EUR 400,000 will be used to refinance standing commitments and provide turnover funds. “This year’s funding from Nordea Bank will be used for the development of new formulae, expansion of products offered…
The legislative draft, which is intended to ratify the agreement for the formation of Rail Baltica railway connection in Estonia, Latvia and Lithuania, was supported unanimously by Saeima’s Foreign Affairs Committee on June 14. The goal of the agreement is ensuring effective and quick establishment of European railway line for passenger and cargo transports on…
Pasazieru vilciens will continue the procurement of new trains in the second stage of the process. This was conceptually approved by the government on June 13. Transport Ministry reports that new trains are planned to be procured using credit resources, not funding from the state budget. PV promises to perform a new procurement immediately by…
In April Latvian foreign trade turnover amounted to EUR 1.88 billion, up by 0.5% YoY, and the exports and imports values of goods were 1% and 0.2% higher, respectively. In April Latvia exported goods in the amount of EUR 859.6 million, and imported goods in the amount of EUR 1.02 billion. The foreign trade balance…
In January-May the Freeport of Riga handled 14,879,700 tons of cargo, down by -4% YoY. Coal transshipment climbed by 10.4%, to 5,531,700 tons, oil products dropped by 30.8%, to 2,845,500 tons, wood pellets increased by 14.5%, to 323,600 tons, ore – by 0.2%, to 164,900 tons. The port’s container throughput grew by 12.9%, to 174,585…
Compared to May 2016, the average level of consumer prices increased by 2.8% in May 2017. Prices of goods grew by 2.6% and prices of services by 3.6%. Compared to May 2016, the greatest pressure on the price changes was put by the rise in prices of food and non-alcoholic beverages, goods and services related…
In January-May the port of Ventspils handled 10.8 million tons of cargo, up by 20% YoY. According to the port authority, transshipment of Ro-Ro cargo grew by 24%, to 166,000 tons Ventspils Nafta handled 3.8 million tons (-5%), Kalija parks – 175,000 tons. The number of passenger carried by Ventspils-Nynashamn line grew by 33%, to…