Latvia: finance sector’s development council supports prohibition of shell companies

Latvian Prime Minister Maris Kucinskis’ managed Finance Sector’s Development Council supported initiative on prohibiting shell companies, as confirmed by the prime minister. “We have reached an agreement on prohibition of shell companies in Latvia,” said Kucinskis, adding that the government planned to review this matter on April 3, and the Saeima – on April 8.…

Latvia: economy growing fast

The final data on the year 2017 by the European Union statistical bureau Eurostat showed that both the economy of the EU and the euro area had expanded at the quickest pace since 2007. Economist Ryan Djajasaputra of the South-African, British banking group Investec evaluated that much of the growth in 2017 had been driven…

Latvia: throughput of port Riga down in 2017

In 2017 the Freeport of Riga handled 33,674,700 tons of cargo, down by 9% YoY. According to the port authority, coal transshipment fell by 11.4%, to 11.776 million tons, transshipment of oil products totaled 5.64 million tons (-30.3%), wood pellets – 646,000 tons (+16.5%) and ore – 514,000 tons (+26.5%). The port’s container throughput grew…

Latvia: Riga Black Balsam enters US market

Riga Black Balsam brand has begun exploring the market in the United States of America. Exploration of the market commenced with New York, to be followed up by a presentation of Riga Black Balsam in Texas, Florida, San Francisco and Illinois in 2018, as reported by the company’s representatives. “The brand’s start in USA kicked…

Latvia: deputies invited to repair roads

Latvijas celu buvetajs, which is an association with ties to multiple road and bridge construction companies, invites deputies to support the proposal for the restoration of the State Road Fund, the association’s chairman Andris Berzins reported. “We have asked coalition deputies to admit multiple times that the gradual collapse of roads, especially regional and local…