Cartels are not a sudden appearance in Latvia, it is a phenomenon that has been swept under the rug for a long time, as experts explained at the “Competition in business: influence of cartels, lobbyist activity and black PR” discussion organized by Turiba University. Corruption Prevention and Combating Bureau’s (KNAB) former head Jaroslavs Strelcenoks said…
A week from now, from September 9 onward, Swedbank clients will no longer be able to use code cards to use internet banking services, Swedbank warns. Clients who still have not transitioned to other authentication tools are urged to do this within the week. Once the time is over, clients who have not switched to…
For Latvian train company AS Pasazieru vilciens to buy 32 new electric trains, a contract with the Czech manufacturer Skoda vagonka has entered into force when the latter submitted a collateral security for the implementation of the contract, said a representative of the Latvian firm. Agnese Licite from Pasazieru vilciens said that now Skoda vagonka…
Due to the rapid rise of online casinos and the number of people learning the slot machine guide. Latvian coalition party representatives have offered to improve the fiscal space of the 2020 budget, for example, by introducing a fee on banks and raising the gambling tax on slot machines. On August 29 a meeting of…
Energy companies in Latvia produced 357,655 megawatt-hours of power in July, the lowest level of national power output since July 2018. This allowed to cover 64% of the Latvian electricity consumption, according to AS Augstsprieguma tikls (AST). The independent transmission system operator AST stated in its review of the power market on August 22 that…
Viktoras Pranckietis, the speaker of the Lithuanian Seimas, says Latvian Prime Minister Krisjanis Karins has reassured him that his country does not intend to purchase electricity from Belarus’ Astravyets nuclear plant under construction close to the Lithuanian border. “I met with the Latvian president, the chairwoman of the Saeima and the prime minister in Aglona…
The Deposit Guarantee Fund is sufficient to pay compensations to affected PNB Bank clients. This means not a cent from Latvia’s state budget will be used, said Latvia’s Finance Minister Janis Reirs. Reirs stressed that Latvia’s deposit guarantee system was secure and it was commendable that 99.2% of PNB Bank’s depositors would be able to…