Freight volume handled in the Port of Liepaja in January-May fell by 2.7% YoY, to 3,067,300. In the reporting period, transshipment of grain fell by 21.3%, to 1,081,300 tons, while that of anthracite grew by 8%, to 267,800 tons, construction materials – by 45.2%, to 380,000 tons, and oil products – by 1.5%, to 162,200…
Until all problems with Rigvir medication have been resolved, State Agency for Medicines (SAM) has decided to put its registration on hold. SAM explains that several quality defects have been found for several Rigvir medication series this year. This is why the decision was made to halt its distribution. The company that has registered Rigvir…
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, as concluded in Latvia’s Culture Ministry’s ordered social-economic analysis. According to estimates, the concert hall project’s economic viability…
U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) distances from Latvian Finance and Capital Market Commission’s (FCMC) statement regarding the coordinated liquidation model for ABLV Bank, as noted by the US Embassy in Latvia. FCMC had previously reported that after meeting with representatives from FinCEN the committee saw no obstacles for the execution of FCMC’s…
At the end of April the Port of Riga opened the 2019 cruise season when the 300-meter cruise ship MSC Poesia entered the port. MSC Poesia is owned by the cruise line MSC and brought more than 2,500 tourists to Riga during its Baltic cruise. The 10-day cruise started in Warnemunde, Germany, and had already…
Compared to March, consumer prices in April possibly grew by 0.6-0.8%, which means annual inflation in Latvia has reached approximately 3.2-3.4%, bank analysts predict. Swedbank’s acting chief economist in Latvia Agnese Buceniece notes that in April, when compared to March, consumer prices increased by 0.6%, whereas annual inflation was approximately 3.2% when compared to April…
Augusta Deglava Overpass was reopened for public transport on May 4. A speed limit of 20 km/h was imposed, however. Riga City Council, Transport Department, Riga City Construction Office, State Police and State Construction Control Office representatives agreed as much on May 3. During the joint meeting, participants discussed the option to reopen the bridge…