Starting from July 2, Luminor bank will begin applying restrictions to payments made using code cards or GO3 code generators. “Because code cards will remain valid until September 10, clients will be able to gradually adapt to more secure authentication tools. Changes are planned because of stricter EU requirements towards clients’ digital authentication to increase…
On March 31, Latvian airline airBaltic launched the second summer route connecting Riga and Stuttgart, Germany. In addition, airBaltic has also started flights between Riga and Lviv, Ukraine. Martin Gauss, Chief Executive Officer of airBaltic, comments: “Our business strategy Destination 2025 foresees even growth of our destination network. We will continue to increase the number…
Compared to January, the level of construction costs in Latvia rose by 0.4% in February. Maintenance and operational costs of machinery and equipment increased by 0.8%, prices of building materials by 0.5%, while labor remuneration of workers decreased by 0.1%. In February, the average level of construction costs was mainly influenced by an increase in…
To finance the reconstruction of Krasta Street and Brasas Bridge, Riga City Council plans to take a EUR 14.23-million loan from Latvia’s State Treasury, according to documents added to the working agenda of Riga City Councils Finance and Administrative Affairs Committee. To finance the restoration of Krasta Street surface, it is planned to take a…
Looking at the amount of taxes companies pay, 55.6% of businessmen and CEOs said they were too high, 36.5% said taxes were a bit too high, whereas 7.2% said taxes were as high as they needed to be, according to data from Turiba University’s Business Index. Compared to answers provided in 2018, it can be…
It is clear there are too many banks for Latvia’s domestic market, said chairman of Finance and Capital Market Commission Peteris Putnins. He admitted that not a single bank present in Latvia worked with just one clientele segment. However, the country’s market is not big enough for them to work as widely as Scandinavian banks,…
Latvian Interior Affairs Minister Sandis Girgens wants to increase wages for the “least paid people” employed in the interior affairs sector. For example, the plan is to equalize the wages of police cadets, which is currently EUR 450, to the lowest wage in the country’s National Armed Forces, which is EUR 520. At the same…