ABLV Bank will be liquidated in accordance with Latvia’s laws, because preservation of this credit institution is not in the interest of the country’s society, announced the European Central Bank. In the report, ECB concluded that ABLV Bank and its subsidiary ABLV Bank Luxembourg were expected to collapse in the near future. ECB has informed…
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…
Freight volume handled in the Port of Liepaja in January climbed by 10% YoY, to 643,000 tons, the Port Authority says. In the reporting period transshipment of grain declined by 0.3%, to 286,900 tons, while construction materials grew by 68.3%, to 54,800 tons, but timber fell by 14.8%, to 26,200 tons, and oil products surged…
The 2019 state budget will not have free fiscal space, said chairman of Fiscal Discipline Council (FDC) Janis Platais. He mentioned that everything that was possible to promise had been promised. Because of that, the budget has no free funds. “If plans come up to increase funding somewhere, it will be necessary to reduce it…
AS Air Baltic Corporation will launch a new summer season route between Almaty and Riga on April 29, the airline’s press service reported. The new route will provide new convenient travel opportunities for passengers from the Baltic countries and Kazakhstan to the destinations of airBaltic’s route network that covers Europe, Scandinavia, Russia, and the Middle…
At the end of 2017 a running test of the icebreaker Varma, owned by the Port of Riga was performed. Based on test results as well as information provided by the Freeport of Riga services, the Freeport of Riga Captain Arturs Brokovskis is convinced that the Port of Riga is ready for winter and ice…
Members of the Latvian Association of Agricultural Cooperatives – a total of 18 cooperatives – agreed on improving positions of farmers in the Baltic region. “The goal behind cooperation is ensuring a comprehensive dialogue with milk-processing companies regarding the procurement price under conditions when the global market reduces dairy product prices. We remind that the…