Multiple potential investors could start a due diligence review in Latvian national airline airBaltic, says Latvian Transport Minister Uldis Augulis. He says the Cabinet of Ministers has been informed about the progress with attraction of a new strategic investor for the airline. In total, more than 40 potential investors from all over the worlds have…
If fuel consumption drops considerably in the country, the government may reconsider the decision to increase excise tax, said Latvian Finance Minister Dana Reizniece-Ozola. She says the decision to increase excise tax for fuel, cigarettes and alcohol is a compensating mechanism to secure income for the state budget lost as a result of the tax…
Latvian airline airBaltic carried 372,219 passengers in June, up by 23% YoY. It is now the airline’s latest record. In the first six months of 2017, airBaltic carried a total of 1,565,462 passengers to destinations in Europe, Scandinavia, Russia, CIS and the Middle East. airBaltic’s CEO Martin Gauss says the airline has managed to exceed…
This year has seen an increase in demand for consumer loans – EUR 9.3 million was provided to clients in the first half-year of 2017, up by 15% YoY, as reported by SEB Bank representatives. “According to SEB Bank’s data in summer months residents more actively use loans to purchase cars, perform home repairs, travel…
In the next three years, EUR 20 million will be invested in the new Laima manufacturing plant in Adazi, as reported by representatives of Orkla Confectionery & Snacks Latvija. The total area of the new manufacturing plant will be approximately 6,500 square meters. “The location chosen for the new plant will secure Orkla Confectionery &…
Planning for faster increase of excise tax rate on fuel, cigarettes and alcohol, the Latvian Cabinet of Ministers has backed amendments to the law On Excise Tax. The amendments set forth raising from 2018 the excise tax rate on unleaded petrol by 7.8%, on leaded petrol by 24%, on diesel by 11% and on liquified…
In January-June the Freeport of Riga handled 17,512,200 tons of cargo, down by 4.1% YoY. Coal transshipment climbed by 7.4%, to 6,398,600 tons, wood pellets by 13.4%, 353,000 tons, oil products dropped by 31.8%, to 3,270,400 tons, ore by 9.2%, to 165,400 tons. The port’s container throughput grew by 14%, to 208,107 TEUs. Passenger turnover…