News
Tourists can now insure themselves against rain
The tour operator Tez Tour, in cooperation with the insurance company Ergo, has developed a new insurance solution that allows travelers to receive compensation in situations that until now have not been covered by traditional insurance terms either in Latvia or elsewhere in the Baltics. As the tour operator reports, a new insurance solution was introduced with the flights to Egypt on 25 and 26 October. As Tez Tour Latvia explains […]
In the Latvian business environment, the trend of obtaining corporate loans quickly is strengthening
The saying “Time is money” is one of the basic principles of the business world, and in Latvia’s business environment right now it is truer than ever. The dynamic work pace is reinforcing the trend for companies to promptly borrow the funding needed for project implementation and to repay it flexibly, using grace periods and other solutions. Data compiled by the business financer Cityfinances show that businesses seek to receive funding within a day and […]
There was a regulated tariff for independent heat producers, but the deputies repealed this provision as insignificant
The Saeima faction of the party “New Unity” has prepared a draft amendment to the Energy Law in order to introduce a regulated tariff for independent heat energy producers in Riga, as this is expected to help reduce the heating tariff. This is evidenced by a post on the social network X by Saeima deputy Andris Kulbergs (United List), where he adds that he agrees that in this way partial improvements can be achieved. None of the politicians, however, has added that […]
The prohibition on adding flavorings to electronic cigarettes complies with the Constitution
The Constitutional Court has recognized as compatible with the state’s fundamental law the provisions establishing restrictions on the composition of electronic smoking devices and tobacco substitute products. The Court emphasizes that commercial activity is important for the development of the national economy; however, in the present case it must be taken into account that the benefit from the restriction of fundamental rights contained in the contested regulation is enjoyed by each individual as well as by society as a whole, since the contested regulation reduces electronic […]
Create a “crisis support center” for farmers in difficulty
To ensure timely and coordinated economic and legal advisory support for farmers in difficulty, close cooperation and effective information exchange between the institutions involved is necessary. Therefore, in order to provide crisis assistance to farmers in difficulty, the Minister of Agriculture Armands Krauze has instructed the Latvian Rural Advisory and Training Centre (LLKC) to establish communication channels (telephone, e-mail, online form, in person) by 24 October. The latest […]
Cēsis beer is not yet allowed to take over Valmiermuiža beer – the opinion of the sector is being asked
The Competition Council, after a month-long investigation, has decided not yet to allow Cēsu alus to take over Valmiermuiža alus. To make a decision, the Council still needs the views of HoReCa sector representatives. The Competition Council invites HoReCa sector participants and other interested parties to express their opinion on the impact of the merger on competition. Market participants or other interested parties who wish to provide their opinion on the impact of the planned merger on […]
For military-oriented startups, European money is becoming more accessible
For manufacturers of new or significantly improved dual-use – civil and military – products, access to European Union co-financing has been significantly facilitated. Start-ups could be especially grateful for these amendments. The relevant regulatory framework, developed by the Ministry of Economics, was approved by the government on 21 October. Until now, it was stipulated that, in order to apply for support for the development of new or significantly improved dual-use products, project […]
The “window” for taking out reckless loans is narrowing
Author someone else The Ministry of Economics has prepared amendments to the Regulations on information about payment obligations to be included in the credit information bureau database, which will reduce borrowers’ chances of obtaining a credit that they will later be unable to repay. The Cabinet of Ministers will review the Regulation on 21 October. The Ministry of Economics states that the draft regulation has been drawn up to improve consumer protection and prevent situations where lenders do not have access to all essential information on the consumer’s ability to repay […]
An international artificial intelligence community “AI Salon” is coming to Latvia
This November in Riga, “AI Salon” – an international artificial intelligence (AI) community – will start operating, bringing together AI startup founders, developers, investors, and partners to promote cooperation, knowledge exchange, and new contacts, Tet reports. “AI Salon” operates in more than 40 cities worldwide, and in each of them we see how the power of the local community accelerates innovation and creates […]
CenuKlubs.lv will cease operations
After 23 years of operation, the company SIA cenuklubs.lv, which owns stores of the same name, is preparing to cease its activities, company board member Arnis Šķerbergs confirmed to Inc. More than 150 employees will lose their jobs. The entrepreneur did not wish to provide more detailed information. In the past, the company had four stores in Riga and one in Talsi. Now, according to the information available on the company’s website, it has only […] left.