News
New construction cartel uncovered: Illegal agreement links five companies
The Competition Council has adopted a decision establishing a cartel among five construction companies. In fines, the companies together will have to pay more than half a million euros. The Competition Council promises to reveal the names of the companies tomorrow – on 11 September – but for now it discloses that the illegal agreement has affected more than 30 procurements throughout the territory of Latvia. The Competition Council identified the first construction cartel in 2021. At that time […]
5.4 million euros will be invested in expanding the Spilva production plant
The food production company Orkla Latvia will invest 5.4 million euros in the sauces and ready-made meals brand Spilva production plant in Spilve, Babīte. The extensive investment plan envisages expanding the production building and modernizing the main production lines in order to ensure a rational production flow and automation possibilities, as well as to increase production speed and reduce staff workload. “Spilva’s most popular product types – mayonnaises and sauces […]
Altum could start issuing regional “Vainis’ loans” as early as this year: immigrants will also be eligible to apply
“Active preparatory work is currently underway, but it is planned that the new application program will be opened at the end of October or the beginning of November,” Altum head Reinis Bērziņš told Inc. Until then, the program regulations still have to be approved by the Cabinet of Ministers. Loans will be available to natural persons who are at least 18 years old and to those who, at the time of the final loan repayment, will not have exceeded the age of 65. […]
On the issue of gender balance, entrepreneurs can breathe a sigh of relief: It could cost the state hundreds of thousands
Ensuring gender equality in the management of two Latvian companies will still not become a mandatory requirement. A majority in the Saeima has, for the second time, rejected the draft law prepared by the Ministry of Welfare on ensuring gender balance in the management bodies of capital companies. For the companies, this of course allows them to breathe a sigh of relief, but for Latvia it may cost a few hundred thousand euros. According to the criteria included in the draft law, at present it would apply only to two […]
In several ministries, saving is not mandatory: the reduction of expenses is a fiction
Contrary to the plan this spring to cut ministry expenses by a mere 150 million per year, it turns out that even this is not mandatory for all ministries. For example, in the ministries headed by the “Progressives”, there will be almost no savings at all. The exact reason for such leniency is not known, but an Inc. source at the Ministry of Finance admits – this was the coalition’s agreement. However, it should begin with a reminder – Inc. […]
They want to patch the budget by draining Latvenergo: It is proposed to leave only 10% of the profit
Contrary to what was planned during the preparation of the 2025 budget and approved in the Saeima, namely that state-owned enterprises would have to pay 70% of their annual profit into the state budget as dividends until 2027, the government has now put forward an initiative stipulating that, starting already next year, the amount to be paid out as dividends must be at least 90%. This is evidenced by the agenda of the Cabinet of Ministers meeting on 2 September […]
In Riga you have to reckon with some of the highest car parking rates in the Baltics: we even surpass Tallinn
Although Tallinn is often considered the most expensive capital in terms of parking, a comparison with the tariffs set by the Riga municipality shows that our capital has surpassed this benchmark. Parking in the center of Riga and in the Old Town has become a significant expense item for drivers. For example, the first hour in the Old Town costs 5 euros, but each subsequent one – already 8 euros, which means that for […]
Despite the declared winner, in three Riga schools children will be catered without a tender by “Baltic Restaurants Latvia”
“Contracts have been concluded with caterers in all Riga schools” – with this announcement on Thursday, August 28, came Riga Vice Mayor Vilnis Ķirsis and the acting director of the Department of Education, Culture and Sports, Ivars Balamovskis. However, they did not specify whether the contracts were concluded with the winners of the procurement or with someone else. Inc. already wrote at the beginning of August that, due to the sluggishness of the Riga City Council, there was a risk that several […]
Viada will become more attractive to drivers: It will also be possible to charge electric cars
In Latvia, the financially least successful fuel station owner – Viada joint stock company – has been given a chance for a boost by Latvenergo. The companies have agreed that by 2030, 134 Elektrum Drive charging points for electric vehicles will be installed at 55 of Viada’s 101 fuel stations. Company representatives made this announcement while opening the first electric charging station in Jēkabpils, at 6 Varoņu Street. Four are already available there […]
Riga City Council is delaying the delivery of the harvest to the port: Officials are not heeding even the call of the President of the State
Despite the fact that the Cabinet of Ministers has declared a state of emergency in agriculture, the Riga City Council, contrary to the usual procedure so far, has rejected the request of the Farmers’ Saeima to allow heavy vehicles carrying grain and rapeseed to the Port of Riga to move along designated routes around the clock. Officials performing various control functions have also not heeded the President’s call not to disturb farmers with their presence at this time. The Farmers’ Saeima […]