News
Technology created in Latvia makes it possible to mine Bitcoin and produce heat at the same time
The Latvia-founded company Power Mining has this year created a unique data center that converts the heat generated during Bitcoin mining into district heating energy. This technology makes it possible to recover up to 95% of the heat produced by servers and transfer it into the city’s heating network, providing heating for approximately 2,000 households. In Europe, data centers already consume more than 3% of the continent’s total electricity, and […]
Investment price: one Estonian is guaranteed timber for ten years without an auction, at the agreed price
The Estonian company Fibenol, which plans to build one of the most modern biorefinery plants in Europe in Valmiera, promising to invest up to 700 million euros in it, is trying to reach an agreement with the Latvian government on more favorable conditions for purchasing pulpwood. The company wants to buy 300 thousand cubic meters of birch pulpwood per year from “Latvijas Valsts meži” without an auction and at an agreed price. This fact was reported this spring […]
Financial Times ranks Eleving Group 57th among the fastest-growing European companies of the last decade
Eleving Group, an international financial technology company listed on the Frankfurt and Riga stock exchanges, is ranked 57th in the overall “Europe’s Long-Term Growth Champions 2025” rating and 1st in the financial technology, financial services, and insurance category. Eleving Group is the only company from Latvia included in the list. “Eleving Group is currently operating in 17 countries worldwide. Over the past decade, we have strategically expanded […]
The Competition Council has imposed a 1.8 million euro fine on Maxima
The Competition Council has imposed a fine of 1.8 million euros on one of the largest food retail companies – Maxima Latvia – for unfair trading practices. The company will appeal this decision in court. “Maxima Latvia today received the decision of the Competition Council, in which the company is accused of, in certain cases, not agreeing to the commercial terms offered by suppliers. Maxima Latvia categorically disagrees with the interpretation of the Competition Council. Latvian legislation […]
The Competition Council imposes a fine of 1.8 million euros on a retailer – it is reportedly not RIMI
The Competition Council has imposed a fine of 1.8 million euros on one of the largest food retail companies for unfair trading practices. It is said not to be RIMI. For now, the CC is not providing more detailed information; this will be done at the press conference scheduled for Thursday, 6 November. RIMI public relations representative Inga Bite, in a conversation with Inc., denied that the fine had been imposed on this retail chain. Meanwhile, with Maxima’s public […]
MICA regulation: competitive “on paper”, in practice – nothing
Since mid-August, the number of licensed crypto-asset service providers in the European Union has increased by 52%, reaching 82 companies. Latvia, however, has not yet issued any licenses, as the Bank of Latvia has concerns about the potential market players’ reputation and level of maturity, the Head of Financial Technology at the Bank of Latvia emphasized at a meeting of the Subcommittee on Innovation Ecosystem Development of the Saeima Sustainable Development Committee […]
Farmers’ Saeima: The result of the “Valainis memorandum” is a more challenging cooperation with supermarkets
In the assessment of the Farmers’ Saeima association, the memorandum on reducing food prices, which was signed this spring by the Ministry of Economics (EM), retailers, and food producers, has so far not delivered the promised result. Member of the board of the Farmers’ Saeima association, Mārtiņš Trons: “Politicians stirred the air, but there is still no result or visible benefits. Quite the opposite – cooperation between farmers and retailers has become even more challenging.” By signing the memorandum on reducing food prices […]
Industrial construction – the real economic indicator
One of the most accurate barometers of Latvia’s economic health is industrial construction – the development of factories, warehouses, logistics centers, and agricultural infrastructure. These facilities are not built impulsively. They are created only when developers – entrepreneurs – feel safe and stable in the long term. Such projects require lengthy planning, large-scale investments, and confidence that business development will be stable not only today, but […]
Latvenergo, by borrowing, plans to reduce the price of electricity
Latvenergo, which from next year must pay 90% of its annual profit into the state budget instead of the current 70%, will borrow up to one billion euros over the next three years. Contrary to some suspicions, the money will be invested in renewable energy projects, not in buying out Tet and LMT, Inc., explains the company’s Director of Communications, Andris Siksnis. After the announcement distributed by Latvenergo on 31 October that the company […]
The largest shareholder of APF Holdings is establishing a new international food production group of companies, Agrova International
APF Holdings (hereinafter – APF), which includes one of the largest poultry and egg production companies in Latvia, SIA Alūksnes putnu ferma, whose largest shareholder is Jurijs Adamovičs, has established a new food production group, Agrova International, with the aim of becoming a rapidly growing European-level producer of poultry, eggs, and innovative egg products. Agrova International has taken over from Jurijs Adamovičs […]