european central bank

Revolut’s valuation has reached 75 billion USD

November 24, 2025March 4, 2026

Today, the financial technology company Revolut announced the completion of a share sale, valuing the company at 75 billion USD. The 75 billion USD valuation is supported by strong business momentum and solid financial results. Revolut’s 2024 revenues increased by 72% to 4.0 billion USD, while profit before tax rose by 149% to 1.4 billion USD. This trend continued […]

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March 26, 2026

Excise tax on diesel fuel reduced for three months

On Thursday, 26 March 2026, the Saeima adopted in the final reading the Fuel Price Increase Limitation Law, which provides for temporary measures to reduce the impact of rising fuel prices on the national economy and the population. Diesel fuel could become cheaper by 8.6 cents per litre. “This is a balanced decision that helps to reduce cost pressures on entrepreneurship while at the same time strengthening economic stability. At the same time, the overall budget revenue is maintained […]

March 24, 2026

Riga Airport is trying to make itself more attractive for the introduction of new destinations

To encourage the introduction of new destinations at Riga Airport, the government on Tuesday reduced the fee that airlines must pay for each passenger on a new outbound destination served by the airport. Although this will ease the financial burden on airlines, the main cost items that, for example, Ryanair complains about will not be changed. For the 2025/2026 winter season, Ryanair has significantly reduced its total seat capacity (by around 20%), concentrating capacity in markets with lower […]

March 19, 2026

By 2028, Agrova Baltics will switch to 100% cage-free egg production. A new investment program worth 30 million euros will be launched in Alūksne

The Latvian food production company group AS “Agrova Baltics” (part of the “Agrova International” holding) has decided to switch to 100% barn-laid egg production at the “Alūksne poultry farm”. The company plans to complete this by 2028 inclusive, thereby becoming the first egg producer in the Baltics to fully implement this transition. The decision was made in response to rapidly growing demand in export […]

March 27, 2026

Does the CVK have fictitious employees? Most likely, at least one.

The Central Election Commission (CVK) employs at least one fictitious female employee who was formally hired so that her husband could avoid paying child support at a faster-increasing rate – this conclusion can quite reasonably be drawn from the information received by the Inc. editorial office and from attempts to verify this information. Early on the morning of March 26, after the current affairs broadcast “Kas notiek Latvijā?” (“What’s Happening in Latvia?”), in one of the messaging apps I […]

March 25, 2026

The reality of the labor market in Latvia: signs of systemic discrimination based on age and qualifications

Despite the growing number of job advertisements and publicly offered bonuses, the actual situation in the labor market in Latvia indicates significant structural problems. The results of the conducted study point to possible systematic discrimination against highly qualified specialists, particularly in the 40 to 50 age group. In both the public administration and the private sector, there are signs that may indicate a merely formal selection process […]

March 24, 2026

In the State Chancellery’s procurement for the development of digital public service design, the lowest bid was submitted by the company of the imprisoned businessman Ceruss

In the State Chancellery’s procurement “Development of the design of state administration digital services. Stage 2.” the lowest bid was submitted yesterday by the company “Corporate Consulting” owned by the arrested businessman Ceruss, according to the bid opening record of 23 March. In total, nine companies have submitted bids in the tender, including PricewaterhouseCoopers, Emergn, Civitta Latvia, CUBE Agency, Raccoonery, SDSI studio and TRY Riga. The bid prices range from 27,888 euros to 33,000 euros. […]

March 23, 2026

State Secretary of the Ministry of Environmental Protection involved in IT scandal temporarily suspended from office

Taking into account the public interest regarding publicly available information about a possible involvement in the unlawful transfer of restricted-access information related to IT procurements, the Minister for Smart Administration and Regional Development, Raimonds Čudars, has suspended the Ministry of Environmental Protection state secretary Edvīns Balševics from performing his official duties, the ministry informs. “Within the framework of the investigation, it is important to ensure that all persons involved in the violations of law are brought to justice, the Ministry of Environmental Protection and the State Regional Development Agency fully […]