European Central Bank increases base interest rate to 3%
On Thursday, the 2nd of February, the European Central Bank (ECB) decided to increase the base interest rate by 0.5 percentage points to…
Category: Business
Ferry traffic at Freeport of Ventspils reaches new peaks in 2022
The sea port has registered new records in ferry traffic. Certain pre-pandemic levels have been reached and even exceeded, as reported by the…
Beverage container deposit system in Latvia turns one year old
The system’s operator – Depozīta Iepakojuma Operators LLC – reports that since the launch of the system last year, residents in Latvia have…
Constitutional Court to look into Latvian government’s given permission to cut down young forests
The Constitutional Court (ST) reports having initiated a case over government regulations that narrowed the average size of trees to be felled, which…
Financial institutions’ profits up to EUR 326.3 million in 2022 despite various economic challenges
Latvian monetary financial institutions (MFI) – mainly banks – operated with profits of EUR 326.3 million in 2022, which is 26.5% more when…
Swedbank Estonia head: No reason to talk about panic
The rising Euribor rate and rising unemployment could mean that banks are reluctant to issue loans, but the CEO of Swedbank Estonia says…
Natural gas market still requires caution, Latvenergo warns
At the end of 2022 the price of natural gas went down in Europe’s wholesale market. This was largely caused by the drop…
SEB Nordic Outlook predicts light global recession at the start of 2023
According to the updated forecasts listed in SEB Bank’s Nordic Outlook, the global economy continued showing a good level of stability last year….
Food Union restarts exports of products to Ukraine
Latvian dairy products producer Food Union reports that in 2022 the concern started selling the iconic cottage cheese snacks Kārums in Norway. On…
