Events, data and analysis from the Baltic economies
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Events, figures and analysis from Latvia.
The Latvian government has extended its ban on irregular international passenger bus services to Russia and Belarus until 31 October 2027, maintaining restrictions first introduced in November 2025. The ban…
Latvia has confirmed its first cases of bluetongue disease after laboratory tests detected the BTV-3 virus in two cattle at a small farm in South Kurzeme, the Food and Veterinary…
Japanese technology company Epson has opened its European Business Services Centre in Riga following an investment of €6 million, according to the Investment and Development Agency of Latvia (LIAA). The…
Swedish industrial technology company Cemvision has been selected for an EU Innovation Fund grant of up to €27.5 million to support construction of its first commercial-scale low-carbon cement plant in…
Latvia’s general government deficit rose to €1.085 billion, or 2.5% of GDP, in 2025, from €744.8 million, or 1.8% of GDP, in 2024, according to updated figures from the Central…
Latvia’s Vidzeme Regional Court has ordered IT company Squalio Group to pay €2.3 million in a case involving the bribery of a Belarusian official in 2015. The appeals court overturned…
Latvian financial services group INDEXO has received a €3 million investment from Lauris Liberts, co-founder and co-owner of Draugiem Group, as it prepares for a planned listing on Nasdaq First…
Norway’s largest bank, DNB, has confirmed that employees at its Riga service centre will be affected by a restructuring that will eliminate approximately 400 full-time-equivalent positions across the group’s Technology…
Latvia is facing calls to review its procedure for granting citizenship for exceptional services to the country after parliament reversed its decision to award citizenship to Indian-born researcher Divya Kannan…
Latvia’s Inčukalns underground gas storage facility has entered the 2026/2027 winter withdrawal season with nearly 12 TWh of natural gas, according to transmission and storage operator Conexus Baltic Grid. The…
Source: Conexus Baltic GridLatvia’s efforts to stop Russian and Belarusian grain shipments through its ports are facing legal and commercial obstacles, despite a new increase in railway infrastructure charges. From 13 October, infrastructure…
Latvia’s INDEXO Bank is preparing a leadership transition, with Jānis Pizičs scheduled to join its management team on 26 October and subsequently take over as chairman of the management board,…
Estonian logistics group Omniva has asked the European Commission to assess the financing of universal postal services in Latvia and Lithuania. The company submitted complaints concerning the mechanisms used to…
Retail wood pellet prices in Latvia have risen sharply, driven by supply constraints, production costs and demand from export markets, according to an assessment by the Competition Council. Between October…
A Lithuanian-owned wind park near Liepāja has been ordered to stop its turbines after 18 protected bats were found dead around the site within two weeks — twice the threshold…
The Latvian airline has received €140 million in emergency funding, but its Chapter 11 restructuring is opening a dispute over the value of aircraft collateral, creditors’ repayment rights and the future of state ownership.
PhotoAmber Latvijas balzams, the historic producer of Riga Black Balsam, is facing possible bankruptcy after creditors rejected its restructuring plan and Latvia’s tax authority froze its bank accounts again. The future of one of the country’s largest spirits…
PhotoIn 2025, almost everything in Latvia was shrinking: the population, births, remigration, immigration and even the number of deaths. Yet employers and universities continued to draw thousands of people from abroad. Their numbers are far too small to…
PhotoLatvia has allocated €3.2 million in public funding this year for measures promoting investment and exports. Meanwhile, MiTek Industries, part of Warren Buffett’s Berkshire Hathaway group, says its new Latvian company has spent four months trying to obtain…
PhotoTThis week airBaltic’s Chapter 11 reaches its next important checkpoint. Objections to the final DIP financing order are due on October 2, ahead of the final hearing on October 9 in the U.S. Bankruptcy Court for the Southern…
PhotoairBaltic has entered a US court-supervised Chapter 11 restructuring after months of attempts to stabilise its finances. Flights continue and the airline has commitments for €350 million of new financing. The procedure now has to answer a more…
PhotoŠkoda Group has bought 36% of L-Ekspresis
PhotoS&P Global Ratings downgraded airBaltic to SD, or Selective Default, and lowered the rating on its €380 million senior secured bonds due in 2029 to D.
PhotoA cyberattack on Latvia’s Road Traffic Safety Directorate (CSDD) has developed into a wider governance crisis after authorities disclosed the scale of the breach and shortcomings in the institution’s cybersecurity arrangements. Data affecting 1.2 million individuals and around…
PhotoRescuing the airline could reward late bond buyers, protect Riga’s hub and preserve capacity for Lufthansa Group.
PhotoLatvia paid €168.1 million from the state budget to NGOs in 2025. The funding went to 1,940 organisations — about 7% of the country’s 27,884 registered associations and foundations. The figures are at the centre of a sharp…
Photo13,000–15,000 vehicles cross Latvia’s Pāternieki border checkpoint in an average month.
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