The average price of a two room flat ranges from a whopping €50,000 to just over €1,000 in Latvia, according to State Land Service 2015 data.
The proposed tax shake-up will reduce inequality contrary to what the European Commission's representative office says, claimed Bank of Latvia President Ilmārs Rimšēvičs appearing on LTV May 26.
The bill adopted by the Saeima last week, providing for harsher state language requirements for foreigners who buy farmland in Latvia, will negatively affect Latvia’s further development, said Swedish Ambassador to Latvia Henrik Landerholm in an interview with LETA.
A whopping 32% of Latvian residents do not have any savings compared to 24% of residents in Estonia, and 20% in Lithuania, said Edgars Zilde, a project manager at the Latvian branch of Nordea Bank, citing the latest Nordea survey.
The highest wages at mid-to-large sized companies in 2015 were recorded in Rīga and the surrounding municipalities.
The upcoming tax reform hangs on the decision by the European Commission and will have to be scaled down should Latvia is not allowed to increase its budget deficit, said MP Augusts Brigmanis, head of the Union of Greens and Farmers' Saeima group.
The State Audit Office will turn to the Prosecutor General over the misuse of funds paid in bonuses for employees at state institutions last year. The office claims up to €6.3m might have been misused in paying bonuses for public employees, Audit Office head Elita Krūmiņa said on May 18.
Latvia's parliament, the Saeima, on May 18 passed a law requiring foreign buyers of Latvian farmland to be able to speak Latvian.
A leading US expert in the field of anti-money laundering law enforcement shared his experiences May 17 in Riga.
Eleven sorts of Latvia-made jam will be sold at an as yet unnamed UK supermarket chain, reported LTV on May 17.
In the first quarter of this year, Latvia showed the fourth steepest economic growth among EU member states, according to flash estimate from Eurostat.
Amber Beverage Group, part of SPI global group, has entered the UK’s drink market by acquiring a "strategic stake" in Cellar Trends, the leading UK wine and spirits distributor.
A total 20 cases over price fixing have been started in the last five years, encompassing 90 companies and worth €134m, said Competition Council head Skaidrīte Ābrama in an interview with LTV on May 16.
Internal scheduled flights return to Latvia May 16 are a lengthy absence with the opening of a new service from capital city Riga to third-largest city Liepaja operated by airBaltic.
The total tax debt of the 52,909 tax dodgers included in the State Revenue Service’s list exceeds €1.202 billion, reported LETA on May 15.
The number of visitors hosted at Latvian tourist accommodation establishments went up by almost 9% in the 1st quarter of 2017, according to the latest data of the Central Statistical Bureau (CSB) released May 15.
The unemployment rate in Latvia fell by 0.5 percentage points from the previous month to 7.8 percent in April, according to latest State Employment Agency data - the lowest unemployment level in Latvia since 2009.
The innovative 'Reputation Time' conference returns to Riga May 12 with an impressive list of speakers discussing the topic of 'Reputation Challenges in the Post-Truth World'.
Latvia’s fast economic growth notwithstanding, its budget deficit will grow siginficantly, from 0.8% of GDP this year to 1.8% in 2018 due to the projected tax reform, Valdis Dombrovskis (Unity), the European Commission’s Vice President for the Euro and Social Dialogue, said in Brussels.
Despite some advances in shrinking the size of Latvia's unofficial or 'shadow' economy, it remains equivalent to more than 20% of Gross Domestic Product, an annual report on the subject concluded May 10.
The government on May 9 supported the Finance Ministry's tax reform plan for 2018-2021, but did not produce a verdict over several yet-unresolved problems, including healthcare financing.
Last year Norway's Government Pension Fund invested Norwegian sovereign wealth in Latvia for the first time. A total $1.4 million was invested into pharma company Olainfarm, the fiber glass company Valmieras stikla šķiedra (Valmiera Glass), and HansaMatrix, a high-tech manufacturer, reported Rus.lsm.lv on May 9.
The former head of the European Union's diplomatic service has started work on the supervisory board of Latvia's Citadele bank.
Fewer Latvian residents than in previous years are seriously considering going abroad for work in future, according to a public opinion poll carried out by SKDS pollster and reported by the LETA newswire.
The government and social partners agreed today to work out a timetable by June 1 that would provide for raising health care funding to 4% of GDP by 2020.
Latvia's GDP grew 3.9% on year in the first quarter of 2017, according to a flash estimate by the Central Statistics Office.
There was bad news for workers and suppliers to the Prisma supermarket chain May 3 with the announcement that the Finnish-owned retailer is leaving the Latvian and Lithuanian markets.
Latvian airline airBaltic has launched two new routes, one to Aberdeen in SCotland, the other to Stavanger in Norway.
Valmiera, a city in Latvia's northeast, can't keep up with the pace of its own growth and experiences problems tied to lack of employees, housing and business infrastructure, reports LTV's De Facto prior to the 2017 municipal elections.