All entries related to Latvia, newest first. tag:eurotrack.ai,2026:en:en/countries/latvia 2026-10-30T06:00:00Z Eurotrack tag:eurotrack.ai,2026:246b5e1c:en 2026-10-30T06:00:00Z

Estonia's largest agricultural group Agrone closed the purchase of 100% of Food Union Management on 30 October 2026. The holding controls majority stakes in Rīgas piena kombināts and Valmieras piens. The seller is Food Union Luxembourg Holdings II, both Estonian and Latvian competition authorities cleared the deal and SEB provided financing. The price was not disclosed, and operations and brands are initially unchanged (ERR News, 31 October 2026). — Source: https://news.err.ee/1610182228/estonian-raw-milk-producer-buys-latvia-s-largest-dairy-company

tag:eurotrack.ai,2026:68d65463:en 2026-10-27T06:00:00Z

Swedbank is laying off around 500 staff across the group; in Estonia and the other Baltic states the figure is about 100 of more than 6,000 employees there, according to Baltic head Olavi Lepp. The bank points to a reorganisation of work and normalised profitability after heavy development investment in earlier years, and offers retraining. Lepp does not rule out further cuts as AI is rolled out (ERR News, 27 Oct 2026). — Source: https://news.err.ee/1610178361/swedbank-lays-off-100-in-baltic-states-warns-ai-could-mean-more-cuts

tag:eurotrack.ai,2026:bda3b9b1:en 2026-10-22T06:00:00Z

Extra funds are to come only from streamlining existing spending; Kučinskis rules out cuts to health and education. He warns of sizeable fiscal holes in the following three years if reforms do not pay off; state institutions with overlapping functions are to be merged (LSM English, 22 Oct 2026). — Source: https://eng.lsm.lv/article/economy/economy/22.10.2026-no-new-taxes-no-new-spending-promises-latvian-finance-minister.a668736/

tag:eurotrack.ai,2026:978c7162:en 2026-10-06T06:00:00Z

Non-essential spending such as seminars, conferences, consultancy and new office equipment is also to be postponed; contracts of €50,000 or more excluding VAT can only be approved by the government leadership or an authorised official. Independent institutions, state companies, universities and municipalities are to be asked for similar restraint; the saving from the freeze is not quantified (LSM English, 6 Oct 2026). — Source: https://eng.lsm.lv/article/economy/economy/06.10.2026-latvian-finance-ministry-proposes-austerity-measures.a666374/

tag:eurotrack.ai,2026:871d15fd:en 2026-10-05T06:00:00Z

Latvian airline airBaltic notified Latvia's state employment agency of a collective redundancy on 05.10.2026; 500 to 700 of its roughly 3,000 staff at the Riga, Vilnius and Tallinn bases could be affected. The cuts follow a new business plan after the creditor protection proceedings opened in mid-September: the fleet is to shrink from 54 to about 36 aircraft by the end of 2026, talks with unions on shorter working hours for pilots and cabin crew are under way, and no individual decisions have been taken yet (aeroTELEGRAPH, 05.10.2026; second source: LSM, 05.10.2026). Update (25 Oct 2026): On 14 Sep 2026 airBaltic filed for Chapter 11 protection with the US Bankruptcy Court for the Southern District of New York, together with certain subsidiaries; flights continue as scheduled and tickets and bookings remain valid. The process is meant to provide a framework for negotiations with creditors such as aircraft lessors (AviTrader, 14 Sep 2026). Update (30 Oct 2026): airBaltic confirmed to LSM that it plans to cut about 300 flying-crew jobs, around 100 pilots (bases Riga, Vilnius, Tallinn) and 200 cabin crew (all in Riga); the figures may still change after staff assessments, reflecting changes to the 2027 timetable and route network, and the Latvian aviation union criticises the selection criteria (aeroTELEGRAPH, 30 Oct 2026). The 300 jobs are part of the range above, not additional. Update (30 October 2026): airBaltic will base only two instead of three A220-300s in Vilnius this winter, where 81 people work; how many jobs will go in Lithuania is open, and the company says it will be fewer than initially planned (LRT, 30 October 2026). — Sources: https://www.aerotelegraph.com/ticker/air-baltic-plant-abbau-von-bis-zu-700-stellen/xep72x4 · https://www.lsm.lv/raksts/zinas/ekonomika/05.10.2026-airbaltic-darbibas-sasaurinasana-varetu-skart-500-700-darbinieku-gatavojas-kolektivajai-atlaisanai.a666243/ · https://avitrader.com/2026/09/14/airbaltic-files-for-chapter-11/ · https://www.aerotelegraph.com/ticker/air-baltic-will-rund-100-pilotinnen-und-piloten-und-200-flugbegleitende-entlassen/87qp93l · https://www.lrt.lt/en/news-in-english/19/3098074/airbaltic-to-reduce-vilnius-based-fleet-to-two-aircraft-as-job-cuts-loom

tag:eurotrack.ai,2026:350712cb:en 2026-08-27T06:00:00Z

Estonian arms and ammunition maker Wolfram Europa is building a combat munitions plant on about 40 ha south of Jēkabpils; the exact site is not disclosed for security reasons. Investment is to rise from about €50m initially to up to €200m over three phases, creating around 200 jobs, with production due to start in the second half of 2027. The government has earmarked €4.8m as a capital grant, payable only if conditions such as €150m of exports in the first phase are met (LSM English, 27 Aug 2026). — Source: https://eng.lsm.lv/article/society/defence/27.08.2026-explosives-factory-being-built-near-jekabpils-latvia.a660549/

tag:eurotrack.ai,2026:41675b14:en 2026-08-13T06:00:00Z

The council accuses LVM of having created unjustified competitive advantages for six wood processors through long-term logging contracts: from 1 Jan 2020 to 28 Apr 2026 they received guaranteed access to a fixed volume of roundwood outside public auctions. The decision dates from 4 Aug 2026 and was announced on 13 Aug (LSM English, 13 Aug 2026). — Source: https://eng.lsm.lv/article/economy/business/13.08.2026-latvian-state-forestry-company-hit-with-big-fine-by-competition-watchdog.a658644/

tag:eurotrack.ai,2026:82929560:en 2026-08-12T06:00:00Z

Spanish consultant Alvarez & Marsal outlined three scenarios: continue as planned, which Latvia cannot afford, reduce requirements, or terminate. For the section from Misa to the Lithuanian border (33 km), different technical solutions could save about 25% or €108m; up to 13.2 km of noise barriers could be dropped. The transport ministry was to submit proposals by 15 Sep 2026, and the total project cost is now estimated at €24bn or more (LSM English, 12 Aug 2026). — Source: https://eng.lsm.lv/article/economy/transport/12.08.2026-stick-twist-or-fold-latvia-seeks-rail-baltica-savings.a658595/

tag:eurotrack.ai,2026:b0b5bcc9:en 2026-07-31T06:00:00Z

On 31 July 2026, Prime Minister Andris Kulbergs announced at a meeting of the coordination council for large and strategically important investment projects that plywood maker Latvijas Finieris plans a new €300 m wood-processing plant in Latgale, Latvia's structurally weakest region; no specific site was named. The project forms part of the company's wider programme of more than €400 m, communicated in June 2026, with which it aims to lift turnover from €414 m to at least €500 m within three to four years; the separate €100 m expansion of its Rēzekne plant (90 new jobs), announced back in April 2026, is unaffected. Reported on the basis of the prime minister's account — the company has not published a timetable or employment figures; Kulbergs also pointed to the logistical hurdle of Latgale's long distance from the ports. — Source: https://www.lsm.lv/raksts/zinas/ekonomika/31.07.2026-premjers-latvijas-finieris-plano-ieguldit-latgale-300-miljonus-eiro-kokrupniecibas-rupnica.a657082/

tag:eurotrack.ai,2026:3e218c88:en 2026-07-27T06:00:00Z

DHL Group is buying the parcel group Venipak from its founder Nerijus Raudonis; it operates in Lithuania, Latvia and Estonia (and, according to the source, Poland) and is to be integrated into DHL eCommerce. Venipak has about 1,000 employees and 350 independent couriers, about 800 parcel lockers and collection points and 25 logistics terminals; no changes to management or staff are planned. The price is not disclosed and closing is subject to regulatory approvals (LSM English, 28 Jul 2026). — Source: https://eng.lsm.lv/article/economy/business/28.07.2026-german-dhl-to-buy-venipak-in-baltics.a656552/

tag:eurotrack.ai,2026:7cc76398:en 2026-07-24T06:00:00Z

On 24 July 2026 Economics Minister Viktors Valainis signed a memorandum of understanding with US company Native Trading on building a full-cycle artillery rocket factory in Latvia: solid propellant production, warhead filling, final assembly and qualification testing at a single site. The project volume is put at €70–90m; the location is still being evaluated. The memorandum gives no concrete figure for new jobs, referring only to highly qualified employment. This is a declaration of intent, not a binding investment decision. The project is separate from the already recorded artillery ammunition joint venture between Rheinmetall and Latvia's State Defence Corporation. — Source: https://lat.bb.lv/raksts/musu-latvija/2026/07/24/parakstits-saprasanas-memorands-par-pilna-cikla-artilerijas-rakesu-razotnes-attistibu-latvija-107363

tag:eurotrack.ai,2026:a35419f1:en 2026-07-20T06:00:00Z

On 20 July 2026 Hungary's OTP Bank signed an agreement to acquire 100% of Luminor Holding from a consortium of Blackstone-managed private equity funds (majority) and DNB Bank. Luminor is the third-largest financial services provider in the Baltics (Latvia's fourth-largest bank by total assets); for 2025 it reported net profit of €158m, a return on equity of 8.6% and a CET1 ratio of 20.2%. The purchase price was not disclosed. Completion is subject to regulatory approvals (Estonian financial supervisor, ECB, Latvian central bank). Second source: BNN. — Source: https://www.baltictimes.com/otp_bank_to_acquire_luminor__opening_a_new_chapter_in_baltic_financial_markets/

tag:eurotrack.ai,2026:f5b2518b:en 2026-07-14T06:00:00Z

Latvia's state forest company Latvijas valsts meži bought about 5,800 hectares of land (4,800 hectares forested) in Ludza district from Swedish owners — the largest land purchase in its history. The deal was structured as the acquisition of two Latvia-registered companies; the government approved it on 30 June 2026. — Source: https://www.kinnisvarauudised.ee/uudised/2026/07/13/lati-riigimetsa-ettevote-ostis-rootslastelt-26-miljoni-euro-eest-metsamaad

tag:eurotrack.ai,2026:bfd07295:en 2026-07-07T06:00:00Z

On 1 July 2026 Russia closed most border crossings to Finland, Estonia and Latvia, but freight trains are exempt. Finland has nevertheless decided to end rail imports at the end of July because Russia raised customs duties on goods shipped to Finland eightfold; Finland itself had closed its border with Russia and ended passenger trains in December 2023. Most affected are block trains with ammonia for fertiliser production (not covered by EU sanctions for food-security reasons) that run via the Vainikkala border station and largely go on to Africa through the port of Kotka, plus the freight operator North Rail (Nurminen Logistics) with nine Dr20 diesel locomotives, which specialises in hauling these trains: it has announced redundancies and its survival is at risk. The date is the day of the report; the article does not name the day of the decision. (LOK Report, 7 Jul 2026) — Source: https://www.lok-report.de/news/europa/finnland/finnland-das-ende-der-russischen-exportzuege-nach-finnland.html

tag:eurotrack.ai,2026:df744de1:en 2026-07-07T06:00:00Z

The freight subsidiary of Latvia's state railway will start a collective dismissal of 300 of its most recent 1,037 employees on 1 August, around 150 of them in Daugavpils. Reasons: the geopolitical situation, sanctions on Russia/Belarus, shrinking freight volumes (Q1: -18%) and higher Russian rail tariffs. — Source: https://nra.lv/ekonomika/latvija/525119-ldz-cargo-plano-atlaist-300-darbiniekus.htm

tag:eurotrack.ai,2026:c1efd199:en 2026-07-07T06:00:00Z

International BPO provider Concentrix (in Daugavpils since 2021, formerly Webhelp) will fully cease operations at the site by 1 October 2026; over 100 employees (recently averaging 350–400) lose their jobs, mainly in customer service and content moderation. Together with the LDz Cargo cuts, Daugavpils loses nearly 300 jobs at short notice (unemployment in Latgale: 9.4%). — Source: https://nra.lv/latvija/regionos/525121-concentrix-skaidro-kapec-atlaidis-cilvekus-daugavpili.htm

tag:eurotrack.ai,2026:485107d7:en 2026-06-18T06:00:00Z

Danish developer European Energy opened the Tārgale solar park on 18 Jun 2026, its first completed project in Latvia: 148 MWp installed at a 110 MW grid connection, investment €80m, about 154,550 MWh of electricity a year, enough for roughly 60,000 households. The Danish pension fund Sampension holds 50% (LSM English, 18 Jun 2026). — Source: https://eng.lsm.lv/article/economy/economy/18.06.2026-solar-energy-park-opens-in-targale-ventspils.a652032/

tag:eurotrack.ai,2026:c3b826b2:en 2026-06-01T06:00:00Z

On 1 June 2026, Rīgas Satiksme extended tram routes 7 and 14 along a new 2.2 km section of track on Latgales Street to the new "Ķengarags" mobility hub at the Latgales/Višķu iela junction — Riga's first new tram track construction in about 40 years. Trolleybus route 15 and bus route 49 were extended to the same interchange, with new stops at "Rasas iela," "Ikšķiles iela," and "Ķengarags Mobility Hub." The EUR 28.4 million project (including a new dispatcher building) was funded through the EU Recovery and Resilience Facility's climate component. — Sources: https://en.wikipedia.org/wiki/R%C4%ABgas_Satiksme · https://eng.lsm.lv/article/economy/transport/01.06.2026-tram-line-7-extended-in-riga.a649625/

tag:eurotrack.ai,2026:7f8bdb89:en 2026-02-19T06:00:00Z

Planned or announced energy project to strengthen electricity exchange and security of supply between Germany, Latvia and Lithuania. In the context of the completed synchronisation of the Baltic power grids with the Continental European ENTSO-E network (completed February 2025, decoupling from the Russian-Belarusian BRELL grid), new investments in transmission and interconnector lines are now under debate. Details on scope, investment volume and timeline according to the Golem article. — Source: https://www.golem.de/news/energie-stromprojekt-zwischen-deutschland-lettland-und-litauen-2602-205625.html

tag:eurotrack.ai,2026:1b7647e4:en 2025-11-11T06:00:00Z

On 11 November 2025 the Latvian cabinet approved the preliminary plan for rail infrastructure in 2025–2029; the EUR 784 million comes from EU funds, the recovery fund, the Connecting Europe Facility, the Social Climate Fund and money from Latvijas dzelzceļš (LDz). Because 80% of network use is passenger traffic and only 20% freight, funds go first to heavily used passenger lines: by 2029, 70% of passenger infrastructure is to be modernised and 330 km of overhead line (64%) renewed or newly built, with the remaining 188 km following by 2034. The plan also provides for 140 km/h on electrified lines, the first phase of Rail Baltica and dry ports for moving freight from road to rail; it assumes about 30 million passengers in 2034, and a multi-year contract between the transport ministry and LDz is to govern funding. (LOK Report, 17 Nov 2025) — Source: https://www.lok-report.de/news/europa/lettland/63139-lettland-umorientierung-der-eisenbahninfrastruktur-vom-gueter-zum-personenverkehr.html

tag:eurotrack.ai,2026:2ce7224b:en 2025-10-03T06:00:00Z

On 3 October 2025 the Latvian commercial register decided on the restructuring of three subsidiaries of state railway Latvijas dzelzceļš (LDz): LDz Rolling Stock Service and LDz Loģistika are merged into the freight company LDZ CARGO, which now offers repair, modernisation and maintenance of rolling stock alongside freight transport. The process, begun in spring 2025, is meant to simplify the group structure and cut costs; LDz chief Artis Grinbergs cites the fall in freight volumes and geopolitical changes in the market as the background. Staff move to LDZ CARGO and its management and supervisory boards stay unchanged; the report gives no price or savings figure. (LOK Report, 7 Oct 2025) — Source: https://www.lok-report.de/news/europa/lettland/61962-lettland-das-handelsregister-hat-einen-beschluss-ueber-die-umstrukturierung-der-tochtergesellschaften-von-ldz-gefasst.html

tag:eurotrack.ai,2026:3e076c4e:en 2025-09-26T06:00:00Z

Joint venture (51% Rheinmetall, 49% Latvian State Defence Corporation) for an artillery ammunition plant in Latvia. Construction start spring 2026, production start around spring 2027 with tens of thousands of 155 mm shells per year. — Source: https://www.fw-mag.com/shownews/716/rheinmetall-strengthens-european-defence-base-with-euro-275-million-latvian-ammunition-facility

tag:eurotrack.ai,2026:63b51ce3:en 2025-05-01T06:00:00Z

Since 1 May 2025, Rīgas Satiksme has operated the new tram line 14 between Iļģuciems and Ķengarags, served by low-floor trams (Škoda 15T type), giving a direct connection from Ķengarags to Pārdaugava without changing trams. The former line 2 was extended to Mīlgrāvis and renamed line 8; on weekends an additional shortened line 8a runs between Stacijas laukums and Tapešu iela. The reorganisation is part of a broader network reform to make better use of the low-floor fleet, linked among other things to track works on Slokas iela; no specific investment figure is stated in the sources. — Source: https://lvportals.lv/dienaskartiba/375168-no-1-maija-izmainas-tramvaju-marsrutu-tikla-jauns-14-marsruts-2-marsrutu-pagarinas-lidz-milgravim-un-pardeves-par-8-tramvaju-2025