International Internet Magazine. Baltic States news & analytics
Monday, 27.06.2016, 06:59
Cujo, which was featured as one of the hottest up-and-coming startups at the TechCrunch Disrupt conference 2016, is setting up operations in Lithuania. The US-based startup will establish its Lithuania division by the end of the year, where top IT professionals will work on developing, testing and improving Cujo’s smart home internet security technology, reported BC press officer at Invest Lithuania Egidijus Jurgelionis.
Keyword tags: Good for Business, Investments, Lithuania, Technology, USA
Lithuania's phosphate fertilizer manufacturer Lifosa, which is owned by Russia's chemical industry concern EuroChem Group, plans to invest approximately 75 million euros in the production of phosphoric acid, the Verslo Zinios business daily reports on June 22nd cites LETA/BNS.
The harbor that opened in the sea resort of Vosu on Estonia's North Coast in 2015 has seen a successful first year so far, with 56 of the marina's 45 boat slips booked and 26 being actively used, the regional newspaper Virumaa Teataja said, cites LETA/BNS.
Estonian manufacturer of module homes Harmet OU saw its revenue increase 42.1% year over year to 54.4 million euros in 2015, mainly as a result of a substantial increase in the share of the Swedish market, informs LETA/BNS.
Spanish low-costs carrier Vueling is due to launch flights between Riga and Barcelona this Saturday, June 25, reported BC Sarmite Rinmane, a spokeswoman for Riga International Airport.
AS Noo Lihatoostus, a meat processing company based in the small town of Noo not far from the city of Tartu, has started to build an annex to its production building for five million euros and is set to invest 15 million euros more in new facilities and equipment by 2020, writes LETA/BNS.
The coffee seller Paulig Coffee Estonia AS increased its revenue by 7% year on year to 35.3 million euros in 2015, while the net profit surged 35.5% to 4.5 million euros, informs LETA/BNS.
A total of 1.743 million passengers went through Lithuania's airports during the first five months of 2016, a rise of 14.7% on the same time last year, preliminary data from Statistics Lithuania showed on June 21st, cites LETA/BNS.
Lietuvos Gelezinkeliai (Lithuanian Railways) handled a total of 19.46 million tons of freight during the first five months of the year 2016, up 2.8% year-on-year, preliminary data from Statistics Lithuania showed on June 21st, cites LETA/BNS.
On June 21st, the rail sector and its customers, represented by CER, CLECAT, EIM, ERFA, ERTMS Users Group, ESC, UIP, UIRR, and UNIFE, and supported by the Rail Freight Corridors, presented a declaration at the TEN-T Days in Rotterdam, committing themselves to the aim of enhancing the competitiveness of the Rail Freight Corridors for the benefit of all customers, and to improving the quality, reliability and efficiency of transporting goods by rail across Europe, informed BC CER Head of Communications Eva Böckle.
All passengers of Tallink and Silja Line vessels sailing to and departing from Stockholm to Helsinki, Turku and Tallinn will from now walk through the new terminal building of Vartahamnen, opened tomorrow on 21st of June. Although the construction in the harbour area and terminal will continue also now, the opening of the terminal will significantly improve the travel comfort by decreasing the distances between the ships and terminal, informed BC Tallink’s press service.
The Supervisory Board of the Environmental Investment Centre (KIK) has chosen to support 365 environmental projects in Estonia with a total of 27,813,403 euros, reports news.err.ee.
Estonian state-owned energy company Eesti Energia is to invest 200-300 million euros in five years to increase the efficiency of the company's existing assets and the value of the final product, and in the course of the process the company is planning to reach earnings before interest, taxes, depreciation and amortization (EBITDA) worth 300 million euros, informs LETA/BNS.
Wizz Air, the largest low-cost airline in Central and Eastern Europe, started operating its new Tel Aviv service from Riga. The long awaited route will operate all year round twice a week, allowing passengers to travel between Latvia and Israel on very low fares while enjoying excellent onboard service.
Axis Industries, a Lithuanian industrial and energy project group, in 2015 saw its consolidated net profit grow by 49.1% to 10.28 million euros, from 6.896 million euros in 2014, informs LETA/BNS.