Good for Business

International Internet Magazine. Baltic States news & analytics Saturday, 28.05.2016, 10:57

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Riga records 15% increase in overnight stays at its tourist facilities in Q1

Riga records 15% increase in overnight stays at its tourist facilities in Q1

27.05.2016

The number of nights visitors spent at Riga's hotels and other tourist facilities in the first quarter of 2016 rose by 15% against the same period a year ago to 416,956 nights, the Riga Tourism Development Bureau's representative Anna Blaua told LETA.

Keyword tags: Baltic States – CIS, EU – Baltic States, Good for Business, Latvia, Tourism



Installation of Vapor Recovery Unit cumbersome in Ventspils for EUR 5 mln

Installation of Vapor Recovery Unit cumbersome in Ventspils for EUR 5 mln

27.05.2016

Ventspils nafta terminals (VNT), one of the largest taxpayers in Ventspils and the largest contributor to the cargo turnover in the Ventspils Freeport, is in the process of investing EUR 5 million into the installation of a permanent vapour recovery unit (VRU) in the port of Ventspils.

Latvijas Kugnieciba makes EUR 3.67 mln profit in Q1

Latvijas Kugnieciba makes EUR 3.67 mln profit in Q1

27.05.2016

Latvijas Kugnieciba (Latvian Shipping Company) and its subsidiaries generated EUR 22.48 million in turnover in the first quarter of 2016, up 19.2% year-on-year, while its profit expanded 81.5% to EUR 3.986 million, informs LETA, according to the financial statements submitted to the Nasdaq Riga stock exchange.


Vilniaus Prekyba’s revenue grew to EUR 3.17 bln in 2015

Vilniaus Prekyba’s revenue grew to EUR 3.17 bln in 2015

27.05.2016

Vilniaus Prekyba, the owner of Lithuania's grocery chain Maxima, the drugstore chain Eurovaistine and the DIY-chain Ermitazas, posted 3.17 billion euros in consolidated revenue, not including VAT, for 2015, up 3.7% from 3.06 billion euros in 2015, informs LETA/BNS.

Scrapping of geoblocking will open up e-commerce for Estonians

Scrapping of geoblocking will open up e-commerce for Estonians

27.05.2016

Estonia's Minister of Economic Affairs and Infrastructure Kristen Michal supports the proposal of the Commissioner responsible for the EU digital single market, Andrus Ansip, to do away with geoblocking in the union, since it would ensure access for Estonians to e-commerce all over the European Union, informs LETA/BNS.

26.05.2016

New innovation deals in EU to boost circular economy

Innovation Deals, a new pilot scheme launched by the European Commission on May 26th, aim to help innovators with promising solutions to environmental issues to navigate regulatory challenges to bringing their ideas to market.

26.05.2016

Olainfarm to boost sales of its Tonus Elast company by 23%

Latvian pharmaceutical company Olainfarm plans that sales of Tonus Elast, the producer of elastic medical appliances Olainfarm has just acquired, will grow by 23% to EUR 9 million, Olainfarm board member Salvis Lapins reported LETA.

26.05.2016

Nortal introduced Estonian e-government to North Rhine-Westphalia parliament delegation

A total of 64 members of the Christian Democratic Union faction of the North Rhine-Westphalia state parliament visited software and business consultancy firm Nortal in Tallinn on 20th May with the aim to learn more about Estonia’s e-government solutions.

26.05.2016

Conference tourists brought EUR almost 40 mln to Estonia in 2015

More than 35,000 foreigners attended the 550 or so international conferences that took place in Estonia in 2015 and the conference visitors left an estimated 40 million euros here, the conference tourism industry association informed LETA/BNS.

25.05.2016

Uber opens engineering center in Vilnius

Uber, a US-based international ride-sharing network that launched operations in Lithuania last fall, opened an engineering center and a ride-sharing services support unit in Vilnius on May 25th. The sum invested in the center is withheld, reports LETA/BNS.

25.05.2016

Finland's Outokumpu set to open business services center in Vilnius

Finland's stainless steel giant Outokumpu is set to open a multifunctional business services center in Vilnius, Invest Lithuania said on May 25th, cites LETA/BNS.

25.05.2016

Latvia, Cyprus sign convention for avoidance of double taxation

Latvian Finance Minister Dana Reizniece-Ozola (Greens/Farmers) and the Finance Minister of Cyprus, Charis Georgiades, in Brussels signed the Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income, the Latvian Finance Ministry said LETA.

25.05.2016

Tartu-based company developing game platform for sick children

The Tartu-based company Frozen Kingdom OU is developing a game platform for children suffering from chronic illnesses and those being treated in a hospital, informs LETA.

25.05.2016

Riga pharmaceutical plant plans 10% growth of sales in 2016

Latvian pharmaceutical company Rigas Farmaceitiska Fabrika (Riga pharmaceutical plant, Rigas FF) plans to increase its 2016 turnover by 10% by focusing on exports, informs LETA, according to the company’s management report for 2015.

24.05.2016

The number of foreign visitors in Latvia keeps increasing in Q1

According to the data of the Central Statistical Bureau (CSB) in the 1st quarter of 2016 more than 366.0 thsd visitors stayed in Latvian accommodation establishments, which is 1.6% more than in the corresponding period of the previous year. As compared to the 1st quarter of 2015, the number of foreign visitors grew by 2.5%, and the number of nights spent increased by 7.6%.

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