International Internet Magazine. Baltic States news & analytics
Friday, 24.05.2013, 05:04
US Kinze opens its first international plant – in Lithuania
23.05.2013The US company Kinze Manufacturing, Inc. is opening its first production plant abroad in Lithuania, the company said in a statement. The facility will manufacture Kinze row crop planters, contributing to its growing market in neighboring countries including Russia, Ukraine, Czech Republic, Bulgaria and Hungary, informs LETA.
Keyword tags: EU – Baltic States, Good for Business, Investments, Lithuania, Markets and Companies, USA
Lithuanian PakMarkas becomes the only official center of Italian Motovario in Baltics
23.05.2013The Lithuanian packing and marking solutions provider PakMarkas, has become the only official center of the Italian company Motovario to assemble reducers in the Baltic States, PakMarkas said in a statement.
Construction company Merks posts LVL 1.27 mln in profit in 2012
23.05.2013Construction company Merks posted LVL 1.27 million in profit last year, according to Firmas.lv data. In 2011, Merks posted LVL 3.58 million in losses, writes LETA/Nozare.lv.
Klaipeda Port's cargo handling increased by 13.9% in Q1
23.05.2013The total throughput of Klaipeda Port and in Butinges terminal in the first quarter of 2013 totaled 11.8 million tones of seaborne cargo, the change of cargo handling turnover was plus 13.9% if to compare with the corresponding period of 2012, reported LETA Klaipeda Seaport.
Panevezio Statybos Trestas income increases in Q1
23.05.2013Referring to the unaudited data, the Lithuania-based group of construction companies Panevezio Statybos Trestas (PST) earned the income in amount of 64.2 million litas during the first three months of the current year, that was 1.43 times more than during the corresponding period last year, reported LETA the company.
In 2012, population went on overnight trips in Latvia more often
The results of the survey on the domestic trips of Latvian residents conducted by the Central Statistical Bureau show that the number of overnight recreational and other private trips in 2012 was 3.6 mln, which is 11.8% more than in 2011.
Kaunas Airport offers flights to Moscow for convenience of passengers from Russia
Russian airline Rusline will start operating from Kaunas Airport to Moscow's Domodedovo Airport and back starting from June 16, 2013; the airport's General Director at interim Jurate Baltrusaityte noted that it will give Russian travelers an opportunity to reach the Western European destinations in a more convenient and pocket-friendly way, writes LETA.
NIB lends LDz for upgrade of east-west railway corridor in Latvia
The Nordic Investment Bank (NIB) and Latvia's state railway company VAS Latvijas dzelzcels have signed a new loan totalling EUR 17 million for the upgrade of a railway section in the country's east-west transport corridor, informs Nordic Investment Bank.
Estonian Kevelt starts producing cancer medicine candidate
Virexxa, a medicine candidate developed in the Estonian Cancer Research Technology Development Centre, will be produced by Estonian company Kevelt, which is of symbolic importance for the Estonia bio-technology industry, LETA/Public Broadcasting reports.
Government grants LVL 7.25 mln tax break to LMT for development of 4G network
The government yesterday decided to grant a tax break of LVL 7.25 million to Latvijas Mobilais telefons (LMT) for the development of the 4G mobile telephony network in the less-populated areas of Latvia in which the company plans to invest LVL 29.01 million, informs LETA.
University of Tartu among the top 200 universities in 2 subjects
In the list of the world's best 200 universities in 30 subjects "QS World University Rankings by Subject 2013" that was published by the international consultation firm Quacquarelli Symonds (QS) in May, 2013, the University of Tartu is represented in two subjects for the first time, ranking between 51 and 100 in communication and media studies and between 151 and 200 in modern languages, informed LETA the University of Tartu.
"Riga 2014" foundation wins Melina Mercouri Award of EUR 1.5 mln
The European Commission's international jury has decided to award the Melina Mercouri Prize to the "Riga 2014" foundation that is organizing Riga's program of the Capital of Culture, according to the European Capitals of Culture monitoring report.
H&M to open retail point in Vilnius
The Swedish H&M fashion retailer will open a shop in the Gedimino 9 shopping center in Vilnius, Estonia's news site BBN, referring to news2biz reported on Tuesday, cites LETA.
Kalev boosts turnover and profit in 2012
Estonian confectionery company AS Kalev increased turnover, market share and profit in 2012, Äripäev.ee/LETA reports.
Cytec launched their Global Business Services GBS in Riga
Cytec Industries, a global specialty materials and chemicals company present in more than 40 countries, launched their Global Business Services (GBS) in Riga on May 14th. Since the establishment of their Shared Services Center in Riga in 2010, Cytec has made several enhancements to the operations conducted there, promoting a gradual change from an operational center to a dynamic office focused on process improvement and business excellence.
EU’s assessment of Latvian economic activity 
