The Baltic Course | Baltic States news & analytics The Baltic Course - International Internet Magazine. Baltic States News & Analysis, Baltic market reviews eng Wed, 26 Apr 2017 22:36:49 +0300 Baltic Course, The Invitation to companies to bid for the provision of consultancy services for Hong Kong Economic and Trade Office in London Fri, 19 May 2017 17:00:00 +0300 1495202400 The new German platform specialises in attracting professionals and skilled workers from around the world Hamburg – With its Internet platform, available in German and English, Hamburg start-up Employland is offering a new way to find work in Germany. For the first time, recruitment and legal services are being offered from a single source to make it significantly easier to take up work in Germany: For regulated professions, such as geriatric nurses, teachers and engineers, Employland helps job-seekers with the recognition of their qualifications, and for non-EU citizens also with residence permits, Sabine Drechsel Presse & PR Employland representative informed BC. Wed, 26 Apr 2017 17:35:00 +0300 1493217300 Nordic countries and Baltic states to cooperate in development of 5G networks The Nordic countries and the Baltic states will start cooperating in development of 5G networks, carrying out joint research and tests, the Latvian Ministry of Environment and Regional Development said LETA. Wed, 26 Apr 2017 17:00:00 +0300 1493215200 Management Board of RB Rail AS Appointed On April 24, 2017, the Supervisory Board of “RB Rail AS” appointed three new board members to the Management Board of the joint venture: Kaspars Rokens, Ignas Degutis and Deniss Muraško, RB Rail As informed BC. Wed, 26 Apr 2017 16:50:00 +0300 1493214600 Now is good time for EBRD to withdraw from Lithuania's Siauliu Bankas Now is a good time for the European Bank for Reconstruction and Development (EBRD) to withdraw from the management of Lithuania's Siauliu Bankas, LETA/BNS said according to the Verslo Zinios business daily. Wed, 26 Apr 2017 15:20:00 +0300 1493209200 Tax reform in Latvia Since the beginning of the year, political debates have been mainly focusing on reforming the tax system. Wed, 26 Apr 2017 15:10:00 +0300 1493208600 Estonia ranks 12th in Reporters Without Borders press freedom index Estonia is in 12th place among 180 countries in the 2017 Word Press Freedom Index published by Reporters Without Border (RSF). Wed, 26 Apr 2017 14:45:00 +0300 1493207100 Lithuania has the highest proportion of residents with completed higher education in EU Lithuania has the highest proportion of residents between the ages of 30 to 34 with completed higher education in the EU - 58.7%, according to Eurostat. Wed, 26 Apr 2017 14:45:00 +0300 1493207100 Cross-border trade in natgas between Baltics to become simpler The Baltic gas transmission system operators AB Amber Grid, Connexus Baltic Grid AS and Elering AS signed agreements on Tuesday whereby the allocation of cross-border interconnection capacity will take place simultaneously with the transactions for the purchase and sale of natural gas. reprots LETA. Wed, 26 Apr 2017 14:40:00 +0300 1493206800 airBaltic recognized as third most punctual airline in the world The Latvian airline airBaltic has been recognized as one of the most punctual airlines in the world and has received five stars in the OTP Star Ratings system by OAG, the airline informed BC. Wed, 26 Apr 2017 13:30:00 +0300 1493202600 LSC Shipmanagement adds to the fleet its biggest tanker – Elandra Eagle On Wednesday, April 19, in South Korea, the JSC Latvian Shipping Company subsidiary LSC Shipmanagement Ltd (LSCSM) supplemented the fleet under its full technical management with a newbuilding “Elandra Eagle”. The new tanker is intended for transportation of oil. Her total length is 277 meters and deadweight – 157,000 tons, the LSCM representative informed. Wed, 26 Apr 2017 11:30:00 +0300 1493195400 Lithuania's Litgrid to pay EUR 18.2 mln in dividend Lithuania's power transmission system operator Litgrid has earmarked 18.156 mln euros for dividend or 3.6 cents per share after netting 16.828 mln euros in profit last year. Tue, 25 Apr 2017 18:10:00 +0300 1493133000 Latvia signs declaration about Nordic-Baltic region as a digital frontrunner Edmunds Belskis, the deputy state secretary for information and communication technology at the Latvian Ministry of Environment and Regional Development, today signed a declaration "The Nordic-Baltic region: a digital frontrunner", the ministry said LETA. Tue, 25 Apr 2017 17:40:00 +0300 1493131200 Estonian transit businesses ready to search for solutions in collaboration with govt The Estonian governmental transit commission that met after a more than seven-year break on Tuesday discussed raising the competitiveness of Estonian ports and plans for using global trade routes in the future, with representatives of businesses expressing their readiness to search for joint solutions with the Ministry of Economic Affairs and Communications, reports LETA/BNS. Tue, 25 Apr 2017 17:20:00 +0300 1493130000 Latvian families plan their budgets in short term In Latvia, families tend to plan their budgets in short term, Evija Kropa, an expert at the Swedbank Institute for Finances, told LETA, citing a survey conducted by the institute. Tue, 25 Apr 2017 16:10:00 +0300 1493125800 Rigas Kugu Buvetava shipyard posts EUR 169,000 in audited 2016 profit; auditor corrects result Rigas Kugu Buvetava shipyard closed 2016 with EUR 20.758 million in audited turnover, which was a 2.1 percent drop from 2015, while the company’s profit contracted 23.6 percent year-on-year to EUR 169,807, according to the company’s report to Nasdaq Riga. Tue, 25 Apr 2017 16:00:00 +0300 1493125200 Share of alcohol bought by Estonian residents in Latvia hits 10% Alcoholic beverages bought in Latvia now account for 10 percent of the total amount of alcohol bought by Estonian residents, up from 6 percent in August 2016, it appears from a poll taken by Kantar Emor in March writes LETA/BNS. Tue, 25 Apr 2017 16:00:00 +0300 1493125200 Spring Auction at Rietumu Bank Will Be held Shortly The biggest auction of art objects and antiquities in Latvia , which is held every spring by the Artembassy auction house in cooperation with Rietumu Bank, will be held on 29 th of April. Tue, 25 Apr 2017 15:00:00 +0300 1493121600 Vilnius-based European Humanities University fails to find new rector The Vilnius-based European Humanities University (EHU), whose students are mostly from Belarus, has completed its search for a new rector after without signing a contract with a finalist, reports LETA/BNS. Tue, 25 Apr 2017 14:45:00 +0300 1493120700 More than 200 companies from 18 countries attending “Industry Suppliers' Day” of “Rail Baltica Global Forum 2017” Today, April 25, more than 200 potential suppliers of the Rail Baltica project from 18 countries meet in Riga to attend “Industry Suppliers' Day” – an international event that is part of RB Rail AS organized “Rail Baltica Global Forum 2017” devoted to the project's implementation. Tue, 25 Apr 2017 14:40:00 +0300 1493120400 Lithuania's Eurocash1 set to buy Citedele's cash logistics firm in Latvia Eurocash1, a cash collection and security services group that is indirectly controlled by Vilniaus Prekyba's owners, is expanding its operations in Latvia through the acquisition of CBL Cash Logistics, a subsidiary of Citadele Bank, in a deal whose financial details are not being disclosed, writes LETA/BNS. Tue, 25 Apr 2017 14:30:00 +0300 1493119800 Producer prices in Latvian industry increased by 0.1% According to data of the Central Statistical Bureau (CSB), compared to February, in March 2017 the average level of producer prices in Latvian industry grew by 0.1%. The prices of products sold on the domestic market dropped by 0.1 %, whereas the prices of exported products increased by 0.3 %. The prices of products exported to euro area countries grew by 0.2% and of products exported to non-euro area countries – by 0.4%. Tue, 25 Apr 2017 14:10:00 +0300 1493118600 Average milk purchase price in Latvia drops 1.7% in March In March 2017, the average milk purchase price in Latvia dropped by 1.7 percent from February, according to preliminary figures released by the Latvian Central Dairy Association writes LETA. Tue, 25 Apr 2017 13:30:00 +0300 1493116200 Border guards to investigate possible Lithuania-Belarus border violation Lithuanian border guards said on Tuesday that they have launched a pre-trial investigation after a light aircraft piloted by a Danish national last week crossed the country's border with Belarus, reports LETA/BNS. Tue, 25 Apr 2017 13:00:00 +0300 1493114400 Swedbank Lithuania lifts Q1 net profit 33% Swedbank, one of Lithuania's largest banks, said on Tuesday that its first-quarter net profit jumped by 33% to 29 mln euros, from 22 mln euros a year earlier, writes LETA/BNS. Tue, 25 Apr 2017 12:40:00 +0300 1493113200 Lattelecom earnings - 44.6 mln euros in Q1 2017 Lattelecom group earnings for the first quarter of 2017 totaled 44.6 mln euros, while EBITDA reached 16 mln euros. Lattelecom has gown a new business and with tet services it is entering a new sector, the Lattelecom representative told BC, Tue, 25 Apr 2017 11:30:00 +0300 1493109000 Nord Stream 2 AG and European energy companies sign financing agreements The Nord Stream 2 project, being pursued by Gazprom, has taken today another important step towards its implementation, responding to the need of the European Union for additional gas imports and thereby improving security of supplies to Europe. Mon, 24 Apr 2017 20:00:00 +0300 1493053200 Organic products’ check through a new EU digital system A new system of electronic certification is being introduced in EU to monitor imports of organic products. The digital system makes the European Union a global leader in traceability and in the collection of reliable data on trade of organic products. Mon, 24 Apr 2017 19:50:00 +0300 1493052600 Latvia so far has granted asylum to almost 200 relocated persons Latvia so far has granted asylum to almost 200 relocated foreigners, the Citizenship and Migration Affairs Board reported LETA. Mon, 24 Apr 2017 17:00:00 +0300 1493042400 Lithuania's Grigeo Grigiskes boosts Q1 revenue by 16% Lithuania's hardboard and hygiene paper production group Grigeo Grigiskes posted revenue of 30.2 mln euros in the first quarter of this year, up by 16%, from 26 mln euros, in January-March of 2016, writes LETA. Mon, 24 Apr 2017 17:00:00 +0300 1493042400 SmartLynx Airlines plans expansion to Asia and North America Latvia’s SmartLynx Airlines plans to expand its operations to Asia and North America, including Canada, LETA was told at the company. Mon, 24 Apr 2017 16:50:00 +0300 1493041800 Level of agricultural product prices in Latvia dropped by 0.9% The data compiled by the Central Statistical Bureau (CSB) show that in 2016, the total price index of agricultural output * fell by 0.9%, which was mainly due to the 1.5% decline in prices of crop products. The price index of livestock products reduced slightly – by 0.4%. Mon, 24 Apr 2017 16:00:00 +0300 1493038800 Shares of Latvia's RER electric equipment maker acquired by Cyprus-registered company Russia's Baltijskij Bank has lost a significant stake in Rigas Elektromasinbuves Rupnica (RER) which makes electric equipment for trains, according to the company's statement to Nasdaq Riga stock exchange. Mon, 24 Apr 2017 15:50:00 +0300 1493038200 Eurozone's smallest government sector debt in 2016 recorded in Estonia In 2016 the smallest government sector debt in the euro area was recorded in Estonia, where it totaled 9.5% of GDP, Eurostat reports. Mon, 24 Apr 2017 15:50:00 +0300 1493038200 Title of EU/EEA leader by new HIV cases passes to Latvia Based on the 2016 statistics published by the competent authorities of the Baltic states responsible for epidemiological oversight, Latvia has moved ahead of Estonia by the number of new HIV cases registered annually, claiming the title of the EU/EEA "leader" in 2016, the Baltic HIV Association said LETA. Mon, 24 Apr 2017 15:40:00 +0300 1493037600 Vilnius plans to take Veolia to Stockholm arbitration court Vilnius' local authority and the municipal heating grid operator Vilniaus Silumos Tinklai (Vilnius Heating Grid, or VST) are planning to go to the Stockholm arbitration court after Veolia and Vilniaus Energija (Vilnius Energy), the French group's local subsidiary whose 15-year lease on the Lithuanian capital's heating system has recently ended, rejected the city's claim, worth around 200 million euros, for damages caused to the assets during the lease period, writes LETA/BNS. Mon, 24 Apr 2017 15:40:00 +0300 1493037600 In March 2017 industrial production prices in Lithuania decreased by 3.1% Statistics Lithuania informs that in March 2017 industrial production totalled EUR 1.69 bln at current prices and, compared to February, based on provisional data, decreased by 3.1% at constant prices (seasonally and calendar unadjusted – grew by 4.7%). Mon, 24 Apr 2017 15:00:00 +0300 1493035200 Rail Baltica is Financially and Economically Viable The Rail Baltica Global Cost-Benefit Analysis (CBA) presented on April 24 during Rail Baltica Global Forum 2017 confirms that the Rail Baltica project is financially and economically viable. The new study reaffirms the project’s economic feasibility and highly beneficial nature, providing the necessary updated parameters for the project’s continued EU and national co-financing, Rail Baltica Global Forum representatives informed BC. Mon, 24 Apr 2017 14:10:00 +0300 1493032200 Rail Baltica Global Forum 2017, a two-day international event devoted to the Rail Baltica project takes place in Riga Today marks the beginning of the international two-day event Rail Baltica Global Forum 2017 – Building a New Economic Corridor organized by RB Rail AS, a joint venture by the three Baltic States, with the support of the project’s national implementing bodies – Rail Baltic Estonia, Eiropas Dzelzceļa līnijas and Rail Baltica statyba. A live video stream will be accessible both Forum days on Mon, 24 Apr 2017 11:50:00 +0300 1493023800 Welcome address by EXPO 2017 Commissioner to Tourism Conference Commissioner Rapil Zhoshybayev welcome to the Third Astana EXPO 2017 International Tourism Conference on 21 April in Astana. The text of the welcome address was kindly provided by the BC to the secretariat of the Commissioner of EXPO-2017. Fri, 21 Apr 2017 19:40:00 +0300 1492792800 Estonia's forest increment is stable stonia boasted a stable forest increment in 2016, which didn't differ much from 2015, the outcome of a statistical forest inventory survey published by the Estonian Environmental Agency indicates writing LETA/BNS. Fri, 21 Apr 2017 15:20:00 +0300 1492777200 Latvian budget accumulated surplus of 0.01% of GDP in 2016 2016, the general government budget surplus accounted for EUR 3.4 mln or 0.01% of the Gross Domestic Product (GDP), whereas the general government consolidated gross debt amounted to EUR 10 038.3 mln or 40.1 % of the GDP, according to the results of the April 2017 Notification on General Government Budget Deficit and Debt1 compiled by the Central Statistical Bureau (CSB), which has been drawn up in line with the methodology of the European System of Accounts (ESA 2010). Fri, 21 Apr 2017 15:20:00 +0300 1492777200 Hyperloop could be built next to Rail Baltica line The line of the Hyperloop ultra-speed train concept developed by the US startup Hyperloop One could be built next to the European-gauge railway Rail Baltica, Lithuania's Transport and Communications Minister Rokas Masiulis said LETA/BNS. Fri, 21 Apr 2017 15:00:00 +0300 1492776000 Concession-type PPP contract signed for parking project in Vilnius On the 20th of April the Ministry of Health of The Republic of Lithuania signed a 25 year PPP concession contract to design, build and manage the parking infrastructure at Santariskes medical campus in Vilnius. Latuna, a subsidiary of the Lithuanian parking services and management company Unipark, was selected as the preferred bidder for the €14 mln parking infrastructure project, the Invest Lithuania informed BC. Fri, 21 Apr 2017 15:00:00 +0300 1492776000 Lithuanian airports post 16.4 pct growth in Q1 passenger traffic A total of 1.064 mln passengers went through Lithuania's airports in the first quarter if this year, a rise of 16.4% on the same time last year, Statistics Lithuania said. Fri, 21 Apr 2017 14:45:00 +0300 1492775100 Natgas sales by Eesti Gaas drop 14.8% The gas seller Eesti Gaas sold 176.5 mln cubic meters of gas in the first quarter of 2017, 14.8% less than during the same period a year ago, reports LETA/BNS. Fri, 21 Apr 2017 14:45:00 +0300 1492775100 Global and Lithuania’s economic development accelerating, but growth impact not to be felt by everyone due to income inequality Growing inequality in income and opportunities is an issue that is especially relevant to us as well. While we are reasonably excited at the economy’s recovery and growth, the gap between the richest households and those with the lowest income continues to be unjustifiably large; hence, people’s feelings about economic growth vary, and not everyone’s quality of life has been improving. Fri, 21 Apr 2017 13:30:00 +0300 1492770600 Latvia showed EU’s 2nd lowest naturalization rate in 2015 Latvia showed the second lowest naturalization rate - the number of citizenships granted against the number of non-national citizens residing in the respective country - among EU member states in 2015, the latest Eurostat data shows. Fri, 21 Apr 2017 13:30:00 +0300 1492770600 Technopolis Ulemiste nets EUR 7.1 mln in 2016 AS Technopolis Ulemiste, developer of the Ulemiste City complex of commercial properties situated between Tallinn's city center and the airport, boosted its net profit 9.2% year over year to 7.1 mln euros and revenue 17% to 12.9 mln euros in 2016, writes LETA/BNS. Fri, 21 Apr 2017 13:30:00 +0300 1492770600 ABLV Bank invests in SG Capital Partners Fund 1 limited partnership ABLV Bank has invested in SG Capital Partners Fund 1 limited partnership, according to the bank’s statement to the Nasdaq Riga stock exchange. Fri, 21 Apr 2017 13:00:00 +0300 1492768800 Poor state of Latvia's roads causes losses of more than EUR 1 bln to motorists each year The poor state of Latvia’s roads cause losses of more than EUR 1 billion to motorists each year, Janis Lange, CEO of Latvijas Valsts Celi (LVC) state road manager, said at an annual conference on road maintenance and construction today. Fri, 21 Apr 2017 12:50:00 +0300 1492768200 Lithuania's housing market turnover reaches EUR 378 mln in Q1 Lithuanians spent a total of 378.4 mln euros on home purchases in the first quarter of this year, up 18.9% compared with a year ago, but down by 8.9% q-o-q, according to the non-final figures from the Center of Registers showed on Friday writes LETA/BNS. Fri, 21 Apr 2017 12:20:00 +0300 1492766400 Government has already agreed not to support Ventspils Port's participation in Nord Stream 2 project The government has already agreed not to support Ventspils' participation in the Nord Stream 2 gas pipeline project, sources tell LETA. Fri, 21 Apr 2017 12:00:00 +0300 1492765200 Opening of Grand Hotel Kempinski Riga planned in June The opening of the Grand Hotel Kempinski Riga is planned in June of this year, the hotel’s representative Liva Laivina told LETA. Thu, 20 Apr 2017 18:50:00 +0300 1492703400 Bank of Estonia:Financial stability in Estonia could be threatened by rising prices and increasing transaction activity in the real estate market Most of the risks to financial stability in Estonia are low in the near future. The ability of companies to service their loans is supported by a recovery in economic growth and slower growth in wages Transaction activity increased in the real estate market and prices started to rise faster, though this has so far been in line with rising incomes. Rapid growth continues in bank loans to companies and households. The debt of the non-financial sector fell as a ratio to GDP as borrowing from abroad was modest, and Eesti Pank is holding the countercyclical buffer rate at 0%. A tax on the financial sector may have a negative side effect on financial stability and the financing of the economy Thu, 20 Apr 2017 18:10:00 +0300 1492701000 Lihtuania searching for Eurobond issue distributors Lithuania intends to distribute Eurobonds on international markets and is searching for banks that could organize the distribution of issues, international news agency Reuters reported, citing information from IFR writes LETA/BNS. Thu, 20 Apr 2017 18:00:00 +0300 1492700400 Bite mobile operator buys Unistars to gain access to 5G frequency band Bite Latvija (Bite) mobile operator has acquired Unistars telecommunications company, taking a step towards launching a 5G service in Latvia, Bite head Kaspars Buls told LETA. Thu, 20 Apr 2017 17:40:00 +0300 1492699200 Decreased number of potential moms affects number of births Latvia A drop in the number of potential moms is affecting the number of births in Latvia, demographer Ilmars Mezs told LETA. Thu, 20 Apr 2017 17:40:00 +0300 1492699200 Ventspils port offered participation in Nord Stream 2 gas pipeline project The northwestern Latvian port of Ventspils and two terminals operating there, Noord Natie Ventspils Terminals and Eurohome Latvija, have received an offer to participate in the Nord Stream 2 gas pipeline project by ensuring the storage and deliveries of pipes via Ventspils port, Ventspils mayor and the port’s board chairman Aivars Lembergs said at a news conference today citing LETA. Thu, 20 Apr 2017 17:00:00 +0300 1492696800 Lithuania's Small Planet Airlines posts loss for 2016 Lithuanian-owned charter carrier Small Planet Airlines posted 223.1 mln euros in revenue in 2016, up by 22.6% y-o-y, however, ended the year with a loss of 3.8 mln euros after netting a profit of 19.2 million euros in 2015, reports LETA/BNS. Thu, 20 Apr 2017 16:40:00 +0300 1492695600 Latvia supports synchronization of Baltic power grids via Poland Latvia supports the synchronization of the Baltic electricity networks with continental Europe via Poland, Lithuania's Energy Minister Zygimantas Vaiciunas said after discussing the issue with Latvia's Vice-PM and Economics Minister Arvils Aseradens on Thursday. Thu, 20 Apr 2017 16:10:00 +0300 1492693800 Actors don't get visas to perform at Latvian song festival in U.S A guest performance of the Latvian National Theater planned during the U.S. Latvian Song Festival in Baltimore, Maryland, this summer has been canceled due to a visa refusal, according to the festival's website writes LETA. Thu, 20 Apr 2017 15:50:00 +0300 1492692600 The Estonia`s industrial producer price index did not change in March According to Statistics Estonia, in March 2017, the producer price index of industrial output changed by 0.0% compared to February and by 3.1% compared to March 2016. Thu, 20 Apr 2017 15:40:00 +0300 1492692000 Construction price index is up again in Estonia According to Statistics Estonia, the change of the construction price index in the 1st quarter of 2017 was 0.4% compared to the 4th quarter of 2016, and 0.7% compared to the 1st quarter of 2016. Thu, 20 Apr 2017 15:30:00 +0300 1492691400 Renovation of Mezaparks Grand Stage to meet deadlines Renovation of Mezaparks Grand Stage in Riga will meet the set deadline of June 18, 2018, Riga City Council property department director Olegs Burovsb said LETA. Thu, 20 Apr 2017 15:20:00 +0300 1492690800 Lithuania passes bill to restrict imports from Belarus' Astravyets and other unsafe N-plants The Lithuanian parliament on Thursday adopted a bill to restrict electricity imports from the Astravyets nuclear power plant under construction in Belarus and other unsafe nuclear facilities in third countries, reports LETA/BNS. Thu, 20 Apr 2017 15:10:00 +0300 1492690200 Newborn number in Latvia lags behind that of 2016 by 6.9 % in the Q1 of 2017 Provisional demographic indicators on the first three months of 2017 compiled by the Central Statistical Bureau (CSB) show that, compared to the same period a year ago, in the 1st quarter of 2017 in Latvia 365 children fewer were born (drop of 6.9%). Thu, 20 Apr 2017 15:00:00 +0300 1492689600 Riga Zoo to build Environmental Education Center for EUR 1.55 million Riga National Zoo is planning to build an Environmental Education Center for EUR 1.55 million, LETA was told at the Riga City Council which owns the zoo. Thu, 20 Apr 2017 14:40:00 +0300 1492688400 EU lagging behind regions will get additional support European Commission identified ways and measures to support growth in the EU regions, which are lagging behind in terms of growth or wealth. Main source of support comes from the EU cohesion policy and corresponding funds. New report analyses reasons these regions have not yet reached the expected levels of growth and income. Although the Baltic States are not mentioned, there is no room for complacency. Thu, 20 Apr 2017 13:00:00 +0300 1492682400 Moody’s Investors Service upgrades AS Citadele banka credit rating by 2 notches International rating agency “Moody’s Investors Service” has upgraded Citadele Bank’s long-term deposit rating from B1 to Ba2, with positive outlook, the Citadele Bank`s representative told BC. Thu, 20 Apr 2017 11:00:00 +0300 1492675200 Latvia records EU's sixth biggest drop in construction output in Q4 2016 Production in Latvia's construction sector in the fourth quarter of 2016 decreased 11.8 percent as compared to the same quarter in 2015, which was the sixth biggest drop across the European Union member states, according to Eurostat data. Thu, 20 Apr 2017 08:50:00 +0300 1492667400 Latvia records EU's sixth biggest drop in construction output in Q4 2016 Production in Latvia's construction sector in the fourth quarter of 2016 decreased 11.8 percent as compared to the same quarter in 2015, which was the sixth biggest drop across the European Union member states, according to Eurostat data. Thu, 20 Apr 2017 08:50:00 +0300 1492667400 Lithuanian Railways signs deal for Chinese freight transportation via Sestokai station Lietuvos Gelezinkeliai (Lithuanian Railways) has signed an agreement with OTLK, a company set up by Russian, Kazakh and Belarusian railway administrations, that will open the way for freight from China to reach Western Europe via Sestokai, a transshipment hub at the Lithuanian-Polish border, reports LETA/BNS. Thu, 20 Apr 2017 08:00:00 +0300 1492664400 Riga Airport Welcomes Its 60 Millionth Passenger On Wednesday, 19 April, Riga International Airport solemnly welcomed its 60 millionth passenger since the restoration of independence. Curt Almquist arrived at the Airport with a flight from Stockholm operated by the national airline airBaltic. Wed, 19 Apr 2017 20:50:00 +0300 1492624200 Baltic Horizon Fund plans next public offering of new units Northern Horizon Capital AS (the Management Company) announces the plan for next public offering of new units of Baltic Horizon Fund (the Fund) in May 2017, the Fund representatives informed BC. Wed, 19 Apr 2017 17:40:00 +0300 1492612800 Sweden Days in Limbaži to be opened on April 19 The Ambassador of Sweden to Latvia, Mr Henrik Landerholm and a delegation from the Swedish twinning city Klippan are visiting Limbaži on April 19. The program is full of meetings and visits. Wed, 19 Apr 2017 17:20:00 +0300 1492611600 Bank of Estonia: Financial services tax could hinder funding of economy The Bank of Estonia says that the planned taxation of financial services may cause negative side effects to the financial stability of Estonia and undermine the funding of the economy. Wed, 19 Apr 2017 17:00:00 +0300 1492610400 Many Latvian residence permit applications denied based on spying suspicions - Security Police Last year, the most widespread reason for denying Latvian residence permits to foreigners seeking them in return for investments in the Latvian economy was suspicions that these persons might collaborate with foreign intelligence services, according to the Security Police said in a report for 2016 writes LETA. Wed, 19 Apr 2017 16:40:00 +0300 1492609200 New office buildings and conference center in Skanste to contribute greatly to economic development of Riga The most modern office buildings in Riga will be built in Skanste neighborhood in the coming years, which will further contribute to the development of the neighborhood as well as the economic development of Riga and the entire country, according to the conclusions of a conference organized by the Riga City Council and Skanste Development Agency today. Wed, 19 Apr 2017 16:30:00 +0300 1492608600 RAM experts: “Trumpflation” under question? Rietumu Group specialists have prepared a review of the profitability of investment funds of Rietumu Asset Management in March. The review includes an analysis of key economic indicators, the monetary policy. It provides comprehensive information on the situation on stock markets, bond, currency and commodity markets. The review is accompanied with extensive comments from the experts. Wed, 19 Apr 2017 16:30:00 +0300 1492608600 Latvians still feel less secure than Lithuanians and Estonians Latvians still feel less secure than people in other Baltic states, shows the latest Ergo Security Index in the Baltic States. Wed, 19 Apr 2017 15:50:00 +0300 1492606200 Estonian regulator refuses license to Association Bank Citing inability to obtain additional information about Edgar Savisaar, the suspended mayor of Tallinn, the Financial Supervision Authority has halted the review procedure of an application for a banking activity authorization by the Association Bank of Estonia, writes LETA/BNS. Wed, 19 Apr 2017 15:20:00 +0300 1492604400 Price of arable land climbs 8% in Estonia on year The median price of arable land in Estonia increased 8 percent year over year to 2,700 euros per hectare in 2016, according to the figures published by the Land Board writes LETA/BNS. Wed, 19 Apr 2017 15:00:00 +0300 1492603200 Paananen, Nisula, Laht appointed to Enterprise Estonia supervisory board Minister of Entrepreneurship and IT Urve Palo has appointed IT businessman Tiit Paananen, Kone Baltics Managing Director Markus Nisula and agricultural businessman Urmas Laht members of the supervisory board of Enterprise Estonia (EAS). Wed, 19 Apr 2017 14:30:00 +0300 1492601400 Hollister to build plant in Kaunas Hollister Incorporated, a US-based global manufacturer of medical devices and equipment, intends to open a new production site in Kaunas, Lithuania, reported Invest Lithuania. Wed, 19 Apr 2017 14:30:00 +0300 1492601400 Latvia records EU's highest annual inflation in March Latvia had the European Union's highest inflation this past March year on year, according to Eurostat data released on Wednesday. Wed, 19 Apr 2017 13:40:00 +0300 1492598400 Lithuanian supreme court upholds anti-trust fine for Lukoil Baltija The Lithuanian Supreme Administrative Court has upheld a fine imposed by the Competition Council on Amic Lietuva, formerly Lukoil Baltija, for taking over 15 filling stations without clearance from the anti-trust body, reports LETA/BNS. Wed, 19 Apr 2017 13:40:00 +0300 1492598400 Russia is an important partner for Latvia in transport and logistics Russia is an important partner for Latvia in transport and logistics, said Latvian Transport Ministry’s state secretary Kaspars Ozolins at the 22nd international transport conference TransRussia 2017 in Moscow. Wed, 19 Apr 2017 13:30:00 +0300 1492597800 One of Skonto Stadium owners turns to police A legal dispute between the owners of the Skonto Stadium in Riga has taken a new turn as one of the owners, Advantika Group has turned to the police, asking that bailiffs acting on behalf of the other owner, company Light, be held responsible for exceeding their authority in dismantling and removing seats and other equipment from the stadium, reports LETA/BNS. Wed, 19 Apr 2017 13:15:00 +0300 1492596900 Latvian EDA's director notes pronounced shortage of labor in several industries There is a pronounced shortage of labor in several industries at the moment in Latvia, as the State Education Development Agency Director Dita Traidas told Latvian Television this morning, writes LETA. Wed, 19 Apr 2017 12:40:00 +0300 1492594800 Lithuania posts one of EU's largest increases in Q1 new car sales Lithuania's new car sales rose at one of the fastest rates in the EU in the first quarter of 2017 compared with a year ago, figures from the European Automobile Manufacturers' Association (ACEA) showed on Wednesday, reports LETA/BNS. Wed, 19 Apr 2017 12:30:00 +0300 1492594200 Civinity acquires Latvian Labo Namu Agentura International housing management group Civinity has acquired Latvia’s Labo Namu Agentura, Civinity reported. Wed, 19 Apr 2017 12:20:00 +0300 1492593600 Lennart Meri Conference to bring Federica Mogherini to Estonia This year's Lennart Meri Conference, entitled "Darkest Just Before the Dawn?", will consider the severe challenges facing the West and seek to identify the opportunities that may arise in these bleakest moments, and will bring to Estonia EU high representative for foreign affairs Federica Mogherini and Finnish President Sauli Niinisto, among others, writes LETA/BNS. Wed, 19 Apr 2017 12:20:00 +0300 1492593600 Ulemiste mall in Tallinn to expand for EUR 35 mln Ulemiste Keskus, a large shopping center situated in the area of Tallinn Airport, has decided to build an extension of 13,000 square meters by spring 2019, which will feature a cinema, gym, as well as a number of new restaurants and stores, and will cost a total of 35 mln euros, according the daily Postimees reports LETA/BNS. Wed, 19 Apr 2017 12:00:00 +0300 1492592400 Estonia and Russia agree to resume transport cooperation According to Deputy Minister of Transport of the Russian Federation Sergey Aristov, Estonia and Russia have come to an agreement as to the reestablishing of their cooperation in the field of transport, writes LETA/BNS by Interfax information. Wed, 19 Apr 2017 12:00:00 +0300 1492592400 Nokia and Elisa successfully trial first 10-gigabit network in Finland Elisa, a leading telecommunication, information communication technology (ICT) and online service company in Finland, successfully completed a field trial of Nokia's XGS-PON technology, achieving the country's fastest broadband speeds. With 10Gbps symmetrical (downstream and upstream) capabilities, the use of XGS-PON will allow Elisa to cost-effectively deliver ultra-broadband access needed for new high-speed, high-quality residential and business services. Tue, 18 Apr 2017 20:00:00 +0300 1492534800 White Square: join the program of the creative event that everyone is looking forward to! On April 27-29 IX WHITE SQUARE International Advertising Festival, one of the leading creative events of Eastern Europe, will take place. Tue, 18 Apr 2017 19:10:00 +0300 1492531800 Lithuania-Poland power link to be used for electricity trade with Sweden The LitPol Link power interconnection between Lithuania and Poland will be available for use for electricity trade between Lithuania and Sweden starting from July, Litgrid said on Tuesday LETA/BNS. Tue, 18 Apr 2017 16:30:00 +0300 1492522200 43% of participants of Latvian property market back zero tax on one’s only home As many as 43% of participants of the Latvian real estate market believe that people’s only homes should be exempt from taxation, shows a survey conducted by the Latvian realtors’ association (LANIDA). Tue, 18 Apr 2017 16:20:00 +0300 1492521600 Israeli Fintech Simplex Establishing Lithuanian branch Simplex, an Israeli financial technology (fintech) and cybersecurity start-up, has chosen Lithuania ahead of the likes of Luxembourg, Cyprus and the UK as the location for its new global supervision and sales team, Invest Lithuania representative told BC. Tue, 18 Apr 2017 16:00:00 +0300 1492520400