http://www.baltic-course.com/eng/ The Baltic Course - International Internet Magazine. Baltic States News & Analysis, Baltic market reviews eng Sat, 04 Feb 2012 07:10:40 +0200 Baltic Course, The baltic-course@baltic-course.com dmitrijs@mansbirojs.lv http://www.baltic-course.com/eng/good_for_business/?doc=52573 In 2011 industrial production output (1) (at current prices) comprised LVL 4759.2 million, in 4th quarter – LVL 1238.2 million, of which in December – LVL 395.3 million, according to the data of Central Statistical Bureau. Compared to 2010, industrial production volume in 2011 has grown by 8.9%, according to calendar adjusted data at constant prices. Fri, 03 Feb 2012 18:00:00 +0200 1328284800 http://www.baltic-course.com/eng/good_for_business/?doc=52583 Retail trade turnover in Latvia in December 2011 increased by 7.1% from December 2010, which was the second largest increase across the European Union, according to the latest data from the EU's statistical office Eurostat. Lithuania registered the steepest annual increase in retail trade turnover in December – 13%; retail trade turnover in Estonia grew 6.1%. Fri, 03 Feb 2012 17:00:00 +0200 1328281200 http://www.baltic-course.com/eng/analytics/?doc=52593 At the end of January 2012, the retail price for 95 octane gas in Latvia was EUR 1,367.47 per 1,000 liters, including taxes, which is the eight lowest price in the European Union, according to the European Commission's data on fuel prices across the EU. Fri, 03 Feb 2012 17:00:00 +0200 1328281200 http://www.baltic-course.com/eng/good_for_business/?doc=52591 In 2011, Latvia's wood exports amounted to LVL 1.10 – 1.12 billion, the highest figure in the past 20 years, according to the Agriculture Ministry's approximate estimates. Fri, 03 Feb 2012 16:45:00 +0200 1328280300 http://www.baltic-course.com/eng/baltic_states/?doc=52582 The new Treaty on Stability, Coordination and Governance in the Economic and Monetary Union was finalised by all EU member states with the exception of the United Kingdom and the Czech Republic on 2 February, 2012. It is expected to be signed by March 2012. Fri, 03 Feb 2012 16:00:00 +0200 1328277600 http://www.baltic-course.com/eng/finances/?doc=52586 The budget deficit in 2011 was at 4% of gross domestic product, if calculated pursuant to the European account system methodology, according to Latvian Finance Ministry's preliminary estimate. Fri, 03 Feb 2012 16:00:00 +0200 1328277600 http://www.baltic-course.com/eng/transport/?doc=52589 Smuggling illegal goods into the country is a quick and lucrative way to make money, unfortunately, officials are also involved in this illegal activity in Latvia. It is clear that large-scale smuggling cannot be carried out successfully without the support of officials, the deputy chief of the Corruption Prevention Bureau (CPB), Juta Strike, said during a press conference today. Fri, 03 Feb 2012 16:00:00 +0200 1328277600 http://www.baltic-course.com/eng/good_for_business/?doc=52576 In January 2012, Ventspils Port handled slightly more than three million tons of cargo, which is 1.1 million tons or 61% more than in January 2011, as the port's spokesperson Inga Ievina informed LETA. Fri, 03 Feb 2012 15:30:00 +0200 1328275800 http://www.baltic-course.com/eng/analytics/?doc=52578 A little more than a year ago, Estonia adopted the euro – at a time when the Greek crisis, and the Irish, Spanish, Portuguese, and Italian crises, were exposing the common currency’s weaknesses. Today, Estonia's economy is the fastest-growing in the currency bloc, consumers and businesses are paying lower interest rates, and business ties with Finland – a euro member state and Estonia's main trading partner – are tighter than ever, the Bloomberg Businessweek reports. Fri, 03 Feb 2012 15:30:00 +0200 1328275800 http://www.baltic-course.com/eng/good_for_business/?doc=52579 In January 2012 Estonia-based airline Estonian Air carried 42,657 passengers, which was 14.7% more than a year ago, Estonian Air reports in a statement. Fri, 03 Feb 2012 15:00:00 +0200 1328274000 http://www.baltic-course.com/eng/baltic_states/?doc=52565 The European commission aims to strengthen oversight of companies that certify medical devices following a breast implant scandal thought to have affected at least 400,000 women worldwide. Fri, 03 Feb 2012 14:00:00 +0200 1328270400 http://www.baltic-course.com/eng/energy/?doc=52563 The European Commission (EC) is fond of saying how important wind is as a renewable energy source – but critics says its words are not matched by funding, the EU Observer informs. Fri, 03 Feb 2012 13:40:00 +0200 1328269200 http://www.baltic-course.com/eng/markets_and_companies/?doc=52568 European Commission officials have requested explanations from Latvian Justice Minister Gaidis Berzins (All For Latvia!-For Fatherland And Freedom/LNNK) regarding Palink insolvency case. Fri, 03 Feb 2012 13:40:00 +0200 1328269200 http://www.baltic-course.com/eng/baltic_states/?doc=52570 The talks on the reduction of the European Union's multi-annual budget for 2014-2020 started at the end of January 2012 and are currently in progress, European Parliament Member Ivars Godmanis pointed out during today's session of the Saeima European Affairs Committee. Fri, 03 Feb 2012 13:40:00 +0200 1328269200 http://www.baltic-course.com/eng/transport/?doc=52562 In 2012, the national airline airBaltic plans to service approximately the same number of passengers as in 2011 – 3.35 million, Martin Gauss, the airline's CEO, said in an interview with the business information portal Nozare.lv. Fri, 03 Feb 2012 13:00:00 +0200 1328266800 http://www.baltic-course.com/eng/good_for_business/?doc=52555 Finnish trade concern Kesko is considering the possibility of building a major warehouse in Estonia that would service in addition to Finland also the Baltic states and Russian markets, LETA/Postimees Online reports. Fri, 03 Feb 2012 12:45:00 +0200 1328265900 http://www.baltic-course.com/eng/transport/?doc=52557 Extremely low and dangerous temperatures in the capital of Lithuania have led to social services being expanded in order to help those most in need, Vilnius Municipality said. Controllers are distributing free hot tea to all passengers. Fri, 03 Feb 2012 12:30:00 +0200 1328265000 http://www.baltic-course.com/eng/markets_and_companies/?doc=52552 Latvia wants to achieve 80% of the average level of EU direct payments for its farmers, Agriculture Minister Laimdota Straujuma said in an interview with the LNT morning show "900 sekundes" today. Fri, 03 Feb 2012 12:10:00 +0200 1328263800 http://www.baltic-course.com/eng/baltic_states_cis/?doc=52553 A 92-year-old Russian professor has been granted Estonian citizenship, more than seven decades after a Soviet invasion voided his application, the Estonian government said Thursday. Fri, 03 Feb 2012 12:10:00 +0200 1328263800 http://www.baltic-course.com/eng/transport/?doc=52554 Estonia's national carrier Estonian Air confirmed on Friday that it has selected Embraer, the largest producer of regional aircraft, as its regional jet manufacturer and estimates a requirement for 12 Embraer E-Jet aircraft. Fri, 03 Feb 2012 12:00:00 +0200 1328263200 http://www.baltic-course.com/eng/transport/?doc=52556 In January 2012, AS Tallink Grupp transported 644,658 passengers which is a 3.5% decrease compared to January 2011, the company told the Tallinn bourse. Fri, 03 Feb 2012 12:00:00 +0200 1328263200 http://www.baltic-course.com/eng/education/?doc=52577 Young people should know at least four languages upon graduating from high school, because languages present an instrument for learning new skills and advancing in life, President Andris Berzins said during a meeting with Rezekne residents today. Fri, 03 Feb 2012 12:00:00 +0200 1328263200 http://www.baltic-course.com/eng/forums/?doc=52584 Lithuanian Minister of Foreign Affairs Audronius Azubalis is paying a visit to Germany to attend the 48th Munich Security Conference on 3-4 February and the 17th extraordinary session of the Council of Baltic Sea States (CBSS) to mark the 20th anniversary in Plon Castle, Germany on the following day, reported BC the MFA. Fri, 03 Feb 2012 12:00:00 +0200 1328263200 http://www.baltic-course.com/eng/Technology/?doc=52547 In 2011 Ukio bankas went on active expansion of e-shops where it is possible to pay via Eta bankas list and gained growing interest of its clients in this service, Ukio bankas said. Last year number of settlements of Ukio bankas clients in e-shops via Eta bankas increased by 70% and turnover grew 2.3 times. Fri, 03 Feb 2012 10:30:00 +0200 1328257800 http://www.baltic-course.com/eng/finances/?doc=52548 Italy's UniCredit Bank that enjoys a strong presence in Central and Eastern Europe but a limited exposure in the Baltics has been recently speculated to be a likely candidate to sell its regional business, balticbusinessnews.com reports. Fri, 03 Feb 2012 10:30:00 +0200 1328257800 http://www.baltic-course.com/eng/markets_and_companies/?doc=52545 Alma Media OY bought on Thursday the Baltic States' leading Internet-based recruitment company CV Online, Äripäev.ee/LETA reports. Fri, 03 Feb 2012 10:10:00 +0200 1328256600 http://www.baltic-course.com/eng/transport/?doc=52543 Aviation company FlyBe announced that it will end the flights between Finnish towns and Tallinn in the middle of February 2012, LETA/National Broadcasting reports. Fri, 03 Feb 2012 10:00:00 +0200 1328256000 http://www.baltic-course.com/eng/good_for_business/?doc=52544 On Thursday, Zuvintas Biosphere Reserve received the UNESCO certificate. Fri, 03 Feb 2012 10:00:00 +0200 1328256000 http://www.baltic-course.com/eng/legislation/?doc=52546 At a presentation yesterday of the Riga Municipal Police's (RMP) Annual Report, Chief Janis Gedusevs made it clear that his force is lacking officers. Increasing staff will make for a safer capital, he emphasized. Fri, 03 Feb 2012 10:00:00 +0200 1328256000 http://www.baltic-course.com/eng/legislation/?doc=52542 Yesterday, Saeima, with 65 votes in favor, accepted the proposed statement on the importance of the Latvian language. The parliament emphasizes that Latvian, as the sole official language, is enshrined in Latvia's Constitution and is among its basic principles. Fri, 03 Feb 2012 09:45:00 +0200 1328255100 http://www.baltic-course.com/eng/finances/?doc=52532 Swedish finance minister Anders Borg during his visit to Tallinn yesterday had a meeting with the Estonian finance minister Jürgen Ligi; Borg stated that the large Swedish banks should behave in Estonia and other Baltic states as if it was their home, the Estonian news portal BBN reports referring to Eesti Päevaleht daily. Thu, 02 Feb 2012 19:00:00 +0200 1328202000 http://www.baltic-course.com/eng/markets_and_companies/?doc=52531 We waited nearly 20 years for Russia's accession to the World Trade Organization to ensure that its foreign trade regulations are in compliance with the principles and conditions of the global trade system, Latvian Economy Minister Daniels Pavluts announced during today's conference "Russia's accession to the WTO – business opportunities". Thu, 02 Feb 2012 17:00:00 +0200 1328194800 http://www.baltic-course.com/eng/analytics/?doc=52522 In December 2011, producer prices in Latvia decreased by 0.1%, compared to November, which was the smallest reduction across the European Union, according to the latest data from the EU's statistical office Eurostat. Thu, 02 Feb 2012 16:30:00 +0200 1328193000 http://www.baltic-course.com/eng/finances/?doc=52527 As of the end of 2011, the Estonian stabilisation reserve volume was 328.8 million EUR in acquisition value and 333 million EUR in market value, LETA/National Broadcasting reports. Thu, 02 Feb 2012 16:30:00 +0200 1328193000 http://www.baltic-course.com/eng/good_for_business/?doc=52519 The number of Russian tourists using Latvian tourism services, including rural tourism, increased by 40% in 2011, Latvian Travel Agents and Operators' Association representative Kitija Gitendorfa told the business information portal Nozare.lv. Thu, 02 Feb 2012 16:00:00 +0200 1328191200 http://www.baltic-course.com/eng/analytics/?doc=52521 Today, at midnight of February 2, the e-census which had lasted for a month came to an end. According to preliminary data, in the e-census the Personal Questionnaires had been completed on record of 815,467 persons, which is over 62% of the estimated population of Estonia, the Statistics Estonia informs. Thu, 02 Feb 2012 16:00:00 +0200 1328191200 http://www.baltic-course.com/eng/finances/?doc=52523 The Bank of Latvia has included the Citadele Bank in the inter-banking interest rate indices RIGIBID and RIGIBOR. Since February 2012, transactions conducted by Citadele in terms of borrowing or lending money to other banks will influence the indices of the money market for lats, because Citadele is an active participant in the marketplace. Thu, 02 Feb 2012 16:00:00 +0200 1328191200 http://www.baltic-course.com/eng/baltic_states/?doc=52528 The Estonian government approved at its Thursday session of the European Stability mechanism (ESM) foundation agreement and gave authorities to Estonia's permanent representative to the EU Matti Maasikas to sign the agreement, LETA/National Broadcasting reports. Thu, 02 Feb 2012 16:00:00 +0200 1328191200 http://www.baltic-course.com/eng/markets_and_companies/?doc=52520 The preliminary turnover for the chain stores Maxima Latvija in 2011 was LVL 399 million, a 7% increase on 2010, the company's representative Ivars Andins informed the Nozare.lv business portal. Thu, 02 Feb 2012 15:45:00 +0200 1328190300 http://www.baltic-course.com/eng/analytics/?doc=52518 Presently Latvia is the number one country in Europe in terms of how little money the state spends on families with children, only 1% of the gross domestic product, compared to 2-3% in other countries, demographer Ilmars Mezs said in an interview on LNT television this morning. Thu, 02 Feb 2012 15:35:00 +0200 1328189700 http://www.baltic-course.com/eng/good_for_business/?doc=52514 The sales of Estonian-language e-books amounted to 1,500 in January 2012, which was almost 2.5 times higher in comparison with the last year's average, reports Estonian broadcasting corporation ERR referring to the data from the Digital Book Center of Estonia. Thu, 02 Feb 2012 15:10:00 +0200 1328188200 http://www.baltic-course.com/eng/transport/?doc=52513 Technopolis Ulemiste will begin expanding its Tallinn airport campus, the company says in its statement. Thu, 02 Feb 2012 15:00:00 +0200 1328187600 http://www.baltic-course.com/eng/analytics/?doc=52507 It is necessary to consider increasing the minimum monthly wage, however, it will not serve as an instrument for combating shadow economy, Latvian Employers' Confederation Director General Liga Mengelsone points out in an interview with the Nozare.lv business portal. Thu, 02 Feb 2012 14:00:00 +0200 1328184000 http://www.baltic-course.com/eng/markets_and_companies/?doc=52508 Joint-stock company Latvijas Balzams (LB), the largest producer of alcoholic beverages in the Baltic States, achieved LVL 55.11 million in turnover in 2011, according to the company's report submitted to the Riga Stock Exchange. Thu, 02 Feb 2012 14:00:00 +0200 1328184000 http://www.baltic-course.com/eng/good_for_business/?doc=52503 In January 2012, 5000 new members joined the multi-partner loyalty programme BalticMiles, using tablet computers. Thu, 02 Feb 2012 13:40:00 +0200 1328182800 http://www.baltic-course.com/eng/transport/?doc=52500 Swiss company Stadler has filed an appeal against the Administrative Court's decision to grant permission for the procurement of new trains by the state-owned Pasazieru vilciens (Passenger Train) company, as Stadler representative Oskars Frimanis informed Nozare.lv. Thu, 02 Feb 2012 13:30:00 +0200 1328182200 http://www.baltic-course.com/eng/markets_and_companies/?doc=52506 Mobile communications operator Latvijas Mobilais telefons (LMT) posted LVL 28.4 million in profit last year, which is 11.5% less than in 2010, when the company's profit reached LVL 32.1 million, LMT press secretary Sanda Purvina informed the business information portal Nozare.lv. Thu, 02 Feb 2012 13:30:00 +0200 1328182200 http://www.baltic-course.com/eng/good_for_business/?doc=52494 Pan-European group Technopolis, which operates also in Tallinn, Estonia, had net sales in amount of 92.8 million euros in 2011, which was 14.4% more in comparison with the previous year, the stock exchange statement said. Thu, 02 Feb 2012 13:00:00 +0200 1328180400 http://www.baltic-course.com/eng/energy/?doc=52495 Starting Monday, a research group conducts observation flights over the Livonian Bay with the task of looking for a potential open sea wind energy park locations in the framework of an Estonian-Latvian cooperation project, writes LETA/Saarte Hääl. Thu, 02 Feb 2012 13:00:00 +0200 1328180400 http://www.baltic-course.com/eng/markets_and_companies/?doc=52499 Today, Latvian Saeima voted in the five new candidates put forward by the Human Rights and Public Affairs Committee to the National Electronic Mass Media Council. Thu, 02 Feb 2012 13:00:00 +0200 1328180400 http://www.baltic-course.com/eng/legislation/?doc=52491 The Seimas has not adopted the amendments to the Law on the Legal Status of Aliens yet. It is necessary to be done in order to transfer the European Commission's (EC) directives to the national law. Thu, 02 Feb 2012 12:30:00 +0200 1328178600 http://www.baltic-course.com/eng/Technology/?doc=52493 Lithuania-based CD and DVD disc manufacturer BOD Group is entering the c-Si solar cell manufacturing market, using a complete line of equipment being provided by Singulus Technologies, pv-tech.org reports. Thu, 02 Feb 2012 12:30:00 +0200 1328178600 http://www.baltic-course.com/eng/good_for_business/?doc=52483 In 2011, the amount of foreign investment in Latvia-registered companies' share capitals increased by 10.8% or LVL 320 million, newspaper Dienas Bizness reports. Thu, 02 Feb 2012 12:00:00 +0200 1328176800 http://www.baltic-course.com/eng/energy/?doc=52485 Lithuanian electricity transmission system operator Litgrid signed the contract for the reconstruction of Klaipeda transformer substation on January 31, 2012, the announcement to the stock exchange says. Thu, 02 Feb 2012 12:00:00 +0200 1328176800 http://www.baltic-course.com/eng/transport/?doc=52490 The deep freeze has not hindered work at International Airport Riga, with airport representatives telling Nozare.lv the opposite, that such weather is actually very favorable for the operations at the airport. Thu, 02 Feb 2012 12:00:00 +0200 1328176800 http://www.baltic-course.com/eng/legislation/?doc=52492 The Estonian government approved on Thursday of a draft law initiated by the Riigikgu social committee that aims to guarantee required activities of the Unemployment Insurance Fund (UIF) in a satiation where the fund's council lacks quorum to make decisions, LETA/National Broadcasting reports. Thu, 02 Feb 2012 12:00:00 +0200 1328176800 http://www.baltic-course.com/eng/book_review/?doc=52501 Within the framework of the project „GREEN LIFE” agency EKO MEDIA collaborating with 7 partners from Nordic and Baltic States issued the handbook „Environment friendly citizen of the Europe”, informs Eko Media. Thu, 02 Feb 2012 12:00:00 +0200 1328176800 http://www.baltic-course.com/eng/real_estate/?doc=52484 On 31 January 2012 the first stage of implementation of City Service JSC (hereinafter – Company) Board decision was finished – commercial real estate management and maintenance activities were transferred to the subsidiary of the Company City Service LT Ltd. (code 300883806). Thu, 02 Feb 2012 11:45:00 +0200 1328175900 http://www.baltic-course.com/eng/markets_and_companies/?doc=52475 Estonia, Latvia and Lithuania continue their discussions to specify common positions and tactical approach in the reform of the Common Agricultural Policy of the European Union, Estonia's Agricultural Ministry reports. Thu, 02 Feb 2012 10:10:00 +0200 1328170200 http://www.baltic-course.com/eng/baltic_states/?doc=52471 During a meeting with Latvian Finance Minister Andris Vilks (Unity) in Riga yesterday, Swedish Finance Minister Anders Borg urged Latvia not to delay its goal of joining the eurozone in 2014, LETA was informed by the Finance Ministry. Thu, 02 Feb 2012 10:10:00 +0200 1328170200 http://www.baltic-course.com/eng/good_for_business/?doc=52474 In 2011, there was an 18 percent increase for visa requests at Latvian embassies and consulates abroad compared to 2010, Foreign Ministry State Secretary Andris Teikmanis told members of the press yesterday during a special press conference. Thu, 02 Feb 2012 10:10:00 +0200 1328170200 http://www.baltic-course.com/eng/markets_and_companies/?doc=52469 Latvian businessman Viesturs Koziols, who already owns a 51% stake in the joint-stock media company Diena, has acquired 47.86% shares in the newspaper previously owned by the Rowland family, according to an announcement made by Diena yesterday. Thu, 02 Feb 2012 10:00:00 +0200 1328169600 http://www.baltic-course.com/eng/finances/?doc=52472 The NASDAQ OMX Tallinn stock exchange index OMXT gained in January 2012 3.13% to 547.79 points, which is the smallest January increase of the index since 2008, LETA/Postimees Online reports. Thu, 02 Feb 2012 10:00:00 +0200 1328169600 http://www.baltic-course.com/eng/baltic_states_cis/?doc=52476 While meeting with Belarus opposition leader Ales Michalevic in Tallinn on February 1, 2012, Estonian Foreign Minister Urmas Paet noted that the European Union must continue its double-sided policy towards Belarus, which places restrictive sanctions in order to influence the regime while also supporting the democratic forces in Belarus, the Estonian Foreign Ministry reports. Thu, 02 Feb 2012 10:00:00 +0200 1328169600 http://www.baltic-course.com/eng/good_for_business/?doc=52470 Estonian fashion company Baltika’s consolidated retail sales revenue for January 2012 totaled 4,531 thousand euros and increased by 7% compared to January previous year in a situation where the sales area shrunk by 6%. Thu, 02 Feb 2012 09:50:00 +0200 1328169000 http://www.baltic-course.com/eng/energy/?doc=52473 Estonian main electric grid company Elering announced that the Estonian-Finnish sea cable Estlink switched off on Tuesday at noon and will continue to be out of order till 00:00 on February 3, LETA/Postimees Online reports. Thu, 02 Feb 2012 09:45:00 +0200 1328168700 http://www.baltic-course.com/eng/markets_and_companies/?doc=52477 Lithuania-based wood processing company Grigiskes Group has terminated the agreement with Medienos Plausas, the company in bankruptcy, the wood manufacturing company said in a report. Thu, 02 Feb 2012 09:40:00 +0200 1328168400 http://www.baltic-course.com/eng/legislation/?doc=52458 On 1 February at the first conference dedicated to the establishment of the Centre of Excellence for Energy Security (ENSEC COE) in Vilnius, Lithuanian Minister of Foreign Affairs Audronius Azubalis highlighted future role of the Vilnius-based centre in developing standards of smart defence and called on participating representatives of NATO member countries to join the centre's activities and share best practice, reported BC the MFA. Wed, 01 Feb 2012 16:45:00 +0200 1328107500 http://www.baltic-course.com/eng/good_for_business/?doc=52453 In 2012, Latvian politicians plan to concentrate on explaining to prospective investors the advantages offered by the country's ports. Wed, 01 Feb 2012 16:30:00 +0200 1328106600 http://www.baltic-course.com/eng/finances/?doc=52457 The first stage of selling investment and wealth management business Finasta and one of the major finance service businesses Snoro Lizingas has already finished. Wed, 01 Feb 2012 16:30:00 +0200 1328106600 http://www.baltic-course.com/eng/legislation/?doc=52452 A Latvian man has been jailed for life after murdering his wife in Great Britain this past August, local media report. After killing his wife Edite Titane, Agris Titans fled, leaving their three-year-old daughter Keita in the bedroom with her mother’s body. Wed, 01 Feb 2012 16:10:00 +0200 1328105400 http://www.baltic-course.com/eng/markets_and_companies/?doc=52448 In an effort to maximise the use of logging waste for biofuels in Lithuania, in the National Forestry Sector Development Programme submitted to the Government, the Ministry of Environment suggests boosting the volumes of this waste prepared for use approximately six times, from 80,000 cubic metres to 500,000 cubic metres per year, the Ministry of Environment said. Wed, 01 Feb 2012 16:00:00 +0200 1328104800 http://www.baltic-course.com/eng/transport/?doc=52454 East Capital, a Stockholm-based fund manager investing in Eastern Europe, agreed to buy a logistics property in Estonian capital Tallinn as it launched a second real-estate fund in the Baltic region. Wed, 01 Feb 2012 16:00:00 +0200 1328104800 http://www.baltic-course.com/eng/markets_and_companies/?doc=52445 European Union direct payments are an extra bonus that actually degrades farmers, because they do not have to account to anyone about how they use these funds, former Agriculture Minister Martins Roze (Union of Greens and Farmers) says in an interview with the Nozare.lv business portal. Wed, 01 Feb 2012 15:35:00 +0200 1328103300 http://www.baltic-course.com/eng/markets_and_companies/?doc=52447 In 2011, Lithuanian Ministry of Environment paid more money for European Union-funded projects than planned, the Ministry of Environment said. Wed, 01 Feb 2012 15:35:00 +0200 1328103300 http://www.baltic-course.com/eng/baltic_states/?doc=52446 Latvian Foreign Minister Edgars Rinkevics has also welcomed the newly-agreed-on European Union fiscal pact, saying that it is an important agreement for Europe's future, LETA was informed by the Foreign Ministry. Wed, 01 Feb 2012 15:30:00 +0200 1328103000 http://www.baltic-course.com/eng/markets_and_companies/?doc=52441 Estonian Ministry of Economic Affairs is planning to draft legislation that would once and for all put an end to alcohol rental – a scheme used by a number of companies to skirt the 2008 nighttime sales ban. Wed, 01 Feb 2012 15:00:00 +0200 1328101200 http://www.baltic-course.com/eng/good_for_business/?doc=52437 As the situation normalizes at the public catering company Lido, the company's owner Gunars Kirsons plans to launch a new project to develop a new chain of stores and cafes, the newspaper Biznes&Baltija reports today. Wed, 01 Feb 2012 14:00:00 +0200 1328097600 http://www.baltic-course.com/eng/analytics/?doc=52428 After the economic crisis in 2009, 2010 saw the first signs of Latvian economy stabilisation. However, retailing continued to post a weak performance. The crisis led to many people losing their jobs or facing salary cuts, which considerably impacted the overall purchasing power of the nation. Wed, 01 Feb 2012 13:40:00 +0200 1328096400 http://www.baltic-course.com/eng/energy/?doc=52429 Poland's top refiner PKN Orlen warned that its fourth quarter operating profit in 2011 would drop by some 90%, much worse than analysts had predicted, because of writedowns of the value of its investments abroad, Reuters/LETA wrote. Wed, 01 Feb 2012 13:10:00 +0200 1328094600 http://www.baltic-course.com/eng/finances/?doc=52433 Siauliu Bankas was recognized as the company of the NASDAQ OMX Vilnius that has made the biggest improvement in the area of investors' relations over the previous year, the Siauliu bank said. Wed, 01 Feb 2012 13:10:00 +0200 1328094600 http://www.baltic-course.com/eng/analytics/?doc=52416 Statistics Estonia lengthens the opportunity to participate in the e-census by 24 hours due to a big interest of the population in the e-census. People can participate online in the Population Census until 23:59 on 1 February. Wed, 01 Feb 2012 13:00:00 +0200 1328094000 http://www.baltic-course.com/eng/baltic_states/?doc=52434 Harmonized actions on all levels have resulted in a representative from Latvia taking the highest-ever office in an international European organization, Saeima Chairwoman Solvita Aboltina (Unity) said at a meeting with the new Council of Europe Commissioner for Human Rights Nils Muiznieks yesterday, LETA learned from Saeima Press Service. Wed, 01 Feb 2012 13:00:00 +0200 1328094000 http://www.baltic-course.com/eng/markets_and_companies/?doc=52427 The total consolidated revenue of TEO LT JSC Group, the largest provider of integrated telecommunication, IT and TV services in Lithuania, during 2011 amounted to LTL 750 million (EUR 2117 million), and net profit for the period amounted to LTL 154 million (EUR 44.6 million). EBITDA for the year 2011 was LTL 302 million (EUR 87.4 million), EBITDA margin – 40.3% teo.lt reported. Wed, 01 Feb 2012 12:30:00 +0200 1328092200 http://www.baltic-course.com/eng/energy/?doc=52423 Estonian economy minister Juhan Parts' previous attempt to reduce state subsidies for production of "green" electricity failed in the autumn of 2010; yesterday the ministry sent a new plan of cuts to a round of approvals, LETA/Postimees writes. Wed, 01 Feb 2012 12:10:00 +0200 1328091000 http://www.baltic-course.com/eng/good_for_business/?doc=52418 Oil transit company Vopak E.O.S., which is testing a new GE locomotive that is assembled in Kazakhstan, plans to start producing the locomotives itself, LETA/Eesti Päevaleht writes. Wed, 01 Feb 2012 12:00:00 +0200 1328090400 http://www.baltic-course.com/eng/transport/?doc=52421 Spanish company Construcciones y Auxiliar de Ferrocarriles, S.A. (CAF) has extended its offer to supply new trains for the government-run company Pasazieru vilciens (Passenger Train), taking into consideration the decisions taken by the government and courts at the end of January, as Pasazieru vilciens confirmed to the Nozare.lv business portal. Wed, 01 Feb 2012 12:00:00 +0200 1328090400 http://www.baltic-course.com/eng/finances/?doc=52422 On Tuesday, the Supervisory Board of Eesti Pank put forward a proposal to President Toomas Hendrik Ilves to nominate Ardo Hansson as the next governor of the central bank, the central bank announced. Wed, 01 Feb 2012 12:00:00 +0200 1328090400 http://www.baltic-course.com/eng/transport/?doc=52415 In 2012 EU funding will enable the improvement of traffic safety conditions and safety in Lithuania, the Ministry of Transport and Communications said. For this reason there is planned the reconstruction of the main national road Vilnius-Kaunas-Klaipeda, construction of bypasses, implementation of traffic safety and environmental measures. Wed, 01 Feb 2012 11:40:00 +0200 1328089200 http://www.baltic-course.com/eng/transport/?doc=52419 The Estonian Supreme Court declared null and void the provision in the liquid fuels law, according to which companies that were included in the registry before the law amendments came in force, had to submit to the state a 100,000 euro VAT guarantee, LETA/National Broadcasting reports. Wed, 01 Feb 2012 11:30:00 +0200 1328088600 http://www.baltic-course.com/eng/finances/?doc=52414 The Estonian Tax and Customs Board (TCB) will increase the number of auditors and tax collectors by dozens of people in 2012, with the aim of increasing state budget income, LETA/Postimees writes. Wed, 01 Feb 2012 11:00:00 +0200 1328086800 http://www.baltic-course.com/eng/energy/?doc=52411 A potential European Union move to a stricter emissions-reduction goal is conditional on efforts by non-EU nations to cut greenhouse gases, a Polish government official was quoted as saying by Bloomberg. Wed, 01 Feb 2012 10:10:00 +0200 1328083800 http://www.baltic-course.com/eng/transport/?doc=52406 Yesterday, the Riga City Council confirmed that the third stage of Dienvidu (Southern) Bridge construction will be completed by the consortium of construction companies ACB, Tilts un Viadukts. To complete the project, the municipality will borrow LVL 17 million. Wed, 01 Feb 2012 10:00:00 +0200 1328083200 http://www.baltic-course.com/eng/good_for_business/?doc=52407 The turnover of Estonia’s largest retail group ETK Group was 390.9 million euros in 2011, increasing 8.7% in a year, Äripäev.ee/LETA reports. Wed, 01 Feb 2012 10:00:00 +0200 1328083200 http://www.baltic-course.com/eng/baltic_states/?doc=52408 Lithuanian and Dutch cooperation in the energy sector is very important because the Netherlands have a great experience in the gas market, said Lithuanian Prime Minister Andrius Kubilius and encouraged Dutch businessmen to expand their businesses in Lithuania. Wed, 01 Feb 2012 10:00:00 +0200 1328083200 http://www.baltic-course.com/eng/transport/?doc=52409 The amendments to the liquid fuels law that came in force in Estonia in April 2011, introducing a guarantee requirement for companies that trade with fuel, has reduced the number of such companies by a half, Äripäev.ee/LETA reports. Wed, 01 Feb 2012 10:00:00 +0200 1328083200 http://www.baltic-course.com/eng/analytics/?doc=52410 In January 2012, production expectations in Lithuania for the next months were a little more optimistic than in December. Fewer companies' leaders – 27% – expect production to decrease, 18% of companies' leaders think it is going to increase (in December – 30 and 17%, respectively). Wed, 01 Feb 2012 10:00:00 +0200 1328083200 http://www.baltic-course.com/eng/good_for_business/?doc=52378 Cargo turnover at Latvian ports in the 4th quarter of 2011 comprised 17.8 million tons, which is 13.9% more than in the 4th quarter of 2010, according to the data of the Central Statistical Bureau. Altogether in 2011 the amount of loaded cargo at Latvian ports reached 68.8 million tons, which is 12.5% more than a year before. In the 4th quarter of 2011, passenger turnover at Riga International Airport comprised 1.1 million passengers – an increase of 4.4% as compared to the 4th quarter of 2010. Tue, 31 Jan 2012 19:00:00 +0200 1328029200 http://www.baltic-course.com/eng/analytics/?doc=52379 It was hardly any doubt that the agreement, called “financial compact”, would be accepted by the EU member states’ majority at the summit during last January days in 2012. A slight surprise was the Czech’s government decision to join the UK in opposing the drastic financial measures for the member states. There are however some lessons to learn for the Baltic States. Tue, 31 Jan 2012 19:00:00 +0200 1328029200 http://www.baltic-course.com/eng/good_for_business/?doc=52358 According to Statistics Estonia, in 2011 the production of industrial enterprises grew by 18% compared to the previous year. The growth of production was mainly influenced by the external demand, but the domestic demand also increased continually during the year. Tue, 31 Jan 2012 18:00:00 +0200 1328025600