The Baltic Course | Baltic States news & analytics http://www.baltic-course.com/eng/ The Baltic Course - International Internet Magazine. Baltic States News & Analysis, Baltic market reviews eng Sun, 21 Apr 2019 01:48:25 +0300 Baltic Course, The baltic-course@baltic-course.com dmitrijs@mansbirojs.lv Are you part of the collaborative economy? http://www.baltic-course.com/eng/analytics/?doc=148706 According to 2018 survey results on the usage of Information and Communication Technologies (ICT) 19 % of individuals in the European Union (EU) arranged accommodation (room, apartment, house, holiday cottage, etc.) via websites or apps from another private individual for private purposes in the preceding 12 months. Thu, 18 Apr 2019 20:30:00 +0300 1555608600 Main producers of chocolate in the EU http://www.baltic-course.com/eng/analytics/?doc=148705 In 2017, the European Union (EU) produced around 4.0 million tonnes of chocolate, worth 18.3 bn EUR, informed Eurostat. Thu, 18 Apr 2019 20:20:00 +0300 1555608000 Presidents of Estonia, Russia discuss bilateral relations http://www.baltic-course.com/eng/good_for_business/?doc=148704 Estonian President Kersti Kaljulaid met with Russian President Vladimir Putin in Moscow on Thursday, the main topics of the meeting included bilateral relations, economic cooperation and the wider international situation, informed LETA/BNS. Thu, 18 Apr 2019 19:50:00 +0300 1555606200 Banking scandals may make borrowing more expensive http://www.baltic-course.com/eng/direct_speech/?doc=148700 The financial position of the Estonian banking sector is good and the risks to it are small. The biggest risks for Estonian banking are related to the money laundering scandals that have hit the Nordic banking groups operating in Estonia. Reputational damage to the banks could worsen the funding conditions of the Nordic banking groups, which could also make loans more expensive and harder to access for people and companies in Estonia. Thu, 18 Apr 2019 18:10:00 +0300 1555600200 Skeleton Technologies to invest EUR 25 mln in plant in Saxony http://www.baltic-course.com/eng/good_for_business/?doc=148701 Skeleton Technologies, a company of Estonian origin that is a global leader in graphene-based ultracapacitors and energy-storage systems, is to invest 25 mln euros in its plant in the German state of Saxony, reported LETA/BNS. Thu, 18 Apr 2019 18:10:00 +0300 1555600200 Freight handling by Estonian ports up 11 pct on year in March http://www.baltic-course.com/eng/good_for_business/?doc=148699 Estonian ports handled 3.3 million tons of cargo in March 2019, 11.1 percent more than during the same month last year, Statistics Estonia said. Thu, 18 Apr 2019 18:00:00 +0300 1555599600 Ukrainian court finds nationalization of PrivatBank illegal http://www.baltic-course.com/eng/legislation/?doc=148698 A Ukrainian court ruled on Thursday that the 2016 nationalization of PrivatBank, which was owned by a powerful tycoon Ihor Kolomoysky, was illegal, informed LETA/BNS. Thu, 18 Apr 2019 17:30:00 +0300 1555597800 Prices of new apartments in Riga's residential neighborhoods up 2% in March - association http://www.baltic-course.com/eng/real_estate/?doc=148696 In March 2019, the average price of new apartments in Riga’s residential neighborhoods climbed 2 percent from February 2019, according to the housing market price indicator drawn up by the Latvian Real Estate Association (LANIDA). Thu, 18 Apr 2019 17:25:00 +0300 1555597500 CEO of Latvia's PrivatBank resigns http://www.baltic-course.com/eng/finances/?doc=148697 Aleksandrs Kukics has resigned as CEO of Latvia’s PrivatBank, according to information released by the bank, informed LETA. Thu, 18 Apr 2019 17:25:00 +0300 1555597500 Upturn in registered marriages in Latvia, birth numbers keep declining http://www.baltic-course.com/eng/analytics/?doc=148694 Provisional data compiled by the Central Statistical Bureau of Latvia (CSB) show that over the past three years the number of registered marriages has risen slightly. In 2018, 13.4 thousand marriages were registered, which is 200 marriages more than in 2017 when the increase recorded over the year constituted 148 marriages. Thu, 18 Apr 2019 11:45:00 +0300 1555577100 Investor Browder files Swedbank money laundering complaint in Latvia http://www.baltic-course.com/eng/legislation/?doc=148690 Bill Browder, an investor who campaigns to expose corruption, has taken a criminal complaint against Swedbank to Latvian authorities, alleging it was involved in a Russian money laundering scandal, reported LETA. Thu, 18 Apr 2019 11:20:00 +0300 1555575600 Lithuania's Achema, LET buy LNG from Russia's Novatek http://www.baltic-course.com/eng/energy/?doc=148693 Lithuania's fertilizer manufacturer Achema, the country's single largest gas consumer, and state-owned Lietuvos Energijos Tiekimas (LET) purchase natural has not only from Gazprom, but also from Novatek, Russia's biggest privately-owned gas producer, informed LETA/BNS. Thu, 18 Apr 2019 11:20:00 +0300 1555575600 Education ministry proposes four regional blocs with different requirements for the minimum number of pupils at schools http://www.baltic-course.com/eng/education/?doc=148691 The Latvian Education and Science Ministry has come up with a proposal on four regional blocks for schools with different requirements for the minimum number of pupils, reported LETA/BNS. Thu, 18 Apr 2019 11:10:00 +0300 1555575000 Decline in vocational education enrolments in Latvia http://www.baltic-course.com/eng/education/?doc=148692 Data1 compiled by the Central Statistical Bureau of Latvia (CSB) show that in the school year 2018/2019 vocational education enrolments accounted for 27.2 thousand, which is 4.8 % less than a year ago, while the number of entrants has not changed. Thu, 18 Apr 2019 11:10:00 +0300 1555575000 Estonia's Bolt starts business in St. Petersburg http://www.baltic-course.com/eng/good_for_business/?doc=148686 The Tallinn-based ride-sharing platform Bolt launched business in the Russian city of St. Petersburg on Thursday, informed LETA/BNS. Thu, 18 Apr 2019 11:00:00 +0300 1555574400 Kaljulaid to speak with Putin in Estonian http://www.baltic-course.com/eng/baltic_states_cis/?doc=148688 Estonian President Kersti Kaljulaid and Russian President Vladimir Putin will speak respectively in Estonian and Russian at their meeting that is due to take place in the Kremlin on Thursday afternoon, according to the Postimees said LETA/BNS. Thu, 18 Apr 2019 11:00:00 +0300 1555574400 Merko Ehitus to build Laima chocolate factory in Latvia http://www.baltic-course.com/eng/good_for_business/?doc=148689 SIA Merks, part of the listed Estonian builder Merko Ehitus, has entered into a construction contract with SIA Orkla Confectionery & Snacks Latvija for the new Laima chocolate factory construction works in Latvia, Adazi county, Birznieki, informed LETA/BNS. Thu, 18 Apr 2019 11:00:00 +0300 1555574400 Riga Central Market plans to invest EUR 25 mln in development in five years http://www.baltic-course.com/eng/good_for_business/?doc=148687 Rigas Centraltirgus (Riga Central Market, RCT), municipal market operator, in the coming five years plans to invest about EUR 25 mln in development of the market territory, LETA learned. Thu, 18 Apr 2019 10:40:00 +0300 1555573200 Estonian parlt grants Juri Ratas authorization to form govt http://www.baltic-course.com/eng/baltic_states/?doc=148679 As expected, the Estonian parliament on Wednesday granted Center Party leader Juri Ratas authorization to form the new government, informed LETA/BNS. Wed, 17 Apr 2019 22:00:00 +0300 1555527600 Lithuania, other countries sign declaration on Via Carpatia http://www.baltic-course.com/eng/baltic_states/?doc=148680 Lithuanian Transport and Communications Minister Rokas Masiulis and his counterparts from Central and Southern Europe have signed a declaration on further development of the Via Carpatia transnational highway and closer cooperation in strengthening the transport sector, informed LETA/BNS. Wed, 17 Apr 2019 22:00:00 +0300 1555527600 Tanker delivers new LNG cargo for Lithuania's Achema http://www.baltic-course.com/eng/energy/?doc=148681 tanker delivered a new shipment of liquefied natural gas (LNG) from Norway to the Lithuanian port of Klaipeda on Wednesday, Klaipedos Nafta, the LNG terminal's operator, confirmed LETA/BNS. Wed, 17 Apr 2019 22:00:00 +0300 1555527600 EP passes report banning dual quality of products on EU market http://www.baltic-course.com/eng/baltic_states/?doc=148678 he European Parliament today approved a report, which stipulates updating the European Union's customer protection rules in order to tackle the problem of dual quality of products on the EU market, as Girts Salmgriezis, Latvian press and communications adviser at the European People's Party group, told LETA. Wed, 17 Apr 2019 21:50:00 +0300 1555527000 By being united we are a major force in the world http://www.baltic-course.com/eng/direct_speech/?doc=148670 Latvian Prime Minister Krišjānis Kariņš debated the future of Europe with MEPs and Commission President Jean-Claude Juncker on Wednesday, 17 April. In his address to MEPs, Prime Minister K. Kariņš pointed out that the EU is a union based on values of freedom, democracy and the rule of law. Wed, 17 Apr 2019 19:00:00 +0300 1555516800 Lithuanian airports see their passenger, cargo volumes rise this year http://www.baltic-course.com/eng/good_for_business/?doc=148663 Lithuania's state run airport operator Lietuvos Oro Uostai (Lithuanian Airports) serviced 13,400 flights and over 1.32 mln passengers in the first quarter, up 3% and 7% respectively from the same period last year, informed LETA/BNS. Wed, 17 Apr 2019 14:20:00 +0300 1555500000 Citycon's rental income in Estonia, Finland down 3.5% in Q1 http://www.baltic-course.com/eng/real_estate/?doc=148664 The Finnish operator of shopping centers Citycon, which also owns the Kristiine and Rocca al Mare malls in Estonia, saw its net rental income decrease 3.5 percent to 22.6 million euros in the Estonian and Finnish markets in the first quarter of 2019, reported LETA/BNS. Wed, 17 Apr 2019 14:20:00 +0300 1555500000 Lithuanian govt moves to introduce quotas for foreign workers http://www.baltic-course.com/eng/baltic_states_cis/?doc=148665 The government proposed on Wednesday that the Seimas adopt a law introducing quotas for third-country nationals coming to work in Lithuania, informed LETA/BNS. Wed, 17 Apr 2019 14:20:00 +0300 1555500000 Latvian teachers to go on strike in September if their minimum wage is not raised http://www.baltic-course.com/eng/education/?doc=148661 The council of the Latvian Trade Union of Education and Science Employees (LIZDA) today decided to organize an indefinite strike in September if teachers’ pay rules are not amended by mid-May, informed LETA/BNS. Wed, 17 Apr 2019 14:10:00 +0300 1555499400 Operator of Tallinn-St Petersburg bus line keen to launch route to Kiev http://www.baltic-course.com/eng/good_for_business/?doc=148662 The company Baltic Shuttle which at present operates a regular bus service between Tallinn and St. Petersburg wishes to launch a daily Tallinn-Kiev-Tallinn bus service with partners, informed LETA/BNS. Wed, 17 Apr 2019 14:10:00 +0300 1555499400 Workers have started to prefer to work less http://www.baltic-course.com/eng/direct_speech/?doc=148660 The Estonian economy has been one of the fastest growing in Europe in the past three years, and although that growth will slow this year, the labour market will not cool down so much. Wed, 17 Apr 2019 13:45:00 +0300 1555497900 Latvian government has resolved to prepare new tax policy guidelines until May 2020 http://www.baltic-course.com/eng/finances/?doc=148650 The government has resolved to develop new tax policy guidelines until May 2020, according to the action plan prepared by Krisjanis Karins’ (New Unity) government, writes LETA. Wed, 17 Apr 2019 10:40:00 +0300 1555486800 Loans worth EUR 1.28 bn financed through Latvian P2P lending platforms in 2018 http://www.baltic-course.com/eng/finances/?doc=148649 Last year, EUR 1.28 bn worth of loans were financed through Latvian peer-to-peer (P2P) lending platforms, which is 2.6 times more than in 2017, LETA was told at the Alternative Financial Services Association of Latvia. Wed, 17 Apr 2019 10:20:00 +0300 1555485600 Latvia's tax revenue 3.7% above target in Q1 http://www.baltic-course.com/eng/finances/?doc=148645 During the first three months of this year, the State Revenue Service collected EUR 2.17 bn in taxes, beating the first-quarter tax revenue target by EUR 77.619 mln or 3.7 %, according to information released by the Revenue Service writes LETA. Wed, 17 Apr 2019 09:20:00 +0300 1555482000 Apartment prices in Soviet-era standard design houses up 0.6% this year - Arco Real Estate http://www.baltic-course.com/eng/real_estate/?doc=148646 In March this year, apartment prices in Soviet-era standard design houses in Riga rose 0.4 % against February and increased 0.6 from the beginning of the year, Arco Real Estate said in its latest report on the situation in the standard-design apartment market, citin LETA. Wed, 17 Apr 2019 09:20:00 +0300 1555482000 Mintos P2P lending platform launches funding project Mintos Impact Fund http://www.baltic-course.com/eng/finances/?doc=148647 Latvia’s Mintos peer-to-peer (P2P) lending platform has reached EUR 2 bn in total loans financed through the marketplace and started its first funding project Mintos Impact Fund, the company’s representatives informed BC. Wed, 17 Apr 2019 09:20:00 +0300 1555482000 Billerudskorsnas Latvia timber company nearly doubles turnover in 2018 http://www.baltic-course.com/eng/good_for_business/?doc=148648 The Swedish-owned timber company Billerudskorsnas Latvia nearly doubled its turnover last year, achieving EUR 64.717 mln, while the company’s profit grew multiple times to EUR 2.652 mln, according to information available at Firmas.lv business website writes LETA. Wed, 17 Apr 2019 09:20:00 +0300 1555482000 HansaMatrix posts EUR 659,500 in audited profit in 2018 http://www.baltic-course.com/eng/markets_and_companies/?doc=148640 Company HansaMatrix achieved EUR 20.535 mln in turnover last year, an increase of 5.4% on 2017, while the company's profit decreased 46.2% to EUR 659,501, according to the company's financial report submitted to Nasdaq Riga stock exchange. Tue, 16 Apr 2019 22:00:00 +0300 1555441200 Estonian Consumer Disputes Committee removes SmartLynx form blacklist http://www.baltic-course.com/eng/transport/?doc=148644 The Estonian Consumer Disputes Committee has removed the low-cost carrier SmartLynx from its blacklist after the company paid out a compensation to a passenger, informed LETA/BNS. Tue, 16 Apr 2019 22:00:00 +0300 1555441200 Kazakhstan continues working to attract foreign investments http://www.baltic-course.com/eng/baltic_states_cis/?doc=148622 In the modern world, business is associated with certain risks and difficulties. Typically, entrepreneurs look for reliable ways to develop and strengthen their businesses. Investment is a kind of long-term business plan bringing good income for many years under proper approach. Tue, 16 Apr 2019 21:45:00 +0300 1555440300 OECD points to long-term unemployment as serious problem in Latvia http://www.baltic-course.com/eng/analytics/?doc=148642 The Organization for Economic Cooperation and Development (OECD) says that the fact that long-term unemployed, including people who have lost hopes to find work, made up 3.3% of Latvia’s labor force in 2017 represents a serious problem, according to an OECD report on Latvia presented on Tuesday, writes LETA. Tue, 16 Apr 2019 21:45:00 +0300 1555440300 Russia, Belarus to make efforts to sell nuclear power to Baltics - Lithuanian minister http://www.baltic-course.com/eng/energy/?doc=148641 As Lithuania is taking steps to block electricity imports from the Astravyets nuclear power plant in Belarus, the country's Energy Minister Zygimantas Vaiciunas is convinced that Russia and Belarus will make special efforts to circumvent these barriers to export the plant's electricity to the Baltic countries, informed LETA/BNS. Tue, 16 Apr 2019 21:30:00 +0300 1555439400 Estonian parlt to vote on granting Juri Ratas authorization to form govt on Wednesday http://www.baltic-course.com/eng/baltic_states/?doc=148638 Center Party leader and prime minister candidate Juri Ratas is to appear before the parliament on Wednesday to give a speech on the formation of the coalition government of the Center Party, Isamaa and the Estonian Conservative People's Party (EKRE), after which the Riigikogu is to vote on granting him authorization to form the government, informed LETA/BNS. Tue, 16 Apr 2019 21:00:00 +0300 1555437600 Pro Kapital to invest over EUR 100 mln in Latvian projects http://www.baltic-course.com/eng/good_for_business/?doc=148639 Listed real estate developer Pro Kapital Grupp is planning to invest more than 100 million euros in project development in Latvia in the coming years, the company's spokesperson Anete Gribuste said LETA/BNS. Tue, 16 Apr 2019 21:00:00 +0300 1555437600 Tartu County Tourism Foundation developing St. Petersburg-Riga tourism route http://www.baltic-course.com/eng/good_for_business/?doc=148627 A tourism project called Via Hanseatica Plus initiated by the Tartu County Tourism Foundation is to focus in the coming two years on expanding the St. Petersburg-Riga route towards Rakvere in North Estonia and the southern town of Viljandi, as well as to the Russian towns of Vyborg and Pskov, reported LETA/BNS. Tue, 16 Apr 2019 12:50:00 +0300 1555408200 Chairman of the Board on central bank digital currencies http://www.baltic-course.com/eng/direct_speech/?doc=148625 Speech by Mr. Vitas Vasiliauskas, Chairman of the Board of the Bank of Lithuania, on the topic of central bank digital currencies, delivered at the Reinventing Bretton Woods Committee conference Managing the Soft Landing of the Global Economy, held in Washington DC. Tue, 16 Apr 2019 12:30:00 +0300 1555407000 Lithuanian Railways to transport Chinese postal items within Lithuania http://www.baltic-course.com/eng/good_for_business/?doc=148624 Lietuvos Gelezinkeliai (Lithuanian Railways) will begin to transport Lithuania-bound postal items from China within the country's territory for the first time this year, with the first trial shipment scheduled for May, informed LETA/BNS. Tue, 16 Apr 2019 12:20:00 +0300 1555406400 Estonia's TMB selling Finnish, Latvian plants to Consolis http://www.baltic-course.com/eng/markets_and_companies/?doc=148623 The Finnish-French supplier of precast concrete solutions Consolis is buying the Finnish and Latvian units of TMB Grupp, the key owners of which are Estonian businessmen Jaan Luts and Vallot Mangus. Tue, 16 Apr 2019 12:00:00 +0300 1555405200 Estonia, Portugal to exchange e-prescriptions http://www.baltic-course.com/eng/good_for_business/?doc=148621 Estonia and Portugal are about to sign a memorandum of understanding on Tuesday whereby they agree to start the exchange of e-prescriptions and strengthen cooperation in e-health between the two countries, informed LETA/BNS. Tue, 16 Apr 2019 11:20:00 +0300 1555402800 Latvian exports of forestry products up 19.8% in January-February http://www.baltic-course.com/eng/good_for_business/?doc=148614 In January-February 2019, Latvia exported EUR 451.82 mln worth of forestry products, which is an increase of 19.8% against the same period a year ago, according to information released by the Agriculture Ministry writes LETA. Tue, 16 Apr 2019 10:20:00 +0300 1555399200 LHV's loan portfolio hits EUR 1 bln http://www.baltic-course.com/eng/finances/?doc=148615 The size of the loan portfolio of LHV reached one billion euros in the first quarter of 2019 while consolidated net profit for the three-month period totaled five million euros, the listed financial services group said in its first-quarter report, informed LETA/BNS. Tue, 16 Apr 2019 10:20:00 +0300 1555399200 airBaltic sees 12.1% increase in passenger numbers in Q1 http://www.baltic-course.com/eng/good_for_business/?doc=148613 Latvian airline airBaltic during the first three months of 2019 has transported 818 129 passengers or 12% more than last year to its network spanning Europe, Scandinavia, Russia, CIS and the Middle East, the airline informed BC. Tue, 16 Apr 2019 10:10:00 +0300 1555398600 Latvijas Pasts postal company posts EUR 85 mln in 2018 turnover http://www.baltic-course.com/eng/good_for_business/?doc=148612 Latvijas Pasts postal company last year posted about EUR 85 million in turnover, and closed the year with a profit, the company’s board member Kristaps Krumins said in an interview with commercial LNT television today, referred LETA. Tue, 16 Apr 2019 10:00:00 +0300 1555398000 Vehicles leased from Swedbank not allowed to enter Russia without paying deposit http://www.baltic-course.com/eng/transport/?doc=148608 Russia has imposed a restriction on vehicles belonging to Swedbank Liising, leasing arm of the Estonian operation of Swedbank, and does not allow such vehicles to enter the territory of Russia without the payment of a security deposit, reported LETA/BNS. Mon, 15 Apr 2019 21:00:00 +0300 1555351200 Share price of Grindex pharmaceutical company up 40.13% on Monday http://www.baltic-course.com/eng/finances/?doc=148607 Share price of Latvia’s Grindex pharmaceutical company on Monday skyrocketed 40.13 percent, according to the Riga bourse Mon, 15 Apr 2019 20:10:00 +0300 1555348200 IKEA to create digital development team in Vilnius http://www.baltic-course.com/eng/good_for_business/?doc=148606 The franchise holder for IKEA in the Baltic countries and Iceland is about to establish a digital development team in the Lithuanian capital Vilnius to speed up digital transition for the company in Estonia, Latvia, Lithuania and Iceland, reported LETA/BNS. Mon, 15 Apr 2019 19:20:00 +0300 1555345200 Corruption Prevention Bureau searches Riga Hospital No.1, detains three persons http://www.baltic-course.com/eng/legislation/?doc=148605 The Corruption Prevention Bureau (KNAB) on Monday conducted searches at Riga Hospital No. 1 and detained three persons in a criminal case, according to the information obtained by LETA. Mon, 15 Apr 2019 19:00:00 +0300 1555344000 Nord Stream 2 Submits Third Application in Denmark – Despite Legal Reservations http://www.baltic-course.com/eng/energy/?doc=148667 Today, more than two years after submitting its first application for a route through Danish waters, Nord Stream 2 AG has submitted a third application. Mon, 15 Apr 2019 17:55:00 +0300 1555340100 Latvian ice hockey team supported by Rietumu Bank will go to an exhibition tournament in France this April http://www.baltic-course.com/eng/forums/?doc=148598 In preparation for this year’s Ice Hockey World Championships, with the support of the Rietumu Bank Latvian squad’s travels to France for two exhibition matches against the French team, which will be played on April 19 and 20. Mon, 15 Apr 2019 17:25:00 +0300 1555338300 Bolt to start business in Russia's St Petersburg http://www.baltic-course.com/eng/good_for_business/?doc=148594 According to Russian media, the Tallinn-based ridesharing platform Bolt is about to start business in the city of St. Petersburg on Thursday, informed LETA/BNS. Mon, 15 Apr 2019 12:50:00 +0300 1555321800 Stock exchange applies observation status to Grindex http://www.baltic-course.com/eng/legislation/?doc=148595 Nasdaq Riga on Monday applied observation status to Grindex pharmaceutical company shares, the stock exchange said in a statement. Mon, 15 Apr 2019 12:50:00 +0300 1555321800 75% of EU funding available to Latvia invested in various projects http://www.baltic-course.com/eng/finances/?doc=148584 So far, 75% of the EU funding available to Latvia in this programming period have been invested in various projects, according to the Finance Ministry’s report on the absorption of EU funds writes LETA. Mon, 15 Apr 2019 10:30:00 +0300 1555313400 Fitch affirms Latvia’s rating at 'A-'; outlook stable http://www.baltic-course.com/eng/good_for_business/?doc=148582 Fitch Ratings agency has affirmed Latvia's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'A-' with a Stable Outlook, the ratings agency informs. Mon, 15 Apr 2019 10:20:00 +0300 1555312800 Einari Bambus to head Tallinn Airport until appointment of new CEO http://www.baltic-course.com/eng/transport/?doc=148583 Einari Bambus, member of the management board of Tallinn Airport, will serve as interim CEO of the state-owned airport company until the appointment of a new CEO, as former CEO Piret Murk-Dubout started work on Monday as member of the management board of listed shipper Tallink, reported LETA/BNS. Mon, 15 Apr 2019 10:20:00 +0300 1555312800 Lithuania's Novaturas turnover up 12% to EUR 28.8 mln this year http://www.baltic-course.com/eng/good_for_business/?doc=148580 Novaturas, one of the largest tour operators in the Baltic states, posted 28.8 mln euros in revenue in January-March of this year, up 12% from the same period last year, reported LETA/BNS. Mon, 15 Apr 2019 09:20:00 +0300 1555309200 Tele2 mobile phone operator achieved highest download speed in Latvia last year - Public Utilities Commission http://www.baltic-course.com/eng/good_for_business/?doc=148581 The average download speed in mobile phone operator Tele2's 4G network was 45.68 megabits per second last year, according to the Public Utilities Commission's data writes LETA/BNS. Mon, 15 Apr 2019 09:20:00 +0300 1555309200 Klaipeda businessman named among donors of army cathedral in Russia http://www.baltic-course.com/eng/baltic_states_cis/?doc=148579 Vladimir Stefanov, a businessman from Lithuania's Klaipeda, is a financial donor of a Russian Armed Force's Orthodox cathedral under construction near Moscow, according the 15min.lt news website reports LETA/BNS. Fri, 12 Apr 2019 21:00:00 +0300 1555092000 Poland's Laude sets up business in Lithuania's Kaunas http://www.baltic-course.com/eng/good_for_business/?doc=148571 Polish transport and logistics company Laude is setting up its business in Lithuania's second-largest city of Kaunas and has established a new company, Laude Baltica, informed LETA/BNS. Fri, 12 Apr 2019 14:30:00 +0300 1555068600 Foreign-controlled enterprises in EU: value added http://www.baltic-course.com/eng/analytics/?doc=148568 n 2016, 1.2% of enterprises in the European Union (EU) were foreign-controlled. They accounted for 15.3% of EU employment and 25.0% of the value added in the non-financial business economy. Between 2010 and 2016, the share of value added by foreign-controlled enterprises in the EU rose by 2.3 percentage points. Fri, 12 Apr 2019 13:45:00 +0300 1555065900 Gerd Müller: Construction is one of the industries with the lowest efficiency http://www.baltic-course.com/eng/direct_speech/?doc=148558 Model design experts from Estonia and abroad will take part in the largest BIMSummit 2019 digital construction conference in Estonia taking place for the third time. The conference will introduce BIM projects with innovative solutions from Estonia and other countries. Fri, 12 Apr 2019 11:00:00 +0300 1555056000 US pharmaceutical giant McKesson confirms it's setting up service center in Vilnius http://www.baltic-course.com/eng/good_for_business/?doc=148554 US-based pharmaceutical wholesale giant McKesson has confirmed to that it is setting up a financial service center in Vilnius and has already established a company, McKesson Business Services Lithuania, reported LETA/BNS. Fri, 12 Apr 2019 10:40:00 +0300 1555054800 Rail Baltica will ensure smooth military freight movement http://www.baltic-course.com/eng/baltic_states/?doc=148556 The pan-Baltic European standard-gauge railway project Rail Baltica will help to ensure smooth military freight movement across the whole region, Lithuanian Transport Minister Rokas Masiulis says LETA/BNS. Fri, 12 Apr 2019 10:40:00 +0300 1555054800 Turnover of Merks construction company up 90.1% in 2018 http://www.baltic-course.com/eng/good_for_business/?doc=148555 Latvia’s Merks construction company in 2018 posted EUR 144.415 mln in turnover, up 90.1% from 2017, but the company’s profit dropped 6.3 times to EUR 2.469 mln, according to Firmas.lv business database. Fri, 12 Apr 2019 10:40:00 +0300 1555054800 Estonia's ISS issues warning re recruitment attempts by Chinese intelligence http://www.baltic-course.com/eng/baltic_states/?doc=148557 The Estonian Internal Security Service (ISS) in a yearbook published on Friday issued a warning regarding recruitment attempts by Chinese intelligence, reported LETA/BNS. Fri, 12 Apr 2019 10:40:00 +0300 1555054800 Estonian criminal police search offices of 6 agricultural enterprises http://www.baltic-course.com/eng/legislation/?doc=148553 Criminal police on Tuesday searched the offices of six companies involved in agriculture in order to investigate the potential committing of a competition crime and the submission of false information to the Estonian Agricultural Registers and Information Board (PRIA) with the purpose of receiving subsidy, according the regional Tartu Postimees information reports LETA/BNS. Fri, 12 Apr 2019 10:10:00 +0300 1555053000 Estonian School of Diplomacy to start teaching Finnish top officials http://www.baltic-course.com/eng/education/?doc=148551 The Estonian School of Diplomacy has won a public procurement organized by the Government Office of Finland, according to which approximately 100 Finnish top officials must be trained before the start of the Finnish presidency of the Council of the European Union beginning on July 1, informed LETA/BNS. Fri, 12 Apr 2019 09:05:00 +0300 1555049100 1,000 Kilometres of the Nord Stream 2 Pipeline Laid http://www.baltic-course.com/eng/energy/?doc=148668 A total of 1,000 kilometres of the Nord Stream 2 gas pipeline has now been laid in Finnish, Swedish and German waters. Thu, 11 Apr 2019 18:00:00 +0300 1554994800 Tallinn city council elects Mihhail Kolvart mayor http://www.baltic-course.com/eng/baltic_states/?doc=148545 As expected, the city council of Tallinn on Thursday elected Mihhail Kolvart, who had until now been serving as chairman of the city council, as the city's mayor, informed LETA/BNS. Thu, 11 Apr 2019 17:55:00 +0300 1554994500 Embezzlement-suspected Russian sets up company in Lithuania http://www.baltic-course.com/eng/legislation/?doc=148542 A Russian citizen suspected of embezzlement in his country has established a company in Lithuania, informed LETA/BNS. Thu, 11 Apr 2019 17:00:00 +0300 1554991200 Latvian director Hermanis to stage production about Gorbachev in Moscow http://www.baltic-course.com/eng/baltic_states_cis/?doc=148541 Latvian stage director Alvis Hermanis, who was once declared persona non grata in Russia, has received a Russian visa to stage a production about the Soviet Union’s former President Mikhail Gorbachev, the director has revealed in an interview to Ir magazine, citing LETA. Thu, 11 Apr 2019 16:50:00 +0300 1554990600 TV3 tops list of most-watched TV channel in March http://www.baltic-course.com/eng/markets_and_companies/?doc=148539 TV3 commercial television channel topped the consolidated list of most-watched TV channels in Latvia this past March with 10.1 percent of total viewing time, Kantar TNS representatives informed LETA. Thu, 11 Apr 2019 16:40:00 +0300 1554990000 Daugavpils City Council urges ministries to take strict position against planned radioactive waste repository in Visaginas http://www.baltic-course.com/eng/baltic_states/?doc=148538 The city council of the southeastern Latvian city of Daugavpils has called on the Environmental Protection and Regional Development Ministry and the Foreign Ministry to take a strict position against the planned construction of a waste repository for Lithuania's Ignalina nuclear power plant in the city of Visaginas, Daugavpils Mayor Andrejs Elksnins (Harmony) said at a news conference this week, reffered LETA. Thu, 11 Apr 2019 15:40:00 +0300 1554986400 Audited profit of Latvijas Gaze natural gas utility reaches EUR 23.193 mln in 2018 http://www.baltic-course.com/eng/good_for_business/?doc=148529 Latvijas Gaze natural gas utility posted EUR 297.778 mln in net turnover last year, which was by 11.8 % more than in 2017, while the company’s profit was EUR 23.193 mln, the company said in its statement to the Nasdaq Riga stock exchange. Thu, 11 Apr 2019 10:40:00 +0300 1554968400 Latvijas Pasts postal company plans to considerably increase its tariffs http://www.baltic-course.com/eng/markets_and_companies/?doc=148527 Latvijas Pasts postal company has submitted its new tariff project to the Public Utilities Commission (SPRK) that provides for a considerable increase of prices for mailing letters, reported LETA/BNS. Thu, 11 Apr 2019 10:20:00 +0300 1554967200 Bolt launches operation in Sweden http://www.baltic-course.com/eng/good_for_business/?doc=148528 Bolt, the ride-hailing company from Estonia previously known as Taxify, has launched operation in the Swedish capital, reported LETA/BNS. Thu, 11 Apr 2019 10:20:00 +0300 1554967200 Estonian PM's plane turns back to Brussels for technical reasons http://www.baltic-course.com/eng/transport/?doc=148526 The aircraft carrying Estonian Prime Minister Juri Ratas and the delegation accompanying him, who were returning from an extraordinary meeting of the heads of state and government leaders of the European Union in Brussels, had to discontinue its journey back to Estonia for technical reasons and turn back to Brussels, informed LETA/BNS. Thu, 11 Apr 2019 10:10:00 +0300 1554966600 Estonia denies Russian sailing ship Sedov entry into territorial waters http://www.baltic-course.com/eng/baltic_states_cis/?doc=148523 Estonia refused the Russian training vessel Sedov entry into its territorial waters, the embassy of the Russian Federation in Estonia called the decision an unfriendly act, wrote LETA/BNS. Wed, 10 Apr 2019 21:00:00 +0300 1554919200 Rigas Elektromasinbuves Rupnica secures ERDF financing for development of new generation electric engine http://www.baltic-course.com/eng/good_for_business/?doc=148524 Joint-stock motor and generator manufacturing company Rigas Elektromasinbuves Rupnica (RER) has secured European Regional Development Fund's (ERDF) financing for the development of a new generation synchronous relay engine, as the company informed Nasdaq Riga stock exchange. Wed, 10 Apr 2019 20:20:00 +0300 1554916800 Payments by China's UnionPay cards enabled at Swedbank's POS terminals http://www.baltic-course.com/eng/finances/?doc=148522 Swedbank has enabled payments by China’s UnionPay cards at its POS terminals, BC was told at the bank. Wed, 10 Apr 2019 20:10:00 +0300 1554916200 Inventory of Lithuanian-Latvian border to be conducted, markers updated http://www.baltic-course.com/eng/baltic_states/?doc=148521 Preparations are underway to conduct an inventory of the Lithuanian-Latvian state border and update border markers for the first time in almost two decades, reported LETA/BNS. Wed, 10 Apr 2019 19:20:00 +0300 1554913200 Nukem loses EUR 2.5 mln arbitration case against Lithuania's Ignalina N-plant http://www.baltic-course.com/eng/energy/?doc=148520 Lithuania's shutdown Ignalina Nuclear Power Plant (INPP), which has been undergoing decommissioning for almost a decade now, has won an arbitration case against Nukem, a German company controlled by Russia's nuclear energy giant Rosatom, over a technology for handling and storing damaged spent nuclear fuel assemblies, informed LETA/BNS. Wed, 10 Apr 2019 19:00:00 +0300 1554912000 Gazprom raises gas exports to France by 58% in five years http://www.baltic-course.com/eng/energy/?doc=148519 A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Sylvie Bermann, Ambassador Extraordinary and Plenipotentiary of France to the Russian Federation, took place today at the Arctic: Territory of Dialogue 5th International Arctic Forum in St. Petersburg, Particular attention at the meeting was paid to the progress of the Nord Stream 2 project, the company informed. Wed, 10 Apr 2019 18:20:00 +0300 1554909600 Tallinn Airport planning large terminal expansion by 2035 http://www.baltic-course.com/eng/good_for_business/?doc=148505 The Estonian state-owned airport company Tallinn Airport is planning to raise the capacity of its passenger terminal to 8 mдn passengers a year by 2035, while the airport is planning a real traffic of 6 mдn people by that time, reported LETA/BNS. Wed, 10 Apr 2019 14:00:00 +0300 1554894000 Latvian Regional Development Ministry proposes map with 35 local governments http://www.baltic-course.com/eng/baltic_states/?doc=148504 The Environmental Protection and Regional Development Ministry (VARAM) has worked out a new administrative-territorial map of Latvia, cutting the number of local governments to 35 from 119, according to information obtained by LETA. Wed, 10 Apr 2019 13:45:00 +0300 1554893100 KNAB wants charges brought against MP Zakatistovs and businessman Tamuzs for large-scale fraud http://www.baltic-course.com/eng/legislation/?doc=148503 The Corruption Prevention Bureau (KNAB) has turned to the Prosecutor's Office with the request to bring charges against MP Atis Zakatistovs (KPV LV) and businessman Viesturs Tamuzs, according to information obtained by LETA. Wed, 10 Apr 2019 13:20:00 +0300 1554891600 Dagens Nyheter: ECB looking into Swedbank's Estonian operations http://www.baltic-course.com/eng/finances/?doc=148506 The European Central Bank (ECB) is looking into whether the Estonian unit of Swedbank has complied with anti-money laundering rules, public broadcaster ERR reports, citing Swedish newspaper Dagens Nyheter. Wed, 10 Apr 2019 12:00:00 +0300 1554886800 World's largest cyber defense exercise to start in Tallinn http://www.baltic-course.com/eng/forums/?doc=148501 The largest cyber defense exercise in the world, Locked Shields, is to kick off in Tallinn on Wednesday, reported LETA/BNS. Wed, 10 Apr 2019 11:20:00 +0300 1554884400 IMF forecasts fastest growth rate for Latvia among Baltic countries http://www.baltic-course.com/eng/good_for_business/?doc=148502 Latvia's economy will grow at the fastest rate among the Baltic countries, the International Monetary Fund (IMF) forecasts, reported LETA. Wed, 10 Apr 2019 11:20:00 +0300 1554884400 Valio cheeses given halal certificate http://www.baltic-course.com/eng/good_for_business/?doc=148500 After successfully passing an audit, the Voru cheese plant of the Estonian arm of the Finnish dairy company Valio in South Estonia and the cheeses produced there were given a halal certificate with which the production of Valio cheeses and the raw material used for it were deemed compatible with the standards in effect in Islamic countries, informed Manager of the Estonian operation of the Finnish dairy group Valio Maido Solovjov. Wed, 10 Apr 2019 11:10:00 +0300 1554883800 In February, exports was boosted by the wood sector in Estonia http://www.baltic-course.com/eng/analytics/?doc=148490 According to Statistics Estonia, in February 2019, compared to February 2018, the exports of goods increased by 4% and imports by 5%. Exports increased on account of wood and articles of wood and prefabricated wood buildings. Tue, 09 Apr 2019 18:50:00 +0300 1554825000 In February foreign trade turnover of Latvia was 0.4% smaller than a year ago http://www.baltic-course.com/eng/analytics/?doc=148489 Provisional data of the Central Statistical Bureau show that in February 2019 the foreign trade turnover of Latvia amounted to EUR 2.06 bn, which at current prices was 0.4% less than a year ago, of which the exports value of goods was 1% higher, but imports value of goods was 1.7% lower. Tue, 09 Apr 2019 18:20:00 +0300 1554823200 Belarus interested in increasing transit volumes of oil via LDz infrastructure http://www.baltic-course.com/eng/good_for_business/?doc=148488 During a meeting today with Belarus Transport Minister Alexander Avramenko and the president of Latvian Railways (LDz) Edvins Berzins, the minister pointed out that oil processing companies in Belarus are interested in increasing transit volumes of oil and oil products via LDz infrastructure, informed Latvijas dzelzcels. Tue, 09 Apr 2019 17:55:00 +0300 1554821700