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 Mon, 18 Feb 2019 12:41:33 +0200 Baltic Course, The baltic-course@baltic-course.com dmitrijs@mansbirojs.lv Latvia should do everything possible not to be included in Moneyval’s grey list – Luminor http://www.baltic-course.com/eng/finances/?doc=147368 Latvia should do everything possible in order not to get included in the so-called grey list of the Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and the Financing of Terrorism (Moneyval), said Kerli Gabrilovica, the head of the Latvian branch of Luminor Bank, in an interview with LETA. Mon, 18 Feb 2019 11:20:00 +0200 1550481600 Estonia, Latvia would get access to Rail Baltica in Lithuania via exchange – Lithuanian minister http://www.baltic-course.com/eng/transport/?doc=147363 Lithuanian Transport Minister Rokas Masiulis has once again reiterated that Lithuania will not hand over the management of the infrastructure of the European standard gauge railway Rail Baltica to any other state after the railway line, set to link the three Baltic states and Poland, is completed. But, he added, clear rules must be created for carriers from all three Baltic states to have equal rights to use this railway, informed LETA/BNS. Mon, 18 Feb 2019 09:00:00 +0200 1550473200 UP Invest exiting food retail business http://www.baltic-course.com/eng/investments/?doc=147364 UP Invest, holding of Estonian businessman Margus Linnamae, has decided to exit the business of food related retail and will discontinue the operation of the units supporting it, reported LETA/BNS. Mon, 18 Feb 2019 09:00:00 +0200 1550473200 Supervision engineer's selection stalls Ignalina NPP waste repository tender http://www.baltic-course.com/eng/energy/?doc=147365 As the technical supervision tender for the construction of a waste repository for Lithuania's Ignalina nuclear power plant, now undergoing decommissioning, is stalling, the nuclear facility no longer wants to wait and plans to call a tender soon for the contractor of the repository worth around 100 mln euros, informed LETA/BNS. Mon, 18 Feb 2019 09:00:00 +0200 1550473200 Elering pays out EUR 7.5 mln in renewable energy subsidy in January http://www.baltic-course.com/eng/energy/?doc=147366 Estonian transmission system operator (TSO) Elering paid out altogether 7 mln euros in renewable energy support and 420,400 euros in high-efficiency cogeneration support January, and the largest recipients of the subsidy were Eesti Energia group subsidiaries Enefit Green and Nelja Energia, informed LETA/BNS. Mon, 18 Feb 2019 09:00:00 +0200 1550473200 Latvian exports of wooden furniture up 0.3% in 2018 http://www.baltic-course.com/eng/good_for_business/?doc=147367 In 2018, Latvian exports of wooden furniture contracted 0.3% from 2017, with most of the Latvian-made furniture sold in Denmark, according to information released by the Agriculture Ministry writes LETA. Mon, 18 Feb 2019 09:00:00 +0200 1550473200 Estonia: Haapsalu-Noarootsi ice road open for some 3 hrs before being closed due to thaw http://www.baltic-course.com/eng/transport/?doc=147356 The Estonian Road Administration before noon on Friday opened this year's first ice road between the northwestern regional capital of Haapsalu and the Noarootsi peninsula but closed it approximately three hours later due to warm weather and a high traffic load, informed LETA/BNS. Fri, 15 Feb 2019 22:00:00 +0200 1550260800 Unemployment has fallen to almost the same low level as in the economic boom http://www.baltic-course.com/eng/direct_speech/?doc=147360 Unemployment fell in the final quarter of last year to 4.4% in Estonia, which is the same low level as in the economic boom. As the unemployment figure has fallen however, so the indicators for the functioning of the labour market have improved. Fri, 15 Feb 2019 22:00:00 +0200 1550260800 Number of foreign visitors hosted at Latvian tourist accommodation establishments has grown by 8.2% http://www.baltic-course.com/eng/analytics/?doc=147361 Latest data compiled by the Central Statistical Bureau (CSB) show that 2.81 million visitors stayed at Latvian tourist accommodation establishments in 2017, which is 9.0 % more than during 2017. Compared to the previous year, the number of nights spent by visitors increased by 8.4%, reaching 5.37 million. The average length of stay comprised 2 nights. Fri, 15 Feb 2019 22:00:00 +0200 1550260800 Bank of Lithuania: ADB Compensa Vienna Insurance Group fined http://www.baltic-course.com/eng/finances/?doc=147357 After assessing the inspection results of ADB Compensa Vienna Insurance Group, the Board of the Bank of Lithuania imposed it a fine of 20,000 EUR for violations of legal acts and disclosure of misleading information related to its financial condition in the supervisory reporting and financial statements, informed Bank of Lithuania. Fri, 15 Feb 2019 21:30:00 +0200 1550259000 Bank of Lithuania position on virtual assets and initial coin offering reflects changing market realities http://www.baltic-course.com/eng/finances/?doc=147359 Taking into account current market developments and evolving regulatory regimes as well as seeking to ensure a level playing field for all financial market participants, the Board of the Bank of Lithuania has updated its position on virtual assets and initial coin offering. The position is intended for existing and potential financial market participants as well as entities intending to organise initial coin offerings or provide the possibility for Lithuanian investors to invest in this product type. Fri, 15 Feb 2019 21:00:00 +0200 1550257200 Rail freight between Belarus and Latvia grows 29.2% last year http://www.baltic-course.com/eng/good_for_business/?doc=147354 Last year, the total rail freight between Belarus and Latvia reached 30.1 mln tons, which is by 29.2% more than in 2017, Latvijas Dzelzcels railway company’s spokeswoman Ella Petermane reported. Fri, 15 Feb 2019 20:20:00 +0200 1550254800 Zilinskis ir Co to build transformer station in Lithuania's Alytus for EUR 21.6 mln http://www.baltic-course.com/eng/good_for_business/?doc=147353 Zilinskis ir Co, a Lithuanian energy infrastructure builder, has won the tender for the expansion of the transformer station in Alytus, southern Lithuania, a project important for the synchronization of the Baltic states' power systems with that of continental Europe, informed LETA/BNS. Fri, 15 Feb 2019 20:00:00 +0200 1550253600 Bite Latvija will not suspend its partnership with Huawei http://www.baltic-course.com/eng/Technology/?doc=147355 Despite the security scandals involving Chinese technology company Huawei in recent months, Latvian mobile phone operator Bite Latvija will not suspend its partnership with the company and will go forward with its plans to introduce a 5G network with the help of Huawei, Bite Lavija technical director Gints Butens told LETA. Fri, 15 Feb 2019 20:00:00 +0200 1550253600 Talgo to appeal Pasazieru Vilciens’ decision to buy trains from Skoda Vagonka http://www.baltic-course.com/eng/legislation/?doc=147352 Spanish company Patentes Talgo S.L. (Talgo) will appeal the decision of Latvia’s Pasazeru Vilciens rail passenger carrier to purchase the new electric trains from the Czech company Skoda Vagonka, the company informed LETA. Fri, 15 Feb 2019 16:40:00 +0200 1550241600 Pasazieru Vilciens decides to buy trains from Skoda Vagonka after reassessing bids http://www.baltic-course.com/eng/good_for_business/?doc=147351 On reassessing the bids submitted in its train supply tender, Latvia’s Pasazeru Vilciens rail passenger carrier has decided to purchase the electric trains from the Czech company Skoda Vagonka, the company’s CEO Rodzers Grigulis told journalists Friday. Fri, 15 Feb 2019 16:30:00 +0200 1550241000 Industrial production down by 0.9% in euro area http://www.baltic-course.com/eng/analytics/?doc=147350 In December 2018 compared with November 2018, seasonally adjusted industrial production fell by 0.9% in the euro area (EA19) and by 0.5% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In November 2018, industrial production fell by 1.7% in the euro area and by 1.2% in the EU28. Fri, 15 Feb 2019 16:20:00 +0200 1550240400 Number of dairy herds in Latvia drops 10.4% over past year http://www.baltic-course.com/eng/markets_and_companies/?doc=147349 In January 2019 the number of dairy herds in Latvia had dropped by 10.4 percent from January 2018, according to information released by the Agricultural Data Center writes LETA. Fri, 15 Feb 2019 15:20:00 +0200 1550236800 Latvia has highest share of children with unmet needs for dental care in EU http://www.baltic-course.com/eng/analytics/?doc=147348 In the European Union (EU) in 2017, 1.8% of children aged below 16 had medical needs that were not treated. This share was slightly higher for children living in households with one adult (2.2%) compared to those sharing households with two or more adults (1.8%), informed Eurostat. Fri, 15 Feb 2019 15:10:00 +0200 1550236200 O'Leary's operator in Lithuania plans movie theatre, restaurant expansion http://www.baltic-course.com/eng/good_for_business/?doc=147337 Estonia's APL Restaurants, operating the O'Leary's restaurant chain, has set up three new businesses in Lithuania and plans to expand its network of movie theatres, cafes and restaurants, informed LETA/BNS. Fri, 15 Feb 2019 09:20:00 +0200 1550215200 Court sets EUR 200,000 bail for former Rigas Satiksme head Bemhens http://www.baltic-course.com/eng/legislation/?doc=147332 The Riga City Vidzeme District Court today set a bail of EUR 200,000 for Leons Bemhens, the former head of Rigas Satiksme municipal transport company who has been arrested in connection with an ongoing probe into alleged corruption in the company, LETA has learned. Fri, 15 Feb 2019 09:00:00 +0200 1550214000 UK payments firm Earthport sets up unit in Vilnius http://www.baltic-course.com/eng/good_for_business/?doc=147333 Earthport, a UK-based cross-border payments firm that the world's credit card giants Visa and MasterCard are battling for, has registered a company in Lithuania, reported LETA/BNS. Fri, 15 Feb 2019 09:00:00 +0200 1550214000 Survey: Tram link between Ulemiste terminal, Old City Harbor possible already in 2023 http://www.baltic-course.com/eng/transport/?doc=147334 A tram line connecting the still-to-be-built Ulemiste passenger terminal to the southeast of Tallinn's city center with the Old City Harbor could be built for approximately 26 million euros and could be ready at the end of 2023, a study by the French consultancy firm Egis Rail SA suggests, writes LETA/BNS. Fri, 15 Feb 2019 09:00:00 +0200 1550214000 Estonia: An apartment building with 48 apartments with a class A energy label was completed in Saue http://www.baltic-course.com/eng/real_estate/?doc=147335 Nordecon handed over to Estmak Capital OÜ the first apartment building in Saue, at Kuuseheki 50. Project developer Estmak Capital has already handed over the keys to its first customers. The apartment buildings of Kuuseheki residential area are three-storey energy efficient, class A energy-labelled residential buildings. The cost of designing and construction of the residential building at Kuuseheki 50 was 4 mln euros. Nordecon will continue the construction of the house at Kuuseheki 52, which will be completed by the end of November 2019, informed Nordecon representative. Fri, 15 Feb 2019 09:00:00 +0200 1550214000 Researchers in economics awarded €10 and €5 thousand from Bank of Lithuania http://www.baltic-course.com/eng/finances/?doc=147336 The Board of the Bank of Lithuania granted three researchers in economics awards for scientific activities and dissertations in the field of economics. Fri, 15 Feb 2019 09:00:00 +0200 1550214000 Elektrum will start selling natural gas to households in Latvia next week http://www.baltic-course.com/eng/energy/?doc=147331 Latvenergo energy company will start selling natural gas to households under its Elektrum brand starting next week, said Latvenergo board member Uldis Bariss in an interview with commercial LNT television today. Thu, 14 Feb 2019 22:00:00 +0200 1550174400 Labour market indicators in Estonia have improved year-on-year http://www.baltic-course.com/eng/analytics/?doc=147329 According to Statistics Estonia, in 2018, the labour force participation rate was 71.9%, the employment rate was 68.1% and the unemployment rate was 5.4%. The number of long‑term unemployed was the lowest of the last 20 years. Thu, 14 Feb 2019 21:30:00 +0200 1550172600 Maxima Latvija retailer to invest up to EUR 50 mln in development this year http://www.baltic-course.com/eng/good_for_business/?doc=147327 Maxima Latvija retailer in line with Maxima Grupe strategy this year will invest up to EUR 50 million in development of the store network, Maxima Latvija board chairman Andris Vilcmeiers told the press cited LETA. Thu, 14 Feb 2019 21:00:00 +0200 1550170800 Magnetic MRO's bonds admitted to First North market of Nasdaq Baltic http://www.baltic-course.com/eng/transport/?doc=147330 The bonds of Magnetic MRO, an aviation maintenance company headquartered in Estonia, were admitted to trading to the Nasdaq Baltic First North by Nasdaq Tallinn as of Thursday, the stock exchange announced. Thu, 14 Feb 2019 21:00:00 +0200 1550170800 Lithuania to hold May referendum on cutting number of MPs http://www.baltic-course.com/eng/baltic_states/?doc=147325 A referendum on reducing the number of lawmakers to 121 from the existing 141 will be held on May 12 alongside the presidential election in Lithuania, the country's parliament has decided after 58 lawmakers voted in favor on Thursday, 42 were against and two abstained, reported LETA/BNS. Thu, 14 Feb 2019 19:50:00 +0200 1550166600 Nordic Council of Ministers contributes EUR 100,000 to Baltic Culture Fund http://www.baltic-course.com/eng/baltic_states/?doc=147326 The Nordic Council of Ministers gave 100,000 euros to the Baltic Culture Fund for the organization of joint cultural events in other countries, reported LETA/BNS. Thu, 14 Feb 2019 19:50:00 +0200 1550166600 Flywire, Red Dot Payment set up companies in Lithuania http://www.baltic-course.com/eng/good_for_business/?doc=147323 Two international payment companies, the UK's Flywire and Singapore's Red Dot Payment, have registered companies in Vilnius, reported LETA/BNS. Thu, 14 Feb 2019 19:40:00 +0200 1550166000 Estonian Road Administration to open Haapsalu-Noarootsi ice road Friday http://www.baltic-course.com/eng/transport/?doc=147324 The Estonian Road Administration at 11 a.m. on Friday morning is to open an ice road that connects the northwestern regional capital of Haapsalu and the Noarootsi peninsula, which will be the first ice road of this year, informed LETA/BNS. Thu, 14 Feb 2019 19:40:00 +0200 1550166000 Estonian financial authority warns against Golden Circle Capital http://www.baltic-course.com/eng/finances/?doc=147320 The Estonian Financial Supervision Authority warns against provider of investment services Golden Circle Capital, which does not hold a licence to offer said services reffered LETA/BNS. Thu, 14 Feb 2019 19:20:00 +0200 1550164800 Elering signs agreement to launch joint gas market with Finland, Latvia http://www.baltic-course.com/eng/good_for_business/?doc=147321 The Estonian transmission system operator Elering has signed a new voluntary agreement on inter-TSO compensation with the gas transmission system operators in Finland and Latvia, which enables the functioning of a single gas transmission tariff zone for Finland, Estonia and Latvia from the beginning of 2020, Elering said. Thu, 14 Feb 2019 19:20:00 +0200 1550164800 Riga City Council planning to shut down two schools and merge eight http://www.baltic-course.com/eng/education/?doc=147322 The Riga City Council is planning to shut down two schools and merge eight, and the fate of another two schools will be decided in 2020, LETA learned from the municipality. Thu, 14 Feb 2019 19:20:00 +0200 1550164800 Swedish Eastnine purchases offices in S7 office complex in the CBD of Vilnius http://www.baltic-course.com/eng/good_for_business/?doc=147328 Lithuanian real estate development company M.M.M. projektai announced that its controlled company XXT signed an agreement to sell offices in S7 office complexw, S7 representative informed BC. Thu, 14 Feb 2019 18:00:00 +0200 1550160000 WHITE SQUARE gives gifts to all the lovers ... of advertising! http://www.baltic-course.com/eng/forums/?doc=147313 Just during two days, February 14 and 15, each participant who submits 5 or more entries to White Square will be presented a full entry pass to all the events of business, educational and evening programs of the upcoming festival! Thu, 14 Feb 2019 16:50:00 +0200 1550155800 Norwegian Supreme Court bans Latvian trawler from crabbing in Svalbard http://www.baltic-course.com/eng/legislation/?doc=147312 The Supreme Court of Norway has ruled the Latvian trawler Senator and banned it from crabbing in Svalbard, the ship’s owner Peteris Pildegovics informed LETA. Thu, 14 Feb 2019 16:20:00 +0200 1550154000 Kazakhstan augments its potential in terms of investment attractiveness http://www.baltic-course.com/eng/analytics/?doc=147305 In "DoingBusiness" rating upon the criterion of "investment attractiveness" Kazakhstan takes the 36th place (according to 10 indicators) among 190 countries. And today, the Republic provides the most favorable treatment for the investors among all the countries of the former-Soviet region. Thu, 14 Feb 2019 11:45:00 +0200 1550137500 Latvian ports handle 12.7% more cargo in January http://www.baltic-course.com/eng/good_for_business/?doc=147303 Latvian ports handled 5.661 mln tons of cargo in January, which is a 12.7% increase on the same period last year, according to the Transport Ministry's data. Thu, 14 Feb 2019 09:20:00 +0200 1550128800 City of Vilnius takes step toward approving national stadium agreement http://www.baltic-course.com/eng/real_estate/?doc=147302 The City Council of Vilnius gave on Wednesday its preliminary approval to an agreement on the construction of a national stadium in the Lithuanian capital, with a final decision expected to be made in a week's time, informed LETA/BNS. Thu, 14 Feb 2019 09:10:00 +0200 1550128200 Rail freight in Latvia up 3.6% in January http://www.baltic-course.com/eng/good_for_business/?doc=147299 Freight transportation using the Latvian railway infrastructure amounted to 4.207 mln tons in the first month of this year, up 3.6% from the same period in 2018, the data of the Transport Ministry shows. Thu, 14 Feb 2019 09:00:00 +0200 1550127600 Latvian Police arrested EUR 121.3 mln worth of property connected to money laundering last year http://www.baltic-course.com/eng/legislation/?doc=147300 According to information from the State Police, EUR 121.3 mln worth of property was arrested in connection with money laundering activities last year informed LETA/BNS. Thu, 14 Feb 2019 09:00:00 +0200 1550127600 Estonia: Elron's passenger numbers up 3% on year in January http://www.baltic-course.com/eng/good_for_business/?doc=147301 Eesti Liinirongid AS, the state-owned Estonian operator of passenger trains that conducts its business under the Elron brand, registered 649,000 boardings in January, marking a 3% increase compared to the same month last year, informed LETA/BNS, Thu, 14 Feb 2019 09:00:00 +0200 1550127600 SAF Tehnika Group posts EUR 490,000 loss in six months of 2018/2018 FY http://www.baltic-course.com/eng/markets_and_companies/?doc=147297 Latvian telecommunications equipment maker SAF Tehnika closed the first six months of the 2018/2019 financial year with EUR 490,000 in loss, according to the company’s statement to the Nasdaq Riga stock exchange reported LETA. Wed, 13 Feb 2019 18:20:00 +0200 1550074800 Estonia's current account ran EUR 13 mln deficit in December http://www.baltic-course.com/eng/finances/?doc=147298 A flash estimate published by the Bank of Estonia puts the Estonian current account at 13 mln euros in deficit in December 2018, informed Bank of Estonia, Wed, 13 Feb 2019 18:20:00 +0200 1550074800 Apartment prices in Soviet-era houses in Riga up 0.1% in January - association http://www.baltic-course.com/eng/real_estate/?doc=147296 In January this year, apartment prices in Soviet-era standard design houses in Riga's residential neighborhoods rose 0.1% from December 2018, according to the housing market price indicator drawn up by the Latvian Real Estate Association (LANIDA). Wed, 13 Feb 2019 18:00:00 +0200 1550073600 The unemployment rate in Lithuania stood at 6%, in Q4 2018 http://www.baltic-course.com/eng/analytics/?doc=147295 n IV quarter 2018, the unemployment rate stood at 6%. The male unemployment rate stood at 6.4, female – 5.5%. In IV quarter 2018, the youth (persons aged 15–24) unemployment rate stood at 11.1%; and over a quarter, it increased by 1.2 percentage points. Wed, 13 Feb 2019 17:55:00 +0200 1550073300 New Freeport of Riga Development Programme Provides for Expanded Port Operations http://www.baltic-course.com/eng/good_for_business/?doc=147293 At the end of last year, the Board of the Freeport of Riga approved a new port development programme for the upcoming decade.he Development Programme 2019-2028 provides for significantly expanded operations at the Port of Riga, facilitating industrialisation and the entry of new companies into the territory of the Freeport of Riga, informed Freeport of Riga press service. Wed, 13 Feb 2019 17:20:00 +0200 1550071200 Number of flights in Lithuanian airspace rises 3.8% to 19,000 in January http://www.baltic-course.com/eng/good_for_business/?doc=147287 The total number of flights handled in Lithuanian airspace rose by 3.8% in January compared with a year ago to 19,000 flights, Oro Navigacija (Air Navigation) said LETA/BNS. Wed, 13 Feb 2019 16:20:00 +0200 1550067600 20th Vilnius Book Fair will invite guests to watch literary duels http://www.baltic-course.com/eng/forums/?doc=147288 The international Vilnius Book Fair, which marks 20th anniversary this year, will feature a novelty – literary duels between creators and critics, informed LETA/BNS. Wed, 13 Feb 2019 16:20:00 +0200 1550067600 Freeport of Riga raises cargo turnover 2.6% in January http://www.baltic-course.com/eng/good_for_business/?doc=147286 In January 2019, the Freeport of Riga handled 2.842 mln tons of cargo, which is an increase of 2.6% against the same period a year ago, the port informed. Wed, 13 Feb 2019 16:05:00 +0200 1550066700 Baltic fund Livonia Partners buys stake in Estonia's Fenestra window maker http://www.baltic-course.com/eng/good_for_business/?doc=147285 Livonia Partners, a private-capital investment fund operating in the Baltic states, has bought a 60-percent stake in Estonian windows producer Fenestra, in a deal already endorsed by Estonia's competition watchdog, reported LEtA/BNS. Wed, 13 Feb 2019 16:00:00 +0200 1550066400 Estonia to invest EUR 26 mln in Baltic Innovation Fund II http://www.baltic-course.com/eng/good_for_business/?doc=147284 Estonia is to invest 26 mln euros over the next four years in the Baltic Innovation Fund II (BIF II), which in turn aims to invest in early and growth stage Baltic businesses, informed LETA/BNS. Wed, 13 Feb 2019 15:40:00 +0200 1550065200 In 2017, Latvia had the highest share of environmental taxes in EU http://www.baltic-course.com/eng/analytics/?doc=147279 Government revenues from environmental taxes amounted to 369 bn EUR in 2017 in the European Union (EU), compared with 264 bn EUR in 2002. Over the same period, the share of environmental taxes in total government revenues from taxes and social contributions1 decreased from 6.8% in 2002 to 6.1% in 2017. Wed, 13 Feb 2019 14:00:00 +0200 1550059200 Programmer, physiotherapist and pilot the most popular professions among participants of this year's Job Shadow Day http://www.baltic-course.com/eng/education/?doc=147272 Programmer, physiotherapist and pilot have emerged as the most popular professions among Latvia’s schoolchildren participating in this year’s Job Shadow Day, representatives of Junior Achievement Latvia told LETA. Wed, 13 Feb 2019 09:10:00 +0200 1550041800 airBaltic and Ryanair cancel Wednesday flights between Riga and Belgium http://www.baltic-course.com/eng/transport/?doc=147264 Due to a national strike in Belgium, Latvia’s airBaltic carrier and Ireland’s low-costs airline Ryanair have cancelled their flights between Riga and Belgium on Wednesday, according to information released by Riga International Airport. Wed, 13 Feb 2019 09:05:00 +0200 1550041500 LEG receives EUR 9.3 mln paid by Alstom Power as compensation to Lithuania http://www.baltic-course.com/eng/legislation/?doc=147271 The Finance Ministry transferred on Monday around 9.28 mln euros to Lietuvos Energijos Gamyba (Lithuanian Energy Production, or LEG) as compensation for damage caused by Alstom Power, a unit of France's Alstom , informed LETA/BNS. Wed, 13 Feb 2019 09:05:00 +0200 1550041500 BA committees to discuss Baltic gas and electricity markets on Friday http://www.baltic-course.com/eng/energy/?doc=147262 The Baltic Assembly’s (BA) Economic, Energy and Innovation Committee at a joint meeting with the Natural Resources Committee this Friday will address issues concerning the Baltic gas and electricity markets, as well as progress of the Rail Baltica railway project, members of the Saeima Foreign Relations Committee’s Baltic Affairs Subcommittee were told LETA, Wed, 13 Feb 2019 09:00:00 +0200 1550041200 Rimi Baltic retail chain sees turnover grow 2.1% in 2018 http://www.baltic-course.com/eng/good_for_business/?doc=147263 Stores of Rimi Baltic retail chain in the three Baltic states turned over EUR 1.474 billion in 2018, up 2.1 % against 2017, while Rimi Baltic stores in Latvia raised turnover by 3 % to EUR 775.2 mln, according to a report released by the retail chain’s owner, Sweden’s ICA Gruppen writes LETA/BNS. Wed, 13 Feb 2019 09:00:00 +0200 1550041200 Marek Link to become new rector of Estonian Academy of Security Sciences http://www.baltic-course.com/eng/education/?doc=147266 Estonian Minister of the Interior Katrin Raik is to appoint Marek Link as the new rector of the Estonian Academy of Security Sciences, informed LETA/BNS. Wed, 13 Feb 2019 09:00:00 +0200 1550041200 Passenger turnover at Riga International Airport up 5.4% in January http://www.baltic-course.com/eng/good_for_business/?doc=147267 In January of this year, passenger turnover at Riga International Airport reached 467,724, which was 5.4% more when compared to the same period last year, the airport informed. Wed, 13 Feb 2019 09:00:00 +0200 1550041200 Latvian NBA star Porzingis invests in sports injury prevention start-up Zone7 http://www.baltic-course.com/eng/good_for_business/?doc=147258 Latvian NBA star Kristaps Porzingis and former Dutch soccer star Jordi Cruyff have invested in Israeli-American sports injury prevention start-up Zone7, reported LETA/BNS. The start-up has raised a total of USD 2.5 million in seed funding (EUR 2.2 million), according to a statement released by the company on Tuesday. Tue, 12 Feb 2019 21:30:00 +0200 1549999800 Phase II of the LBChain project: Registration for FinTech companies has started http://www.baltic-course.com/eng/finances/?doc=147259 The Bank of Lithuania starts the second stage of the LBChain project. FinTech companies seeking to develop or test a blockchain-based product together with leading experts are invited to apply for participation by 15 February. Tue, 12 Feb 2019 21:30:00 +0200 1549999800 UK citizens residing in Latvia will have register to keep enjoying all their rights after Brexit http://www.baltic-course.com/eng/baltic_states/?doc=147257 UK citizens who are residing in Latvia will have to register so all their current rights remain in place after the UK’s withdrawal from the European Union (EU), according to draft legislation adopted today by the Latvian government writes LETA/BNS. Tue, 12 Feb 2019 20:20:00 +0200 1549995600 Estonian cbank supervisory board picks Madis Muller as candidate for governor http://www.baltic-course.com/eng/finances/?doc=147254 The supervisory board of the Bank of Estonia by a secret vote on Tuesday chose Madis Muller, current deputy governor of the central bank, as candidate for its next governor, spokespeople for the Estonian central bank said. Tue, 12 Feb 2019 19:50:00 +0200 1549993800 Lithuania to look for airlines for business flights to Paris, Munich, transmin says http://www.baltic-course.com/eng/transport/?doc=147255 Lithuania will kook for air companies for business flights from Vilnius to Paris and Munich in 18-24 months with the support of the European Union, Transport Minister Rokas Masiulis says LETA/BNS. Tue, 12 Feb 2019 19:50:00 +0200 1549993800 Treasury of Latvia issues EUR 700 mln worth of 30-year bonds http://www.baltic-course.com/eng/finances/?doc=147252 The Treasury of Latvia on Tuesday issued EUR 700 million worth of 30-year bonds, Treasury spokeswoman Eva Smite-Kregere told LETA. Tue, 12 Feb 2019 19:20:00 +0200 1549992000 Estonia's Tallink may scrap up to 35 jobs in Finland http://www.baltic-course.com/eng/transport/?doc=147256 The Tallink Grupp subsidiary Tallink Silja Oy has started a process for the optimization of its operations, as a result of which 35 jobs at most could be scrapped in Finland, informed LETA/BNS. Tue, 12 Feb 2019 19:20:00 +0200 1549992000 Finnish railway exec Timo Riihimaki appointed CEO of Rail Baltic http://www.baltic-course.com/eng/good_for_business/?doc=147253 Today Supervisory Board of RB Rail AS appointed Timo Riihimäki as Chief Executive Officer and Chairperson of the Management Board of the Rail Baltica Joint Venture. He will start his duties from 11 March 2019 and will be based in Riga, spokesperson for RB Rail AS said. Tue, 12 Feb 2019 19:00:00 +0200 1549990800 Digital agenda and e-trade: perspectives for business in the Baltic States http://www.baltic-course.com/eng/modern_eu/?doc=147215 European digital single market has opened additional opportunities for corporate activity in the Baltic States. Recently, the two EU legislative institutions, i.e. the European Parliament and the Council of Ministers reached an agreement on the online sales of goods and supply of digital content and services. Tue, 12 Feb 2019 17:25:00 +0200 1549985100 Estonia: Cleveron, Itella working together in parcel delivery http://www.baltic-course.com/eng/good_for_business/?doc=147247 Starting from February, couriers of the logistics company Itella Smartpost delivering parcels to clients can leave domestic and international parcels alike at Cleveron's home parcel stations and apartment house parcel stations, where they will be collected by the client, reported LETA/BNS. Tue, 12 Feb 2019 13:45:00 +0200 1549971900 The first 18 startups financed by the ALTUM accelerator programs graduate Most promising teams will qualify for 250 thousand euro investment http://www.baltic-course.com/eng/good_for_business/?doc=147248 Three accelerators backed by the Development Finance Institution ALTUM, started in autumn, have successfully completed their first startup batches. The accelerators, Overkill Ventures, Buildit Latvia and Commercialization Reactor Fund, provided acceleration services to the 18 most promising local and international startups selected from over 600 applications, informed ALTUM representative, Tue, 12 Feb 2019 13:45:00 +0200 1549971900 Latvia and Lithuania in TOP 5 EU Member States, the majority of scientists and engineers were women http://www.baltic-course.com/eng/analytics/?doc=147244 In 2017, of almost 18 million scientists and engineers in the EU, 59% were men and 41% women, infotmed Eurostat. Tue, 12 Feb 2019 12:00:00 +0200 1549965600 Lithuanian Energy looking for partners for offshore wind farm projects http://www.baltic-course.com/eng/energy/?doc=147260 Lietuvos Energija, one of the largest state-owned energy companies in the Baltic States, announces international search for a strategic partner to develop offshore wind energy projects. Lithuanian company has initiated an Expression of Interest (EOI) process to select an experienced partner for the development of projects in the European Economic Area, Dominykas Tuckus, a board member at Lietuvos Energija, said in a statement. Tue, 12 Feb 2019 12:00:00 +0200 1549965600 Ineco-Ardanuy bags EUR 322,000 contract to do Rail Baltica energy system study http://www.baltic-course.com/eng/good_for_business/?doc=147239 Spanish consortium Ineco-Ardanuy has won a contract, worth 322,000 euros, not including VAT, to carry out a study for the development of an energy subsystem procurement and deployment strategy for the European-gauge railway project Rail Baltica, RB Rails said in press release. Tue, 12 Feb 2019 09:10:00 +0200 1549955400 Minister: Tallinn-Helsinki tunnel a project of natl importance http://www.baltic-course.com/eng/transport/?doc=147232 Estonia's Minister of Economic Affairs and Infrastructure Kadri Simson on Monday described the project for a railway tunnel between Tallinn and Helsinki as a project of national importance for Estonia, informed LETA/BNS. Tue, 12 Feb 2019 09:00:00 +0200 1549954800 Grocer Rimi's FY sales in Lithuania rise 3.6% http://www.baltic-course.com/eng/good_for_business/?doc=147233 Rimi Lietuva, one of Lithuania's biggest grocery chains, increased its sales by 3.6% last year compared with 2017 to 324.5 mln euros, not including VAT, informed LETA/BNS. Tue, 12 Feb 2019 09:00:00 +0200 1549954800 Swedbank: Lower oil prices to cut into Estonia's exports http://www.baltic-course.com/eng/analytics/?doc=147238 The price of oil is set to decline substantially this year, which will reduce the export turnover of mineral fuels with a certain delay, Swedbank said LETA/BNS. Tue, 12 Feb 2019 09:00:00 +0200 1549954800 In 2018, Estonian foreign trade increased http://www.baltic-course.com/eng/good_for_business/?doc=147236 According to Statistics Estonia, in 2018, the exports of goods increased by 12% and imports by 10% compared to 2017. The exports and imports of mineral products had the greatest impact on trade growth in 2018. Tue, 12 Feb 2019 09:00:00 +0200 1549954800 In 2018, the number of tourists in accommodation establishments in Estonia increased http://www.baltic-course.com/eng/analytics/?doc=147235 According to Statistics Estonia, 3.6 million domestic and foreign tourists stayed in the accommodation establishments of Estonia in 2018, i.e. 1% more than in 2017. The number of domestic tourists increased and the number of foreign tourists decreased. Tue, 12 Feb 2019 09:00:00 +0200 1549954800 In 2018, construction output in Latvia grew by 21.9% http://www.baltic-course.com/eng/good_for_business/?doc=147237 he latest data compiled by the Central Statistical Bureau (CSB) show that, compared to 2017, in 2018 construction output1 increased by 21.9% (according to calendar adjusted data at constant prices). Construction output rise was observed in all sectors – construction of buildings (of 25.6%), civil engineering (11.6%), and specialised construction activities (27.8%). Tue, 12 Feb 2019 09:00:00 +0200 1549954800 Lithuania's payment co Paysera launches operations in Estonia http://www.baltic-course.com/eng/finances/?doc=147223 Lithuanian-owned payment services company Paysera is starting operations in Estonia after opening a customer service center in Tallinn, with plans to launch a sales unit in the spring, reported LETA/BNS. Mon, 11 Feb 2019 21:00:00 +0200 1549911600 Tele2 Estonia loses almost 13,000 mobile numbers in 2018 http://www.baltic-course.com/eng/Technology/?doc=147224 Mobile operator Tele2 lost the biggest number of phone numbers to other operators in Estonia last year, as 12,940 numbers left its network for the network of some other operator during the 12 months, reported LETA/BNS. Mon, 11 Feb 2019 21:00:00 +0200 1549911600 Prosecutor's office in 2018 closed criminal tax on tax evasion against Vaskevics http://www.baltic-course.com/eng/legislation/?doc=147225 The prosecutor's office last year closed a criminal case on tax evasion against former State Revenue Service official Vladimirs Vaskevics, informed LETA/BNS. Mon, 11 Feb 2019 21:00:00 +0200 1549911600 During the year, the average level of consumer prices in Latvia increased by 3.0% http://www.baltic-course.com/eng/analytics/?doc=147226 The latest data of the Central Statistical Bureau (CSB) show that in January 2019, compared to January 2018, the average level of consumer prices* rose by 3.0%. Prices of goods increased by 3.0% and prices of services by 3.2%. Mon, 11 Feb 2019 21:00:00 +0200 1549911600 Rigas Piensaimnieks dairy plans to invest EUR 1.004 million in specialized transport http://www.baltic-course.com/eng/good_for_business/?doc=147222 igas Piensaimnieks dairy company, which is a part of Food Union group, plans to invest EUR 1.004 mln in specialized cargo transport with refrigerators, according to the information published on the internet website of Procurement Supervision Bureau writes LETA. Mon, 11 Feb 2019 20:00:00 +0200 1549908000 Lithuanian insurers demonstrate highest customer service quality in Baltics – study http://www.baltic-course.com/eng/finances/?doc=147221 Lithuanian insurance companies have demonstrated the highest customer service quality in the Baltic states, said Ilze Paozole, a representative of Dive Latvija customer service improvement company Mon, 11 Feb 2019 19:40:00 +0200 1549906800 Riga Retail Park plans to build new mall next to IKEA http://www.baltic-course.com/eng/good_for_business/?doc=147218 Company Riga Retail Park is planning to build a new gardening and home improvement store of 60,000 square meters in area next to the IKEA mall on the outskirts of Riga, in Stopini Region's Dreilini Village, according to information posted on Stopini Region's website writes LETA/BNS. Mon, 11 Feb 2019 19:00:00 +0200 1549904400 Reconstruction of Latvian-Russian border crossing Terehova to begin in April http://www.baltic-course.com/eng/good_for_business/?doc=147214 Valsts Nekustamie Ipasumi (VNI, Public Properties), the state-owned company managing Latvia’s public properties, has awarded Monum company a contract for the reconstruction and modernization of the Latvian-Russian border crossing Terehova, with construction works scheduled to begin in April, VNI CEO Ronalds Neimanis told LETA. Mon, 11 Feb 2019 12:30:00 +0200 1549881000 Estonian PM expresses hope direct flights between Tallinn, Dubai will start soon http://www.baltic-course.com/eng/transport/?doc=147208 Speaking in Dubai on Sunday, Estonian Prime Minister Juri Ratas expressed hope that it will soon be possible to fly from Tallinn to Dubai without changing planes, informed LETA/BNS. Mon, 11 Feb 2019 12:00:00 +0200 1549879200 Number of air passengers on Tartu-Helsinki route drops 12% on year http://www.baltic-course.com/eng/good_for_business/?doc=147209 A total of 1,871 passengers flew on the Tartu-Helsinki route in January, 12.1%t less than in January 2017, reported LETA/BNS. Mon, 11 Feb 2019 11:45:00 +0200 1549878300 Fitch affirms Lithuania's credit rating at A- http://www.baltic-course.com/eng/good_for_business/?doc=147207 Fitch Ratings has affirmed Lithuania's long-term foreign-currency issuer default rating (IDR) at "A-" with a positive outlook after positively assessing Lithuania's public finance and economic situation, informed LETA/BNS. Mon, 11 Feb 2019 09:20:00 +0200 1549869600 Classical conductor Andris Nelsons wins two more Grammys http://www.baltic-course.com/eng/good_for_business/?doc=147204 Latvian classical conductor Andris Nelsons together with the Boston Symphony Orchestra received Grammy Awards in two categories at the annual awards ceremony in Los Angeles, US, last Sunday, according to information posted on Grammy Awards’ official website writes LETA. Mon, 11 Feb 2019 09:10:00 +0200 1549869000 Estonian travel agency: Turkey tops list of preferences among Tourest visitors http://www.baltic-course.com/eng/tourism/?doc=147201 Sales numbers at Tourest, the largest travel trade fair in the Baltic states, which kicked off on Friday, indicate that Turkey is the most popular travel destination among Estonians, accounting for as much as a third of all package holidays sold at the fair so far, travel agency Go Travel said LETA/BNS. Mon, 11 Feb 2019 09:00:00 +0200 1549868400 Estonia's Sildaru takes halfpipe gold at World Championships in Utah http://www.baltic-course.com/eng/good_for_business/?doc=147200 Estonian Kelly Sildaru became the youngest halfpipe world champion of all time by clinching gold at the 2019 FIS Snowboard, Freestyle and Freeski World Championships in Utah on Saturday, informed LETA/BNS. Mon, 11 Feb 2019 09:00:00 +0200 1549868400 Rigas Satiksme corruption case suspect Volkinsteins released on EUR 100,000 bail -TV http://www.baltic-course.com/eng/legislation/?doc=147202 Igors Volkinsteins, the former director of Rigas Satiksme municipal transport company’s infrastructure maintenance and development department who had been detained as part of the company’s corruption case, has been released on EUR 100,000 bail, Latvian Television reported on Sunday night, referred LETA. Mon, 11 Feb 2019 09:00:00 +0200 1549868400 U.S. sends additional helicopters to Latvia as part of next rotation of troops http://www.baltic-course.com/eng/markets_and_companies/?doc=147203 As part of its Atlantic Resolve mission, the United States has sent 13 helicopters to Latvia to help strengthen regional security and maintain a U.S. presence in the region, LETA was informed by the Defense Ministry. Mon, 11 Feb 2019 09:00:00 +0200 1549868400 Lithuania's Icor ploughs EUR 15 mln into meter production, to invest another EUR 20 mln http://www.baltic-course.com/eng/good_for_business/?doc=147194 Axioma Metering, a company of the Icor Group, opened a 15-mln-euro water and heat metering device production facility in the Kaunas free economic area on Friday, with plans to invest another 20 mln euros in a second factory n an adjacent site within three years, informed LETA/BNS. Fri, 08 Feb 2019 15:40:00 +0200 1549633200