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 Wed, 15 Aug 2018 23:50:25 +0300 Baltic Course, The baltic-course@baltic-course.com dmitrijs@mansbirojs.lv Baltic Horizon Fund completed the acquisition of LNK Centre office building located in Riga http://www.baltic-course.com/eng/good_for_business/?doc=142390 Northern Horizon Capital AS as the management company of Baltic Horizon Fund (the Fund) informs of completing the acquisition of the LNK Centre office building located in Riga, Latvia, announced to the market on the 4th of July 2018. Wed, 15 Aug 2018 20:20:00 +0300 1534353600 Estonian EOD specialists helping train colleagues in Ukraine http://www.baltic-course.com/eng/education/?doc=142392 Explosive ordnance disposal (EOD) experts from the EOD center of the Estonian Rescue Board have embarked on a visit to Ukraine to share their experiences and help develop the area-specific training system at the Lviv State University of Life Safety, informed LETA/BNS. Wed, 15 Aug 2018 19:20:00 +0300 1534350000 There are risks in Brexit talks, but compromises should be reached – Rinkevics http://www.baltic-course.com/eng/baltic_states/?doc=142391 The EU and the UK should be able to find compromises in Brexit talks, said Latvian Foreign Minister Edgars Rinkevics (Unity) after his meeting with UK’s Secretary of State for Foreign and Commonwealth Affairs, Jeremy Hunt, informed LETA/BNS. Wed, 15 Aug 2018 19:00:00 +0300 1534348800 Owner of Zara fashion stores in Latvia raises sales 8.7% in 2017 http://www.baltic-course.com/eng/good_for_business/?doc=142393 Apranga LV, the Lithuanian-controlled owner of Zara fashion stores in Latvia, closed 2017 with higher turnover and profit, according to Firmas.lv business database, informed LETA. Wed, 15 Aug 2018 19:00:00 +0300 1534348800 Latvijas Banka is issuing a collector coin dedicated to Curonian kings http://www.baltic-course.com/eng/finances/?doc=142381 The Bank of Latvia on Friday is issuing a new silver collector coin dedicated to the Curonian Kings, a cultural group of free Latvian peasants that for many centuries inhabited seven villages in western Latvia, the central bank informed. Wed, 15 Aug 2018 18:00:00 +0300 1534345200 World Cleanup Day emerging as biggest civil action initiated by Estonian http://www.baltic-course.com/eng/good_for_business/?doc=142382 The World Cleanup Day taking place on Sept. 15 this year is the biggest civil action organized by Estonians ever, members of the organizing team said LETA. Wed, 15 Aug 2018 18:00:00 +0300 1534345200 Ukraine court arrests Latvian millionaire Melniks' assets http://www.baltic-course.com/eng/legislation/?doc=142380 A court in the Ukrainian capital Kyiv has granted the prosecutor general’s request to freeze Latvian millionaire Vasilijs Melniks’ assets, according to Ukrainian media reports. Wed, 15 Aug 2018 17:55:00 +0300 1534344900 Estonia's illicit cigarette market moving to southern border towns - study http://www.baltic-course.com/eng/analytics/?doc=142379 The smoking of counterfeited and illicit cigarettes was on a slight upward trend in Estonia in the second quarter of this year, and as a result of cross-border trade the market for cigarettes not bearing Estonian tax stamps is concentrating in towns near the country's southern border from the northeast, it appears from an empty pack survey conducted by market research company Nielsen, cited LETA/BNS. Wed, 15 Aug 2018 17:25:00 +0300 1534343100 Bank of Lithuania curbs ill-founded application of credit borrowing rates http://www.baltic-course.com/eng/finances/?doc=142378 The Supervision Service of the Bank of Lithuania has carried out an investigation of the consumer credit market and identified that, in breach of existing legal acts, four companies calculated interest rates fixed in consumer credit agreements inappropriately, Bank of Lithuania informed. Wed, 15 Aug 2018 17:20:00 +0300 1534342800 Tallink's core owner Infortar selles Pirita Spa Hotel http://www.baltic-course.com/eng/good_for_business/?doc=142376 Investment company Infortar, the core owner of the listed Estonian shipper Tallink Grupp, has sold Pirita Spa Hotel in Tallinn and in connection with that, Tallink's subsidiary OU TLG Hotell will end its operations on Nov. 15, infomed LETA/BNS. Wed, 15 Aug 2018 14:50:00 +0300 1534333800 In the 2Q of 2018, Latvian unemployment rate fell to 7.7% http://www.baltic-course.com/eng/analytics/?doc=142377 Results of the Labour Force Survey conducted by the Central Statistical Bureau (CSB) show that in the 2nd quarter of 2018 Latvian unemployment rate constituted 7.7%. Compared to the previous quarter, unemployment rate fell by 0.5 percentage points, while over the year it dropped by 1.2 percentage points. Wed, 15 Aug 2018 14:50:00 +0300 1534333800 Amount of fresh milk supplied by Latvian dairy farmers down 8.16% in July http://www.baltic-course.com/eng/markets_and_companies/?doc=142375 The amount of fresh milk supplied by Latvian dairy farmers in July this year dropped 8.16% from the same period of last year to 72,820 tons, according to the information from the Latvian Agricultural Data Center writes LETA. Wed, 15 Aug 2018 14:40:00 +0300 1534333200 Outgoing head of CCD COE to take up job at Estonian cyber firm http://www.baltic-course.com/eng/Technology/?doc=142371 Merle Maigre, head of the NATO Cooperative Cyber Defense Center of Excellence (CCD COE), is about to start working at the Estonian exporter of cyber solutions CybExer Technologies beginning September, informed LETA/BNS. Wed, 15 Aug 2018 14:20:00 +0300 1534332000 NAV of Baltic Horizon unit up 0.72% in July http://www.baltic-course.com/eng/finances/?doc=142372 Net asset value (NAV) of the commercial real estate fund Baltic Horizon Fund as at the end of July 2018 was 1.391 euros per unit, 0.72% higher compared to the previous month. Wed, 15 Aug 2018 14:20:00 +0300 1534332000 Estonia and Finland started common development of X-Road software core http://www.baltic-course.com/eng/good_for_business/?doc=142373 The Nordic Institute for Interoperability Solutions (NIIS) has started its first agile development sprint of X-Road software core. The development by NIIS was kicked off on 7th August when the first sprint officially started. Wed, 15 Aug 2018 14:20:00 +0300 1534332000 In the 2Q of 2018, 64.4% of population in Latvia were employed http://www.baltic-course.com/eng/analytics/?doc=142374 Results of the Labour Force Survey conducted by the Central Statistical Bureau (CSB) show that 909.6 thousand people or 64.4% of Latvia population aged 15–74 (incl.) were employed in the 2nd quarter of 2018. Over the year, employment rate grew by 1.8 percentage points and number of employed persons by 17.9 thousand. Compared to the previous quarter, employment rate grew by 0.9 percentage points and number of employed persons by 11.6 thousand. Wed, 15 Aug 2018 14:20:00 +0300 1534332000 H1 loss of Tallinna Sadam totals EUR 2.3 mln due to dividends http://www.baltic-course.com/eng/transport/?doc=142357 The sales as well as the volume of cargo handled and the number of passengers served by the listed Estonian port company Tallinna Sadam (Port of Tallinn) grew in the second quarter and in the first half-year, while net loss totaled 2.3 mln euros due to the income tax expense on the record high dividend amount. Wed, 15 Aug 2018 10:40:00 +0300 1534318800 Elering signs agreements worth 60 mln euros for building Balticconnector compressor stations http://www.baltic-course.com/eng/good_for_business/?doc=142356 On Tuesday, Elering entered into contracts worth approximately 60 mln euros for the construction of the Paldiski compressor station serving the Estonia-Finland Balticconnector gas link and the Puiatu compressor station serving the Estonia-Latvia connection, Elering representative informed BC. Wed, 15 Aug 2018 10:20:00 +0300 1534317600 Riga Circus hopes to reopen for public in September http://www.baltic-course.com/eng/good_for_business/?doc=142354 Renovation of the Riga Circus facade is complete and the circus is hoping to host the tenth contemporary art festival Survival Kit in September, the Riga Circus board member Inara Kehre told a press conference, citing LETA. Wed, 15 Aug 2018 10:10:00 +0300 1534317000 Estonia's environment minister calls on colleagues to support world cleanup day http://www.baltic-course.com/eng/markets_and_companies/?doc=142355 Estonia's Minister of the Environment Siim Kiisler has sent a letter to his colleagues all over the world in his capacity as the president of the fourth session of the United Nations Environment Assembly, urging them to support the World Cleanup Day taking place on Sept. 15 this year and invite residents in their respective countries to take part in it, informed LETA/BNS. Wed, 15 Aug 2018 10:10:00 +0300 1534317000 Latvia should consider fiscal reserve in 2019 budget instead of raising wages in public sector – Reizniece-Ozola http://www.baltic-course.com/eng/finances/?doc=142351 Latvia should consider fiscal reserve in the 2019 budget instead of raising wages in the public sector, Finance Minister Dana Reizniece-Ozola said LETA. Wed, 15 Aug 2018 09:50:00 +0300 1534315800 The labour market remains favourable for employees – Estonian cbank http://www.baltic-course.com/eng/analytics/?doc=142350 The Estonian labour force survey shows that the number of people in employment was 2% higher in the second quarter of 2018 than a year earlier and the unemployment rate was 5.1%. Both labour market participation and the employment rate remain close to their historical peaks. Tue, 14 Aug 2018 19:20:00 +0300 1534263600 Lithuanian Railways to take Orlen Lietuva's cargo to Poland http://www.baltic-course.com/eng/transport/?doc=142349 Lithuania's state-run railway company Lietuvos Gelezinkeliai (Lithuanian Railways) will take cargo of Orlen Lietuva, the oil processing company in Lithuania, owned by Poland's Orlen, to Poland, informs LETA/BNS. Tue, 14 Aug 2018 19:05:00 +0300 1534262700 Bank of Lithuania to look into additional info on VIA SMS Group http://www.baltic-course.com/eng/legislation/?doc=142348 The Bank of Lithuania will analyze additional information on VIA SMS Group after Arvydas Anusauskas, a member of the Lithuanian parliamentary Committee on National Security and Defense, representing the opposition conservative Homeland Union – Lithuanian Christian Democrats, said earlier the Latvian-capital business group VIA SMS Group in Lithuania includes people who have direct ties with the owners of the collapsed Parex bank, informs LETA/BNS. Tue, 14 Aug 2018 18:55:00 +0300 1534262100 Estonian Nordica's subsidiary Regional Jet to start operating on Sweden's domestic route http://www.baltic-course.com/eng/good_for_business/?doc=142347 Regional Jet OU, a subsidiary of Nordic Aviation Group AS, the Estonian state-owned airline company which conducts its business under the Nordica brand, won the contract to provide service on the Swedish domestic Gallivare-Arvidsjaur route, informs LETA/BNS. Tue, 14 Aug 2018 18:50:00 +0300 1534261800 Temporary and part-time jobs on the rise in the EU http://www.baltic-course.com/eng/good_for_business/?doc=142339 According to Eurostat data, the possibility of finding a permanent job decreased slightly between 2002 and 2017, as the share of temporary employees in the EU increased from 11% in 2002 to 13% in 2017. Tue, 14 Aug 2018 16:59:00 +0300 1534255140 In euro area industrial production down by 0.7% in June 2018 http://www.baltic-course.com/eng/analytics/?doc=142338 In June 2018 compared with May 2018, seasonally adjusted industrial production fell by 0.7% in the euro area (EA19) and by 0.4% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. Tue, 14 Aug 2018 16:40:00 +0300 1534254000 GDP up by 0.4% in both euro area and EU28 http://www.baltic-course.com/eng/analytics/?doc=142337 Seasonally adjusted GDP rose by 0.4% in both the euro area (EA19) and the EU28 during the second quarter of 2018, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union. Tue, 14 Aug 2018 16:05:00 +0300 1534251900 Lottery and gambling turnover increases 11.5% in Latvia http://www.baltic-course.com/eng/markets_and_companies/?doc=142330 Latvian lottery and gambling companies' revenue from gambling rose 11.5% in the first half of 2018, amounting to EUR 126.401 mln, informs LETA referring to the Lotteries and Gambling Supervisory Inspection of Latvia. Tue, 14 Aug 2018 15:05:00 +0300 1534248300 Latvian banks have successfully completed work on risk reduction measures - association http://www.baltic-course.com/eng/good_for_business/?doc=142329 Latvian banks have successfully completed work on risk reduction measures, informs LETA referring to Sanda Liepina, chairperson of the Finance Latvia Association. Tue, 14 Aug 2018 14:59:00 +0300 1534247940 NEO GROUP earned EUR 14.5 mln in 2017 http://www.baltic-course.com/eng/markets_and_companies/?doc=142328 NEO GROUP, a producer of polyethylene terephthalate (PET) granules, located in Klaipeda Free Economic Zone (FEZ) and indirectly owned by Ukrainian businessman Anatoliy Martynov, posted 14.516 mln euros in net profits last year, down 3.8% from 15.085 mln euros in 2016, informs LETA/BNS. Tue, 14 Aug 2018 14:50:00 +0300 1534247400 Skonto Plan Ltd construction materials maker raises turnover 60.7% in 2017 http://www.baltic-course.com/eng/markets_and_companies/?doc=142327 Latvia's Skonto Plan Ltd, a manufacturer of aluminum and plastic structures, turned over EUR 32.374 mln in 2017, which was a 60.7% increase against a year before, and made a profit of EUR 1.482 mln, recovering from a loss incurred in 2016, informs LETA. Tue, 14 Aug 2018 13:55:00 +0300 1534244100 Unemployment decreased rapidly in Estonia http://www.baltic-course.com/eng/good_for_business/?doc=142326 According to Statistics Estonia, in the 2nd quarter of 2018, the unemployment rate was 5.1%, the employment rate 68.2% and the labour force participation rate 71.9%. The unemployment rate was the lowest in a decade. Tue, 14 Aug 2018 13:50:00 +0300 1534243800 Latvia's Venden spring water supplier aims to raise turnover by 20% in 2018 http://www.baltic-course.com/eng/markets_and_companies/?doc=142323 Latvia’s Venden spring water supplier this year aims to raise its turnover by 20% against 2017, informs LETA referring to the company’s CEO Aldis. Tue, 14 Aug 2018 13:40:00 +0300 1534243200 LHV Group nets EUR 2.4 mln in July http://www.baltic-course.com/eng/finances/?doc=142324 Consolidated net profit of the listed Estonian banking group AS LHV Group totaled 2.4 mln euros in July, informs LETA/BNS. Tue, 14 Aug 2018 13:40:00 +0300 1534243200 RTU and Olaine Mechanics and Technology College reach merger agreement http://www.baltic-course.com/eng/education/?doc=142325 Olaine Mechanics and Technology College (OMTK) will be merged with Riga Technical University (RTU) under an agreement reached between the two education institutions, informs LETA referring to the RTU vice-rector for development Arturs Zeps. Tue, 14 Aug 2018 13:40:00 +0300 1534243200 Lithuania's Modus Group to invest EUR 30 miln into solar power park in Ukraine http://www.baltic-course.com/eng/good_for_business/?doc=142322 Lithuania's Modus Group, uniting companies engaged in car trade, real estate and energy, is investing 30 million euros into a new solar power park in Ukraine. Tue, 14 Aug 2018 13:25:00 +0300 1534242300 Danske Bank to renounce part of business clients in Lithuania http://www.baltic-course.com/eng/finances/?doc=142321 The Lithuanian branch of Danske Bank, the second largest financial group in North Europe in terms of assets, will renounce part of its business clients by the end of October and will continue working with the group's international clients, informs LETA/BNS. Tue, 14 Aug 2018 13:20:00 +0300 1534242000 Estonia wants to create common packaging deposit system with Latvia – Eco Baltia http://www.baltic-course.com/eng/markets_and_companies/?doc=142320 Estonia wants to create a common packaging deposit system with Latvia because part of the bottles that are bought in Latvia end up in Estonian reverse vending machines, causing losses to the system’s administrators, informs LETA referring to Maris Simanovics, a co-owner and CEO of Latvia’s Eco Baltia waste management group. Tue, 14 Aug 2018 13:15:00 +0300 1534241700 Parnu keen to vie for status of European capital of culture with Tartu, Viljandi http://www.baltic-course.com/eng/good_for_business/?doc=142319 The government of the southwestern Estonian resort city Parnu has made a proposal to the council that the city vie for the status of European Capital of Culture 2024 together with Tartu and Viljandi to jointly highlight local culture, informs LETA/BNS. Tue, 14 Aug 2018 12:59:00 +0300 1534240740 Baltic International Bank has for the first time in Latvia immortalised the works of the Latvian artist on its payment cards http://www.baltic-course.com/eng/finances/?doc=142317 Baltic International Bank has issued new, exclusive payment cards having become the first bank in Latvia whose credit cards feature fragments of works by the famous Latvian artist and stage designer Ilmārs Blumbergs. Tue, 14 Aug 2018 11:30:00 +0300 1534235400 Rail Baltica will essentially affect the construction market - experts http://www.baltic-course.com/eng/good_for_business/?doc=142314 As a gigantic infrastructure project, Rail Baltica will essentially affect the Baltic construction market. It will attract major international contractors to the region, because of labour force shortage may bring back migrated workers from other countries and material recycling should be explored to save natural resources, the speakers in the Opinion Festival’s Baltic construction panel said. In the same, Tallinn – Helsinki tunnel would be a natural prolongation of Rail Baltica. Tue, 14 Aug 2018 10:40:00 +0300 1534232400 Israel's Nayax opens its branch in Lithuania http://www.baltic-course.com/eng/good_for_business/?doc=142303 Izrael's Nayax, a global leader of cashless payment solutions and management platform for unattended retail, has been issued a Payment Institution (PI) license from the Board of the Bank of Lithuania. With the changes in PSD2, and issuance of the Payment Institution license, Nayax will continue to provide money remittance services to customers in the EEA (European Economic Area) zone. Mon, 13 Aug 2018 17:50:00 +0300 1534171800 Construction output in Latvia grew by 31.6% in the 2nd quarter of 2018 http://www.baltic-course.com/eng/analytics/?doc=142302 The latest data compiled by the Central Statistical Bureau (CSB) of Latvia show that, compared to the 2nd quarter of 2017, in the 2nd quarter of 2018 construction output increased by 31.6% (according to calendar adjusted data at constant prices). Mon, 13 Aug 2018 17:35:00 +0300 1534170900 Estonia hoping to get online doctor appointment system working in 2019 http://www.baltic-course.com/eng/good_for_business/?doc=142301 After failure to get the initial version of the nationwide online doctor appointment system working properly, the Estonian Health Insurance Fund hopes to have the new system functional next year and is planning to adopt a method with sticks and carrots to overcome the defiance of hospitals, informs LETA/BNS/Postimees. Mon, 13 Aug 2018 17:05:00 +0300 1534169100 Merger of LMT and Lattelecom is inevitable in future – Baltcom http://www.baltic-course.com/eng/Technology/?doc=142300 In the future, the merger of mobile operator Latvijas Mobilais Telefons (LMT) and telecommunication company Lattelecom is inevitable, informs LETA referring to Nicolas Boissin, the head of the Latvian cable operator Baltcom. Mon, 13 Aug 2018 16:40:00 +0300 1534167600 Inflation behind rise in people living below poverty line in Lithuania – expert http://www.baltic-course.com/eng/analytics/?doc=142298 Inflation and related growth in living standards were behind a rise in people living below the at-risk-of-poverty threshold in Lithuania last year, informs LETA/BNS referring to the economist Gitanas Nauseda, an adviser to the SEB bank's president. Mon, 13 Aug 2018 16:30:00 +0300 1534167000 Wess Motors Toyota car dealer raises sales by 17% in H1 http://www.baltic-course.com/eng/markets_and_companies/?doc=142299 In the first half of 2018, Latvia’s Wess Motors Toyota car dealer raised sales by more than 17% against the same period a year ago, informs LETA referring to the Wess representatives. Mon, 13 Aug 2018 16:30:00 +0300 1534167000 Builders hard to find in Estonia for smaller projects – 1Partner http://www.baltic-course.com/eng/real_estate/?doc=142297 Builders in Estonia are busy working on bigger projects and it is very difficult to find workforce for smaller projects, for example, for renovating an apartment, informs LETA/BNS referring to Kristjan Vahter, managing director of the real estate agency 1Partner Kinnisvara. Mon, 13 Aug 2018 16:20:00 +0300 1534166400 Wind energy brings electricity price down in Lithuania – Litgrid http://www.baltic-course.com/eng/energy/?doc=142296 The price of electricity remains fairly high in Lithuania, despite dropping 7% on average last week as the production of wind energy nearly doubles in the Nordic countries, Lithuania, Latvia and Poland, informs LETA referring to the power transmission operator Litgrid. Mon, 13 Aug 2018 16:15:00 +0300 1534166100 By 2030, China will be 1.9 times larger than the USA and India in terms of GDP at PPP – Euromonitor International http://www.baltic-course.com/eng/analytics/?doc=142294 Euromonitor International, the world’s leading provider of strategic market research and data analysis, has recently released a report “Why Economy, Finance and Trade Insights Matter for Business Strategy” on changing global economic landscape. Mon, 13 Aug 2018 13:40:00 +0300 1534156800 Estonia faced with EU fine for non-compliance with wastewater treatment rules http://www.baltic-course.com/eng/legislation/?doc=142293 The European Commission is not satisfied with the performance of Estonia in establishing wastewater treatment systems complying with European Union requirements and the country may be faced with a fine if appropriate action is not taken, informs LETA/BNS/Eesti Paevaleht. Mon, 13 Aug 2018 12:05:00 +0300 1534151100 There is shortage of low-qualified workforce – Orkla Confectionery & Snacks Latvija http://www.baltic-course.com/eng/markets_and_companies/?doc=142292 Availability of workforce is a big problem for food producers, and there is a big shortage of low-qualified workforce, informs LETA referring to Toms Didrihsons, the board chairman of Orkla Confectionery & Snacks Latvija food producer. Mon, 13 Aug 2018 11:55:00 +0300 1534150500 Fitch revises Lithuania's rating outlook from stable to positive http://www.baltic-course.com/eng/good_for_business/?doc=142291 Fitch Ratings has revised the outlook on Lithuania's long-term foreign-currency credit rating from stable to positive, informs LETA/BNS referring to the Finance Ministry of Lithuania. Mon, 13 Aug 2018 11:50:00 +0300 1534150200 Nortal asking Estonia to sign agreement on avoidance of double taxation with Botswana http://www.baltic-course.com/eng/baltic_export/?doc=142290 Estonian software and business consulting firm Nortal has turned to deputy secretary generals of the Foreign Ministry and the Finance Ministry with a wish of Estonia entering into an agreement on the avoidance of double taxation with Botswana, informs LETA/BNS. Mon, 13 Aug 2018 11:25:00 +0300 1534148700 Lithuania's Auga Group enters Canadian market http://www.baltic-course.com/eng/good_for_business/?doc=142289 Auga Group, one of the largest agricultural investment companies in the Baltic states, is entering the Canadian market, informs LETA/BNS. Mon, 13 Aug 2018 10:55:00 +0300 1534146900 H1 profit of Silvano grows by nearly half on year http://www.baltic-course.com/eng/good_for_business/?doc=142288 Profit of the listed Estonian lingerie seller Silvano Fashion Group increased by nearly a half in the first six months of 2018 and the company's revenue also grew, informs LETA/BNS. Mon, 13 Aug 2018 10:45:00 +0300 1534146300 Ukraine hoping to extend Kiev-Riga train route to Tallinn http://www.baltic-course.com/eng/good_for_business/?doc=142281 The Ukrainian state-owned railway company Ukrzaliznytsia (Ukrainian Railways) is planning to extend the Kiev-Riga route soon to be opened to Tallinn. Fri, 10 Aug 2018 19:00:00 +0300 1533916800 In July 2018, prices for the total industrial production in Lithuania sold increased by 1 % http://www.baltic-course.com/eng/analytics/?doc=142271 Statistics Lithuania informs that in July 2018, against June, prices for the total industrial production sold increased by 1%, refined petroleum products excluded – 0.8%. The overall price change was influenced by an increase in prices for refined petroleum products, as well as chemicals and chemical products, and by a decrease in prices for food products. Fri, 10 Aug 2018 18:00:00 +0300 1533913200 The unemployment rate in Lithuania stood at 5.9% in 2Q 2018 http://www.baltic-course.com/eng/analytics/?doc=142272 Statistics Lithuania informs that, according to the Labour Force Survey data, in II quarter 2018, the unemployment rate stood at 5.9%. Against I quarter 2018, it decreased by 1.3 percentage points; against the respective period of 2017, it decreased by 1.1 percentage points. In II quarter 2018, the male unemployment rate stood at 6.5, female – 5.3%. Fri, 10 Aug 2018 18:00:00 +0300 1533913200 Tallinn Tech and Silberauto present self-driving car http://www.baltic-course.com/eng/good_for_business/?doc=142273 Tallinn University of Technology and the Estonian car selling and maintenance company Silberauto presented Iseauto, the first self-driving car made in Estonia, at the Opinion Festival in the central Estonian town of Paide on Friday, reportes LETA/BNS. Fri, 10 Aug 2018 18:00:00 +0300 1533913200 Latvian unemployment unchanged at 6.4% in late July http://www.baltic-course.com/eng/analytics/?doc=142274 The registered unemployment rate in Latvia was at 6.4 percent of the economically active population at the end of July this year, or unchanged from June, according to the State Employment Agency's data. Fri, 10 Aug 2018 18:00:00 +0300 1533913200 All offered LNG sold during GET Baltic auction http://www.baltic-course.com/eng/energy/?doc=142275 he whole offered amount of LNG – 110GWh – has been sold during the first auction of this kind, natural gas market operator GET Baltic said LETA/BNS on Friday. Fri, 10 Aug 2018 18:00:00 +0300 1533913200 Lietuvos Energija buying three wind farms from Stemma Group http://www.baltic-course.com/eng/good_for_business/?doc=142270 Lithuania's state-run energy holding Lietuvos Energija (Lithuanian Energy) wants to buy 100-percent stakes in companies Vejo Vatas and Vejo Gusis, from Lithuania's Stemma Group, a company controlled by the family of Martinas Gusiatinas, a former shareholder of Klaipedos Smelte, one of the largest cargo handling companies at the port of Klaipeda, Lietuvos Energija has announced LETA/BNS. Fri, 10 Aug 2018 17:00:00 +0300 1533909600 More people came to Lithuania than left in July http://www.baltic-course.com/eng/analytics/?doc=142269 More people came to Lithuania than left in July, a third month in a row, the latest figures from Statistics Lithuania show. Fri, 10 Aug 2018 16:40:00 +0300 1533908400 Specialized Latvian bank FinnQ entering Lithuania http://www.baltic-course.com/eng/finances/?doc=142266 The Latvian-capital business group VIA SMS Group's specialized bank FinnQ is entering Lithuania, becoming the first specialized bank in the country. And the group's another financial services company, Vialet, will also start operations in Lithuania in the fall, informed LETA/BNS. Fri, 10 Aug 2018 16:20:00 +0300 1533907200 Estonian Cell to buy production technology from Valmet for EUR 10 mln http://www.baltic-course.com/eng/Technology/?doc=142267 Estonian Cell, the Austrian owned pulp mill located at Kunda in northern Estonia, is to buy production technology from the Finnish industrial company Valmet to increase production volumes, and the size of the investment is 5-10 million euros, reports LETA/BNS. Fri, 10 Aug 2018 16:20:00 +0300 1533907200 Court declares Tosmares Kugubuvetava shipyard insolvent http://www.baltic-course.com/eng/legislation/?doc=142268 Kurzeme district court on Thursday declared Tosmares Kugubuvetava shipyard insolvent, LETA learned from the court. Fri, 10 Aug 2018 16:20:00 +0300 1533907200 Estonia: Real beneficiaries of companies to be declared as of September http://www.baltic-course.com/eng/finances/?doc=142265 The real beneficiaries of all companies registered in Estonia need to be declared in the commercial register as of Sept. 1. Fri, 10 Aug 2018 16:10:00 +0300 1533906600 Warm weather reduces apartment sales in Tallinn http://www.baltic-course.com/eng/real_estate/?doc=142263 Warm summer weather reduced apartment sales in and around Tallinn in June and July, Peep Sooman, sales partner at the real estate agency Pindi Kinnisvara, said LETA/BNS. Fri, 10 Aug 2018 16:00:00 +0300 1533906000 Lithuania hopes to get EUR 70 mln from new heavy vehicle tax http://www.baltic-course.com/eng/transport/?doc=142264 Lithuanian hopes to collect around 70 million euros every year from a new heavy vehicle use tax for vehicles crossing the country, set to come into force in two years.Transport Minister Rokas Masiulis says vignettes will be replaced with the new tax and its rate will depend on the distance covered, citing LETA/BNS. Fri, 10 Aug 2018 16:00:00 +0300 1533906000 Procurement announced for Phase 1 of Latvian railway electrification project http://www.baltic-course.com/eng/good_for_business/?doc=142257 Within project “Electrification of the Latvian Railway Network”, a negotiated procedure has been announced on 10 August with a published participation invitation “Electrification of the Latvian Railway Network: Construction”, which is Phase 1 of the procurement for the electrification program planned until 2030, Latvijas dzelzcels representative informed BC. Fri, 10 Aug 2018 15:10:00 +0300 1533903000 Via Baltica's Kaunas-Marijampole reconstruction to be finished this year http://www.baltic-course.com/eng/transport/?doc=142244 The reconstruction of the European highway Via Baltica's strip from Kaunas to Marijampole, widening the highway from 2 to 4 lanes, is set to be finished this year, Transport Minister Rokas Masiulis says radio LRT, hoping that a new wider highway will reduce the number of accidents, citing LETA/BNS. Fri, 10 Aug 2018 11:20:00 +0300 1533889200 Tallinn University's Rakvere College may be closed in 2019 http://www.baltic-course.com/eng/education/?doc=142245 The work of Tallinn University's Rakvere College in Estonia's West-Viru County may end in 2019, according to the regional newspaper Virumaa Teataja informed LETA/BNS. Fri, 10 Aug 2018 11:20:00 +0300 1533889200 Lithuania's Akmenes Cementas expects smaller losses this year http://www.baltic-course.com/eng/markets_and_companies/?doc=142243 Lithuania's sole cement producer Akmenes Cementas hopes to sell more cement this year and cut losses, reports LETA/BNS. Fri, 10 Aug 2018 10:40:00 +0300 1533886800 Lido consolidated turnover increases 12.8% in 2017 http://www.baltic-course.com/eng/good_for_business/?doc=142240 Catering company Lido posted EUR 50.933 mln in turnover last year, a 12.8 % increase on 2016, and EUR 1.07 mln in profit - as compared to losses the company incurred in 2016, according to Firmas.lv data informed LETA. Fri, 10 Aug 2018 10:20:00 +0300 1533885600 Russian United Wagon Company to supply platforms for heavyweight containers to Poland http://www.baltic-course.com/eng/transport/?doc=142241 PJSC Research and production corporation “United Wagon Company” (“UWC”) became the winner of an international tender to supply 200 platforms for heavyweight containers to Laude Smart Intermodal SA (Poland), one of the rapidly growing companies in the field of multimodal transportation services and logistics in Central and Eastern Europe, informed UWC. Fri, 10 Aug 2018 10:20:00 +0300 1533885600 Lithuania's Novaturas to spend EUR 6 mln on interim dividends http://www.baltic-course.com/eng/tourism/?doc=142239 Novaturas, one of the largest tour operators in Lithuania, posted 8.317 mln euros in audited net profits in the first half of this year and plans to pay interim dividends of 0.77 euros per share, spending 6.011 mln euros, reports LETA/BNS. Fri, 10 Aug 2018 10:00:00 +0300 1533884400 Bank of Latvia to sell Rimsevics’ limousine for almost EUR 80,000 http://www.baltic-course.com/eng/legislation/?doc=142236 The Bank of Latvia has decided to sell Audi A8L limousine that has been used by the bank’s governor Ilmars Rimsevics who is now facing graft charges, according to the Latvijas Avize daily information writes LETA. Fri, 10 Aug 2018 09:40:00 +0300 1533883200 Number of passengers carried by airBaltic might grow by more than 20% in 2018 http://www.baltic-course.com/eng/good_for_business/?doc=142237 Latvia’s national carrier airBaltic this year might carry by 20 percent more passengers than last year, said airBaltic CEO Martin Gauss in an interview with LETA. Fri, 10 Aug 2018 09:40:00 +0300 1533883200 Depo DIY retailer raises turnover 7.7% in 2017 http://www.baltic-course.com/eng/good_for_business/?doc=142230 Latvia’s do-it-yourself retail chain Depo DIY (Depo) turned over EUR 219.105 mln in 2017, up 7.7% from a year before, while the company’s profit dropped 2.3% y-o-y to EUR 11.931 mln, according to information available at Firmas.lv, writes LETA. Thu, 09 Aug 2018 18:00:00 +0300 1533826800 June, foreign trade turnover in goods in Latvia was 9.1% higher than in 2017 i http://www.baltic-course.com/eng/good_for_business/?doc=142231 Provisional data of the Central Statistical Bureau (CSB) show that in June 2018 foreign trade turnover of Latvia amounted to EUR 2.37 bln, which at current prices was 9.1% more than in June 2017, of which the exports value of goods rose by 10.7% and imports value of goods by 7.9%. Thu, 09 Aug 2018 18:00:00 +0300 1533826800 LHV says Merko's robust growth may be replaced by decline in 2019 http://www.baltic-course.com/eng/real_estate/?doc=142232 While the results of the listed construction group Merko Ehitus for the second quarter surpassed expectations, the outlook for next year is significantly weaker, Sander Danil, senior analyst at LHV said LETA/BNS. Thu, 09 Aug 2018 18:00:00 +0300 1533826800 Lithuania's Ignalina NPP calls tender for waste repository's technical supervision http://www.baltic-course.com/eng/energy/?doc=142233 Lithuania's Ignalina Nuclear Power Plant has called a tender for the procurement of Near Surface Repository for Low and Intermediate Level Short-Lived Radioactive Waste (project B25) technical supervision and FIDIC engineer services as the nuclear facility is getting ready for the launch of a multimln tender for the repository construction in the fall, informed LETA/BNS. Thu, 09 Aug 2018 18:00:00 +0300 1533826800 Passenger turnover at Riga Port up 6.2% in first seven months http://www.baltic-course.com/eng/good_for_business/?doc=142226 n the first seven months of this year, Riga Port services a total of 514,360 passengers, which was 6.2% more when compared to the same period last year, the port informed. Thu, 09 Aug 2018 17:25:00 +0300 1533824700 Kolegova charged with failure to declare deals worth more than EUR 300,000 http://www.baltic-course.com/eng/legislation/?doc=142227 The State Environmental Service’s head Inga Kolegova has failed to include in her public official asset declaration deals worth more than EUR 300,000, according to the charges laid against her by the prosecutor’s office, reported LETA/BNS. Thu, 09 Aug 2018 17:25:00 +0300 1533824700 Marek Helm to head Nortal's Gulf, Africa operations http://www.baltic-course.com/eng/Technology/?doc=142228 Marek Helm, whose previous jobs include that of head of the Estonian national tax authority, is taking over as head of the operations of the Estonian software and business consulting firm Nortal in the Arab countries of the Gulf (GCC) and Africa, reports LETA/BNS. Thu, 09 Aug 2018 17:25:00 +0300 1533824700 July harmonized average annual inflation stood at 3.4% in Lithuania http://www.baltic-course.com/eng/analytics/?doc=142229 Statistics Lithuania informs that in July 2018, average annual inflation calculated based on the harmonised index of consumer prices (HICP), which is methodologically harmonised with those of other EU member states, stood at 3.4 per cent and was by 0.1 percentage points lower than that calculated based on the consumer price index (CPI). Thu, 09 Aug 2018 17:25:00 +0300 1533824700 Ambitious plans for the Port of Riga http://www.baltic-course.com/eng/direct_speech/?doc=142225 Current transit sector trends promise a good year, Ansis Zeltiņš, Freeport of Riga CEO who has just completed his first full year as the head of the Port, said in an interview with Diena newspaper. Thu, 09 Aug 2018 17:10:00 +0300 1533823800 Ryanair cancels Friday's scheduled flights from Riga to Brussels, Berlin and Bremen http://www.baltic-course.com/eng/transport/?doc=142222 he Irish low-fare airlines Ryanair has cancelled its scheduled flights from Riga to Brussels, Berlin and Bremen on Friday, informed Riga International Airport. Thu, 09 Aug 2018 17:00:00 +0300 1533823200 Lithuania's Amber Grid extends deadline for GIPL contractor tender http://www.baltic-course.com/eng/energy/?doc=142224 Lithuania's natural gas transmission system operator Amber Grid has extended the deadline of an international tender for the construction of Gas Interconnector Poland-Lithuania (GIPL) in the Lithuanian territory for two weeks, reports LETA/BNS. Thu, 09 Aug 2018 17:00:00 +0300 1533823200 Russian billionaire Abramovich visits Vilnius http://www.baltic-course.com/eng/baltic_states_cis/?doc=142220 Russian billionaire and owner of London Chelsea football club Roman Abramovich visited Vilnius this week, according to the 15min.lt news website reports LETA/BNS. Thu, 09 Aug 2018 16:40:00 +0300 1533822000 Estonia seeking to create common packaging deposit system with Latvia http://www.baltic-course.com/eng/markets_and_companies/?doc=142221 Estonian Environment Minister Siim Kiisler is to propose setting up a common packaging deposit system in Estonia and Latvia, which would enable returning beverage packaging bought in Latvia for a reimbursement in Estonia and vice versa, reported LETA/BNS. Thu, 09 Aug 2018 16:30:00 +0300 1533821400 Latvia has absorbed all EU funding allocated in programming period 2007-2013 http://www.baltic-course.com/eng/finances/?doc=142219 Latvia has received and used up all financial support from the European Union’s funds that was made available to Latvia in the programming period 2007-2013, the Finance Ministry said in its monthly report on progress in the implementation of the cohesion policy and EU-funded projects, informed LETA/BNS. Thu, 09 Aug 2018 16:20:00 +0300 1533820800 Inflation was affected substantially in July by higher prices for motor fuels and electricity in Estonia http://www.baltic-course.com/eng/direct_speech/?doc=142218 Inflation slowed to 3.5% in July. Prices continued to rise rapidly for alcohol even without the effect of higher excise. Seasonal discounts for manufactured goods offset higher prices for services. Unfavourable weather means prices for grain and vegetables may rise in Europe in the winter Thu, 09 Aug 2018 16:00:00 +0300 1533819600 H1 loss of Estonian ferry operator Tallink expands 79% to EUR 4.3 mln http://www.baltic-course.com/eng/transport/?doc=142202 Revenue of the listed Estonian shipper Tallink Grupp in the first six months of 2018 totaled 439.6 mln euros, which is 2.6 percent less than in the first half of 2018, and its loss for the period expanded 79 percent to 4.3 mln euros. Thu, 09 Aug 2018 11:20:00 +0300 1533802800 Ryanair cancels Friday's Vilnius-Berlin flight http://www.baltic-course.com/eng/transport/?doc=142203 Irish low-cost carrier Ryanair has cancelled its Vilnius-Berlin flight on Friday due to a pilot strike, reports LETA/BNS. Thu, 09 Aug 2018 11:20:00 +0300 1533802800 Decision on LNG terminal due by end of year - Lithuanian energmin http://www.baltic-course.com/eng/energy/?doc=142201 Lithuania's government plans to make up its mind on the Klaipeda-based LNG terminal by the end of this year, Energy Minister Zygimantas Vaiciunas says LETA/BNS. Thu, 09 Aug 2018 11:00:00 +0300 1533801600 Manufacturing was volatile in the second quarter in Latvia http://www.baltic-course.com/eng/direct_speech/?doc=142200 In the monthly composition, manufacturing was very volatile in the second quarter. Particularly strong volatility can be observed with respect to the manufacture of computer and electronic products. Thu, 09 Aug 2018 10:40:00 +0300 1533800400 Estonia's exports up 17% on year in June in 2018 http://www.baltic-course.com/eng/good_for_business/?doc=142199 According to Statistics Estonia, in June 2018, the exports of goods increased by 17% and imports by 18% compared to June 2017. The growth in trade was affected the most by increased trade in mineral products. In the first half-year, compared to the same period of the previous year, the exports of goods increased by 10% and imports by 8%. Thu, 09 Aug 2018 10:20:00 +0300 1533799200