http://www.baltic-course.com/eng/ The Baltic Course - International Internet Magazine. Baltic States News & Analysis, Baltic market reviews eng Fri, 12 Mar 2010 05:27:55 +0200 Baltic Course, The baltic-course@baltic-course.com dmitrijs@mansbirojs.lv http://www.baltic-course.com/eng/analytics/?doc=24617 Compared to 2008 gross domestic product (GDP) in the 2009 has decreased by 18.0%, according to the seasonally non-adjusted data* of the Central Statistical Bureau of Latvia. Compared to the 4th quarter of 2008, in the 4th quarter of 2009 GDP has diminished by 16.9%. Thu, 11 Mar 2010 20:00:00 +0200 1268330400 http://www.baltic-course.com/eng/analytics/?doc=24627 Estonian Ministry of Finance commented on the GDP statistics published on Thursday morning, noting that it is to be expected that in 2010 the year-on-year decline pace will gradually slow down, writes LETA/Postimees Online.The ministry expects the year-on-year economic growth to recover in the second half of the year 2010 and the main growth motor will be the exports sector. Thu, 11 Mar 2010 18:30:00 +0200 1268325000 http://www.baltic-course.com/eng/analytics/?doc=24633 In 2010, Latvia's gross domestic product (GDP) will fall by about by 3%, the head of the Central Statistical Bureau (CSB) Aija Zigure predicts. She did point out however that predicting GDP changes is very hard, because the 2009 figures show that various sectors are easily wounded and their results are very unpredictable. Thu, 11 Mar 2010 18:30:00 +0200 1268325000 http://www.baltic-course.com/eng/analytics/?doc=24600 According to Statistics Estonia, in 2009 the gross domestic product (GDP) decreased by 14.1% compared to the previous year. The biggest downfall was in the 2nd quarter when the GDP decreased by 16.1%. After that, the decrease gradually decelerated. In the 4th quarter, the GDP decreased by 9.5% according to the first estimates. Thu, 11 Mar 2010 18:00:00 +0200 1268323200 http://www.baltic-course.com/eng/tourism/?doc=24614 In the new Treaty of Lisbon (2009), for the first time in Union’s history, the tourism sector was mentioned as a sphere, where the Union should complement the member states’ actions. This is a clear sign of importance attached to the sector by the EU institutions and the member states. Tourism sector is generally regarded as one of the most important “industries” in the Baltic States. Thu, 11 Mar 2010 17:00:00 +0200 1268319600 http://www.baltic-course.com/eng/finances/?doc=24635 In connection with the adoption of the euro, 236 out of 418 laws currently in effect in Estonia will have to be changed, noted Prime Minister Andrus Ansip at the Government press conference, writes LETA/Postimees Online. Thu, 11 Mar 2010 17:00:00 +0200 1268319600 http://www.baltic-course.com/eng/markets_and_companies/?doc=24631 The meat processing company Rigas miesnieks is to acquire a controlling interest in its competitor Jelgavas galas kombinats. Rigas miesnieks, which belongs to the HKScan concern, is planning to acquire 90.85% of shares in Jelgavas galas kombinats from Masa capital partners, Sidrabene and UPCF. Thu, 11 Mar 2010 16:30:00 +0200 1268317800 http://www.baltic-course.com/eng/markets_and_companies/?doc=24625 Water supply and wastewater collection and treatment services enterprise Tallinna Vesi in 2009 earned operating profit from water and wastewater related in amount of 414.4 million kroons activities which is 9.8% more, year-on-year. The company's operating profits from other activities increased by 70.2% and totaled 47.5 million kroons. Thu, 11 Mar 2010 16:00:00 +0200 1268316000 http://www.baltic-course.com/eng/energy/?doc=24634 During the last year's financial period, from October of 2008 to September of 2009, joint-stock heat supply company Rigas Siltums operated with LVL 4.99 million in profit, which is LVL 1.29 million more than in the previous financial year, LETA was informed by the company's spokeswoman Linda Rence. Thu, 11 Mar 2010 16:00:00 +0200 1268316000 http://www.baltic-course.com/eng/markets_and_companies/?doc=24622 Estonian State Audit Office revealed that East Tallinn Central Hospital has made a purchase of services valued at 450 million kroons without organising a public tender, LETA/BBN reports. Thu, 11 Mar 2010 15:30:00 +0200 1268314200 http://www.baltic-course.com/eng/tourism/?doc=24601 According to Statistics Estonia, in January 2010, 73,000 foreign tourists stayed in accommodation establishments, which was 18% more than year earlier in the same period. Thu, 11 Mar 2010 15:00:00 +0200 1268312400 http://www.baltic-course.com/eng/finances/?doc=24620 Today, Latvia received the third part of its loan from the European Commission – EUR 500 million, LETA was informed by the European Commission's mission in Latvia. Thu, 11 Mar 2010 15:00:00 +0200 1268312400 http://www.baltic-course.com/eng/transport/?doc=24621 Estonian Post (Eesti post) is planning expansion to Latvia and Lithuania as on these markets there is a great demand for such logistics services that have been implemented in Estonia and have turned out to be successful, writes LETA/Postimees Online. Thu, 11 Mar 2010 15:00:00 +0200 1268312400 http://www.baltic-course.com/eng/legislation/?doc=24613 A completely new movement has begun in Latvian politics, and new people will soon come into the fold. If the People's Party and Latvia's First Party/Latvia's Way (LPP/LC) can become part of this movement, we will be able to speak about the possibility of working together in the fall Saeima elections, said Riga Deputy Mayor and LPP/LC leader Ainars Slesers in an interview on Latvian State Radio this morning. Thu, 11 Mar 2010 13:30:00 +0200 1268307000 http://www.baltic-course.com/eng/analytics/?doc=24616 The government's most important task has been accomplished – state insolvency has been averted in Latvia, the most difficult point of the economic crisis has been overcome, and stability has been achieved in the financial and economic systems, a necessary factor for future efforts for raising of state competitiveness and the renewal of the economy. Thu, 11 Mar 2010 13:30:00 +0200 1268307000 http://www.baltic-course.com/eng/finances/?doc=24612 Lithuania's fifth biggest bank by assets Snoras Bankas wants to increase its loan portfolio in 2010 as rival Scandinavian subsidiaries tighten credit. "We are trying to benefit from the situation when the Scandinavian banks are not as active," Snoras Deputy Chairman Naglis Stancikas said in an interview today in Vilnius. Thu, 11 Mar 2010 13:00:00 +0200 1268305200 http://www.baltic-course.com/eng/baltic_states/?doc=24606 During the meeting with Latvian Minister of Foreign Affairs Maris Riekstins on Wednesday, Estonia's Prime Minister Andrus Ansip stated that the Latvian government has done a very good job in implementing structural reforms, writes LETA/Postimees Online. Thu, 11 Mar 2010 12:30:00 +0200 1268303400 http://www.baltic-course.com/eng/education/?doc=24599 The first Estonian-Latvian and Latvian-Estonian translating award was granted to Maima Grinberga, writes LETA/ National Broadcasting. Thu, 11 Mar 2010 12:00:00 +0200 1268301600 http://www.baltic-course.com/eng/energy/?doc=24605 Energy company Latvenergo and the European Bank for Reconstruction and Development (EBRD) have signed a credit agreement on funding for the second stage of the Riga TEC-2 heating and power station reconstruction project. Thu, 11 Mar 2010 12:00:00 +0200 1268301600 http://www.baltic-course.com/eng/finances/?doc=24607 The supervisory board of Bigbank decided to expand the composition of the bank’s management board to five members, writes LETA/Postimees Online. The bank appointed FCO of Bigbank Group Ruslan Mahhov as the newest member of the management board. Thu, 11 Mar 2010 12:00:00 +0200 1268301600 http://www.baltic-course.com/eng/markets_and_companies/?doc=24587 On March 9, the Latvian government approved the eagerly awaited Entrepreneurship Environment Improvement plan for 2010. Economics Minister Artis Kampars stressed the theme “faster, cheaper, fewer procedures” as the way in which the government will help businesses strengthen the economy, reported BC the Latvian Institute. Thu, 11 Mar 2010 10:30:00 +0200 1268296200 http://www.baltic-course.com/eng/baltic_states/?doc=24594 President of the Republic of Lithuania Dalia Grybauskaite has received the President of Slovenia, Danilo Tuerk, who came to Vilnius on an official visit. This is the first official visit by President Danilo Tuerk to Lithuania, the reported BC presidential press service. Thu, 11 Mar 2010 10:30:00 +0200 1268296200 http://www.baltic-course.com/eng/finances/?doc=24596 On Wednesday, Seimas Speaker Irena Degutiene received Speaker of Sweden's Parliament Per Westerberg. During the meeting, Degutiene was interested in the financial policies of the Swedish capital in the Baltic States. Thu, 11 Mar 2010 10:30:00 +0200 1268296200 http://www.baltic-course.com/eng/finances/?doc=24595 In February 2010, external assets and external liabilities of the Bank of Lithuania increased by 2.8 billion litas (810.61 million euros) and 358.2 million litas (103.7 million euros) respectively, the country's central bank reports. Both indicators amounted to 19.3 billion litas (5.58 billion euros) and 436 million litas (126.224 million euros) respectively at the end of the month. Thu, 11 Mar 2010 10:00:00 +0200 1268294400 http://www.baltic-course.com/eng/markets_and_companies/?doc=24597 Ownership at the television companies LNT and TV5 has changed hands – LNT's management or the joint-stock Neatkarigie nacionalie mediji has acquired controlling interest from the News Corporation media magnate. Thu, 11 Mar 2010 10:00:00 +0200 1268294400 http://www.baltic-course.com/eng/markets_and_companies/?doc=24598 Sales of Lithuania-based milk processing company Vilkyskiu Pienine in February 2010 amounted to 17.5 million litas, representing 51-% increase in comparison with the corresponding month of 2009, Vilkyskiu Pienine reported to NASDAQ OMX Vilnius. Thu, 11 Mar 2010 10:00:00 +0200 1268294400 http://www.baltic-course.com/eng/markets_and_companies/?doc=24585 A specific instrument exists in the EU decision-making procedures, which is called “Green Paper”. The purpose of such papers is to launch a public debate on a future legislative proposal that can eventually evolve into an EU law, as either a directive, regulation or decision. In the beginning of March, the Commission launched a public debate on forest issues, including protection and management. Wed, 10 Mar 2010 19:00:00 +0200 1268240400 http://www.baltic-course.com/eng/analytics/?doc=24563 Statistics Lithuania reports that, based on non-final data obtained from customs declarations and Intrastat reporting data, exports in January 2010 amounted to LTL 3.1 billion, while imports – LTL 3.5 billion. Foreign trade deficit of Lithuania amounted to LTL 0.4 billion, which is 2.8 times more than in January 2009. Data on trade with EU countries were adjusted after VAT returns data had been received. Wed, 10 Mar 2010 18:00:00 +0200 1268236800 http://www.baltic-course.com/eng/analytics/?doc=24568 Non-financial investment* (at current prices) in Latvia in 2009 comprised 1702.0 mln lats, of which in the 4th quarter 525.6 mln lats, according to the data of the Central Statistical Bureau. Compared to 2008, the volume of non-financial investment at constant prices in 2009 reduced by 34.2%, and in comparison with the 4th quarter of 2008, in 4th quarter of 2009 it decreased by 31.7%. Wed, 10 Mar 2010 18:00:00 +0200 1268236800 http://www.baltic-course.com/eng/analytics/?doc=24581 The majority of Latvian citizens (59%) have considered starting their own business, according to a survey carried out by Nordea banka. However, only 5% of respondents had already drawn up a business plan or looked for potential business partners, Nordea banka Senior Economist Andris Strazds said at a press conference today. Wed, 10 Mar 2010 17:00:00 +0200 1268233200 http://www.baltic-course.com/eng/baltic_states_cis/?doc=24582 The relations of Lithuania and Russia are becoming better and better, President Dalia Grybauskaite says.At a news conference after Grybauskaite's meeting with Slovenia's President Danilo Tuerk, reporters from Slovenia were interested in the relations between Lithuania and Russia. Wed, 10 Mar 2010 17:00:00 +0200 1268233200 http://www.baltic-course.com/eng/Technology/?doc=24576 Latvian minister of foreign affairs Maris Riekstins stated that Latvia supports Estonia’s candidacy as the location for the EU’s IT agency, writes LETA/National Broadcasting. Wed, 10 Mar 2010 16:30:00 +0200 1268231400 http://www.baltic-course.com/eng/transport/?doc=24583 Hugo Osula’s company AS MootorReisi Group that had earned a loss in 2008 managed to get a profit of 3.2 million kroons in 2009, writes LETA/Postimees Online. Wed, 10 Mar 2010 16:30:00 +0200 1268231400 http://www.baltic-course.com/eng/finances/?doc=24573 Between November 2008 and February 2010, Parex banka paid more than LVL 54 million to the state in interest payments on the support provided to prevent its insolvency. The State Treasury received more than LVL 49 million on its deposits, while the Privatization Agency received LVL 5 million for subordinated capital deposits, the business portal Nozare.lv was informed by Parex Corporate Communications Director Inga Saleniece. Wed, 10 Mar 2010 16:00:00 +0200 1268229600 http://www.baltic-course.com/eng/analytics/?doc=24574 Part of the state's economic problems will be over in 2010 already, and there are first signs of stabilization visible in the economy right now, as Prime Minister Valdis Dombrovskis (New Era) stressed at a press conference today. Wed, 10 Mar 2010 16:00:00 +0200 1268229600 http://www.baltic-course.com/eng/markets_and_companies/?doc=24577 Consolidated sales revenue of Lithuania-based group of companies Alita in 2009 amounted to 139.9 million litas, which is by 31% less in comparison with 2008, Alita reported to NASDAQ OMX Vilnius. Wed, 10 Mar 2010 16:00:00 +0200 1268229600 http://www.baltic-course.com/eng/finances/?doc=24578 International ratings agency Fitch Ratings changed SEB Bank's long-term issuer's default rating outlook from negative to stable whereas SEB Bank's long-term issuer's default rating A, short-term issuer's default rating F1, individual rating D/E and support rating 1 remained unchanged. Fitch also revised the outlook for a bank DnB NORD Bankas, operating in Lithuania, to stable from negative. Wed, 10 Mar 2010 16:00:00 +0200 1268229600 http://www.baltic-course.com/eng/baltic_export/?doc=24567 The company Olainfarm is planning to open an office in Bangkok in 2010, according to an announcement for the NASDAQ OMX RIGA stock exchange. Wed, 10 Mar 2010 15:30:00 +0200 1268227800 http://www.baltic-course.com/eng/markets_and_companies/?doc=24575 Lithuania-based producer of strong drinks Vilniaus Degtine registered revenue in amount of 53.199 million litas in 2009, which is 23.3% less than in corresponding period of the previous year, Vilniaus Degtine reported to NASDAQ OMX Vilnius. Wed, 10 Mar 2010 15:30:00 +0200 1268227800 http://www.baltic-course.com/eng/finances/?doc=24566 The acquisition and support for Parex banka has seriously affected the state's budget situation, and the successful sale of the bank would significantly improve state macroeconomic indicators, said Prime Minister Valdis Dombrovskis in his annual report to the Saeima on the government's achievements over the previous year. Wed, 10 Mar 2010 15:00:00 +0200 1268226000 http://www.baltic-course.com/eng/finances/?doc=24562 Unlike many other countries, which are not certain whether they will be able to find extra financial resources, the loan from the international lenders gives Latvia the opportunity to plan its development for several years ahead, as Prime Minister Valdis Dombrovskis (New Era) said in his annual report to Saeima on the job done by the Cabinet of Ministers and its future plans. Wed, 10 Mar 2010 14:30:00 +0200 1268224200 http://www.baltic-course.com/eng/analytics/?doc=24548 Lithuania's Central Bank governor Reinoldijus Sarkinas said Greece should avoid seeking international aid and follow the example of the Baltic nation, which suffered the European Union's second-deepest recession last year without a bailout. Wed, 10 Mar 2010 14:00:00 +0200 1268222400 http://www.baltic-course.com/eng/baltic_states/?doc=24560 A Lithuanian secret agent on Tuesday gave evidence behind closed doors at the trial of an Irishman accused of trying to smuggle arms for the Real IRA, a defence lawyer said. Ingrida Botyriene told AFP the Lithuanian agent involved in the arrest of Michael Campbell was cross-examined in secret on the orders of Vilnius criminal court judge Arunas Kiselius. Wed, 10 Mar 2010 13:30:00 +0200 1268220600 http://www.baltic-course.com/eng/transport/?doc=24549 Lithuanian President Dalia Grybauskaite on Tuesday downplayed suggestions that Lithuania opposed the inclusion of a Russian investor in the ex-Soviet Baltic state's only oil refinery. "Politically it is important, it's of symbolic importance, but economically this refinery is not strategic," Grybauskaite told AFP in an interview. Wed, 10 Mar 2010 13:00:00 +0200 1268218800 http://www.baltic-course.com/eng/Technology/?doc=24558 According to a recent market survey by IDC, the computers market in Estonia, Latvia and Lithuania fell by 46% in 2009 in the year-on-year comparison, writes LETA/Postimees Online. Wed, 10 Mar 2010 13:00:00 +0200 1268218800 http://www.baltic-course.com/eng/finances/?doc=24559 By the beginning of March 2010, individuals in Estonia owe the State a total of 6.24 billion kroons in taxes, writes LETA/Postimees Online. Wed, 10 Mar 2010 13:00:00 +0200 1268218800 http://www.baltic-course.com/eng/baltic_states/?doc=24551 During his meeting with his Serbian colleague Vuk Jeremic in Tallinn, Foreign Minister of Estonia Urmas Paet pointed out that Serbia has had good results in its European Union accession negotiations, carrying out essential reforms and continuing its cooperation with the International Criminal Tribunal for the Former Yugoslavia (ICTY), the Ministry of foreign Affairs of Estonia reported BC. Wed, 10 Mar 2010 12:45:00 +0200 1268217900 http://www.baltic-course.com/eng/baltic_states/?doc=24550 The European Commission’s Eurobarometer division translated information materials meant for Estonia and Latvia into Russian, although the latter is not an official language of the EU, writes LETA/National Broadcasting. Wed, 10 Mar 2010 12:30:00 +0200 1268217000 http://www.baltic-course.com/eng/education/?doc=24538 The Tallinn University concluded an agreement with the headquarters of the Chinese Confucius Institute to create the institute’s branch in Estonia and on Tuesday the rector of the University Rein Raud concluded a co-operation agreement with the new partner university, writes LETA referring to National Broadcasting. Wed, 10 Mar 2010 12:00:00 +0200 1268215200 http://www.baltic-course.com/eng/Technology/?doc=24547 Estonia’s President Toomas Hendrik Ilves stated in his speech at the Baltic Sea Strategy conference that the Baltic Sea countries should join forces as research and innovation region, not compete between themselves, writes LETA/National Broadcasting. Wed, 10 Mar 2010 12:00:00 +0200 1268215200 http://www.baltic-course.com/eng/transport/?doc=24543 Wizz Air, the largest low fare – low cost airline in Central and Eastern Europe, is introducing new service, informed BC Kristine Toma. Wed, 10 Mar 2010 11:30:00 +0200 1268213400 http://www.baltic-course.com/eng/baltic_states/?doc=24535 Over 1,280 people who have lost jobs in Lithuanian construction companies and the refrigerator manufacturing industry will benefit from the European Globalisation Adjustment Fund (EGF). Such a decision was adopted by the European Parliament (EP) on Tuesday. Wed, 10 Mar 2010 11:00:00 +0200 1268211600 http://www.baltic-course.com/eng/Technology/?doc=24539 Virtual fitting room service Fits.me, developed by Estonian enterprise Massi Miliano, has been chosen as one of the most promising enterprises at European visionary conference Plugg. Wed, 10 Mar 2010 10:45:00 +0200 1268210700 http://www.baltic-course.com/eng/transport/?doc=24537 In the first two months of the year 2010, cargo turnover at the Port of Tallinn in Estonia and the Port of Klaipeda in Lithuania continued to increase, whilst cargo turnover at the Port of Riga fell once again, according to data from the business information portal Nozare.lv. Wed, 10 Mar 2010 10:30:00 +0200 1268209800 http://www.baltic-course.com/eng/transport/?doc=24534 In February 2010, the Port of Liepaja handled 397,103 tons of cargo, which is 13.3% more when compared to February of last year, as the Liepaja Special Economic Zone's public relations officer Liga Ratniece-Kadege informed LETA. Wed, 10 Mar 2010 10:00:00 +0200 1268208000 http://www.baltic-course.com/eng/finances/?doc=24536 During a meeting between international lenders and opposition parties at Saeima yesterday, the international lenders pointed out that reducing the value added tax (VAT) in separate industries will lead to similar demands from representatives of other spheres, LETA was informed by Saeima Deputy Oskars Kastens (Latvia's First Party/Latvia's Way). Wed, 10 Mar 2010 10:00:00 +0200 1268208000 http://www.baltic-course.com/eng/transport/?doc=24540 A large shareholder of listed ferry operator Tallink Group – Infortar which is controlled by three Estonian businessmen Enn Pant, Ain Hanschmidt and Kalev Jarvelill has won more time from banks to repay loans, LETA/BBN reports, referring to Aripaev. Wed, 10 Mar 2010 10:00:00 +0200 1268208000 http://www.baltic-course.com/eng/finances/?doc=24541 Finance brokerage company Snoras – Jusu Tarpininkas decided to delist from the NASDAQ OMX Stock Exchange in the Baltic states from March 31, 2010, the company's statement to the Stock Exchange says. Wed, 10 Mar 2010 10:00:00 +0200 1268208000 http://www.baltic-course.com/eng/analytics/?doc=24524 More than a decade ago, Germany suggested a common currency for a “common Community”. Last weekend German finance minister came with another idea – creating a European Monetary Fund, EMF to bail out 16 eurozone members in financial difficulties. It is a remarkable idea, though questions abound, e.g. would the EMF cover eurozone or the entire EU, whether the EU treaties should be amended to create the fund. Tue, 09 Mar 2010 19:30:00 +0200 1268155800 http://www.baltic-course.com/eng/analytics/?doc=24494 Statistics Lithuania calculates the harmonised index of consumer prices (HICP), which is methodologically harmonised with those of other EU Member States, on a monthly basis. The conformity with the price stability criterion, set in the Maastricht Treaty, is assessed taking into consideration the inflation rate which is calculated based on the said index. Average annual inflation calculated based on the HICP in February 2010 stood at 2.6%, which is by 0.3 percentage point less than that calculated based on the consumer price index (CPI). Tue, 09 Mar 2010 18:00:00 +0200 1268150400 http://www.baltic-course.com/eng/analytics/?doc=24523 The unemployment level in Latvia in February 2010 grew at a slower pace than previous months, according to information from the State Employment Agency (SEA). Tue, 09 Mar 2010 17:00:00 +0200 1268146800 http://www.baltic-course.com/eng/real_estate/?doc=24515 YIT Ehitus, Estonian subsidiary of Scandinavian construction giant YIT, signed a 40 million euro contract in Latvia to build two 120-metre-high round buildings for a company Towers Construction Management, LETA/BBN reports. Tue, 09 Mar 2010 16:30:00 +0200 1268145000 http://www.baltic-course.com/eng/transport/?doc=24517 Latvian airline airBaltic carried overall 186,512 passengers in February 2010 (from Riga, Vilnius and Tallinn), representing 27% more than in the same month in 2009, when airBaltic transported 147,425 passengers. In February of this year, the number of passengers at the base of airBaltic in Riga has increased by 33% compared to the same period last year, reported BC Janis Vanags, vice president of corporate communications in airBaltic. Tue, 09 Mar 2010 16:30:00 +0200 1268145000 http://www.baltic-course.com/eng/tourism/?doc=24514 The People's Party succeeded today, with the help of the opposition, in gaining theoretical support from the Saeima's Budget and Finance (Taxation) Committee for forwarding their amendment to the law "On Value Added Tax" (VAT) for review in the full Saeima in Latvia. The amendment foresees the introduction of a reduced VAT rate for the tourism sector. Tue, 09 Mar 2010 16:00:00 +0200 1268143200 http://www.baltic-course.com/eng/finances/?doc=24516 In a year, small enterprises have received innovation voucher grants from the foundation Enterprise Estonia for implementing 149 innovation projects, writes LETA/Äripäev.ee. The volume of the grants financed by the European Regional Development Fund amounts to a total of 8.75 million kroons. Tue, 09 Mar 2010 16:00:00 +0200 1268143200 http://www.baltic-course.com/eng/energy/?doc=24507 Minister of Energy Arvydas Sekmokas, who is taking part in the International Conference on Nuclear Energy in Paris on March 8-9, is convinced that nuclear renaissaince is taking place in the world. Tue, 09 Mar 2010 14:30:00 +0200 1268137800 http://www.baltic-course.com/eng/analytics/?doc=24504 Productivity per employed person grew by 1.8% in Estonia, year-on-year, in the last quarter of 2009, preliminary data of Estonian Bank shows. Tue, 09 Mar 2010 14:00:00 +0200 1268136000 http://www.baltic-course.com/eng/transport/?doc=24506 Ryanair is aiming to pressure the Tallinn Airport to lower its airport fees for the airline close to zero for bringing 1.5 new passengers to Estonia, writes LETA/Eesti Päevaleht. Tue, 09 Mar 2010 14:00:00 +0200 1268136000 http://www.baltic-course.com/eng/energy/?doc=24495 A dozen previously unknown shipwrecks, some of them believed to be up to 1,000 years old, were discovered in the Baltic Sea during a probe of the sea bed to prepare for the installation of a large gas pipeline, LETA/Swedish Wire reported, referring to the Swedish National Heritage Board. Tue, 09 Mar 2010 13:30:00 +0200 1268134200 http://www.baltic-course.com/eng/markets_and_companies/?doc=24503 "I would have to be really desperate before I would get involved in politics," said Kolonna beauty care company shareholder Ieva Plaude-Relingere in an interview with the LNT morning new show "900 Seconds". Plaude-Relingere indicated that it was impossible to be successful in both business and politics at the same time. Tue, 09 Mar 2010 13:30:00 +0200 1268134200 http://www.baltic-course.com/eng/analytics/?doc=24496 The number of illegal immigrants caught in Estonia in 2009 grew by more than two times in comparison to the previous year, writes LETA/National Broadcasting. Tue, 09 Mar 2010 13:00:00 +0200 1268132400 http://www.baltic-course.com/eng/education/?doc=24487 European Commission presented a report showing that the EU-27 still face challenges in modernising higher education. The report acknowledges that after a decade since the launch of a blueprint for educational reform known as the “Bologna Process” countries achieved great success. The report will be discussed on 11-12 March in Budapest and Vienna. Tue, 09 Mar 2010 12:00:00 +0200 1268128800 http://www.baltic-course.com/eng/energy/?doc=24492 One billion euros was allocated to the closure of the Ignalina Nuclear Power Plant, however, nothing was done. The new IAE Head Osvaldas Ciuksys will only be able to show the EU auditors the poured concrete. Osvaldas Ciuksys will start his works from ultimatum to German company Nukem Technologies, writes Lietuvos Rytas. Tue, 09 Mar 2010 12:00:00 +0200 1268128800 http://www.baltic-course.com/eng/finances/?doc=24493 Latvenergo’s subsidiary company Augstsprieguma tikls and Sadales tikls made redundancy compensation payments or severance pay of more than ten monthly salaries. This is according to salary details on the two companies published by the self-titled "Fourth Awakening People's Army" (4ATA) activist group this morning. Tue, 09 Mar 2010 12:00:00 +0200 1268128800 http://www.baltic-course.com/eng/forums/?doc=24505 Lithuania organizes a big event intended for attracting textile and fashion industry professionals from various countries. The specialists and start-ups keen to explore business opportunities in the Baltic States might want to consider visiting the region's biggest apparel trade show "Baltic Textile plus Leather" on October 14-16 2010, LETA/Just-style reports. Tue, 09 Mar 2010 12:00:00 +0200 1268128800 http://www.baltic-course.com/eng/analytics/?doc=24482 When responding to questions from MPs in front of Riigikogu on Monday, Estonian minister of finance Jürgen Ligi noted that the economic crisis will be overcome before the end of the year 2010, writes LETA/Postimees Online. Tue, 09 Mar 2010 10:30:00 +0200 1268123400 http://www.baltic-course.com/eng/real_estate/?doc=24484 During the past few months, several real estate developing companies have launched new residential construction projects as construction prices are low and the real estate market in Tallinn has started showing first signs of stabilisation, reported Swedbank Estonia at the real estate conference for the bank’s customers and developers, writes LETA/Äripäev.ee. Tue, 09 Mar 2010 10:30:00 +0200 1268123400 http://www.baltic-course.com/eng/finances/?doc=24485 Lithuania-based Ukio Bankas, expanding a spectrum of provided services, has offered insurance services to its clients in cooperation with Lithuania-located insurance company PZU Lietuva, Ukio Bankas reports. From now on Ukio Bankas provides a possibility to use insurance services of PZU Lietuva at all Ukio Bankas units, offering an obligatory motor drivers third party liability insurance and individual property insurance. Tue, 09 Mar 2010 10:30:00 +0200 1268123400 http://www.baltic-course.com/eng/baltic_states/?doc=24486 Within the framework of the Gymnich meeting in Cordoba, Spain, the European Union foreign ministers met on March 6 with their Turkish, Croatian, and Macedonian colleagues to discuss accession to the European Union and the situation in the Western Balkans. Foreign Minister Urmas Paet stated that Estonia supports the European Union accession of the Western Balkan nations. Tue, 09 Mar 2010 10:30:00 +0200 1268123400 http://www.baltic-course.com/eng/energy/?doc=24481 CEO of Eesti Energia’s Narva Power Plants Ilmar Petersen will leave office after his term of contract will end at the end of March 2010, writes LETA/Postimees Online. The new CEO of the power plants Tõnu Aas will take office from April 1. Tue, 09 Mar 2010 10:00:00 +0200 1268121600 http://www.baltic-course.com/eng/finances/?doc=24483 Central government of Lithuania had a debt in the end of January 2010 in amount of 26.310 billion litas, or 28% of projected gross domestic product (GDP) for 2010 (which totals 93.819 billion litas), the data of the Ministry of Finance of Lithuania shows. Tue, 09 Mar 2010 10:00:00 +0200 1268121600 http://www.baltic-course.com/eng/analytics/?doc=24457 Statistics Lithuania informs that prices for consumer goods and services in February 2010, against January, dropped by 0.1%. Over a year (February 2010, against February 2009), consumer goods and services went down in price by 0.5%. Mon, 08 Mar 2010 20:00:00 +0200 1268071200 http://www.baltic-course.com/eng/analytics/?doc=24452 In January 2010 industrial production output1 (at current prices) in Latvia comprised LVL 288.9 mln, according to the data of Central Statistical Bureau. Compared to December 2009 industrial production volume in January 2009 has reduced by 1.6%, but compared to January of previous year industrial production output in January 2010 has grown by 5.7%. Mon, 08 Mar 2010 19:00:00 +0200 1268067600 http://www.baltic-course.com/eng/analytics/?doc=24450 Compared to January 2010 the average consumer price level in February 2010 remained unchanged in Latvia. Prices of goods rose by 0.1%, but of services – decreased by 0.4%. Compared to February of previous year, consumer prices have decreased by 4.2%. Mon, 08 Mar 2010 18:00:00 +0200 1268064000 http://www.baltic-course.com/eng/analytics/?doc=24467 Lithuania, which suffered the European Union's second-worst recession, had the outlook on its credit rating raised by Fitch Ratings after the government implemented an austerity program to curb the budget deficit. Mon, 08 Mar 2010 18:00:00 +0200 1268064000 http://www.baltic-course.com/eng/transport/?doc=24472 The Swedish Maritime Administration – Sjöfartsverket – has sharply criticized ferry companies in the Baltic Sea for ignoring warnings and failing to change routes to avoid thick ice sheets, LETA/The Local reports. Mon, 08 Mar 2010 18:00:00 +0200 1268064000 http://www.baltic-course.com/eng/finances/?doc=24471 Prime Minister of Estonia Andrus Ansip had a meeting with Polish head of government Donald Tusk, who appraised Estonia's plan to join the eurozone, Estonian government communications service reported BC. Mon, 08 Mar 2010 17:30:00 +0200 1268062200 http://www.baltic-course.com/eng/transport/?doc=24466 Merko Ehitus, the largest listed Baltic builder, has its "eyes open" for acquisitions in neighboring Latvia and Lithuania, where companies are reeling from a regional slump, Chief Executive Officer Tiit Roben said. Merko, which earned more than 90% of 2009 revenue from building projects, also wants to boost its share of the Baltic road construction market, Roben said in an e-mailed response to Bloomberg questions today. Mon, 08 Mar 2010 17:00:00 +0200 1268060400 http://www.baltic-course.com/eng/markets_and_companies/?doc=24465 Demand for cut flowers on International Women's Day 2010 in Latvia is lower than in 2009, but men are still striving to bring joy to the women in their lives, according to flower sellers polled by the business portal Nozare.lv. Mon, 08 Mar 2010 16:30:00 +0200 1268058600 http://www.baltic-course.com/eng/transport/?doc=24468 The European Commission approved the decision of the Centre for Environmental Investments to allocate nearly 440 million kroons to the Police and Border Guard Board for purchasing a new multi-functional pollution abatement ship, writes LETA/Postimees Online. Mon, 08 Mar 2010 16:00:00 +0200 1268056800 http://www.baltic-course.com/eng/energy/?doc=24429 The European Commission opened the 2010 International Year of Biodiversity with a paper setting out future options for the EU’s biodiversity policy. Despite past efforts, species extinctions are continuing at alarming rates, and a new vision is required to halt these losses. The Communication sets out a vision and outlines four possible targets to reach it, with different levels of ambition. Mon, 08 Mar 2010 15:00:00 +0200 1268053200 http://www.baltic-course.com/eng/analytics/?doc=24430 According to Statistics Estonia, one of the most important population development indicators – life expectancy – has shown an increasing trend in Estonia in case of women as well as men during the last decade. Due to a higher life expectancy, women outnumber men at the age of 65+ by two times. Mon, 08 Mar 2010 15:00:00 +0200 1268053200 http://www.baltic-course.com/eng/markets_and_companies/?doc=24455 The telephone company Lattelecom announced today that its is prepared to provide decoders for 70,000 households in financial need and cut the subscription fee for five national channels by 25%, if the government extends digital broadcasting rights to the company till end-2018.The announcement was made to the press today by Lattelecom CEO Juris Gulbis. Mon, 08 Mar 2010 15:00:00 +0200 1268053200 http://www.baltic-course.com/eng/markets_and_companies/?doc=24456 Forum Cinemas Kinoklubi (Cinema Club) is an overwhelming leader among Estonian companies that are using Facebook network for marketing purposes – it has 12,020 fans as of Monday, writes LETA/Postimees Online. Mon, 08 Mar 2010 15:00:00 +0200 1268053200 http://www.baltic-course.com/eng/analytics/?doc=24447 The most critical work for the government is now past; however, there are still important challenges to come, said Latvia’s Prime Minister Valdis Dombrovskis (New Era), commenting on his first year in office. Dombrovskis' Cabinet was approved by a Saeima vote on March 12, 2009, at the time when the economic crisis and the country's solvency problems had become a reality. Mon, 08 Mar 2010 14:00:00 +0200 1268049600 http://www.baltic-course.com/eng/transport/?doc=24448 European Commissioner in charge of transport issues Siim Kallas stated that the Rail Baltica project is suffering from a number of shortcomings, similarly to other trans-European transportation projects, writes LETA/National Broadcasting. Mon, 08 Mar 2010 14:00:00 +0200 1268049600 http://www.baltic-course.com/eng/finances/?doc=24436 As many as a fifth of outstanding consumer loans issued in Estonia have gone ‘bad’, but banks are not rushing to collect electronics appliances from those who have failed to pay their loan instalments, LETA/Eesti Päevaleht writes. Mon, 08 Mar 2010 13:00:00 +0200 1268046000 http://www.baltic-course.com/eng/Technology/?doc=24438 Lithuanian Prime Minister Andrius Kubilius on March 6 announced that US IT giant IBM is considering opening of a research and development department in Lithuania, The Lithuanian Tribune reports. Mon, 08 Mar 2010 13:00:00 +0200 1268046000 http://www.baltic-course.com/eng/finances/?doc=24446 After assuming his new office, Corruption Prevention Bureau chief Normans Vilnitis, when declaring his property, indicated that he had more than EUR 200,000 (LVL 140,000) of debt; however, the TV3 magazine show "Nothing Personal" has established that his wife's debts are at least ten times higher. Mon, 08 Mar 2010 13:00:00 +0200 1268046000 http://www.baltic-course.com/eng/markets_and_companies/?doc=24422 It has become a tradition for the commissioners to discuss the policy issues in the European Parliament. The new EU Commissioner responsible for fisheries and maritime affairs, Maria Damanaki presented at the end of February the Green Paper on the reform of the common fisheries policy to the plenary session of the European Parliament. Mon, 08 Mar 2010 12:00:00 +0200 1268042400