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, 19 Aug 2019 07:05:59 +0300 Baltic Course, The baltic-course@baltic-course.com dmitrijs@mansbirojs.lv AS PNB Bankas's new shareholders and Management Board announcement http://www.baltic-course.com/eng/legislation/?doc=150832 On Sunday evening, a statement was published on the website and on the pages of the National Bank of the Bank of new shareholders and the bank's board. Below is the full text of the statement. Sun, 18 Aug 2019 22:45:00 +0300 1566157500 Number of children in Latvia has dropped by 4.3% in eight years http://www.baltic-course.com/eng/analytics/?doc=150827 There were 359,000 children in Latvia early this year, which is by 16,000 or 4.3% fewer than in 2010, according to te Central Statistical Bureau. Fri, 16 Aug 2019 19:20:00 +0300 1565972400 airBaltic Training Pilot Academy to Build New Aircraft Hangar in Liepaja http://www.baltic-course.com/eng/good_for_business/?doc=150825 airBaltic Training has launched the construction of a new aircraft hangar in Liepaja. Today, on August 16, 2019, airBaltic together with Transport Minister of the Republic of Latvia Tālis Linkaits, partners from International Airport Liepaja, Liepaja’s city council and construction company LTD PICHE, gathered to celebrate the next step of the airBaltic new aircraft hangar construction process at International Airport Liepaja by inserting Time Capsule in the foundation of the hangar. Fri, 16 Aug 2019 19:10:00 +0300 1565971800 Two Estonians charged in Finland's largest ever money laundering case http://www.baltic-course.com/eng/legislation/?doc=150826 Finnish authorities are accusing two men originally from Estonia of extensive money laundering and the Finnish National Bureau of Investigation (NBI) believes that Russian organized crime is behind the money laundering scheme, Finnish public broadcaster Yle reported on Friday reffered LETA. Fri, 16 Aug 2019 19:10:00 +0300 1565971800 Port of Oslo Joining as a Speaker http://www.baltic-course.com/eng/forums/?doc=150824 On September 11, 2019, in Kaliningrad, at the 11th International Baltic Transport Forum, experts from different countries will share their vision of the development of the region. Fri, 16 Aug 2019 18:50:00 +0300 1565970600 Latvian talents explore working and living in Finland http://www.baltic-course.com/eng/forums/?doc=150815 Next week (19-24 Aug.), five international talents will visit Finland. The winners are from Singapore, Lithuania, Latvia, India and Albania and were selected from more than a thousand applicants. They will visit with their families and explore daily life, work and free time activities in Turku Region, informed Talent Turku and Talent Call Turku campaign organizators. Fri, 16 Aug 2019 16:40:00 +0300 1565962800 Enforcing sustainability: modern challenges and needed reforms (I) http://www.baltic-course.com/eng/modern_eu/?doc=150813 The global sustainable agenda requires the states to take all necessary measures (“what it takes”) to implement UN sustainable development goals by 2030. Generally, these measures involve three spheres of national governance: social, environmental and economic; but none of them shall be effective without adequate reforms in existing national education and training policies. Fri, 16 Aug 2019 14:20:00 +0300 1565954400 40% of PNB Banka clients are senior citizens http://www.baltic-course.com/eng/finances/?doc=150811 According to information from the Financial and Capital Market Commission (FKTK), 40% of PNB Banka's clients are senior citizens, reported LETA/BNS. Fri, 16 Aug 2019 13:45:00 +0300 1565952300 Citadele Bank to pay guaranteed compensation to PNB Banka customers http://www.baltic-course.com/eng/finances/?doc=150812 Citadele Bank will pay guaranteed compensation to PNB Banka customers, Jelena Lebedeva, head of the Financial and Capital Market Commission's (FCMC) Resolution and Guarantee Funds Division, told LETA on Friday. Fri, 16 Aug 2019 13:45:00 +0300 1565952300 FCMC suspends the provision of financial services by JSC PNB Banka and decides on the unavailability of deposits http://www.baltic-course.com/eng/legislation/?doc=150803 The European Central bank (ECB) as a direct supervisor of JSC PNB Banka, on 15th of August, 2019 decided to recognize the bank as failing or likely to fail financial institution. Whereas the European Single Resolution Board (SRB) has decided not to take resolution of JSC PNB Banka, which means not to take actions to stabilize the Bank’s activities, announced Financial and Capital Market Commission (FCMC). Thu, 15 Aug 2019 22:00:00 +0300 1565895600 Latvia: In the 2nd quarter, significant upturn in the number of tourists from Spain http://www.baltic-course.com/eng/analytics/?doc=150801 Latest data of the Central Statistical Bureau (CSB) show that 781.1 thousand visitors stayed at Latvian tourist accommodation establishments in the 2nd quarter of 2019, which is 1.1% more than in the 2nd quarter of 2018. Thu, 15 Aug 2019 21:00:00 +0300 1565892000 U.S. Efforts To Derail Russian Pipelines To Europe Have Failed Since The 1960s. Will Nord Stream 2 Be Any Different? http://www.baltic-course.com/eng/energy/?doc=150796 U.S. President Donald Trump will fly to Europe later this month to pursue a goal his predecessors going back to John F. Kennedy and Ronald Reagan failed to achieve -- derailing a Kremlin-backed energy-export pipeline. Thu, 15 Aug 2019 19:50:00 +0300 1565887800 Estonia: Elering pays out EUR 5.3 mln in renewable energy subsidy in July http://www.baltic-course.com/eng/energy/?doc=150795 Estonian transmission system operator (TSO) Elering paid out altogether 5.3 mln euros in renewable energy support and high-efficiency cogeneration support in July, reported LETA/BNS. Thu, 15 Aug 2019 18:50:00 +0300 1565884200 In II quarter 2019, the unemployment rate in Lithuania stood at 6.1% http://www.baltic-course.com/eng/analytics/?doc=150792 In II quarter 2019, the unemployment rate stood at 6.1% and, against I quarter 2019, decreased by 0.4 percentage points, against the respective period 2018, increased by 0.2 percentage points. Thu, 15 Aug 2019 16:40:00 +0300 1565876400 Employment of 50–74 year olds the highest in 10 years http://www.baltic-course.com/eng/analytics/?doc=150791 According to Statistics Estonia, the employment of 50–74 year olds keeps growing. The number of employed people of that age group is the highest in 10 years Thu, 15 Aug 2019 16:20:00 +0300 1565875200 In the 2nd quarter of 2019, Latvian unemployment rate constituted 6.4% http://www.baltic-course.com/eng/analytics/?doc=150790 Results of the Labour Force Survey conducted by the Central Statistical Bureau (CSB) show that in the 2nd quarter of 2019 Latvian unemployment rate constituted 6.4%. Compared to the previous quarter, unemployment rate fell by 0.5 percentage points, and compared to the rate recorded a year ago, it dropped by 1.3 percentage points. Thu, 15 Aug 2019 16:00:00 +0300 1565874000 Russia's Gazprom supplied 170 mln cubic meters of gas to Estonia in H1 http://www.baltic-course.com/eng/energy/?doc=150783 The Russian state-owned gas company Gazprom supplied 170 mln cubic meters or approximately 1,747 gigawatt-hours of natural gas to Estonia in the first six months of 2018, 30% less than during the same period last year, informed LETA/BNS. Thu, 15 Aug 2019 10:40:00 +0300 1565854800 Consolidated turnover of SAF Tehnika telecommunications equipment maker grows 8% in past FY http://www.baltic-course.com/eng/Technology/?doc=150784 Consolidates unaudited turnover of SAF Tehnika telecommunications equipment maker in the 2018/2019 financial year was EUR 14.443 mln, up 8 % from the previous year, while the group’s consolidated unaudited loss was EUR 414,299, almost twice as large as in the previous financial year, the company said in its statement to the Nasdaq Riga stock exchange. Thu, 15 Aug 2019 10:40:00 +0300 1565854800 Draugiem Group company printful posts EUR 11.461 mln in 2018 turnover http://www.baltic-course.com/eng/good_for_business/?doc=150781 Printful Latvia, a company of IT Draugiem Group, last year posted EUR 11.461 mln in turnover, while the company’s profit was EUR 4.229 mln, according to Firmas.lv business database writes LETA. Thu, 15 Aug 2019 10:20:00 +0300 1565853600 Estonia: Ekspress Grupp invests up to EUR 2 mln in automation of production process http://www.baltic-course.com/eng/good_for_business/?doc=150782 AS Printall, a wholly-owned subsidiary of AS Ekspress Grupp, has entered into agreements to purchase semi-finished product collection systems for magazine web press and flow-feed systems for binding machines with loading equipment for semi-finished product for an investment of up to 1.9 mln euros, informed LETA/BNS. Thu, 15 Aug 2019 10:20:00 +0300 1565853600 Lithuania's Novaturas turnover up 1% to EUR 99.8 mln http://www.baltic-course.com/eng/good_for_business/?doc=150779 Novaturas, one of the largest tour operators in the Baltic states, posted 99.8 mln euros in revenue in the first seven months of this year, up 1% from the same period last year, informed LETA/BNS. Thu, 15 Aug 2019 09:20:00 +0300 1565850000 Swedbank Estonia to lower management fees for 2nd pillar funds http://www.baltic-course.com/eng/finances/?doc=150780 Swedbank Estonia is about to cut the management fees for second pillar pension funds by about one-fifth from September, reported LETA/BNS. Thu, 15 Aug 2019 09:20:00 +0300 1565850000 Latvians to trade in Belarusian N-plant's electricity, bypassing Lithuania http://www.baltic-course.com/eng/baltic_states_cis/?doc=150778 With Lithuania taking steps to block market access to electricity generated by Belarus' Astravyets Nuclear Power Plant (NPP), Latvia's electricity transmission grid operator is planning to import electrical energy from the facility under construction close to the Lithuanian border, informed LETA/BNS. Wed, 14 Aug 2019 19:50:00 +0300 1565801400 Karavela turnover amounted to EUR 25 mln in H1 http://www.baltic-course.com/eng/good_for_business/?doc=150775 Fish cannery Karavela turned over EUR 25 mln in January-June, which is a slight increase on the first half of 2018, the company's marketing director and co-owner Janis Endele told LETA. Wed, 14 Aug 2019 16:10:00 +0300 1565788200 Operator of Latvia's Elkor retail chain raises turnover 4.2% in 2018 http://www.baltic-course.com/eng/good_for_business/?doc=150774 ETG, the operator of Latvia's Elkor retail chain, closed 2018 with 52.353 mln euros in turnover, up 4.2% against a year before, and a loss of EUR 1.055 mln in contrast to a profit made in 2017, according to the company's financial report available at Firmas.lv, reported LETA. Wed, 14 Aug 2019 16:00:00 +0300 1565787600 Tallinn Digital Summit 2019 to focus on future of AI http://www.baltic-course.com/eng/forums/?doc=150769 The Tallinn Digital Summit 2019, which is to be held in the Estonian capital on Sept. 16-17, will feature experts and ministers of 20 countries and focus on artificial intelligence (AI) and its impact on the future, reported LETA/BNS. Wed, 14 Aug 2019 15:20:00 +0300 1565785200 Latvian hospitals, Emergency Medical Service short of more than 1,000 medics, nurses http://www.baltic-course.com/eng/markets_and_companies/?doc=150770 Latvian hospitals and Emergency Medical Service are short of more than 1,000 medic, nurses and other health care professionals, according to the information presented at the Saeima social and labor affairs committee meeting today, reported LETA. Wed, 14 Aug 2019 15:20:00 +0300 1565785200 There are signs within the strong labour market that the economy is cooling http://www.baltic-course.com/eng/direct_speech/?doc=150771 The labour market remains favourable for employees. The unemployment rate was 5.1% in the second quarter. The number of short-term workers from abroad rose noticeably. Employers in industry have become more pessimistic about continued growth in employment. Wed, 14 Aug 2019 15:20:00 +0300 1565785200 GDP and employment both up by 0.2% in the euro area http://www.baltic-course.com/eng/analytics/?doc=150765 Seasonally adjusted GDP rose by 0.2% in both the euro area (EA19) and in the EU28 during the second quarter of 2019, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union. In the first quarter of 2019, GDP had grown by 0.4% in the euro area and by 0.5% in the EU28, informed Eurostat. Wed, 14 Aug 2019 14:50:00 +0300 1565783400 Assault death rate in the EU highest in the Baltic States http://www.baltic-course.com/eng/analytics/?doc=150764 With 4.6 assault-related deaths per 100 000 inhabitants, Latvia registered the highest rate among the EU Member States in 2016. Two other Baltic Member States, Lithuania (3.6 deaths due to assault per 100 000 inhabitants) and Estonia (2.7) also recorded relatively high rates of death due to assault, informed Eurosta. Wed, 14 Aug 2019 14:10:00 +0300 1565781000 Latvia: In the 2nd quarter of 2019, construction output grew by 1% http://www.baltic-course.com/eng/analytics/?doc=150754 The latest data compiled by the Central Statistical Bureau of Latvia (CSB) show that, compared to the 2nd quarter of 2018, in the 2nd quarter of 2019 construction output1 increased by 1% (according to calendar adjusted data at constant prices). Construction output in construction of buildings rose by 4.6%, in specialised construction activities did not change, whereas in civil engineering it dropped by 3.8%. Wed, 14 Aug 2019 11:45:00 +0300 1565772300 Alexela to open 1st public LNG filling station in Baltics http://www.baltic-course.com/eng/good_for_business/?doc=150752 Alexela will on Wednesday formally open a liquefied natural gas (LNG) filling station at Juri near Tallinn, which is the first public LNG filling station in Estonia and the Baltics, reported LETA/BNS. Wed, 14 Aug 2019 11:20:00 +0300 1565770800 Olainfarm pharmaceutical group looking for new CEO in international tender http://www.baltic-course.com/eng/markets_and_companies/?doc=150753 Latvia’s listed Olainfarm pharmaceutical group is organizing an international tender to pick a new chairman for its management board, the company said in a statement to Nasdaq Riga. Wed, 14 Aug 2019 11:20:00 +0300 1565770800 Estonia's Apollo Group opens 1st new concept KFC restaurant in Riga http://www.baltic-course.com/eng/good_for_business/?doc=150751 Estonia's leading entertainment provider Apollo Group OU opened its first new concept Kentucky Fried Chicken (KFC) restaurant in the Latvian capital Riga on Aug. 8. In Tallinn, the first KFC restaurant will be opened in October, reported LETA/BNS. Wed, 14 Aug 2019 11:00:00 +0300 1565769600 Latvia's 2020 budget will be its largest yet - PM Karins http://www.baltic-course.com/eng/finances/?doc=150748 Next year Latvia’s budget will be as large as never before and exceed EUR 10 bn, Prime Minister Krisjanis Karins (New Unity) said today in an interview with the Morning Panorama program of Latvian Television. Wed, 14 Aug 2019 10:00:00 +0300 1565766000 Latvian state recovers part of sum Winergy wind park has to repay by court order http://www.baltic-course.com/eng/legislation/?doc=150747 The Latvian Environment Protection and Regional Development Ministry has recovered part of the EUR 2.13 mln Winergy wind park has to repay the Latvian state in line with the court order, LETA learned from the ministry. Wed, 14 Aug 2019 09:50:00 +0300 1565765400 VNI state property manager to unilaterally take over construction site of New Riga Theater http://www.baltic-course.com/eng/real_estate/?doc=150745 Valsts Nekustamie Ipasumi (VNI), the state-owned company in charge of managing state properties, will unilaterally take over the construction site of the New Riga Theater, Ojars Valkers, head of the company’s legal department, informed LETA. Wed, 14 Aug 2019 09:10:00 +0300 1565763000 Turnover of Gunvor's Estonian unit drops due to smaller one-off revenues http://www.baltic-course.com/eng/markets_and_companies/?doc=150746 Provider of oil shipment agent services Gunvor Services AS saw its turnover decline 4.15% year on year to 15.8 mln euros in 2018 as a result of a reduction in one-off revenues, informed LETA/BNS. Wed, 14 Aug 2019 09:00:00 +0300 1565762400 EUR 639 mln paid out in pensions, family allowances in Estonia in Q2 http://www.baltic-course.com/eng/finances/?doc=150737 The Estonian Social Insurance Board paid out over 639 mln euros in pensions, disability allowances and family allowances in the second quarter of 2019, informed LETA/BNS. Tue, 13 Aug 2019 13:45:00 +0300 1565693100 Estonian startup Make Commerce launching operations in Lithuania http://www.baltic-course.com/eng/good_for_business/?doc=150735 Make Commerce, an electronic business payments processing startup owned by Estonia's Inbank and the Omniva Group, is launching operations in Lithuania, informed LETA/BNS. Tue, 13 Aug 2019 13:20:00 +0300 1565691600 Lithuanian Railways' Jan-Jul revenue up 2 pct to EUR 266 mln http://www.baltic-course.com/eng/good_for_business/?doc=150736 Lithuania's state-run railway group Lietuvos Gelezinkeliai (Lithuanian Railways) reported 2% growth in revenue for January through July 2019 amid an increase in passenger traffic and a decline in freight shipments, reported LETA/BNS. Tue, 13 Aug 2019 13:20:00 +0300 1565691600 Liwathon bought Vopak's oil terminals at Muuga for EUR 33 mln http://www.baltic-course.com/eng/good_for_business/?doc=150725 Liwathon, a holding of UK-based investor Barclay Rowland, paid 32.8 million euros for Vopak E.O.S, the largest independent oil products terminal operator in the Baltic region, reported LETA/BNS. Tue, 13 Aug 2019 12:00:00 +0300 1565686800 Lithuania’s Smiltynes Perkela plans to buy new ferry http://www.baltic-course.com/eng/transport/?doc=150728 Lithuanian ferry operator Smiltynes Perkela that carries vehicles and passengers to the Curonian Spit, is considering purchase of another ferry. The new ferry might be built in Lithuania or in a neighboring country, for example, Latvia, informed LETA/BNS. Tue, 13 Aug 2019 11:45:00 +0300 1565685900 Prime Ministers of the Baltic States to mark the 30th anniversary of the Baltic Way in Riga http://www.baltic-course.com/eng/baltic_states/?doc=150729 On the occasion of the 30th anniversary of the Baltic Way, Prime Minister Krišjānis Kariņš has invited Jüri Ratas, Prime Minister of Estonia, and Saulius Skvernelis, Prime Minister of Lithuania, to visit Latvia on 23 August. The officials will hold a meeting, as well as attend celebration events, informed Sabīne Spurķe Press Secretary to Cabinet of Ministers Tue, 13 Aug 2019 11:45:00 +0300 1565685900 Amount of fresh milk supplied by Latvian dairy farmers up 6.7% in July http://www.baltic-course.com/eng/good_for_business/?doc=150727 The amount of fresh milk supplied by Latvian dairy farmers in July this year rose 6.7% from the same period of last year to 74,027 tons, according to the information from the Latvian Agricultural Data Center. Tue, 13 Aug 2019 11:20:00 +0300 1565684400 Latvia: Grant competition launched for co-financing of development cooperation and global education projects http://www.baltic-course.com/eng/baltic_states_cis/?doc=150726 The Latvian Foreign Ministry launches a grant project competition "Support for Development Cooperation and Development (Global) Education Projects Funded by the European Commission and Other International Aid Donors in the Recipient Countries Defined by the Republic of Latvia and in the Republic of Latvia", LETA learned from the ministry. Tue, 13 Aug 2019 11:10:00 +0300 1565683800 Belarusians removed from Lithuania's GIPL tender due to ties with Russia - documents http://www.baltic-course.com/eng/baltic_states/?doc=150724 The Lithuanian government removed a Belarusian firm from the tender process for a Gas Interconnector Poland-Lithuania (GIPL) construction contract due to its business ties with Russian companies and contacts with individuals deemed as posing risks, according to documents available to LETA/BNS. Tue, 13 Aug 2019 10:10:00 +0300 1565680200 Electricity prices fall across region on higher wind power output - Lithuania's Litgrid http://www.baltic-course.com/eng/energy/?doc=150723 Lithuania's average wholesale electricity market price fell by 2% last week to 49.8 euros per megawatt-hour (MWh), Litgrid said on Tuesday. Tue, 13 Aug 2019 10:00:00 +0300 1565679600 Latvia: No excess pesticide residues found in samples of food products in 2018 http://www.baltic-course.com/eng/markets_and_companies/?doc=150718 No excess pesticide residues were found in samples of food products of plant and animal origin in 2018, the Agriculture Ministry informed LETA. Mon, 12 Aug 2019 17:00:00 +0300 1565618400 McDonald's in five years has invested EUR 5.6 mln in business development in Latvia http://www.baltic-course.com/eng/good_for_business/?doc=150719 US fast food chain McDonald’s in the past five years has invested EUR 5.6 mln in business development in Latvia, said McDonald’s representatives said LETA. Mon, 12 Aug 2019 17:00:00 +0300 1565618400 Estonia: Erasmus+ program supporting learning mobility with EUR 12.5 mln http://www.baltic-course.com/eng/education/?doc=150717 The Archimedes Foundation is distributing altogether 12.5 mln euros for the learning mobility of Estonia's education field in the 2019 round of applications of the European Union's education, youth and sport program Erasmus+, informed LETA/BNS. Mon, 12 Aug 2019 16:40:00 +0300 1565617200 Estonia: Electricity price raised by carbon dioxide quota price in July http://www.baltic-course.com/eng/energy/?doc=150715 The price of electricity was further increased in July 2019 by a hike in the price of the carbon dioxide (CO2) quota, it appears from a July electricity market overview of the Estonian state-owned energy group Eesti Energia citing LETA/BNS. Mon, 12 Aug 2019 16:20:00 +0300 1565616000 Spanish architects' idea named best in Vilnius concert hall competition http://www.baltic-course.com/eng/good_for_business/?doc=150716 Spain's Arquivio Architects tops the ranking of best architectural ideas at an international competition for a national concert hall on the Lithuanian capital's Tauras Hill, Vilnius Municipality said LETA/BNS, Mon, 12 Aug 2019 16:20:00 +0300 1565616000 Motorists warned of possible delays at Lithuanian-Belarusian border checkpoint http://www.baltic-course.com/eng/transport/?doc=150714 Motorists are being warned of possible delays at the Lavoriskes checkpoint on Lithuania's border with Belarus between Monday and Thursday and are advised to choose other routes, reported LETA/BNS. Mon, 12 Aug 2019 16:10:00 +0300 1565615400 The energy transition in the European political context http://www.baltic-course.com/eng/direct_speech/?doc=150699 There is a real need to connect two debates that are happening simultaneously in the European political space: the discussion around the 2050 decarbonization strategy and the issue of guaranteeing the daily energy security of our continent. Mon, 12 Aug 2019 12:00:00 +0300 1565600400 New Novatek LNG cargo arrives in Lithuania's Klaipeda http://www.baltic-course.com/eng/energy/?doc=150700 A new smaller cargo of liquefied natural gas (LNG) from Russia' Baltic Sea port of Vysotsk arrived in the Lithuanian port of Klaipeda on Monday. It's the Russian company's second shipment this month, informed LETA/BNS. Mon, 12 Aug 2019 10:10:00 +0300 1565593800 Environmental management co opens EUR 2.6 mln tire recycling plant in Latvia http://www.baltic-course.com/eng/good_for_business/?doc=150697 The environmental management company SIA Eco Baltia vide has opened a new tire recycling plant in Latvia, which is projected to recycle at least 6,500 tons of tires collected in Estonia and Latvia every year, the company's investment in the plant totaled 2.6 mln euros, informed LETA/BNS. Mon, 12 Aug 2019 09:10:00 +0300 1565590200 SmartLynx Airlines plans to invest EUR 5 mln in Canada Jetlines startup http://www.baltic-course.com/eng/good_for_business/?doc=150698 SmartLynx Airlines in Canada signed an agreement on a EUR 5 million investment in Canada Jetlines startup in order to solve seasonality problems, said SmartLynx Airlines board member Zygimantas Surintas in an interview with LETA. Mon, 12 Aug 2019 09:10:00 +0300 1565590200 Hong Kong-listed fintech company establishes business in Lithuania http://www.baltic-course.com/eng/good_for_business/?doc=150686 The Hong Kong-listed fintech company China Binary New Fintech Group is establishing its business in Lithuania, reported LETA/BNS. Mon, 12 Aug 2019 09:00:00 +0300 1565589600 Estonia: Eften Real Estate Fund III sees revenue increase, profit decline on month in July http://www.baltic-course.com/eng/finances/?doc=150687 Eften Real Estate Fund III net profit declined from 1.7 mln euros in June 2019 to 429,000 euros in July, the fund's sales income for last month grew 2% month on month to 784,000 euros, reported LETA/BNS. Mon, 12 Aug 2019 09:00:00 +0300 1565589600 Latvian Agriculture Ministry urges European Commission to monitor Ukrainian egg producers more closely http://www.baltic-course.com/eng/baltic_states/?doc=150688 The Latvian Agriculture Ministry has called on the European Commission to monitor Ukrainian egg producers more closely in order to protect consumers in the European Union from salmonella infection, LETA was told at the ministry. Mon, 12 Aug 2019 09:00:00 +0300 1565589600 Finnish retailer Stockmann posts EUR 11.2 mln operating loss for H1 http://www.baltic-course.com/eng/markets_and_companies/?doc=150689 The consolidated revenue of the Finnish department store operator Stockmann for the first half-year declined 5.5% to 449.5 mln euros, while the 2.7-mln-euro operating profit turned into an operating loss of 11.2 mln euros, Stockmann told the stock exchange. Mon, 12 Aug 2019 09:00:00 +0300 1565589600 Number of flights in Lithuania's airspace up 1.2% to 27,400 http://www.baltic-course.com/eng/good_for_business/?doc=150690 The total number of flights in Lithuania's airspace rose 1.2 % to 27,400 in July y-o-y, reported LETA/BNS. Mon, 12 Aug 2019 09:00:00 +0300 1565589600 Merks to reconstruct Riga Technical University faculty building for EUR 12 mln http://www.baltic-course.com/eng/good_for_business/?doc=150692 SIA Merks, part of the listed Estonian construction group Merko, and Riga Technical University have entered into the contract for the reconstruction of the university's civil engineering faculty located in Riga, Merko told the stock exchange. Mon, 12 Aug 2019 09:00:00 +0300 1565589600 Amazon establishes subsidiary in Estonia http://www.baltic-course.com/eng/good_for_business/?doc=150693 The US retail giant Amazon has founded a subsidiary Amazon Data Services Estonia OU, fueling speculation that the company seeks to establish a data center or start providing cloud services in Estonia, according to the Postimees information reported LETA/BNS. Mon, 12 Aug 2019 09:00:00 +0300 1565589600 Latvia: Unemployment level at 6% in July http://www.baltic-course.com/eng/analytics/?doc=150694 In late July Latvia’s registered unemployment rate was 6% of the economically active population, the same as at the end of June, LETA was told at the State Employment Agency. Mon, 12 Aug 2019 09:00:00 +0300 1565589600 Estonian economist: Export slowdown attributable to decline in shale oil products' export http://www.baltic-course.com/eng/analytics/?doc=150695 The deceleration of export growth to 4 % in the first half-year is largely attributable to a low result in June, the outcome was foremost affected by a strong decline in the export of shale oil products, Swedbank chief economist Tonu Mertsina said LETA/BNS. Mon, 12 Aug 2019 09:00:00 +0300 1565589600 Finmin: Attracting foreign talent to Estonia should be encouraged http://www.baltic-course.com/eng/markets_and_companies/?doc=150696 Finance Minister Martin Helme said that the temporary employment of foreign top specialists in Estonia should be encourages as it would help bring world-class know-how here and thus also support Estonia's economic growth, informed LETA/BNS. Mon, 12 Aug 2019 09:00:00 +0300 1565589600 Agricultural Organizations' Cooperation Council notes significant labor shortages in agricultural sector during summer http://www.baltic-course.com/eng/markets_and_companies/?doc=150691 There are significant labor shortages in the agricultural sector during the summer season, as the Agricultural Organizations' Cooperation Council Chairman Edgars Treibergs told LETA. Mon, 12 Aug 2019 08:00:00 +0300 1565586000 In June, Latvian foreign trade turnover was 10.3% lower than year before http://www.baltic-course.com/eng/analytics/?doc=150680 Provisional data of the Central Statistical Bureau (CSB) show that in June 2019 foreign trade turnover of Latvia amounted to EUR 2.19 bn at current prices constituting 10.3% less than a year before, of which exports value of goods fell by 8.2% and imports value of goods by 11.9 %. Fri, 09 Aug 2019 19:20:00 +0300 1565367600 Latvia and Lithuania leaders among EU countries for drowned residents http://www.baltic-course.com/eng/analytics/?doc=150677 In 2016 there were 5 537 deaths of European Union (EU) residents caused by accidental drowning and submersion. The figure has been falling each year since a peak of 6 090 deaths in 2013 and corresponds to an EU average of 1.1 deaths per 100 000 residents, informed Eurostat. Fri, 09 Aug 2019 18:00:00 +0300 1565362800 Lithuania: The July inflation provisional estimate calculated based on the harmonised index of consumer prices (HICP) http://www.baltic-course.com/eng/analytics/?doc=150674 Statistics Lithuania informs that based on non-final data, in July 2019, against July 2018, annual inflation provisional estimate calculated based on the HICP stands at 2.5%. Fri, 09 Aug 2019 13:20:00 +0300 1565346000 Estonia: In June, trade decreased y-o-y http://www.baltic-course.com/eng/analytics/?doc=150673 According to Statistics Estonia, in June 2019, compared to June 2018, the exports and imports of goods decreased by 8%. Trade in mineral products decreased the most. In the first half-year, compared to the same period of the previous year, the exports of goods increased by 5% and imports by 2%. Fri, 09 Aug 2019 13:10:00 +0300 1565345400 Piche developer to build industrial Green Park next to Riga Airport http://www.baltic-course.com/eng/good_for_business/?doc=150667 Latvia’s Piche developer has purchased a land property for more than EUR 2 million next to Riga International Airport for building Green Park, a complex of storehouses, production plants and office buildings, the company informed BC. Fri, 09 Aug 2019 11:20:00 +0300 1565338800 Electricity prices in Lithuania rise 9.6% in July from June - LET http://www.baltic-course.com/eng/energy/?doc=150665 Lithuania's average electricity market price rose by 9.6% in July compared with June, but fell by 10% from a year earlier, Lietuvos Energijos Tiekimas (LET) said. Fri, 09 Aug 2019 11:00:00 +0300 1565337600 Lithuania's Maxima Group selling Polish IT firm Infinite http://www.baltic-course.com/eng/markets_and_companies/?doc=150666 Emperia Holding, a Polish company controlled by Vilnius-based Maxima Grupe, is selling its IT subsidiary, Infinite, and will plow the proceeds into expansion in Poland, informed LETA/BNS. Fri, 09 Aug 2019 11:00:00 +0300 1565337600 Lines might form at Terehova border crossing point http://www.baltic-course.com/eng/transport/?doc=150661 Lines might form at Latvian-Russian border crossing point in Terehova due to renovation works, the State Border Guard informed LETA. Fri, 09 Aug 2019 09:00:00 +0300 1565330400 Estonia: The number of visitors from Finland was the lowest of recent years in the second quarter http://www.baltic-course.com/eng/analytics/?doc=150662 Tourists from Finland were one third of all visitors, but the number of them was down. Foreign tourists spent 420 mln euros in Estonia while Estonian residents spent 300 mln euros abroad. The number of visits by tourists from Estonia to Ukraine rose notably, informed Bank of Estonia. Fri, 09 Aug 2019 09:00:00 +0300 1565330400 French energy services co Idex sets up business in Lithuania http://www.baltic-course.com/eng/good_for_business/?doc=150663 France's energy services company Idex International has registered a company in Lithuania, reported LETA/BNS. Fri, 09 Aug 2019 09:00:00 +0300 1565330400 Levits and Pabriks agree to necessity for slight increase in defense budget http://www.baltic-course.com/eng/markets_and_companies/?doc=150664 President Egils Levits and Defense Minister Artis Pabriks (For Development/For) are both in agreement that the defense budget must remain at two percent of GDP, and also the possibility for a slight increase, LETA was informed by the Presidential Chancery. Fri, 09 Aug 2019 09:00:00 +0300 1565330400 Lithuania: The world's first digital collector coin is under way http://www.baltic-course.com/eng/finances/?doc=150650 The Bank of Lithuania has signed a contract for programming the world’s first digital collector coin which, together with its physical version, is expected to be issued at the beginning of 2020. Thu, 08 Aug 2019 19:00:00 +0300 1565280000 Estonian realtor: Avg price of Tallinn apartments to remain around EUR 2,000 per sq m http://www.baltic-course.com/eng/real_estate/?doc=150649 The manager of 1Partner Kinnisvara real estate company, Martin Vahter, said that the average price per square meter of Tallinn apartments will remain at around 2,000 euros, reported LETA/BNS. Thu, 08 Aug 2019 18:20:00 +0300 1565277600 airBaltic Rolls Out Special Lithuanian Airbus A220-300 Livery http://www.baltic-course.com/eng/good_for_business/?doc=150648 Due to the growing demand of airBaltic services in Lithuania airBaltic has created a special livery of its Airbus A220-300 aircraft dedicated to Lithuania. Now airBaltic’s Airbus A220-300 aircraft registered as YL-CSK is carrying the colours of the Lithuanian flag and the name of its capital – Vilnius, airBaltic`s representative informed BC. Thu, 08 Aug 2019 18:10:00 +0300 1565277000 The main focus is on long-term cooperation http://www.baltic-course.com/eng/forums/?doc=150652 Join the International Baltic Transport Forum taking place in Kaliningrad, Russia on the 11th & 12th September 2019. Thu, 08 Aug 2019 18:00:00 +0300 1565276400 Latvian company to import electricity to Lithuania from Kaliningrad http://www.baltic-course.com/eng/energy/?doc=150646 Latvian company Spectrum Baltic plans to import electricity to Lithuania from the Russian region of Kaliningrad. Lithuania's National Energy Regulatory Council confirmed it to LETA/BNS on Thursday it had issued the company the necessary permit. Thu, 08 Aug 2019 17:25:00 +0300 1565274300 Lithuanian Jewish Community reopens headquarters, synagogue http://www.baltic-course.com/eng/legislation/?doc=150647 The Jewish Community of Lithuania said on Thursday announced it was reopening its headquarters and Vilnius Synagogue, informed LETA/BNS. Thu, 08 Aug 2019 17:25:00 +0300 1565274300 Latvia: During the year, the average level of consumer prices increased by 2.9% http://www.baltic-course.com/eng/analytics/?doc=150645 The latest data of the Central Statistical Bureau (CSB) show that in July 2019, compared to July 2018, the average level of consumer prices* rose by 2.9%. Prices of goods increased by 2.9% and prices of services by 2.8%. Thu, 08 Aug 2019 16:00:00 +0300 1565269200 After two years of poor harvests, farmers can finally breath a sigh of relief - agriculture organization http://www.baltic-course.com/eng/good_for_business/?doc=150644 After two years of poor harvests, farmers can finally breath a sigh of relief, as not only the grain harvest is expected to be good this year, but also the fruit and berry harvest, the head of Latvian Council for Cooperation of Agriculturalist Organizations (LOSP) Edgars Treibergs told LETA. Thu, 08 Aug 2019 11:20:00 +0300 1565252400 Fair taxation: new European rules would resolve tax disputes quicker and easier http://www.baltic-course.com/eng/modern_eu/?doc=150634 New EU rules will ensure quicker and more effective resolution of tax disputes among the states, making life easier and offering much more tax certainty for businesses and individuals experiencing double taxation issues. Thu, 08 Aug 2019 09:00:00 +0300 1565244000 Latvia: Police raid seven power plants on suspicions of MPC fraud http://www.baltic-course.com/eng/legislation/?doc=150635 Officers of the he Organized Crime Enforcement Department (ONAP) of the State Police today conducted searches at seven power plants across Latvia subsidized under the mandatory procurement component (MPC) system, accroding to the TV3 News reports informed LETA. Thu, 08 Aug 2019 09:00:00 +0300 1565244000 Electronic systems plant to be built in Ogre for EUR 6.28 mln http://www.baltic-course.com/eng/good_for_business/?doc=150636 Ogre Region Council has signed a EUR 6.28 mln contract with company Arcers on construction of an electronics plant at 74 Akmenu Street in Ogre in order to revitalize the degraded area that is part of Parogre Industrial Zone, as Ogre Region Council informed LETA. Thu, 08 Aug 2019 09:00:00 +0300 1565244000 Latvia: Peat producer Compaqpeat raises turnover 4.9% in 2018 http://www.baltic-course.com/eng/good_for_business/?doc=150637 Latvian peat producer Compaqpet turned over EUR 11.909 mln in 2018, which is an increase of 4.9% against a year before, while the companys profit rose 32 % to EUR 1.229 mln, according to information available at Firmas.lv writes LETA. Thu, 08 Aug 2019 09:00:00 +0300 1565244000 British Airways, Siemens, and Monese Choose Vilnius As Their Next Destination http://www.baltic-course.com/eng/markets_and_companies/?doc=150632 hree international companies, Monese, British Airways, and Siemens were recently selected as the winners of the 2019 Workation Vilnius programme. First launched in 2018, the programme gives international businesses the opportunity to win a week-long workation in the Lithuanian capital. Wed, 07 Aug 2019 16:20:00 +0300 1565184000 Poland's Rafako questions Amber Grid's choice of Alvora as GIPL contract winner http://www.baltic-course.com/eng/baltic_states/?doc=150626 Following Amber Grid's announcement of its intention to award a contract, worth almost 100 million euros, for the construction of the Lithuanian part of the Gas Interconnector Poland-Lithuania (GIPL) to Alvora, Poland's energy facility builder Rafako, another bidder, says the Vilnius-based gas pipeline and engineering network construction company may pose a threat to national security, informed LETA/BNS. Wed, 07 Aug 2019 15:40:00 +0300 1565181600 Latvia: Manufacturing sector growth increasingly constrained by wood industry http://www.baltic-course.com/eng/direct_speech/?doc=150627 Growth in the manufacturing subsectors remains heterogeneous: in some subsectors, growth is hampered by weakening external demand, while others are still facing capacity-related issues on the supply side, i.e. the shortage of equipment and staff. Overall, however, the influence of external factors is becoming more pronounced. Wed, 07 Aug 2019 15:40:00 +0300 1565181600 Estonia:In July, food and clothing had the greatest impact on the change in the consumer price index http://www.baltic-course.com/eng/analytics/?doc=150625 According to Statistics Estonia, the change of the consumer price index in July 2019 was -0.1% compared to June 2019 and 2.1% compared to July of the previous year. Wed, 07 Aug 2019 15:20:00 +0300 1565180400 Estonia: In June, the number of tourists in accommodation establishments increased http://www.baltic-course.com/eng/analytics/?doc=150624 According to Statistics Estonia, in June 2019, a total of 407,000 tourists stayed in accommodation establishments, which is 9% more than in June 2018. The number of both domestic and foreign tourists increased. Wed, 07 Aug 2019 15:10:00 +0300 1565179800 Estonia: Saaremaa rural municipality seeking to relaunch Montu-Ventspils ferry route http://www.baltic-course.com/eng/good_for_business/?doc=150623 The rural municipality of Saaremaa on Tuesday decided that it will start negotiations with the company Kihnu Veeteed regarding the relaunching of the Montu-Ventspils ferry route between Estonia and Latvia, according the Estonian public broadcaster ERR information reported LETA/BNS. Wed, 07 Aug 2019 15:00:00 +0300 1565179200 Estonia: Kuusik accused of episode of physical abuse http://www.baltic-course.com/eng/legislation/?doc=150622 The Viru District Prosecutor's Office has brought charges against former Estonian foreign trade and IT minister Marti Kuusik in relation to an episode of physical abuse, according the Postimees information reports LETA/BNS. Wed, 07 Aug 2019 13:20:00 +0300 1565173200 Lithuanian businesses get warned over bankruptcies in Scandinavia http://www.baltic-course.com/eng/baltic_states/?doc=150620 The number of bankruptcies in the Scandinavian markets important for Lithuania rose faster last year and a similar tendency is expected this year as well, according to the Verslo Zinios business daily writes LETA/BNS. Wed, 07 Aug 2019 13:10:00 +0300 1565172600