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 Thu, 18 Oct 2018 21:27:06 +0300 Baltic Course, The baltic-course@baltic-course.com dmitrijs@mansbirojs.lv Freeport of Riga Authority continues to develop cooperation with China http://www.baltic-course.com/eng/transport/?doc=144360 Last week, the Freeport of Riga Authority together with SIA Riga Container Terminal represented the Freeport of Riga in one of the largest Asian transport and logistics exhibitions "The 13th China (Shenzhen) International Logistics and Transportation Fair" in the Chinese port city of Shenzhen, as well as participated in several major industry events. During the exhibition a meeting with the representatives of the Port of Shenzhen, a partner to the Freeport of Riga, was held, inormed Freeport. Thu, 18 Oct 2018 21:00:00 +0300 1539885600 Tallink repays EUR 120 mln worth of bonds http://www.baltic-course.com/eng/finances/?doc=144361 The listed Estonian shipper Tallink Grupp has repaid in the total amount of 120 million euros senior unsecured bonds worth 900 mln Norwegian kroner that were issued and listed on the Oslo stock exchange in October 2013, informed LETA/BNS. Thu, 18 Oct 2018 20:50:00 +0300 1539885000 Ministries' spending on salaries rises EUR 5.7 mln in 2017 - State Audit Office http://www.baltic-course.com/eng/finances/?doc=144363 Ministries' spending on salaries amounted to EUR 94 million in 2017, which is 6% or EUR 5.7 mln more than in 2016, according to the results of an audit of state and municipal budgets carried out by the State Audit Office. Thu, 18 Oct 2018 20:20:00 +0300 1539883200 Companies have started to borrow more in Estonia http://www.baltic-course.com/eng/direct_speech/?doc=144359 Companies took loans from banks and from elsewhere. Growth in corporate debt could be a sign of increasing investment. Households are borrowing enthusiastically, especially from banks. The risks from the rapid growth in credit are eased by growth in incomes and savings. Thu, 18 Oct 2018 20:00:00 +0300 1539882000 Baltic countries to cooperate closer in development of capital market http://www.baltic-course.com/eng/finances/?doc=144358 The Baltic states will cooperate closer in promoting development of the capital market, the Latvian Finance Ministry reported. Thu, 18 Oct 2018 19:50:00 +0300 1539881400 EBRD to buy EUR 150 mln worth of Luminor bonds http://www.baltic-course.com/eng/finances/?doc=144357 The European Bank for Reconstruction and Development (EBRD) is to invest up to 150 million euros in a series of senior bonds issued by Luminor Estonia under its European Medium Term Note (EMTN) program in order to support the bank in its efforts to become a self-funded and independent pan-Baltic financial institution, informed LETA/BNS. Thu, 18 Oct 2018 19:40:00 +0300 1539880800 Number of newborn in Latvia keeps declining http://www.baltic-course.com/eng/analytics/?doc=144356 Provisional data of the Central Statistical Bureau show that the number of births registered over the first nine months of 2018 (14 680 children) is 1 267 children or 8 % smaller than that registered in the respective period of 2017. Thu, 18 Oct 2018 19:20:00 +0300 1539879600 Largest cyber security conference in Baltics “DSS ITSEC” starts next week http://www.baltic-course.com/eng/forums/?doc=144352 Next week, on October 25th the Data Security Solutions opens the 9th international and vendor independent cyber security conference DSS ITSEC. Thu, 18 Oct 2018 18:20:00 +0300 1539876000 Baltic ministries of culture agree on cooperation in next 4 years http://www.baltic-course.com/eng/baltic_states/?doc=144354 Representatives of the ministries of culture of Estonia, Latvia and Lithuania signed a program of cultural cooperation between the ministries for the next four years in Vilnius on Thursday. Thu, 18 Oct 2018 18:20:00 +0300 1539876000 Tallinn public transport co TLT to buy at least 8 new trams http://www.baltic-course.com/eng/good_for_business/?doc=144355 The Tallinn public transport company Tallinna Linnatranspordi AS (TLT) by December is planning to announce a procurement for the purchase of eight new trams with an option for the purchase another 15 to 20 similar units, informed LETA/BNS. Thu, 18 Oct 2018 18:20:00 +0300 1539876000 Major Sandbox for Energy Infrastructure and Data Launched in Lithuania http://www.baltic-course.com/eng/good_for_business/?doc=144351 Lithuanian energy group Lietuvos Energija (LE), which holds the country’s key assets for energy generation, distribution, supply, balancing and services, has launched an Innovation Hub (leinnovationhub.com) offering open access to infrastructure and data in one of the world’s biggest-ever energy technology sandboxes. Thu, 18 Oct 2018 14:30:00 +0300 1539862200 Tallink orders new LNG-powered shuttle ferry for EUR 250 mln http://www.baltic-course.com/eng/good_for_business/?doc=144341 The listed Estonian shipper Tallink Grupp on Thursday announced the purchase of a 250 mln euro liquefied natural gas (LNG) powered shuttle ferry for the Tallinn-Helsinki route. Thu, 18 Oct 2018 12:30:00 +0300 1539855000 Belarus' road repairs may cause traffic restrictions at Lithuania's Medininkai checkpoint http://www.baltic-course.com/eng/transport/?doc=144340 The Lithuanian State Border Guard Service (VSAT) has warned of possible temporary traffic restrictions at the Medininkai checkpoint due to road repairs in Belarus on the other side of the border, reported LETA/BNS. Thu, 18 Oct 2018 12:10:00 +0300 1539853800 Lithuanian farmers protest in Brussels http://www.baltic-course.com/eng/baltic_states/?doc=144339 Lithuanian farmers, together with their Polish, Latvian and Czech counterparts, are holding a protest in Brussels on Thursday to press their demand for higher EU direct payments, reported LETA/BNS. Thu, 18 Oct 2018 11:50:00 +0300 1539852600 Estonia: Number of real estate transactions up 2% on year in H1 http://www.baltic-course.com/eng/good_for_business/?doc=144337 The total number of transactions carried out on the apartment market in Estonia in the first half of 2018 increased 2% compared with the same period the year before but decreased approximately 5% compared with the second half of 2017, it appears from a market overview of apartment ownership published by the Land Board writes LETA/BNS. Thu, 18 Oct 2018 11:20:00 +0300 1539850800 Klaipeda port operators set new container handling records http://www.baltic-course.com/eng/good_for_business/?doc=144338 Klaipedos Konteineriu Terminalas (Klaipeda Container Terminal, or KKT) and Klaipedos Smelte are setting new container handling records this year, according to the business daily Verslo Zinios reported on Thursday writes LETA/BNS. Thu, 18 Oct 2018 11:20:00 +0300 1539850800 EU farm ministers raise Baltic fish quotas, angering environmentalists http://www.baltic-course.com/eng/markets_and_companies/?doc=144336 European Union ministers agreed on Monday (15 October) to sharply boost catch quotas for western Baltic cod as part of new fishing regulations for next year that angered environmentalists. Thu, 18 Oct 2018 11:00:00 +0300 1539849600 There are three pupils in Latvia’s smallest tenth grade class http://www.baltic-course.com/eng/education/?doc=144334 There are just three pupils in Latvia’s smallest tenth grade class, Education and Science Ministry’s education department director Liga Buceniece said LETA. Thu, 18 Oct 2018 10:40:00 +0300 1539848400 Latvian gasoline imports drop 4%, diesel fuel imports down 12.3% in eight months http://www.baltic-course.com/eng/analytics/?doc=144335 During the first eight months of 2018, Latvian gasoline imports dropped 4% from the respective period a year ago, while diesel fuel imports fell 11.3%, according to the Central Statistical Bureau, writes LETA. Thu, 18 Oct 2018 10:40:00 +0300 1539848400 Commission's Education and Training Monitor encourages reforms in the member states http://www.baltic-course.com/eng/modern_eu/?doc=144333 The 2018 European Commission's Monitor shows that the member states made further progress towards EU-2020 targets in education and training. The Monitor analyses the main challenges for European education systems and presents policies that can make them more responsive to societal and labour market needs. However, differences among countries remain, showing that more reforms are needed. Thu, 18 Oct 2018 10:20:00 +0300 1539847200 A new EU budget: Erasmus program increases twice http://www.baltic-course.com/eng/good_for_business/?doc=144326 According to a new EU budget for 2021-2027, students’ international exchange will be doubled and participants quantity will be arisen from 4 mln till 12 mln people. As commisioner Gunter Ottinger told, every 10th student in Europe could get international expierence at next decade. Wed, 17 Oct 2018 19:20:00 +0300 1539793200 Why inflation rate of close to 3% is healthy for Latvia at this stage http://www.baltic-course.com/eng/direct_speech/?doc=144327 In September, annual inflation exceeded 3% for the first time in 13 months. For the second consecutive year, the consumer price rise in Latvia was slightly faster than in the euro area on average. This article will look at the underlying factors of the above and why an inflation rate close to 3% is a sign of a healthy economy at this stage. Wed, 17 Oct 2018 19:20:00 +0300 1539793200 Latvia ranks 42nd, Lithuania -- 40th and Estonia -- 32nd in World Economic Forum’s Global Competitiveness Index http://www.baltic-course.com/eng/good_for_business/?doc=144322 Latvia ranks 42nd in the World Economic Forum’s (WEF) Global Competitiveness Index, still lagging behind Lithuania and Estonia, according to the latest WEF Global Competitiveness Report. Wed, 17 Oct 2018 18:20:00 +0300 1539789600 An exhibition “100 buildings – one hundred years” opens at the Museum of Estonian Architecture on October 19 http://www.baltic-course.com/eng/forums/?doc=144323 On October 19, an overview exhibition “100 buildings – one hundred years. Estonian history in buildings 1918-2017” will be opened. This exhibition shows remarkable buildings and facilities in Estonia that have been built over the past one hundred years. Wed, 17 Oct 2018 18:20:00 +0300 1539789600 Cadet school to open in Klaipeda next year http://www.baltic-course.com/eng/education/?doc=144324 A cadet school will open in the Lithuanian port city of Klaipeda next September, informed LETA/BNS. Wed, 17 Oct 2018 18:20:00 +0300 1539789600 PM: Estonia's share of Rail Baltic funding must not increase http://www.baltic-course.com/eng/transport/?doc=144320 Prime Minister Juri Ratas said that Estonia must strongly consider whether to move forward with the Rail Baltic railway project should the country's share in the project's funding increase proportionally compared to the current rate, reports LETA/BNS. Wed, 17 Oct 2018 17:25:00 +0300 1539786300 Apranga CEO notes trend toward fewer, but larger clothes stores http://www.baltic-course.com/eng/markets_and_companies/?doc=144319 Major clothing retailers tend to reduce their total store numbers, replacing smaller stores with larger ones located mostly in well-known shopping centers, the chief executive officer of the Baltics' biggest clothing retail group Apranga said on Wednesday citing LETA/BNS. Wed, 17 Oct 2018 17:20:00 +0300 1539786000 Lithuania's Achemos Grupe fires CEO Sabaliauskas http://www.baltic-course.com/eng/markets_and_companies/?doc=144318 Gintautas Kanapeckas was appointed on Wednesday as chief executive officer of Achemos Grupe (Achema Group), one of Lithuania's biggest business conglomerates, replacing Linas Sabaliauskas, who was fired after less than a year in the job, informed LETA/BNS. Wed, 17 Oct 2018 17:00:00 +0300 1539784800 Beer production in Latvia down 6% in eight months http://www.baltic-course.com/eng/analytics/?doc=144307 With 57.04 mln liters of beer produced in Latvia in the first eight months of this year, beer production in Latvia dropped 6% from the same period a year ago, according to the State Revenue Service's data on excised goods writes LETA. Wed, 17 Oct 2018 15:00:00 +0300 1539777600 Annual inflation up to 2.1% in the euro area http://www.baltic-course.com/eng/analytics/?doc=144310 The Euro area annual inflation rate was 2.1% in September 2018, up from 2.0% in August. A year earlier, the rate was 1.5%. European Union annual inflation was 2.2% in September 2018, stable compared to August. A year earlier, the rate was 1.8%. These figures are published by Eurostat, the statistical office of the European Union. Wed, 17 Oct 2018 15:00:00 +0300 1539777600 Estonia to render regulation of parental benefits more flexible http://www.baltic-course.com/eng/finances/?doc=144305 Amendments to the Family Benefits Act will be put to a final vote at the Estonian parliament on Wednesday seeking to grant parents the opportunity to use their parental leave at the same time and take care of their baby together, informed LETA/BNS. Wed, 17 Oct 2018 14:50:00 +0300 1539777000 Bite Latvija has invested EUR 9 mln in upgrade of infrastructure, services http://www.baltic-course.com/eng/good_for_business/?doc=144306 In the first nine months of this year Bite Latvija mobile operator has invested about EUR 9 mln in development of infrastructure and improvement of services, said Bite Latvija head Kaspars Buls. Wed, 17 Oct 2018 14:50:00 +0300 1539777000 Estonia: Drivers demanding EUR 1,000 minimum wage http://www.baltic-course.com/eng/transport/?doc=144304 The Estonian Transport and Road Workers Trade Union (ETTA) has turned to the Union of Estonian Automobile Enterprises to start negotiations for signing an extended sectoral collective agreement on internal goods transport in order to raise the minimum wage to 1,000 euros, reported LETA/BNS. Wed, 17 Oct 2018 14:30:00 +0300 1539775800 Lithuania posts one of EU's largest increases in new car sales - ACEA http://www.baltic-course.com/eng/good_for_business/?doc=144302 New car sales in Lithuania this year continue to grow at one of the fastest rates in the European Union, the latest figures from the European Automobile Manufacturers' Association (ACEA) show. Wed, 17 Oct 2018 10:20:00 +0300 1539760800 Restructuring carried out in Latvian corruption watchdog http://www.baltic-course.com/eng/legislation/?doc=144301 The Latvian Corruption Prevention Bureau (KNAB) has conducted another restructuring, seven experienced officials are leaving their jobs, including six who are retiring, according to the information at the disposal of LETA. Wed, 17 Oct 2018 10:10:00 +0300 1539760200 Estonia: Renewable energy production up 1/5 on year in Q3 http://www.baltic-course.com/eng/good_for_business/?doc=144300 Estonian power plants produced altogether 402 gigawatt-hours (GWh) of renewable energy in the third quarter of 2018, approximately a fifth more than in the same period the year before. Wed, 17 Oct 2018 09:50:00 +0300 1539759000 Poland attacks EU's Gazprom deal in court http://www.baltic-course.com/eng/energy/?doc=144299 Poland's state-run gas firm PGNiG said on Tuesday it filed a complaint with the EU's top court against a controversial deal by the European Commission to settle an anti-trust case against Gazprom, the Kremlin-backed energy giant, reports LETA/BNS. Wed, 17 Oct 2018 09:40:00 +0300 1539758400 Export growth recorded in all Baltic states – Eurostat http://www.baltic-course.com/eng/analytics/?doc=144297 Exports grew in all three Baltic states in the first eight months of this year, the latest figures from the European Union's statistics service, Eurostat, show. Tue, 16 Oct 2018 20:59:00 +0300 1539712740 58 mln euros paid in advance single area payments to Latvian farmers on the first day http://www.baltic-course.com/eng/markets_and_companies/?doc=144295 The Rural Support Service of Latvia on Tuesday paid more than 58 mln euros in advance single area payments to a record number of customers – 36,000, informs LETA referring to the service. Tue, 16 Oct 2018 20:50:00 +0300 1539712200 Baltic economies not overheated yet – Swedbank http://www.baltic-course.com/eng/analytics/?doc=144296 The economic temperature has been rising in the past years and has neared the overheating zone in the Baltic states, but has not reached yet., according to Swedbank’s economic heating index, cities LETA. Tue, 16 Oct 2018 20:50:00 +0300 1539712200 Additional 232 mln euros allotted for co-financing EU projects until end-2018 http://www.baltic-course.com/eng/finances/?doc=144293 Additional 232 mln euros will be allotted from the state budget to co-finance European Union's policy instruments and other foreign financial aid projects in Latvia, informs LETA referring to the Cabinet of Ministers of Latvia. Tue, 16 Oct 2018 20:40:00 +0300 1539711600 Much has been achieved in reducing the number of non-citizens in Latvia since 2008 – Foreign Ministry http://www.baltic-course.com/eng/legislation/?doc=144292 Since 2008, much has been achieved in reducing the number of non-citizens in Latvia, the Foreign Ministry points out in a report to be submitted to the United Nations on economic, social and cultural rights from 2008 to 2017, cities LETA. Tue, 16 Oct 2018 20:30:00 +0300 1539711000 Maxima supermarket collapse in 2013 could have been caused by fire on supermarket's roof – construction engineer http://www.baltic-course.com/eng/legislation/?doc=144294 The roof of Maxima supermarket in Riga's Zolitude neighborhood that collapsed in 2013 could have been damaged by a fire that had occurred while the supermarket was being built, and there were other contributing factors, construction engineer Ivars Sergets testified before Riga Pardaugava Court today, cities LETA. Tue, 16 Oct 2018 20:30:00 +0300 1539711000 Augulis at 16+1 transport ministers meeting call to participate in development of cargo logistics center at Riga airport http://www.baltic-course.com/eng/good_for_business/?doc=144289 Latvian Transport Minister Uldis Augulis during the meeting of China and 16 Central and Eastern European or 16+1 transport ministers called on the member states to participate in development of the cargo logistics center at international airport Riga and development of intermodal terminal under the Rail Baltica project, informs LETA referring to the Latvian Transport Ministry. Tue, 16 Oct 2018 20:20:00 +0300 1539710400 Share of Baltic residents at risk of poverty higher than EU average – Eurostat http://www.baltic-course.com/eng/analytics/?doc=144290 In 2017, 112.9 mln people, or 22.5% of the population, in the European Union (EU) were at risk of poverty or social exclusion. These figures are published by Eurostat, the statistical office of the European Union. Tue, 16 Oct 2018 20:20:00 +0300 1539710400 Former MP Klavins sentenced to 120 hours of community service and repay 9,948 euros to the national budget http://www.baltic-course.com/eng/legislation/?doc=144291 The Prosecutor General's Office has sentenced former Greens/Farmers MP Askolds Klavins 120 hours community service and ordered him to repay 9,948 euros to the national budget, informs LETA. Tue, 16 Oct 2018 20:20:00 +0300 1539710400 EC proposal on the Cohesion Policy is not acceptable, since it does not reduce inequality among EU Member States – Rinkevics http://www.baltic-course.com/eng/baltic_states/?doc=144288 On October 16, 2018, Latvian Foreign Minister Edgars Rinkevics took part in the meeting of the European Union’s (EU) General Affairs Council in Luxembourg, at which ministers discussed progress in negotiations on the EU Multiannual Financial Framework for 2021 to 2027, including competitiveness-related programs (for instance, the Horizon Europe research program, and the Connecting Europe Facility, which provides funding for the Rail Baltica project as well as defense and security, informs LETA. Tue, 16 Oct 2018 20:10:00 +0300 1539709800 Latvijas Auto general meeting sacks association's council http://www.baltic-course.com/eng/transport/?doc=144287 Council of Latvijas Auto association of Latvian freight and passenger road transportation companies was dismissed at the association's general meeting today, informs LETA. Tue, 16 Oct 2018 17:20:00 +0300 1539699600 Estonian parliament to start discussing increasing competitiveness of Estonian shipping http://www.baltic-course.com/eng/good_for_business/?doc=144286 The Estonian parliament started handling a bundle of amendments to the Law of Ship Flag and Ship Registers Act, the aim of which is to increase the competitiveness of Estonian shipping and restore a cargo fleet sailing under the Estonian flag, informs LETA/BNS. Tue, 16 Oct 2018 17:10:00 +0300 1539699000 New fuel labels in the EU states: Commission’s initiative http://www.baltic-course.com/eng/energy/?doc=144267 This October all European customers at public filling station will notice new harmonized fuel symbols on fuel dispensers and fuel nozzles. It will give drivers better information on the suitability of fuels for their vehicles while helping them avoid miss-fuelling and provide adequate information on the environmental impact of the fuels used. Tue, 16 Oct 2018 11:10:00 +0300 1539677400 Problematic convergence: consumer goods’ consumption in the EU http://www.baltic-course.com/eng/modern_eu/?doc=144266 There are striking differences among the EU states on households’ expenses for food, beverages and general consumption. Only about 10% of households’ income is used for consumer goods in such states as Luxembourg, Netherlands and the UK. Over 33% of income is used in households in Lithuania-33,7% and in Rumania -38,2%. Thus, the EU’s internal market’s convergence is far from perfect. Tue, 16 Oct 2018 10:55:00 +0300 1539676500 Surplus on the current account continues to increase in Lithuania http://www.baltic-course.com/eng/analytics/?doc=144265 The Bank of Lithuania published the balance of payments data for August 2018, which shows that the surplus on the current account balance amounted to 136.8 mln euros and, compared to July 2018, increased by 21.7%. Tue, 16 Oct 2018 10:45:00 +0300 1539675900 The surplus on the goods and services account in August was the largest this year – Eesti Pank http://www.baltic-course.com/eng/analytics/?doc=144264 The flash estimate put the Estonian current account at 43 mln euros in surplus in August 2018. Turnover was up on the previous August for both goods and services, though faster growth in imports meant the total surplus of goods and services shrank to 108 mln euros. Tue, 16 Oct 2018 10:30:00 +0300 1539675000 Lithuania's 2019 budget to help improve people's quality of life – PM http://www.baltic-course.com/eng/finances/?doc=144262 Lithuania's budget for 2019 will be socially responsible and will help improve the quality of life for a large part of the population, Prime Minister Saulius Skvernelis said on Tuesday, cities LETA/BNS. Tue, 16 Oct 2018 10:05:00 +0300 1539673500 Latvian president promulgates bill on publishing KGB files http://www.baltic-course.com/eng/legislation/?doc=144263 Latvian President Raimonds Vejonis promulgated the bill on publishing files of former Soviet security service KGB, informs LETA referring to the announcement published in Latvijas Vestnesis official gazette. Tue, 16 Oct 2018 10:05:00 +0300 1539673500 airBaltic carries 18% more passengers during first three quarters of 2018 http://www.baltic-course.com/eng/good_for_business/?doc=144260 The Latvian airline airBaltic has carried 3 168 893 or 18% more passengers during the first nine months of 2018 than in the same period last year to its network spanning Europe, Scandinavia, Russia, CIS and the Middle East. In September 2018, 398 846 passengers or 16% more than last year travelled with airBaltic, informed the company’s representative. Tue, 16 Oct 2018 09:50:00 +0300 1539672600 Eastern Partnership should be maintained as a priority in the European Union’s foreign policy – Rinkevics http://www.baltic-course.com/eng/modern_eu/?doc=144257 On October 15, 2018, Latvian Foreign Minister Edgars Rinkevics took part in the meeting of the European Union’s (EU) Foreign Affairs Council in Luxembourg, at which EU foreign ministers discussed preparations for the European Council of October 18, as well as developments in Venezuela, with the focus on the humanitarian situation in the country, the migration crisis and its impact on the neighboring countries, informs LETA. Tue, 16 Oct 2018 09:40:00 +0300 1539672000 Riga Airport's passenger turnover increases 16.8% in January-September 2018 http://www.baltic-course.com/eng/good_for_business/?doc=144258 Riga International Airport's passenger turnover in January-September amounted to 5.382 mln passengers, an increase of 16.8% on the first nine months of 2017, informs LETA. Tue, 16 Oct 2018 09:40:00 +0300 1539672000 EfTEN Capital launched its fourth real estate fund with a first closing of 95 mln euros http://www.baltic-course.com/eng/finances/?doc=144255 EfTEN Capital, the leading real estate asset manager in the Baltics, has an addition to its fund family by launching its fourth fund „Usaldusfond EfTEN Real Estate Fund 4“ which will focus on Baltic commercial real estate investments. The first closing was completed by Baltic institutional investors and EfTEN Capital partners at 95 mln euros of committed capital. Tue, 16 Oct 2018 08:15:00 +0300 1539666900 Digital Summit to bring IT ministers, entrepreneurs and experts from 14 countries to Tallinn http://www.baltic-course.com/eng/good_for_business/?doc=144236 Ministers, entrepreneurs and technology experts from 14 digitally minded countries across the world will convene tomorrow for Tallinn Digital Summit 2018. The summit will focus on artificial intelligence and global trade in data, as well as their implications for governance, economies, and societies as a whole. Mon, 15 Oct 2018 20:05:00 +0300 1539623100 Latvian imports and exports of forestry products up in eight months 2018 http://www.baltic-course.com/eng/good_for_business/?doc=144246 During the first eight months of 2018, Latvia imported 610.964 mln euros worth of forestry products, up 16.5% against the same period a year ago. Latvia exported 1.715 bln euros worth of forestry products, up 14.5% against the same period last year, informs LETA referring to information released by the Agriculture Ministry. Mon, 15 Oct 2018 16:50:00 +0300 1539611400 Latvian tax authority launches criminal procedure against former high-ranking State Police official http://www.baltic-course.com/eng/legislation/?doc=144249 A former high-ranking State Police official is a suspect in a criminal procedure launched by the State Revenue Service (Valsts ieņēmumu dienests, VID) on large-scale money laundering and tax evasion of more than 200,000 euros, informs LETA referring to the VID. Mon, 15 Oct 2018 16:50:00 +0300 1539611400 Estonian prosecutors say nothing criminal in 'roof money' http://www.baltic-course.com/eng/legislation/?doc=144247 The Office of the Prosecutor General has said that there is nothing criminal in the allocation of specific amounts of money under the Estonian state budget at the discretion of the government, dubbed 'roof money,' and will not open a criminal investigation based on an application filed by the political movement Estonia 200, informs LETA/BNS. Mon, 15 Oct 2018 15:55:00 +0300 1539608100 Lithuania plans to export ready-to-bake pizzas, pets to Japan http://www.baltic-course.com/eng/baltic_export/?doc=144250 Lithuania plans to export ready-to-bake food products and pets to Japan, informs LETA/BNS referring to the Agriculture Ministry. Mon, 15 Oct 2018 15:55:00 +0300 1539608100 Revenue of Tere, Farmi Piimatoostus dairy group totals 82.2 mln euros http://www.baltic-course.com/eng/good_for_business/?doc=144251 The revenue of the Estonian dairy group Tere AS and Farmi Piimatoostus AS rose 3.2% or 2.6 mln euros on year to 82.2 mln euros in the first nine months of the year, with export making up 20% of it, informs LETA/BNS. Mon, 15 Oct 2018 15:55:00 +0300 1539608100 RSU and MikroTik launch gene study initiative to improve childhood cancer treatment http://www.baltic-course.com/eng/education/?doc=144231 Rīga Stradiņš University (RSU) in cooperation with Latvian IT company MikroTik has launched an initiative aimed at personalizing and improving treatments and the outlook for survival for childhood cancer patients. Mon, 15 Oct 2018 15:25:00 +0300 1539606300 Lithuanian central banker doesn't expect ECB interest rate decisions until fall of 2019 http://www.baltic-course.com/eng/modern_eu/?doc=144248 The European Central Bank (ECB) should end its quantitative easing, or bond-buying, program, this year, as expected, but it is unlikely to make decisions on a possible interest rate hike until at least the fall of 2019, informs LETA/BNS referring to Vitas Vasiliauskas, the Lithuanian central bank governor and a member of the ECB Governing Council. Mon, 15 Oct 2018 15:25:00 +0300 1539606300 Elering pays out 7.8 mln euros in renewable energy subsidy in September http://www.baltic-course.com/eng/energy/?doc=144252 Estonian transmission system operator Elering paid out altogether 7.8 mln euros in renewable energy subsidy in September 2018, while the TSO has paid out a total of 58.5 mln euros in renewable energy support and high-efficiency cogeneration support in the first nine months of 2018, informs LETA/BNS. Mon, 15 Oct 2018 15:25:00 +0300 1539606300 Everything for housing, the environment and energy in Kipsala http://www.baltic-course.com/eng/forums/?doc=144230 Materials and tools for house repair, solutions for more efficient heating of rooms, smart transport, consultations regarding purchase of a house or apartment and much more for smart management at the trade fairs “House. Apartment 2018” and “Environment and Energy 2018” from 19?21 October. In Kipsala anyone can learn about the most recent trends in energy efficiency, construction and real estate. Mon, 15 Oct 2018 15:15:00 +0300 1539605700 Estonian company develops vital information system for goverments of Ukraine, Moldova http://www.baltic-course.com/eng/Technology/?doc=144227 An Estonian IT company in cooperation with the Estonian Foreign Ministry and United States Department of State has developed a vital security-related information system for Ukraine and Moldova, informs LETA/BNS. Mon, 15 Oct 2018 13:50:00 +0300 1539600600 Tallinn transport company TLT to acquire 100 new gas buses with 25 mln euros http://www.baltic-course.com/eng/good_for_business/?doc=144222 The supervisory board of the Tallinn public transport company Tallinna Linnatranspordi AS (TLT) has approved the company's investment plan for 2019, according to which TLT next year will purchase 100 new environmentally friendly gas buses and the estimated cost of the procurement is to be 25 mln euros, informs LETA/BNS. Mon, 15 Oct 2018 13:40:00 +0300 1539600000 European socdems discussed future of left-wing ideas in Vilnius http://www.baltic-course.com/eng/modern_eu/?doc=144223 Vilnius hosted an international forum of European social democrats over the weekend when Baltic and EU social democrats discussed the future of left-wing ideas, informs LETA/BNS. Mon, 15 Oct 2018 13:40:00 +0300 1539600000 Lithuania's major drugstore chains fear watchdog probe's influence on business http://www.baltic-course.com/eng/legislation/?doc=144224 Limedika, Gintarine Vaistine and Norfos Vaistine, operating one of the largest drugstore chains in Lithuania, have turned to court with a request to order the Competition Council to return information which, they say, is not related to the ongoing probe into competition-restricting agreements, the competition watchdog launched earlier this year, informs LETA/BNS. Mon, 15 Oct 2018 13:40:00 +0300 1539600000 Czech company to build Riisipere traction substation for 2.2 mln euros http://www.baltic-course.com/eng/transport/?doc=144225 The state-owned railway infrastructure company Estonian Railways (AS Eesti Raudtee) entered into a 2.2 mln euro contract with Czech company Elektrizace zeleznic Praha a.s. for the design and construction of the new Riisipere traction substation, informs LETA/BNS. Mon, 15 Oct 2018 13:40:00 +0300 1539600000 Problems in banking and transit sectors hinder Latvia's economic development – Dombrovskis http://www.baltic-course.com/eng/baltic_states/?doc=144226 Problems in the banking sector and in transit hinder Latvia's economic development, informs LETA referring to the European Commission Vice-President Valdis Dombrovskis. Mon, 15 Oct 2018 13:40:00 +0300 1539600000 Unaudited consolidated revenue of PRFoods down 30.9% on year in September http://www.baltic-course.com/eng/markets_and_companies/?doc=144221 The unaudited consolidated sales revenue of the listed Estonian fish products seller PRFoods decreased by 30.9% on year in September, totaling 5.2 mln euros, informs LETA/BNS. Mon, 15 Oct 2018 13:25:00 +0300 1539599100 Lithuania's Novaturas turnover up 30% http://www.baltic-course.com/eng/tourism/?doc=144220 Novaturas, one of the largest tour operators in Lithuania, posted 140.2 mln euros in turnover in January-September of 2018, up 30% from the same period last year, informs LETA/BNS. Mon, 15 Oct 2018 13:20:00 +0300 1539598800 Riga Airport's passenger turnover increases 16.8% in January-September http://www.baltic-course.com/eng/good_for_business/?doc=144219 Riga International Airport's passenger turnover in January-September of 2018 amounted to 5.382 mln passengers, an increase of 16.8% on the first nine months of 2017, informs LETA. Mon, 15 Oct 2018 13:10:00 +0300 1539598200 Electricity market price set to grow 20% in Lithuania http://www.baltic-course.com/eng/energy/?doc=144218 Lithuania's National Commission for Energy Control and Prices is due to decide on Monday, October 15, 2018, on a 20-percent increase in the electricity market price, which will affect the ultimate power tariffs for households, informs LETA/BNS. Mon, 15 Oct 2018 12:59:00 +0300 1539597540 Latvian government supports 2019 draft state budget http://www.baltic-course.com/eng/good_for_business/?doc=144217 The Cabinet of Ministers of Latvia endorsed the Finance Ministry's 2019 draft state budget on Monday, October 15, 2018, informs LETA. Mon, 15 Oct 2018 11:45:00 +0300 1539593100 Estonian, Latvian and Finnish TSOs continue discussions about harmonizing the regional gas markets http://www.baltic-course.com/eng/good_for_business/?doc=144208 The transmission system operators (TSOs) in Estonia, Latvia and Finland – Elering, Conexus Baltic Grid, Gasum and Baltic Connector – have signed a Memorandum of Understanding on the matters to be solved, if the countries decide to harmonize the regional gas markets in the future, informed the Elering AS representative. Mon, 15 Oct 2018 09:40:00 +0300 1539585600 Industrial production up by 1.0% in euro area Up by 0.8% in EU28 http://www.baltic-course.com/eng/analytics/?doc=144198 In August 2018 compared with July 2018, seasonally adjusted industrial production rose by 1.0% in the euro area (EA19) and by 0.8% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. Fri, 12 Oct 2018 16:20:00 +0300 1539350400 Latvian ports raise cargo turnover 2.2% in January-September http://www.baltic-course.com/eng/good_for_business/?doc=144196 In the first nine months of this year, all Latvian ports together handled 48.72 mln tons of cargo, up 2.2% from the same period in 2017, according to the information released by the Transport Ministry. Fri, 12 Oct 2018 15:40:00 +0300 1539348000 Freight shipping by rail in Latvia up 8.4% in January-September http://www.baltic-course.com/eng/good_for_business/?doc=144195 Transportation of international rail freight increased by 9.3% against January-September 2017 to 35,066 mln tons in the first nine months of 2018, while the amount of domestic freight carried by rail fell 15.4 % to 1.044 mln tons. Transportation of transit freight grew 10.2% y-o-y to 32.53 tons, import freight rose 0.5% to 2.313 mln tons and export freight dropped 11.1% to 222,800 tons. The amount of rail freight shipped through Latvian ports grew 5.8% y-o-y to 28.594 mln tons in the nine months of 2018, and deliveries of transit freight by land jumped 57.9% to 3.936 mln tons. In 2017, transportation of rail freight in Latvia fell 8.4% from a year before to 43.792 mln tons, which included 33.314 mln tons carried in the first nine months of 2017. According to the press secretary of Latvijas Dzelzcels (Latvian Railway), the increase in freight turnover by rail in September was mainly due to traditional types of cargo, mainly coal. Fri, 12 Oct 2018 15:20:00 +0300 1539346800 Estonian, Latvian and Finnish TSOs continue discussions about harmonizing the regional gas markets http://www.baltic-course.com/eng/good_for_business/?doc=144194 The transmission system operators (TSOs) in Estonia, Latvia and Finland - Elering, Conexus Baltic Grid, Gasum and Baltic Connector – have signed a Memorandum of Understanding on the matters to be solved, if the countries decide to harmonize the regional gas markets in the future. Fri, 12 Oct 2018 15:10:00 +0300 1539346200 Security service searches tourist offices offering trips from Estonia to Crimea http://www.baltic-course.com/eng/tourism/?doc=144192 Estonia's Internal Security Service (KAPO) this week searched the offices of five tourism enterprises suspected of offering travel services in Russian-occupied Crimea, Russian website of the public broadcaster ERR reported. Fri, 12 Oct 2018 13:20:00 +0300 1539339600 Central banks of Lithuania and Ukraine will strengthen cooperation in the field of financial innovation http://www.baltic-course.com/eng/finances/?doc=144193 The Bank of Lithuania and the National Bank of Ukraine have agreed to work together to facilitate development of financial innovations. The Co-operation Agreement in the Area of Innovation Development between the two institutions was signed on the sidelines of Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group being held in Nusa Dua, Indonesia, where Fintech issues are discussed at the highest level for the first time. Fri, 12 Oct 2018 13:20:00 +0300 1539339600 Kesko has become one of the leaders of e-commerce in the Baltic States http://www.baltic-course.com/eng/good_for_business/?doc=144191 Kesko Senukai Digital, a company which belongs to the Finish Kesko concern group, closed the transaction in which it acquired 100 % of the shares of the online retail market group 1A and became one of the leading e-commerce platform operators in the Baltic countries. Fri, 12 Oct 2018 13:10:00 +0300 1539339000 UNESCO will Hold Media and Information Literacy Conference in Kaunas, Lithuania http://www.baltic-course.com/eng/forums/?doc=144185 For the first time in the Baltic States and the Northern Europe, the Feature Conference of Global Media and Information Literacy Week will be held at Vytautas Magnus University (VMU) in Kaunas, Lithuania on 24-25 October. The event, the 8th Media and Information Literacy and Intercultural Dialogue (MILID) Conference, will welcome about 300 participants from all over the world, including leading experts from the USA, France, Great Britain, and other countries. Fri, 12 Oct 2018 11:20:00 +0300 1539332400 Lithuania, UK, several other EU countries press for sanctions over cyber-attack http://www.baltic-course.com/eng/baltic_states/?doc=144183 Lithuania, Britain and several other EU member states have called on the European Union to expand the scope of the bloc's sanctions regime to include cyber-attacks, reported LETA/BNS. Fri, 12 Oct 2018 10:40:00 +0300 1539330000 Vilnius Factoring Company sought to buy Debitum Fori http://www.baltic-course.com/eng/markets_and_companies/?doc=144184 Vilnius Factoring Company, a Lithuania-registered factoring services company headed by Italian businessman Renato La Fianza, has unsuccessfully tried to purchase the invoice financing services provider Debitum Fori, the Delfi.lt news website reported on Friday. Fri, 12 Oct 2018 10:40:00 +0300 1539330000 New light-vehicle registrations in the Baltic States grew by 12% in 3Q 2018 http://www.baltic-course.com/eng/good_for_business/?doc=144182 Analysis of fully-processed registrations’ data performed by AV Automotive Research / AutoTyrimai, based on source data obtained from Regitra (Lithuania), CSDD (Latvia) and Maanteeamet (Estonia), show that new light-vehicle (M1&N1) registrations in the Baltic States grew by 12.2% to 21’503 units in III quarter 2018, BC learned from AutoTyrimai. Fri, 12 Oct 2018 10:20:00 +0300 1539328800 Finance Ministry projectsLatvia's annual inflation for 2018 at 2.5%, unemployment at 7.7% http://www.baltic-course.com/eng/analytics/?doc=144180 The Finance Ministry projects Latvia’s average annual inflation for this year at 2.5% and unemployment at 7.7 %, the ministry said in Latvia’s draft general budget for the financial year 2019, which the government is expected to review at its extraordinary meeting next Monday, informed LETA. Fri, 12 Oct 2018 10:10:00 +0300 1539328200 airBaltic Introduces New Cabin Crew Uniforms http://www.baltic-course.com/eng/good_for_business/?doc=144181 The Latvian airline airBaltic starting from October 15, 2018 will gradually introduce new, improved uniforms for flight attendants and pilots. In order to guarantee the best uniform design that would meet all flight crew needs, first an internal sketch contest was held. Designer Inese Alhimoviča then created the new airBaltic uniform collection, informed airBaltic. Fri, 12 Oct 2018 10:10:00 +0300 1539328200 Tartu adopts EUR 6 mln extra budget http://www.baltic-course.com/eng/finances/?doc=144179 The council of Tartu on Thursday approved the city's second supplementary budget for 2018 with a size of 5.9 mln euros, reports LETA/BNS. Fri, 12 Oct 2018 09:50:00 +0300 1539327000 Tallinna Kaubamaja Q3 revenue up 4% at EUR 167 mln http://www.baltic-course.com/eng/good_for_business/?doc=144178 The unaudited consolidated sales revenue of listed Estonian retailer Tallinna Kaubamaja Group in the third quarter of the year was 167.1 mln euros, 3.9% bigger than in the same three-month period of 2017, the retailer told the stock exchange. Fri, 12 Oct 2018 09:40:00 +0300 1539326400 Vitas Vasiliauskas: Preparations necessary amid strengthening global risks http://www.baltic-course.com/eng/direct_speech/?doc=144176 Global growth continues on a strong footing, yet elevated risks, notably in international trade, are starting to exert downward pressure on the main engines of economic activity – near-term momentum in the US, China and the euro area will be weaker than previously expected. Attending the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group held in Nusa Dua, Indonesia, this week, Vitas Vasiliauskas, Chairman of the Board of the Bank of Lithuania, will discuss rising downside risks and the need to gear up in order to withstand them. Thu, 11 Oct 2018 18:00:00 +0300 1539270000 Lithuanian-Swedish power cable NordBalt comes only following repairs http://www.baltic-course.com/eng/energy/?doc=144175 The Lithuanian-Swedish power cable NordBalt has come online on Thursday following less than two months of repairs, Lithuanian power transmission system operator Litgrid confirmed it to LETA/BNS. Thu, 11 Oct 2018 17:55:00 +0300 1539269700 Merko's Latvian arm to start building Lidl logistics center in Riga next week http://www.baltic-course.com/eng/good_for_business/?doc=144172 Construction firm Merks, a company of the listed Estonian construction group Merko Ehitus, is due to start building a logistics center for retailer Lidl Latvia in Riga next week, informed LETA. Thu, 11 Oct 2018 17:30:00 +0300 1539268200 FDI projects in Latvia up 39% in 2017 - survey http://www.baltic-course.com/eng/good_for_business/?doc=144174 With 53 new projects financed with foreign direct investment (FDI) launched in Latvia in 2017, FDI projects grew 39% from 2016, according to a survey on FDI attraction conducted by Ernst&Young (EY), citing LETA. Thu, 11 Oct 2018 17:30:00 +0300 1539268200