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 Tue, 22 Oct 2019 12:05:01 +0300 Baltic Course, The baltic-course@baltic-course.com dmitrijs@mansbirojs.lv Lithuania expects to launch register of beneficial ownership in 2021 http://www.baltic-course.com/eng/markets_and_companies/?doc=152108 A center register of beneficial owners – individuals who ultimately own or control a legal entity – is expected to the launched in Lithuania in 2021, according the Verslo Zinios information on Tuesday reported LETA/BNS. Tue, 22 Oct 2019 11:45:00 +0300 1571733900 Estonia: Health Board imposes EUR 600 penalty payment on company marketing MMS http://www.baltic-course.com/eng/legislation/?doc=152107 The Estonian Health Board has imposed a penalty payment of 600 euros on a company by the name of OU Living Minerals for continuously marketing a mouthwash containing the banned substance chlorine dioxide, also marketed as the Miracle Mineral Supplement (MMS), informed LETA/BNS. Tue, 22 Oct 2019 11:40:00 +0300 1571733600 Latvia in the “global world”: getting together http://www.baltic-course.com/eng/modern_eu/?doc=152106 International Business Networking Consortium, IBNC is a well known company providing networking opportunities for business partners inviting inspiring speakers. During its several years of existence, the IBNC arranged numerous very successful events, which enabled participants to open new marketing channels at local and international levels. Tue, 22 Oct 2019 11:10:00 +0300 1571731800 RZD increases discount on transit of coal from Kazakhstan through Baltic ports, Belarus http://www.baltic-course.com/eng/good_for_business/?doc=152101 Russian Railways (RZD) has increased its discount on the transit of Kazakh coal through Russia for shipment from ports in Latvia, Lithuania, and Estonia or across the Belarusian-Polish border, as well as the return of empty wagons, informed LETA/BNS- Interfax. Mon, 21 Oct 2019 22:00:00 +0300 1571684400 EU: Back Energy imports on the rise http://www.baltic-course.com/eng/analytics/?doc=152098 The decrease of primary energy production in the European Union (EU) over the past decades has resulted in an increase in the imports of primary energy and energy products, informed Eurostat. Mon, 21 Oct 2019 20:40:00 +0300 1571679600 Bank of Lithuania provides recommendations on raising capital through STOs http://www.baltic-course.com/eng/finances/?doc=152104 The Bank of Lithuania has issued the Guidelines on Security Token Offering (STO) which provide greater regulatory clarity and aim at higher investor protection. Mon, 21 Oct 2019 20:00:00 +0300 1571677200 Estonian fishing co Reyktal to start NW Atlantic prawn fishing next fall http://www.baltic-course.com/eng/markets_and_companies/?doc=152102 The Estonian deep sea fishing company AS Reyktal is to once again start prawn fishing in the Northwest Atlantic, the stocks of which are restoring again after several years, according the daily Postimees information reports LETA/BNS. Mon, 21 Oct 2019 19:20:00 +0300 1571674800 Investors from Latvia, Ukraine, Czech Republic eyeing Olainfarm - chairman http://www.baltic-course.com/eng/markets_and_companies/?doc=152103 Investors from Latvia, Ukraine and the Czech Republic have been eyeing Latvia's Olainfarm pharmaceutical group, Gundars Berzins, chairman of the Olainfarm supervisory board, said on Latvian Radio on Monday, cited LETA. Mon, 21 Oct 2019 19:20:00 +0300 1571674800 Construction price index continues upward trend http://www.baltic-course.com/eng/analytics/?doc=152086 According to Statistics Estonia, the change of the construction price index in the 3rd quarter of 2019 was 0.4% compared to the previous quarter and 2.1% compared to the 3rd quarter of 2018. Mon, 21 Oct 2019 12:10:00 +0300 1571649000 Estonia: Producer price index continued to decrease in September http://www.baltic-course.com/eng/analytics/?doc=152087 n September 2019, the producer price index of industrial output fell by 0.1% compared to August 2019 and by 1.0% compared to September 2018. Mon, 21 Oct 2019 12:10:00 +0300 1571649000 UK dragging us into its own domestic affairs - Latvian MP http://www.baltic-course.com/eng/baltic_states/?doc=152081 The UK parliament with its decisions is dragging us into Britain's own domestic political processes, but Latvia has already stated that it will back another Brexit delay if the UK seeks one, Rihards Kols (National Alliance), chairman of the Saeima Foreign Affairs Committee, told LETA. Mon, 21 Oct 2019 11:10:00 +0300 1571645400 Estonia: Nordecon to build 1st 2 phases of Kalaranna Quarter for EUR 40 mln http://www.baltic-course.com/eng/good_for_business/?doc=152080 OU Kalaranna Kvartal, a Pro Kapital Grupp group company, and listed Estonian builder Nordecon AS have signed a 40.5 mln euro agreement for the design and construction of the first two phases of the Kalaranna Quarter in Tallinn, Nordecon told the stock exchange. Mon, 21 Oct 2019 10:40:00 +0300 1571643600 Estonia's Operail to construct 1st LNG freight locomotive in Baltics http://www.baltic-course.com/eng/good_for_business/?doc=152079 Estonia's state-owned transport and logistics company Operail has entered into a cooperation agreement with the Latvian company DiGas to develop the first cargo-carrying liquefied natural gas (LNG) freight locomotive in the region, reported LETA/'BNS. Mon, 21 Oct 2019 10:30:00 +0300 1571643000 Ostapenko wins 3rd WTA title in her career at Luxembourg Open http://www.baltic-course.com/eng/good_for_business/?doc=152077 Latvia's second-ranked women's tennis player Alona Ostapenko on Sunday defeated Germany's Julia Goerges in straight sets in the final match of the Luxembourg Open, reported LETA/BNS. Mon, 21 Oct 2019 10:20:00 +0300 1571642400 Lithuania set to replace ambassadors to Russia, UNESCO, NATO http://www.baltic-course.com/eng/markets_and_companies/?doc=152078 Lithuania is set to replace its ambassadors to Russia, UNESCO and NATO over the upcoming few months as the terms of the incumbent ambassadors are expiring, reported LETA/BNS. Mon, 21 Oct 2019 10:20:00 +0300 1571642400 1st component for AI based applications reaches Estonia's source code repository http://www.baltic-course.com/eng/Technology/?doc=152068 The first base component for artificial intelligence (AI) based applications, which all parties from the public and private sectors are fee to use and develop in accordance with their needs, has reached the source code repository of the Estonian state, reported LETA/BNS. Fri, 18 Oct 2019 20:20:00 +0300 1571419200 Electric power generation in Latvia decreases 11.2% in nine months http://www.baltic-course.com/eng/energy/?doc=152069 During the first nine months of 2019, Latvia generated 4,519 gigawatt-hours (GWh) of electric power, down 11.2% from the same period last year, according to an electricity market review released by Augstsprieguma Tikls transmission system operator, reported LETA/BNS. Fri, 18 Oct 2019 20:20:00 +0300 1571419200 Hackers fake press release about Lithuania asking US to move nuclear weapons http://www.baltic-course.com/eng/baltic_states/?doc=152067 Hackers have sent out a fake press release claiming to be from the Lithuanian Foreign Ministry and alleging that President Gitanas Nauseda has asked the United States to build a military base in Lithuania and relocate nuclear weapons to the country, reported LETA/BNS. Fri, 18 Oct 2019 20:00:00 +0300 1571418000 Operail begins freight transport in Finland http://www.baltic-course.com/eng/good_for_business/?doc=152075 International transport and logistics company Operail has launched a subsidiary in Finland, Operail Finland Oy, and is investing 50 million euros to begin freight transport on Finnish railways, informed Operail representatives. Fri, 18 Oct 2019 20:00:00 +0300 1571418000 Riga councillors postpone vote on budget amendments to late October http://www.baltic-course.com/eng/finances/?doc=152066 The Riga City Council financial and administration affairs committee has postponed until October 28 revision of this year's budget amendments, reorte Fri, 18 Oct 2019 19:40:00 +0300 1571416800 Delfi's Latvian company acquires stake in Altero financial comparison platform http://www.baltic-course.com/eng/markets_and_companies/?doc=152064 A/S Delfi, a 100% subsidiary of listed Estonian media holding AS Ekspress Grupp, signed a contract on Friday to acquire 25.5% of the shares in financial comparison and brokerage platform company SIA Altero, reported LETA/BNS. Fri, 18 Oct 2019 19:20:00 +0300 1571415600 Lithuanian dairy products subject to 25% US import tariff http://www.baltic-course.com/eng/baltic_states/?doc=152065 ithuanian cheeses, yoghurts and other dairy products are now subject to a new 25-percent import tariff imposed by the United States, according to the US Federal Register, writes LETA/BNS. Fri, 18 Oct 2019 19:20:00 +0300 1571415600 LGC Cargo, Gargzdu Gelezinkelis denied permits to carry freight across Lithuania again http://www.baltic-course.com/eng/transport/?doc=152062 LGC Cargo, a Lithuanian railway services company that is indirectly linked to former Latvian political heavyweights and Russian Railways (RZD) via its Latvian majority shareholder Baltic Transit Service, has failed this year, just like last year, to obtain the necessary permit to carry freight across Lithuania, reported LETA/BNS. Fri, 18 Oct 2019 19:10:00 +0300 1571415000 Court approves plan of Valmieras Stikla Skiedra legal protection proceedings and respective process implementation http://www.baltic-course.com/eng/legislation/?doc=152063 Vidzeme District Court has adopted a decision approving the plan of Valmieras Stikla Skiedra fiberglass maker's legal protection proceedings and the respective process implementation, according to the company's statement to the Nasdaq Riga stock exchange. Fri, 18 Oct 2019 19:10:00 +0300 1571415000 H1 output of Estonia's food industry worth EUR 800 mln http://www.baltic-course.com/eng/good_for_business/?doc=152048 Estonian food industry companies produced some 800 million euros' worth of output in the first six moths of 2019, of which one-third was exported, wirtes LETA/BNS. Fri, 18 Oct 2019 12:20:00 +0300 1571390400 Lithuania to buy six American Black Hawk helicopters for around EUR 300 mln http://www.baltic-course.com/eng/markets_and_companies/?doc=152046 The leadership of Lithuania's national defense system has decided to buy six American Black Hawk helicopters for around 300 mln euros, reported LETA/BNS. Fri, 18 Oct 2019 12:00:00 +0300 1571389200 PRFoods: Fish processing companies should use more Estonian fish http://www.baltic-course.com/eng/markets_and_companies/?doc=152047 Fish processing companies in Estonia should use more local raw materials than is the case now, PRFoods Board Member Indrek Kasela said LETA/BNS. Fri, 18 Oct 2019 12:00:00 +0300 1571389200 Klaipeda leads Baltic ports in terms of cargo traffic for 4th year in a row http://www.baltic-course.com/eng/good_for_business/?doc=152045 The Lithuanian seaport of Klaipeda has posted the best cargo handling figures among all Baltic ports for four successive years now, reported LETA/BNS. Fri, 18 Oct 2019 11:45:00 +0300 1571388300 Latvenergo named Latvia's most valuable company again in 2019 http://www.baltic-course.com/eng/good_for_business/?doc=152044 Power utility Latvenergo has been named Latvia's most valuable company for 11th year in a row, according to the latest annual Top 101 of Latvia's most valuable enterprises, writes LETA. Fri, 18 Oct 2019 11:20:00 +0300 1571386800 Latvia: 14 thousand births recorded over the nine months of 2019 http://www.baltic-course.com/eng/analytics/?doc=152038 Provisional data of the Central Statistical Bureau show that during the nine months of 2019, 14 130 births were registered, which is 550 children fewer than in the respective period of 2018. Decline in the birth number is observed for the fourth year in a row. Thu, 17 Oct 2019 20:40:00 +0300 1571334000 EU leaders endorse new Brexit deal http://www.baltic-course.com/eng/baltic_states/?doc=152037 European leaders on Thursday endorsed a Brexit withdrawal agreement drawn up between London and the European Union, which will now go to the British parliament for ratification, informed LETA-AFP. Thu, 17 Oct 2019 20:10:00 +0300 1571332200 Estonia: Gender pay gap continues to be present in all economic activities http://www.baltic-course.com/eng/analytics/?doc=152040 According to the preliminary data of Statistics Estonia, in October 2018, the gender pay gap was present in all economic activities. The pay gap was biggest in financial and insurance activities (32.2%) and smallest in transportation and storage (1.9%). Thu, 17 Oct 2019 20:00:00 +0300 1571331600 Latvia: Companies' desire and ability to borrow has reached record heights this year http://www.baltic-course.com/eng/good_for_business/?doc=152036 In 2019, companies' ability and willingness to borrow continued to increase, reaching the highest levels in the past four years as the lending index in the business segment rose from 110 points last year to 114 index points this year, according to the Finance Latvia Association’s Lending Index in the business segment. Thu, 17 Oct 2019 19:20:00 +0300 1571329200 Latvia has highest proportion of people at risk of poverty or social exclusion in Baltics - Eurostat http://www.baltic-course.com/eng/analytics/?doc=152035 In 2018, 109.2 mln people, or 21.7% of the population, in the European Union (EU) were at risk of poverty or social exclusion. This means that they were in at least one of the following three conditions: at risk of poverty after social transfers (income poverty), severely materially deprived or living in households with very low work intensity. Thu, 17 Oct 2019 19:10:00 +0300 1571328600 Estonia: Baltika clothing company posts EUR 3.3 mln in nine-month loss http://www.baltic-course.com/eng/markets_and_companies/?doc=152039 The listed Estonian garment manufacturer and seller Baltika Group ended the third quarter of 2019 with a net loss of 1.2 mln euros, while the net loss for the same period last year was 814,000 euros, the loss for the first nine months of the year increased from 1.7 mln euros last year to 3.3 mln euros this year. Thu, 17 Oct 2019 19:00:00 +0300 1571328000 Lithuania: Kamida Group Will Invest 12 mln EUR Into Logistics Center http://www.baltic-course.com/eng/good_for_business/?doc=152033 Kamida Group, a transportation, logistics and agricultural equipment rental service provider, is starting to develop a 15,800 square meter logistics center with a four-story administration complex close to the western bypass in Kaunas. The project, called WESTHUB, will cost 12 mln EUR. It is scheduled to be completed next year, the Kamida group representatives informed BC. Thu, 17 Oct 2019 18:00:00 +0300 1571324400 Latvia is celebrating 100th anniversary of Latvian National Institutions for Culture, Education and Science at UNESCO Headquarters in Paris http://www.baltic-course.com/eng/forums/?doc=152032 On the occasion of the 100th anniversary of Latvian National Institutions for Culture, Education and Science included among the anniversaries to be associated with UNESCO in 2018-2019 the audio visual installation “Alphabet of Latvian Culture” is opened at UNESCO Headquarters in Paris, France, Latvian National Commission for UNESCO representatives informed BC. Thu, 17 Oct 2019 16:20:00 +0300 1571318400 Juncker and Johnson announce agreement on new Brexit deal http://www.baltic-course.com/eng/baltic_states/?doc=152029 The president of the European Commission, Jean-Claude Juncker, and British Prime Minister Boris Johnson said Thursday that a Brexit withdrawal agreement has finally been reached and will be presented to EU leaders, reported LETA-AFP. Thu, 17 Oct 2019 14:20:00 +0300 1571311200 Lithuanian parliament starts debating 'spy swap' amendment http://www.baltic-course.com/eng/legislation/?doc=152026 The Lithuanian parliament has started debating a draft amendment to the Criminal Code that would detail the president's right to pardon persons convicted of espionage, reported LETA/BNS. Thu, 17 Oct 2019 13:45:00 +0300 1571309100 Latvia: Children born to non-citizens to get citizenzship starting from 2020 http://www.baltic-course.com/eng/good_for_business/?doc=152027 The Latvian parliament today in the third or final reading passed the bill proposed by former President Raimonds Vejonis to end non-citizenship status for non-citizens’ children who are born in Latvia starting from January 1, 2020, reported LETA. Thu, 17 Oct 2019 13:45:00 +0300 1571309100 Ukrainian president thanks Latvia for assistance in overcoming difficulties http://www.baltic-course.com/eng/baltic_states_cis/?doc=152025 kraine, which is fighting for its rights and paying a terrible price for it, is glad to have Latvia by its side in this complicated period, Ukrainian President Volodimir Zelensky said today after a meeting with Latvian President Egils Levits in Riga. Thu, 17 Oct 2019 13:00:00 +0300 1571306400 Lithuanian govt to consider 2020 budget, with revenue, expenditure going up http://www.baltic-course.com/eng/finances/?doc=152024 The revenue and expenditure of Lithuania's 2020 state budget, including EU and other international support, should grow, and the planned budget deficit will be slightly lower than planned this year, reported LETA/BNS. Thu, 17 Oct 2019 12:50:00 +0300 1571305800 Estonia: Coop Pank's profit up 31% on year in Q3 http://www.baltic-course.com/eng/good_for_business/?doc=152023 Coop Pank, which is based on Estonian capital, earned a profit of 1.52 mln euros in the third quarter of this year, which is 31% more than in the same period last year, writes LETA/BNS. Thu, 17 Oct 2019 12:20:00 +0300 1571304000 Digitalised economy: OECD efforts to address tax challenges http://www.baltic-course.com/eng/modern_eu/?doc=152022 The OECD published a proposal to advance international negotiations to ensure that large and highly profitable multinational enterprises, including digital companies, pay tax wherever they have significant consumer-facing activities and generate their profits. Thu, 17 Oct 2019 12:00:00 +0300 1571302800 Estonia: Public transport cards to become usable both in Tallinn, Helsinki in 2021 http://www.baltic-course.com/eng/good_for_business/?doc=152016 Mayor of Tallinn Mihhail Kolvart and Deputy mayor of Helsinki Anni Sinnemaki concluded at a meeting held in Helsinki on Tuesday that the capital cities of Estonia and Finland should coordinate their efforts and develop a shared public transport ticketing system, according to the Postimees information reports LETA/BNS. Wed, 16 Oct 2019 20:00:00 +0300 1571245200 Moscow launches hotline for tourists http://www.baltic-course.com/eng/tourism/?doc=152009 The Moscow Tourist Information Support Centre has launched a new hotline for tourists in Moscow. Visitors to the Russian capital can now get 24/7 help via a short number - 122, as well as a ten-digit landline number - +7 (495) 122-01-11, the Moscow Tourist Information Support Center representatives informed BC. Wed, 16 Oct 2019 18:20:00 +0300 1571239200 OECD: Reforms in Latvia must result in stronger enforcement to tackle foreign bribery and subsequent money laundering risks http://www.baltic-course.com/eng/baltic_states/?doc=152006 Latvia has continued to improve its framework against bribery of foreign public officials and subsequent money laundering but the reforms need to translate into further effective enforcement, according to a new report by the OECD Working Group on Bribery. Wed, 16 Oct 2019 14:00:00 +0300 1571223600 E-Estonia council: Self-driving vehicles waiting for new law http://www.baltic-course.com/eng/Technology/?doc=152002 The e-Estonia council was given an overview at a sitting on Monday of the current state and future perspectives of self-driving vehicles, the conclusion reached at the discussion was that although there is already a working legal framework for testing self-driving vehicles on Estonian public roads, it is necessary to wait for the algorithmic-liability law to apply it in our broader legal landscape. Wed, 16 Oct 2019 11:45:00 +0300 1571215500 Cod catch quota in eastern Baltic Sea cut 92% in 2020 http://www.baltic-course.com/eng/baltic_states/?doc=152000 The European Union Agriculture and Fisheries Council approved at a meeting in Luxembourg new catch quotas for the Baltic Sea for the coming year, including a 92% reduction in the cod fishing quota in the eastern Baltic Sea, reported LETA. Wed, 16 Oct 2019 11:20:00 +0300 1571214000 Finmin: Multi-billion fines for money laundering should reach Estonia's budget http://www.baltic-course.com/eng/finances/?doc=152001 Fines measuring in the billions of euros may be slapped on Estonian banks as a result of money laundering breaches, which should eventually land in the Estonian state budget, Finance Minister Martin Helme said on social media, cited LETA. Wed, 16 Oct 2019 11:20:00 +0300 1571214000 Estonian minister: Volume of CAP must be maintained http://www.baltic-course.com/eng/markets_and_companies/?doc=151997 Estonia's Minister of Rural Affairs Mart Jarvik supports the French proposal to leave the budget of the European Union's common agricultural policy (CAP) for 2020+ at the level of the current period and not reduce it, informed LETA/BNS. Wed, 16 Oct 2019 11:00:00 +0300 1571212800 EU presidency’s proposal on multiannual budget unacceptable to Latvia - Rinkevics http://www.baltic-course.com/eng/baltic_states/?doc=151998 Latvia finds the proposal from the Finnish Presidency on the EU’s Multiannual Financial Framework for 2021-2017 to be unacceptable, Foreign Minister Edgars Rinkevics (New Unity) said at a meeting of the EU General Affairs Council. Wed, 16 Oct 2019 10:40:00 +0300 1571211600 US provides mine clearing equipment worth around EUR 7 mln to Latvia http://www.baltic-course.com/eng/markets_and_companies/?doc=151999 The Latvian Home Guard in a ceremony outside the Ogre Culture Center this Friday will receive Husky Vehicle Mounted Mine Detectors (VMMD) worth around EUR 7 mln provided by the United States, the press office of the Latvian Defense Ministry informed LETA. Wed, 16 Oct 2019 10:40:00 +0300 1571211600 Avia Solutions Group acquires Chapman Freeborn http://www.baltic-course.com/eng/good_for_business/?doc=151994 Avia Solutions Group, a global multipurpose aviation holding company owned by Lithuanian businessman Gediminas Ziemelis, has completed the acquisition of 100% of the shareholding in UK-headquartered Chapman Freeborn Group, informed LETA/BNS. Tue, 15 Oct 2019 22:45:00 +0300 1571168700 Estonian watchdog: Sonajalg brothers may continue Aidu wind farm construction http://www.baltic-course.com/eng/energy/?doc=151995 The Estonian Consumer Protection and Technical Regulatory Authority said that businessmen and brothers Andres and Oleg Sonajalg may continue with the construction of the Aidu wind farm as the Supreme Court's decision not to handle the appeal against court ruling filed by the Ministry of Justice means that the building permits are valid, writes LETA/BNS. Tue, 15 Oct 2019 22:45:00 +0300 1571168700 Welcome remarks by Vytautas Vasiliauskas at the Economics conference Labour Market in the 21st Century:The Way Forward http://www.baltic-course.com/eng/direct_speech/?doc=151996 Dear guests and distinguished speakers: A sincere ‘thank you’ for joining us at the yearly Lithuanian economics conference organised by the Bank of Lithuania. Tue, 15 Oct 2019 22:45:00 +0300 1571168700 Two patients to get donor kidneys flown to Lithuania from Latvia http://www.baltic-course.com/eng/markets_and_companies/?doc=151993 An army helicopter brought in donor kidneys to Lithuania from Latvia early Tuesday morning and they will be received by two patients at Santara Clinics in Vilnius, reported LETA/BNS. Tue, 15 Oct 2019 22:00:00 +0300 1571166000 Government supports plan to create 39 municipalities in Latvia http://www.baltic-course.com/eng/markets_and_companies/?doc=151991 The Cabinet of Ministers on Tuesday approved the Environmental Protection and Regional Development Ministry's proposal to create 39 municipalities in Latvia instead of the 119 existing ones as part of the planned administrative-territorial reform, writes LETA. Tue, 15 Oct 2019 20:30:00 +0300 1571160600 Estonia ranks 17th in EU for gender equality http://www.baltic-course.com/eng/analytics/?doc=151992 Gender equality in Estonia, insofar as it concerns money, knowledge and power, has improved at a faster pace than the average in the European Union, the index of the European Institute for Gender Equality (EIGE) shows cited LETA/BNS. Tue, 15 Oct 2019 20:20:00 +0300 1571160000 Latvia: Trade union of medics decides to organize large-scale protests http://www.baltic-course.com/eng/markets_and_companies/?doc=151974 The Latvian Trade Union of Health and Social Care Employees (LVSADA) has decided to stage large-scale protests, according to LVSADA council writes LETA. Tue, 15 Oct 2019 12:30:00 +0300 1571131800 Baltic banking: Luminor opens direct USD correspondent account with Citi http://www.baltic-course.com/eng/finances/?doc=151976 Luminor started to route US dollar payments through its new core banking platform via Citibank N.A., the third largest banking group in the United States, from the beginning of October, informed LETA/BNS. Tue, 15 Oct 2019 12:30:00 +0300 1571131800 Corruption Prevention Bureau detains board member of Salaspils municipal company http://www.baltic-course.com/eng/legislation/?doc=151975 The Corruption Prevention Bureau (KNAB) has detained Ilgonis Igaunis, a board member of Salaspils municipal company Valgums-S, on suspicions of abuse of authority, according to the information at the disposal of LETA. Tue, 15 Oct 2019 12:20:00 +0300 1571131200 Latvia: Land Fund has acquired 200 properties for EUR 14 mln in 9 months http://www.baltic-course.com/eng/real_estate/?doc=151973 The Land Fund of the Development Financial Institution Altum in the first nine months of this year has acquired 200 land properties, investing in total EUR 14 million, Altum representatives reported. Tue, 15 Oct 2019 11:40:00 +0300 1571128800 New Supervisory Board of RB Rail AS appointed http://www.baltic-course.com/eng/transport/?doc=151972 Shareholders of Rail Baltica joint venture RB Rail AS approved a new Supervisory Board of the company. This appointment follows the decision of the Estonian shareholder to replace Riia Sillave, CEO of RB Estonia with Ahti Kuningas, Deputy Secretary General for Transport at the Ministry of Economic Affairs and Communication of Estonia. According to the Commercial Law of Latvia, a new Supervisory Board must be appointed if a new member is appointed, RB Raik AS representatives informed BC. Tue, 15 Oct 2019 11:10:00 +0300 1571127000 Klaipeda FEZ Honored by FDI Intelligence for Investor Expansions http://www.baltic-course.com/eng/good_for_business/?doc=151971 Klaipeda FEZ earned 4 bespoke awards in the annual Free Zones of the Year ranking, released by fDi Intelligence, a foreign direct investment publication, belonging to the Financial Times Group. In the 2019 rankings, the Klaipeda FEZ was mentioned for its expansions, local transport improvements, workforce amenities and the FlexStart manufacturing building. Tue, 15 Oct 2019 11:00:00 +0300 1571126400 Lux Express expands to Belarus http://www.baltic-course.com/eng/good_for_business/?doc=151970 – Estonian intercity bus operator Lux Express has opened a branch in the Belarus capital Minsk where it is running charter operations for the time being due to the country's legislation, while hoping to open a regular Minsk-St. Petersburg service in one year's time, informed LETA/BNS. Tue, 15 Oct 2019 10:40:00 +0300 1571125200 Vocational training: acquiring new skills http://www.baltic-course.com/eng/analytics/?doc=151969 During present Finnish Presidency of the Council of the EU, the 2019 European Vocational Skills Week in Helsinki (14-18.x.) took place with the idea of encouraging people of all ages to ‘discover their talent' through vocational education and training (VET). Tue, 15 Oct 2019 10:20:00 +0300 1571124000 Back Almost half of EU pupils study vocational programmes http://www.baltic-course.com/eng/analytics/?doc=151968 In 2017, 21.4 mln pupils were studying at upper secondary level in the European Union (EU), out of which more than 10.2 mln (or 48%) were enrolled in vocational education, informed Eurostat. Tue, 15 Oct 2019 10:00:00 +0300 1571122800 Latvijas Banka is issuing a collector coin "Gifts of the Forest" http://www.baltic-course.com/eng/finances/?doc=151966 On Thursday, 17 October, Latvijas Banka is issuing a silver collector coin "Gifts of the Forest". The coin dedicated to Latvia's nature bears a message of Latvian values and traditions creating the sense of belonging to Latvia and uniting its people. The coin shows our respect to Latvia's forests, the gifts they provide as well as traditions related to forests, e.g. mushroom and berry picking etc. Mon, 14 Oct 2019 20:00:00 +0300 1571072400 Oil price pass-through to consumer prices in Latvia http://www.baltic-course.com/eng/direct_speech/?doc=151962 According to our research*, a 10% increase in global oil prices raises the level of consumer prices in Latvia by 0.6% in the medium term. The increase in oil prices directly pushes up energy prices, i.e. the prices of car fuel, natural gas, heat energy, and – indirectly – the prices of food and services. Mon, 14 Oct 2019 19:00:00 +0300 1571068800 Eastnine takes possession of S7-2 in Vilnius http://www.baltic-course.com/eng/good_for_business/?doc=151960 Eastnine AB (publ) has taken possession of the newly built office property S7-2 in Vilnius’ central business district. The property, which holds approximately 16,000 square metres, is fully let to Telia Lietuva on an agreement that runs until March 2029, inflrmed Eastnine. Mon, 14 Oct 2019 18:10:00 +0300 1571065800 Lithuania's public procurement body allows Amber Grid to sign GIPL contract with Alvora http://www.baltic-course.com/eng/energy/?doc=151959 The Public Procurement Office (VPT) has given the green light for the power transmission grid operator Amber Grid to sign a 100-million-euro contract for the construction of the Lithuanian part of the Gas Interconnector Poland-Lithuania (GIPL) with the winning bidder Alvora and its partner Siauliu Dujotekio Statyba, informed LETA/BNS. Mon, 14 Oct 2019 18:00:00 +0300 1571065200 New light-vehicle registrations in the Baltic States grew by 19% in 3Q 2019 http://www.baltic-course.com/eng/good_for_business/?doc=151958 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), reveals that new light-vehicle (M1&N1) registrations in the Baltic States grew by 18.6% to 25’505 units in III quarter 2019. Mon, 14 Oct 2019 17:55:00 +0300 1571064900 Operail: Grain is now transported by rail http://www.baltic-course.com/eng/good_for_business/?doc=151957 This year’s record grain harvest has brought grain transport from road to rail for the first time ever – in two months, Operail has transported the equivalent of more than 600 truckloads of fodder grain to the ports of Sillamäe and Muuga by rail. informed Operail. Mon, 14 Oct 2019 15:40:00 +0300 1571056800 Estonia: Baltic Horizon Fund buys North Star business center in Vilnius for EUR 21 mln http://www.baltic-course.com/eng/good_for_business/?doc=151954 The commercial property fund Baltic Horizon Fund has closed the acquisition of the North Star business center, the purchase price of which is 20.7 mln euros, corresponding to an estimated entry yield of approximately 7.3%. Mon, 14 Oct 2019 15:20:00 +0300 1571055600 Court finds EUR 29 mln worth of frozen assets to be proceeds from crime http://www.baltic-course.com/eng/legislation/?doc=151955 The Criminal Division of Riga Regional Court last week overruled a decision of the Riga City Vidzeme District Court and recognized EUR 29 million worth of frozen assets to be proceeds from crime, Laura Majevska, a representative of the Prosecutor General's Office, told LETA. Mon, 14 Oct 2019 15:20:00 +0300 1571055600 New LNG shipment from Vysotsk arrives in Lithuania's Klaipeda http://www.baltic-course.com/eng/energy/?doc=151956 A LNG shipment has on Monday arrived to Klaipeda from Vysotsk where Russia's largest private gas company Novatek has a LNG production facility, reported LETA/BNS. Mon, 14 Oct 2019 15:20:00 +0300 1571055600 Skulte LNG terminal will be healthy competition for Klaipeda terminal - Latvijas Gaze http://www.baltic-course.com/eng/energy/?doc=151952 The planned Skulte liquefied natural gas (LNG) terminal will create a healthy competition for Klaipeda LNG terminal, Latvijas Gaze natural gas utility board chairman Aigars Kalvitis said LETA. Mon, 14 Oct 2019 15:10:00 +0300 1571055000 Estonian ministry's analysis: Technical education ensures greater income http://www.baltic-course.com/eng/education/?doc=151953 "Success on the Labor Market", a fresh analysis of the Estonian Ministry of Education and Research, indicates that a technical education ensures a bigger income, writes LETA/BNS. Mon, 14 Oct 2019 15:10:00 +0300 1571055000 Karbauskis, Zubas, investment fund among biggest land owners in Lithuania http://www.baltic-course.com/eng/analytics/?doc=151951 Ramunas Karbauskis, leader of the ruling Lithuanian Farmers and Greens Union, businessman Darius Zubas and investment fund Fixed Yield Invest Fund are the biggest land owners in Lithuania,according the delfi.lt news website informed LETA/BNS. Mon, 14 Oct 2019 14:50:00 +0300 1571053800 The First-ever 5G Policymakers' Hackathon Announced http://www.baltic-course.com/eng/forums/?doc=151949 The first 5G policymakers' hackathon will be held on November 26-27 in Riga, Latvia, during the 5G Techritory Forum. Mon, 14 Oct 2019 14:40:00 +0300 1571053200 Apartment prices in Soviet-era standard design houses in Riga up 2.7% this year - Arco Real Estate http://www.baltic-course.com/eng/good_for_business/?doc=151950 In September this year, apartment prices in Soviet-era standard design houses in Riga remained unchanged from August and climbed 2.7% from the beginning of the year, Arco Real Estate said in its latest report on the market of standard-design apartments, informed LETA. Mon, 14 Oct 2019 14:20:00 +0300 1571052000 Narvesen Baltija retailer to take over Coffee Inn http://www.baltic-course.com/eng/good_for_business/?doc=151943 A reorganization process is under way in which Narvesen Baltija retail company is taking over Coffee Inn, the owner of the Caffeine Roasters (Caffeine) cafe chain, according to an announcement published in the official gazette Latvijas Vestnesis on Monday, citing LETA. Mon, 14 Oct 2019 12:30:00 +0300 1571045400 Latvia's government debt might grow to EUR 11.65 bn by 2020-end http://www.baltic-course.com/eng/finances/?doc=151944 By the end of 2020, Latvia's government debt might grow to EUR 11.65 bn, according to the Finance Ministry's review of government debt trends, 2019-2022, writes LETA. Mon, 14 Oct 2019 12:30:00 +0300 1571045400 Fitch affirms Latvia’s rating at 'A-'; outlook stable http://www.baltic-course.com/eng/good_for_business/?doc=151941 Fitch Ratings agency has affirmed Latvia's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'A-' with a Stable Outlook, the ratings agency informs. Mon, 14 Oct 2019 12:20:00 +0300 1571044800 Harmony considers exiting coalition with GKR in Riga http://www.baltic-course.com/eng/markets_and_companies/?doc=151942 armony party considers severing ties with Honor to Serve Riga (GKR) because Harmony is dissatisfied with the performance of its coalition partner in Riga, according the daily newspaper Neatkariga information reports LETA. Mon, 14 Oct 2019 12:20:00 +0300 1571044800 XV Union of the Baltic Cities General Conference Kaunas, Lithuania, 15–18 October 2019 http://www.baltic-course.com/eng/forums/?doc=151940 Nearly 250 high-level politicians, city officials, other experts and youth are participating in the XV Union of the Baltic Cities (UBC) General Conference, held in Kaunas, Lithuania, on 15–18 October 2019. The theme of the General Conference is "Building an inclusive and resident-focused city. The Baltic way". The statutory General Assembly of the UBC will take place during the conference on 17 October 2019. Mon, 14 Oct 2019 12:00:00 +0300 1571043600 Latvian ports' cargo turnover down 3% in nine months http://www.baltic-course.com/eng/transport/?doc=151932 Latvian ports' cargo turnover in January-September this year amounted to 47.249 mln tons, which is 3% less than in the first half of 2018, according to the Transport Ministry's data. Fri, 11 Oct 2019 21:30:00 +0300 1570818600 Estonia: Corporate debt is growing more slowly than the economy is http://www.baltic-course.com/eng/direct_speech/?doc=151933 The financial account statistics published by Eesti Pank today show that the growth in the debt of Estonian companies has accelerated a little this year. Companies invested more in the first half of 2019 than they did in previous years, and so they borrowed more to fund the investment. Even so, the growth of 4% in corporate debt over the year in the second quarter was notably less than the nominal growth in the economy. Fri, 11 Oct 2019 21:30:00 +0300 1570818600 About 50 employees of Stockmann department store catch stomach infection http://www.baltic-course.com/eng/markets_and_companies/?doc=151930 About 50 employees of Stockmann department store in Riga catered by Baltic Restaurants Latvia during the Crazy Days campaign caught a stomach infection, the Food and Veterinary Service (PVD) confirmed, informed LETA/BNS. Fri, 11 Oct 2019 21:10:00 +0300 1570817400 Rail freight in Latvia down 12.4% in nine months http://www.baltic-course.com/eng/transport/?doc=151931 Freight transportation using the Latvian railway infrastructure amounted to 31.645 mln tons in the first nine months of this year, down 12.4% from the same period in 2018, the data of the Transport Ministry shows. Fri, 11 Oct 2019 21:10:00 +0300 1570817400 Lithuania: Court imposed sanctions on managers of cartelists http://www.baltic-course.com/eng/legislation/?doc=151929 Vilnius Regional Administrative Court (Court) partially upheld the request of Konkurencijos taryba and restricted the right of D. L., manager of the company Ledevila, Ž. K., former manager of Elmis, and L. K., former manager of Vortex Capital, to occupy managerial positions in the public or private sector for their involvement in competition law breaches, the Lithuanian Competition Council`s representatives informed BC. Fri, 11 Oct 2019 21:00:00 +0300 1570816800 Russian embassy in Riga reports on hacker attack on its e-mail system http://www.baltic-course.com/eng/baltic_states_cis/?doc=151928 The Russian embassy in Latvia reported its e-mail system had been attacked today, reported LETA/BNS. Fri, 11 Oct 2019 19:00:00 +0300 1570809600 Gas consumption in Lithuania has grown by 10%, http://www.baltic-course.com/eng/good_for_business/?doc=151911 According to the Lithuania’s gas transmission system operator Amber Grid, within three quarters of 2019, gas consumption in Lithuania has increased by 10%, and under favorable conditions in the international gas market, gas transmission to the neighboring Baltic States has almost doubled, the Amber Grid`s head of communication Laura Sebekiene informed BC. Fri, 11 Oct 2019 11:20:00 +0300 1570782000 Modern long-term EU budget for the period 2021-2027 http://www.baltic-course.com/eng/modern_eu/?doc=151910 The next multiannual financial framework (MFF) should be fit for the EU’s present and future challenges to deliver on the member states and citizens’ expectations. The Commission calls on EU Heads of State and/or Government to provide political guidance and new impetus to the negotiations in order to reach an agreement on a fair and balanced MFF. Fri, 11 Oct 2019 11:10:00 +0300 1570781400 Bank of Lithuania: Facebook's Libra may turn into 'something interesting' http://www.baltic-course.com/eng/finances/?doc=151909 Facebook's plans to issue Libra has prompted central banks to take a closer look at stablecoins – cryptocurrencies offering price stability, a member of the Bank of Lithuania's board has told the business daily Verslo Zinios, referred LETA/BNS. Fri, 11 Oct 2019 10:40:00 +0300 1570779600 Tallinna Sadam's cargo volume down 22% on year in Q3 http://www.baltic-course.com/eng/transport/?doc=151908 In the third quarter of the year, 4.3 mln tons of cargo and 3.6 mln passengers passed through the harbors of listed Estonian port company Tallinna Sadam with the cargo volume down by 22.1% compared to the same period of the previous year mainly due to liquid bulk and the passenger volume increasing 3.5% on year, reported LETA/BNS. Fri, 11 Oct 2019 10:00:00 +0300 1570777200 Bonava Latvija starts construction of new residential project Pagalms 2.0 in Riga http://www.baltic-course.com/eng/good_for_business/?doc=151906 Real estate developer Bonava Latvija has started construction of the first building of Pagalms 2.0 residential project in Riga. Fri, 11 Oct 2019 09:50:00 +0300 1570776600 Estonia: Operators not interested in Latvia ferry service http://www.baltic-course.com/eng/transport/?doc=151907 Potential operators are not interested in the ferry service between the port of Montu on Saaremaa island and Latvia's Courland region despite very good terms offered to them, according to the regional newspaper Saarte Haal reported LETA/BNS. Fri, 11 Oct 2019 09:20:00 +0300 1570774800 State has no additional funds for teachers' wages - Karins http://www.baltic-course.com/eng/education/?doc=151900 The state budget currently has not additional funds for teachers' wages, said Prime Minister Krisjanis Karins (New Unity) in an interview with the Latvian public radio today, citing LETA. Thu, 10 Oct 2019 19:00:00 +0300 1570723200