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, 29 Jun 2017 13:47:44 +0300 Baltic Course, The baltic-course@baltic-course.com dmitrijs@mansbirojs.lv Public Consultation Process now begins in Denmark http://www.baltic-course.com/eng/energy/?doc=130772 The Environmental Impact Assessment (EIA) report for the Danish section of the Nord Stream 2 AG natural gas offshore pipeline system has been made available for public display by the coordinating authority, the Danish Energy Agency. The EIA is based on detailed environmental studies conducted along the route where the pipeline is planned to be constructed. Thu, 29 Jun 2017 11:00:00 +0300 1498723200 Latvia fails to meet certain minimum standards in elimination of human trafficking - U.S. report http://www.baltic-course.com/eng/baltic_states/?doc=130768 Regardless the robust efforts of the Latvian government, the country still does not meet the minimum standards in several key areas, according to the 2017 Trafficking in Persons Report released by U.S. Secretary of State Rex Tillerson, writes LETA. Wed, 28 Jun 2017 21:30:00 +0300 1498674600 Helsinki and Tallinn – happy siblings of the Baltic Sea http://www.baltic-course.com/eng/direct_speech/?doc=130755 The development of Helsinki–Tallinn cooperation has long been a subject of study in official working groups. But in practice, people have already voted with their feet: the cities are already one extensive urban area. In 2016, the Gulf of Finland was crossed almost 9 mln times. Breakfast in Helsinki and lunch in Tallinn. Shopping in both. Museum visits. Such is everyday life in an extensive urban cluster - cheerful cultural relations. Wed, 28 Jun 2017 16:50:00 +0300 1498657800 DHL and Latvian Railways join forces to boost Baltic-China trade http://www.baltic-course.com/eng/good_for_business/?doc=130754 Baltic and Nordic exporters can look forward to faster, cheaper and more reliable logistics connections to China’s immense export market, following the signing of a new agreement between Latvia’s State Joint Stock Company Latvijas dzelzceļš (LDz) and DHL Global Forwarding, the leading international provider of air, sea and road freight services, LDz representative informed BC. Wed, 28 Jun 2017 16:30:00 +0300 1498656600 Viking Line carries 30% more passengers between Estonian and Finnish capitals in June http://www.baltic-course.com/eng/good_for_business/?doc=130751 The Finnish shipper Viking Line said on Wednesday that passenger numbers for June increased by as much as 30% year over year on its Tallinn routes. Wed, 28 Jun 2017 16:20:00 +0300 1498656000 The turnover of enterprises engaged in wholesale and retail trade of motor vehicles and motorcycles in Lithuania increased by 1.1% http://www.baltic-course.com/eng/analytics/?doc=130752 The turnover of enterprises engaged in wholesale and retail trade of motor vehicles and motorcycles in Lithuania increased by 1.1%. Wed, 28 Jun 2017 16:20:00 +0300 1498656000 Estonian carrier Nordica launches third daily flight on Tallinn-Warsaw route http://www.baltic-course.com/eng/good_for_business/?doc=130753 The Estonian state-owned airline Nordic Aviation Group operating under the Nordica trademark as of this week added a third daily flight on the Tallinn-Warsaw route, reports LETA/BNS. Wed, 28 Jun 2017 16:20:00 +0300 1498656000 EU extends Russia economic sanctions http://www.baltic-course.com/eng/baltic_states/?doc=130750 The European Union on Wednesday formally rolled over damaging economic sanctions against Russia for another six months, saying Moscow had failed to live up to its Ukraine ceasefire commitments, reports LETA. Wed, 28 Jun 2017 16:10:00 +0300 1498655400 Real estate co says Estonia suffering from big shortage of construction workers http://www.baltic-course.com/eng/real_estate/?doc=130749 There is clearly a shortage of construction workers and building materials on the Estonian construction market now and the large scale projects that are about to kick off will only make the situation worse, the managing director of the real estate company 1Partner Kinnisvara, Martin Vahter, said LETA/BNS. Wed, 28 Jun 2017 15:40:00 +0300 1498653600 Tax reform will not be delayed despite differences - Kucinskis http://www.baltic-course.com/eng/finances/?doc=130748 I am not going to delay the tax reform just because each party concerned has a different position, Prime Minister Maris Kucinskis (Greens/Farmers) said today after his weekly meeting with President Raimonds Vejonis. Wed, 28 Jun 2017 15:30:00 +0300 1498653000 Refugee and migrant integration center set to open in Kaunas http://www.baltic-course.com/eng/baltic_states/?doc=130747 he Lithuanian Red Cross Society's refugee and migrant integration center is opening in Lithuania's second-biggest city of Kaunas on Wednesday, reports LETA/BNS. Wed, 28 Jun 2017 14:00:00 +0300 1498647600 Agency: 2 Estonian businesses hit by malware http://www.baltic-course.com/eng/Technology/?doc=130745 The malware that has been spreading globally of late has hit two companies of the Saint-Gobain group in Estonia, including the DIY chain Ehituse ABC, the Estonian Information System Authority (RIA) said LETA/BNS on Wednesday. Wed, 28 Jun 2017 13:50:00 +0300 1498647000 Consumer confidence indicator remained unchanged in Lithuania http://www.baltic-course.com/eng/analytics/?doc=130746 Statistics Lithuania informs that in June 2017 the consumer confidence indicator stood at minus 12; against May, it remained unchanged. More pessimistic expectations about changes in the household’s financial situation in the coming 12 months were counterbalanced by more optimistic expectations about changes in the country’s economic situation and making at least some savings in the coming 12 months. Wed, 28 Jun 2017 13:50:00 +0300 1498647000 The 11th Kaunas Biennial will open on 15 September 2017 http://www.baltic-course.com/eng/forums/?doc=130744 The 11th Kaunas Biennial There And Not There will open on 15 September 2017 and will question the notion of monument: what, when and why should a monument be or not be, visit.kaunas.lt informed. Wed, 28 Jun 2017 13:40:00 +0300 1498646400 Maakri Quarter high rise reaches full height of 30 stories http://www.baltic-course.com/eng/good_for_business/?doc=130743 A 30-story office tower being built as part of the Maakri Quarter property development project in central Tallinn has topped out at 110 meters, the developer said LETA/BNS. Wed, 28 Jun 2017 13:15:00 +0300 1498644900 Transport Minister Masiulis is wealthiest among Lithuanian ministers http://www.baltic-course.com/eng/finances/?doc=130742 Transport Minister Rokas Masiulis' family is the wealthiest among the families of Lithuanian ministers and that of Health Minister Aurelijus Veryga has the lowest assets, according to asset declarations released by the State Tax Inspectorate on Wednesday writes LETA/BNS. Wed, 28 Jun 2017 13:10:00 +0300 1498644600 Freeport of Riga Board approves Zeltins as the port's new CEO http://www.baltic-course.com/eng/good_for_business/?doc=130741 The Freeport of Riga Board at its meeting today unanimously approved Latvijas Dzelzcels railroad company's council chairman Ansis Zeltins as the port’s new CEO, LETA was told at the Freeport of Riga Authority. Wed, 28 Jun 2017 13:00:00 +0300 1498644000 BDO Latvia becomes certified adviser on Nasdaq Riga First North http://www.baltic-course.com/eng/finances/?doc=130740 BDO Latvia, a provider of tax, corporate finance, auditing and advisory services, has become a certified adviser on the First North market in Latvia as of June 28, 2017, the Nasdaq Riga stock exchange informed. Wed, 28 Jun 2017 12:50:00 +0300 1498643400 Lithuanian Railways and Orlen sign deal on oil product transport tariffs http://www.baltic-course.com/eng/transport/?doc=130739 After lengthy negotiations, Lietuvos Gelezinkeliai (Lithuanian Railways) and Orlen Lietuva, Lithuania's sole crude refinery owned by Poland's Orlen, have signed a deal on oil product transport tariffs, writes LETA/BNS. Wed, 28 Jun 2017 12:33:00 +0300 1498642380 Latvia unaffected by latest European-wide ransomware attack for now http://www.baltic-course.com/eng/Technology/?doc=130728 For the time being there are no reports suggesting that Latvia, too, has been hit by the latest ransomware attack that it affecting computers across Europe, Svetlana Amberga, a representative of the Latvian Information Technology Security Incident Response Institution Cert.lv, told LETA. Tue, 27 Jun 2017 20:00:00 +0300 1498582800 Watchdog disappointed with the state of Latvian banks' internal control systems http://www.baltic-course.com/eng/finances/?doc=130727 The state of Latvian banks’ internal control systems has proved disappointing in previous years, Peteris Putnins, chairman of the Financial and Capital Market Commission (FCMC), told journalists today as he commented the fining of three Latvian banks for their involvement in circumventing sanctions against North Korea. Tue, 27 Jun 2017 18:50:00 +0300 1498578600 Month-on-month drop in Latvian foreign trade is likely short-lived http://www.baltic-course.com/eng/direct_speech/?doc=130726 The month-on-month drop in export and import observed in April, in all likelihood, will be short-lived and is not an indication of serious problems and changes in the growth trend in foreign trade. Tue, 27 Jun 2017 18:40:00 +0300 1498578000 First chanterelles of the season selling at EUR 8 a liter at Riga Central Market http://www.baltic-course.com/eng/markets_and_companies/?doc=130724 The first chanterelles of the season have arrived at the Riga Central Market, with a liter of the mushrooms selling at EUR 8, the market’s representative Ivars Jakovels told LETA. Tue, 27 Jun 2017 18:30:00 +0300 1498577400 French-owned Lithuanian heat supplier Litesko trebles FY net profit to EUR 5.7 mln http://www.baltic-course.com/eng/energy/?doc=130725 Litesko, a Lithuanian district heating supplier that is controlled by France's Veolia, last year posted a net profit of 5.74 mln euros, more than a three-fold increase from 1.697 mln euros in 2015, writes LETA. Tue, 27 Jun 2017 18:30:00 +0300 1498577400 Baltic food ordering platform Foodout poised to enter Ukraine http://www.baltic-course.com/eng/good_for_business/?doc=130722 Baltic food ordering platform Foodout says that it has bought a stake in Ukraine's food ordering website Eda.ua and also plans to launch operations in Belarus, writes LETA/BNS. Tue, 27 Jun 2017 18:20:00 +0300 1498576800 Homburg Zolitude-owned building at Maxima store collapse site sold at auction for EUR 3.9 million http://www.baltic-course.com/eng/real_estate/?doc=130723 A multi-floor building Homburg Zolitude developer used to own at the site of the deadly collapse of a Maxima supermarket in Riga’s Zolitude neighborhood has been sold at an auction for EUR 3.9 mln, according to information available at auctions website eizsoles.ta.gov.lv, reports LETA. Tue, 27 Jun 2017 18:20:00 +0300 1498576800 Latvijas Kugnieciba sells Preses Nams building for EUR 16.8 mln http://www.baltic-course.com/eng/good_for_business/?doc=130720 LASCO Investment, a subsidiary of Latvijas Kugnieciba (LASCO) shipping group, has sold the Preses Nams (House of Press) building in Riga to PN Project, a company run by Lithuanian real estate developer Lords LB Asset Management, Latvijas Kugnieciba said in a statement to Nasdaq Riga. Tue, 27 Jun 2017 18:10:00 +0300 1498576200 Enterprise Estonia gives EUR 125,000 to help develop new Estelon speaker http://www.baltic-course.com/eng/good_for_business/?doc=130721 Alfred & Partners OU, Estonian manufacturer of audio speakers of the Estelon brand, has received a grant of 125,000 euros from Enterprise Estonia to finalize the development of a speaker model that will have a price tag of 40,000 euros, informed LETA/BNS. Tue, 27 Jun 2017 18:10:00 +0300 1498576200 Latvian financial watchdog slaps fines on three banks for non-compliance with AML/CTF rules http://www.baltic-course.com/eng/finances/?doc=130718 The Finance and Capital Market Commission has slapped fines totaling EUR 641,514 on three Latvian banks - Regionala Investiciju Banka, Baltikums Bank and Privatbank - for non-compliance with the anti-money laundering and counter terrorist financing (AML/CTF) regulations. Tue, 27 Jun 2017 18:00:00 +0300 1498575600 AIG pulling out of Lithuania http://www.baltic-course.com/eng/finances/?doc=130719 American International Group (AIG), one of the world's biggest insurance companies, is moving its service center operations out of Vilnius. It is the first services center of a foreign company to announce its intention to discontinue operations in Lithuania, reports LETA/BNS. Tue, 27 Jun 2017 18:00:00 +0300 1498575600 Estonian startups paid EUR 17 mln in taxes in Q1 http://www.baltic-course.com/eng/good_for_business/?doc=130705 he total revenue generated by Estonian startups in the first quarter of this year was around 71 million euros and the startups paid 17 mln euros in different taxes during the period, reports LETA/BNS. Tue, 27 Jun 2017 15:00:00 +0300 1498564800 Estonia selling Elmo electric car rental service and fleet http://www.baltic-course.com/eng/transport/?doc=130703 The Estonian Ministry of Economic Affairs and Communications is selling the Elmo electric car rental service, 15 ordinary charging stations and a fleet of 31 cars to three companies for 277,000 euros, informed LETA/BNS, Tue, 27 Jun 2017 14:40:00 +0300 1498563600 Regional Jet has leased 2 jets to serve SAS routes http://www.baltic-course.com/eng/good_for_business/?doc=130704 Regional Jet OU, joint venture of the Estonian state owned airline Nordica and Poland's LOT, has signed a lease for two ATR aircraft to operate routes of the Scandinavian carrier SAS out of Copenhagen under a six-year agreement that will start in August, informed LETA/BNS. Tue, 27 Jun 2017 14:40:00 +0300 1498563600 Latvian government grants EUR 700,000 for cleaning up illegal plastic waste dump in Jurmala after fire http://www.baltic-course.com/eng/finances/?doc=130701 The Latvian government today agreed to grant up to EUR 700,000 to the State Environmental Service for cleaning up the illegal plastic waste dump in the Jurmala sea-side resort town after a vast fire at the site about a week ago, informed LETA. Tue, 27 Jun 2017 14:30:00 +0300 1498563000 CERN membership opens opportunities for Lithuanian science and businesses http://www.baltic-course.com/eng/education/?doc=130702 Lithuania's membership of the Council of the European Organization for Nuclear Research (CERN) is opening up great opportunities for the country's scientists and businesses, the organization's director-general said LETA/BNS. Tue, 27 Jun 2017 14:30:00 +0300 1498563000 FY profit of Eesti Gaas jumps to EUR 7.4 mln http://www.baltic-course.com/eng/good_for_business/?doc=130700 The sales revenue of the Estonian gas seller AS Eesti Gaas decreased 8.6 % year over year to 115.7 mln euros in 2016, whereas net profit surged to 7.4 mln euros from 485,000 euros in 2015, reported LETA/BNS. Tue, 27 Jun 2017 14:00:00 +0300 1498561200 Livonia Partners to buy minority holding in Lithuanian telecom co Cgates http://www.baltic-course.com/eng/good_for_business/?doc=130699 Livonia Partners, a private equity investment firm based in the Baltics, has partnered up with LHV pension funds and Ambient Sound Investments to buy from Polaris Invest minority shares in the Lithuanian cable television and internet services company Cgates, reports LETA/BNS. Tue, 27 Jun 2017 13:40:00 +0300 1498560000 Estonia's top court: Same-sex couples have right to family life protection http://www.baltic-course.com/eng/baltic_states/?doc=130698 The Estonian Supreme Court in a decision made on Tuesday clarified courts' jurisdiction in the matter of applying initial legal protection in living permit disputes, saying that same-sex couples also have a right to the protection of family life, reports LETA/BNS. Tue, 27 Jun 2017 13:30:00 +0300 1498559400 Latvia's ruling coalition agrees on more progressive personal income tax rate http://www.baltic-course.com/eng/finances/?doc=130685 Latvia's ruling coalition today agreed to introduce a differentiated personal income tax at 20%, 23% and 31%, Prime Minister Maris Kucinskis (Greens/Farmers) told the press after the meeting of the ruling parties today. Mon, 26 Jun 2017 18:10:00 +0300 1498489800 PRFoods to buy 2 UK fish processing cos for EUR 15.4 mln http://www.baltic-course.com/eng/good_for_business/?doc=130684 RJ & PRF Limited, a company belonging to the PRF consolidation group, on Monday executed a share purchase agreement under which it acquired majority shareholdings in John Ross Jr. (Aberdeen) Limited (JRJ) and Coln Valley Smokery Limited (CVS), both located in the United Kingdom, reports LETA/BNS. Mon, 26 Jun 2017 18:00:00 +0300 1498489200 European directors and experts of better regulation to meet in Estonia http://www.baltic-course.com/eng/forums/?doc=130681 irectors and experts of better regulation from EU member states and institutions are to gather in Tallinn on Tuesday to discuss the principles of the field as well as successes and shortcomings, reports LETA/BNS. Mon, 26 Jun 2017 17:40:00 +0300 1498488000 EUR 7.8 mln to be made available for construction of multimodal transport hub in Tornakalns http://www.baltic-course.com/eng/good_for_business/?doc=130683 Funding worth EUR 7.8 mln will be made available to Latvia for the planned construction of a multimodal transport hub in Tornakalns, Riga, LETA was told at the Central Financial and Contracting Agency. Mon, 26 Jun 2017 17:40:00 +0300 1498488000 Lithuania's avg electricity market price falls 21% w-o-w http://www.baltic-course.com/eng/energy/?doc=130682 The average price of electricity in Nord Pool Spot's Lithuanian bidding area dropped by 20.9 last week from a week earlier to 32.09 euros per megawatt-hour, Litgrid said on Monday. Mon, 26 Jun 2017 17:35:00 +0300 1498487700 Estonian court satisfies Latvian company's action against Virumaa Metsatoostus http://www.baltic-course.com/eng/legislation/?doc=130679 A court in Estonia has satisfied an action taken by the Latvian company Ex-Vale SIA against the Estonian company AS Virumaa Metsatoostus, ordering the latter to pay the plaintiff EUR 19,000 including a fine for delay and cover the procedural costs, reports LETA/BNS. Mon, 26 Jun 2017 17:20:00 +0300 1498486800 Estonia's industrial confidence indicators rise in June http://www.baltic-course.com/eng/analytics/?doc=130680 The confidence index of Estonian industrial enterprises rose one point month over month to 11 points in June, compared with 2 points registered for June 2016, data available from the Estonian Institute of Economic Research shows. Mon, 26 Jun 2017 17:20:00 +0300 1498486800 Household consumption expenditure in Lithuania increased by one-fifth http://www.baltic-course.com/eng/analytics/?doc=130678 Statistics Lithuania informs that based on the provisional data of the Household Budget Survey, in 2016, average household consumption expenditure equalled EUR 298 per capita per month. Compared to 20121, monthly consumption expenditure grew by 20.3%, or EUR 50. Consumer price growth adjusted, compared to 2012, consumption increased by 18.9%. Mon, 26 Jun 2017 17:10:00 +0300 1498486200 A two-euro commemorative coin dedicated to Estonian independence will enter circulation on 26 June http://www.baltic-course.com/eng/finances/?doc=130675 The two-euro coin with a special design will enter circulation on 26 June and can be used for payment across the whole euro area. A total of 1.5 million coins will be minted. There will be 10,000 two-euro coin cards, which will sell for seven euros. The coins and coin cards will be on sale in the Eesti Pank online shop from 14.00 on 26 June, and in the museum shop from 27 June Mon, 26 Jun 2017 14:45:00 +0300 1498477500 More than half of Latvians believe that globalization increases social inequalities http://www.baltic-course.com/eng/analytics/?doc=130673 More than a half or 58% of Latvia's population believe that globalization increases social inequalities, according to the Eurobarometer survey carried out in April this year. Mon, 26 Jun 2017 14:40:00 +0300 1498477200 ECB to develop a service for the settlement of instant payments http://www.baltic-course.com/eng/finances/?doc=130674 The Governing Council of the European Central Bank (ECB) has decided to develop a new service for the settlement of instant payments. The new service, TARGET instant payment settlement (TIPS), will enable citizens and firms to transfer money between each other in real time and will be available around the clock, 365 days a year, Eesti Pak informed. Mon, 26 Jun 2017 14:30:00 +0300 1498476600 Association to claim EUR 1.2 b from state if wind farms in NE Estonia are vetoed http://www.baltic-course.com/eng/energy/?doc=130672 he Wind Energy Association, a nonprofit linked to the Sonajalg family, wants the government to come up with a compromise that would allow to build wind farms in northeastern Estonia and has threatened to otherwise file a claim of 1.16 bln euros for the investments already made and a reasonable return on investment, reports LETA/BNS. Mon, 26 Jun 2017 14:10:00 +0300 1498475400 Lithuania's civic empowerment index grows in 2016 http://www.baltic-course.com/eng/analytics/?doc=130670 The civic empowerment of the Lithuanian population grew last year, experts from the Civil Society Institute said on Monday as they presented their annual Civic Empowerment Index (CEI), writes LETA/BNS, Mon, 26 Jun 2017 14:00:00 +0300 1498474800 Three to eight universities would be enough for Latvia http://www.baltic-course.com/eng/education/?doc=130671 Given the number of students and academic staff, three to eight universities would be enough for Latvia, Indrikis Muiznieks, rector of the University of Latvia, and Leonids Ribickis, rector of Riga Technical University (RTU), said on LNT commercial TV channel this morning, citing LETA. Mon, 26 Jun 2017 14:00:00 +0300 1498474800 Kyrgyzstan Humiliates Latvia. Minister Rinkevic adopts a wait-and-see approach... http://www.baltic-course.com/eng/direct_speech/?doc=130669 In May, the news came from Kyrgyzstan stating that four Latvian citizens were sentenced to 20 years each in prison. Such a tough punishment was also determined for Valeri Belokon. It should be immediately emphasized that the Latvian citizens are not actually imprisoned. The court issued the default judgment (a judgment given in default of appearance in a civil action linked to criminal proceedings). What this all is about? And how does this story has emerged? Mon, 26 Jun 2017 13:30:00 +0300 1498473000 Lietuvos Dujų Tiekimas purchased LNG from Cheniere http://www.baltic-course.com/eng/energy/?doc=130662 The natural gas supply and trading company Lietuvos Dujų Tiekimas (LDT), part of the state-controlled Lietuvos Energija energy company group signed a contract with the U.S. Cheniere Marketing International and purchased a LNG cargo. Lietuvos Dujų Tiekimas will store a part of natural gas purchased at a lower price in summer in Latvian Incukalns natural gas storage facility, LDT informed BC. Mon, 26 Jun 2017 11:40:00 +0300 1498466400 Substantial increase in demand for shashlik, cheese, beer and wine during Ligo! holidays http://www.baltic-course.com/eng/good_for_business/?doc=130657 ccording to retailers questioned by LETA, there has been a substantial increase in demand for shashlik (marinaded BBQ meat), cheese, beer and wine for the midsummer Ligo! holidays. Thu, 22 Jun 2017 19:50:00 +0300 1498150200 Usakovs keeps post of Riga mayor http://www.baltic-course.com/eng/markets_and_companies/?doc=130655 Harmony party leader Nils Usakovs has been elected as the Riga mayor for the third term. Thu, 22 Jun 2017 19:35:00 +0300 1498149300 Kieler Woche draws cruise ships http://www.baltic-course.com/eng/transport/?doc=130653 The Kieler Woche sailing regatta - the biggest maritime folk festival and sail sport event in northern Europe – is a big draw for cruise ships as well as many other vessels. Between the 17th and the 25th of June Kiel expects visits by a total of fifteen different luxury liners. One particularly special sight for thousands of onlookers was this Wednesday (June 21st.) when Cunard’s “Queen Elizabeth” and P&O’s “Arcadia” berthed side by side at the Ostseekai Cruise Terminal. Thu, 22 Jun 2017 19:30:00 +0300 1498149000 Purchases by Klaipėda FEZ companies exceeded EUR 200 million in Lithuania http://www.baltic-course.com/eng/good_for_business/?doc=130654 In 2016, investors operating in Klaipėda Free Economic Zone (FEZ) purchased goods and services for EUR 200,5 mln from Lithuanian suppliers, 1,9% more than a year ago. Last year was the first time when purchases by FEZ companies in Lithuania exceeded EUR 200 mln. Thu, 22 Jun 2017 19:00:00 +0300 1498147200 airBaltic Exhibits CS300 at Paris Air Show http://www.baltic-course.com/eng/transport/?doc=130651 The Latvian airline airBaltic from June 19 till June 21, 2017 participated in the world’s largest and oldest aviation exhibition Paris Air Show by presenting the CS300 aircraft in Bombardier exhibition pavilion. During the Paris Air Show the chief executive officer of airBaltic Martin Gauss personally met and presented the CS300 aircraft to Canadian government representatives, airBaltic representative informed BC. Thu, 22 Jun 2017 18:40:00 +0300 1498146000 Liviko increased its economic success due to Latvian border trade http://www.baltic-course.com/eng/markets_and_companies/?doc=130649 In 2016, the audited consolidated net turnover of AS Liviko, producer and seller of quality alcohol, was 129.7 mln euros and the company paid 70.6 mln euros in alcohol excise. The audited consolidated earnings before interest, taxes, depreciation and amortisation (EBITDA) of AS Liviko group was 5.8 mln euros and the net profit was 4 mln euros. The audited consolidated net turnover of AS Liviko grew by 8% in comparison with 2015, with a net profit of 42%, AS Liviko informed BC. Thu, 22 Jun 2017 17:40:00 +0300 1498142400 Baiba Rubesa presents Rail Baltica to the G7 Transport Ministers Meeting http://www.baltic-course.com/eng/transport/?doc=130639 Baiba Rubesa, CEO and Chairperson of the Management Board of the joint venture RB RAIL presented the Rail Baltica project to the G7 Transport Ministers Meeting on 22 June 2017, in Cagliari, Italy. Rail Baltica was indeed invited by the European Commissioner for Transport Violeta Bulc to take part in a session devoted to best practices and models of sustainable infrastructure. Thu, 22 Jun 2017 13:00:00 +0300 1498125600 The industrial producer price index in Estonia continued to increase in May http://www.baltic-course.com/eng/analytics/?doc=130629 According to Statistics Estonia, in May 2017, the producer price index of industrial output changed by 0.3% compared to April and by 4.2% compared to May 2016. Wed, 21 Jun 2017 18:20:00 +0300 1498058400 US ambassador visits Riga port http://www.baltic-course.com/eng/good_for_business/?doc=130631 US Ambassador to Latvia Nancy Pettit and embassy’s employees today made a visit to the Riga port, the Riga Freeport Administration reported. Wed, 21 Jun 2017 18:20:00 +0300 1498058400 Share of renewable energy resources in gross energy consumption increases in Latvia http://www.baltic-course.com/eng/analytics/?doc=130627 Provisional data of the Central Statistical Bureau (CSB) show that, in 2016 gross energy consumption1 in Latvia comprised 184.5 petajoules (PJ), which is only 0.3 % more than in 2016. Over the past five years (from 2011 to 2016), the gross energy consumption has not changed significantly, however the share of renewables in it has increased. Wed, 21 Jun 2017 18:10:00 +0300 1498057800 Lithuanian formin: China's exercise may contribute to tensions in Baltic Sea region http://www.baltic-course.com/eng/baltic_states_cis/?doc=130624 China's plans of taking part in the Russian war games in the Baltic Sea may contribute to the tensions in the region, says Lithuania's Foreign Minister Linas Linkevicius. Wed, 21 Jun 2017 18:00:00 +0300 1498057200 Gross inland fuel and energy consumption in Lithuania grew by 2.4 % in 2016 http://www.baltic-course.com/eng/analytics/?doc=130625 Statistics Lithuania informs that in 2016 gross inland fuel and energy consumption amounted to 7.3 mln tonnes of oil equivalent and, against 2015, grew by 2.4%. Wed, 21 Jun 2017 17:30:00 +0300 1498055400 Digitalisation in economy and society: new Eurostat publication http://www.baltic-course.com/eng/modern_eu/?doc=130610 More and more businesses conduct their activity electronically: they interact online with partners and customers. The internet has become the cornerstone for their e-business operations as it provides limitless capacities to connect people and businesses worldwide. New Eurostat publication shows some vital statistics. Wed, 21 Jun 2017 13:50:00 +0300 1498042200 Nortal issued bonds for 15 million euro to boost expansion http://www.baltic-course.com/eng/good_for_business/?doc=130608 The 15 million euro bond issue of Nortal, the multinational strategic change and technology company, which was fully subscribed by institutional renowned investors, will support the rapid growth of the business and be used for refinancing the existing obligations. Bonds were issued with five-year maturity and 5% coupon rate, Nortal announced. Wed, 21 Jun 2017 13:00:00 +0300 1498039200 Lithuania's Achema to buy less gas from Statoil this year http://www.baltic-course.com/eng/energy/?doc=130602 Lithuania's fertilizer manufacturer Achema , the country's single largest natural gas consumer, should buy less gas from Norway's Statoil concern this year due to changes in the gas pricing policies, writes LETA/BNS according to Verslo Zinios business daily information. Wed, 21 Jun 2017 12:00:00 +0300 1498035600 Connected Baltics and Buildit Hardware Accelerator announce a strategic partnership http://www.baltic-course.com/eng/good_for_business/?doc=130603 Connected Baltics OÜ, the exclusive SIGFOX operator in Estonia and Buildit Accelerator, one of the first accelerators in Europe with a focus on physical devices (hardware in combination with software), today announce a new strategic partnership. The partnership will combine Connected Baltics’s IoT nation-wide network coverage and expertise with Buildit Accelerator’s companies to deliver new solutions for increasing IoT market locally and worldwide, Connected Baltics and Buildit Accelerator informed BC. Wed, 21 Jun 2017 12:00:00 +0300 1498035600 Dissatisfaction with wages in Estonia has increased http://www.baltic-course.com/eng/analytics/?doc=130599 Despite an increase in wages and an improvement in coping, the dissatisfaction of employees with their wages has increased on year, figures from a survey published by the Salary Information Agency on Wednesday show LETA/BNS. Wed, 21 Jun 2017 11:40:00 +0300 1498034400 Fortum to open 2nd district cooling plant in Tartu http://www.baltic-course.com/eng/good_for_business/?doc=130600 Fortum Tartu AS is about on Thursday to open its second district cooling plant in the south Estonian city of Tartu, built for an investment of 3.5 mln euros, reports LETA/BNS. Wed, 21 Jun 2017 11:40:00 +0300 1498034400 Ventspils-based companies seek EUR 8.3 mln compensation for lost Nord Stream revenue http://www.baltic-course.com/eng/legislation/?doc=130601 Two companies Ventspils-based companies - Noord Natie Ventspils Terminals and Baltijas Ekspresis - are asking the Cabinet of Ministers to compensate them for the revenue they have lost because of the government’s refusal to allow the Freeport of Ventspils to participate in Nord Stream 2 gas pipeline project, LETA was told at the Baltic Association – Transport and Logistics (BATL). Wed, 21 Jun 2017 11:40:00 +0300 1498034400 Cost of living in Riga is 126th highest in the world http://www.baltic-course.com/eng/analytics/?doc=130598 Riga has been ranked the world’s 126th most expensive location and the cost of living in the Latvian capital is significantly higher than in the other two Baltic capitals – Tallinn and Vilnius, a survey by Mercer Human Research Consulting shows. Wed, 21 Jun 2017 11:30:00 +0300 1498033800 African, Asian, and European cities dominate the list of most expensive locations for working abroad http://www.baltic-course.com/eng/analytics/?doc=130597 In a rapidly changing world, mobility has become a core component of multinational organizations’ global talent strategy. To support the growing number of international assignees working in an increased number of locations, organizations are focusing on evaluating assignments from a cultural perspective, preparing for regional and lateral moves, and modifying compensation approaches to stay competitive. As organizations grapple with these challenges, they are working hard to accommodate the needs of their workforce and to support employees’ careers. According to Mercer’s 2017 Global Talent Trends Study, fair and competitive pay as well as opportunities for promotion are top priorities for employees this year – not surprising given the current climate of uncertainty and change. Wed, 21 Jun 2017 11:20:00 +0300 1498033200 Small Planet Airlines to introduce one more A320 in their fleet http://www.baltic-course.com/eng/good_for_business/?doc=130594 Lithuanian leisure carrier Small Planet Airlines expanded its fleet by adding one more Airbus aircraft in the beginning of this summer. In total fleet consists of 22 Airbus 320 and Airbus 321 aircraft. All of them are already booked for the summer season. During this period Small Planet Airlines plans to carry 1 million passengers, companies representative informed BC. Wed, 21 Jun 2017 08:00:00 +0300 1498021200 Shareholders approve new supervisory board of RB Rail http://www.baltic-course.com/eng/transport/?doc=130592 Shareholders in RB Rail, the Baltic joint venture in charge of Rail Baltica railroad project’s implementation, have approved the company’s new supervisory board, RB rail informed BC. Tue, 20 Jun 2017 18:10:00 +0300 1497971400 Russian rail car manufacturer UWC to set up service center in Estonia http://www.baltic-course.com/eng/good_for_business/?doc=130590 United Wagon Company (UWC), a major Russian manufacturer of railcars, is to open a service center for freight cars in Estonia. Tue, 20 Jun 2017 17:40:00 +0300 1497969600 The number of job vacancies in Latvia keeps increasing http://www.baltic-course.com/eng/analytics/?doc=130591 he data acquired by surveying enterprises and institutions and compiled by the Central Statistical Bureau (CSB) show thatat the end of the 1st quarter of 2017 there were 15.7 thousand job vacancies in the country, and the indicator has risen by 1.9 thousand or 13.6%, as compared to the 1st quarter of 2016, and by 1.3 thousand or 8.7%, compared to the end of 201 Tue, 20 Jun 2017 17:40:00 +0300 1497969600 Latvian insurance companies report EUR 1.13 mln in Q1 profit http://www.baltic-course.com/eng/good_for_business/?doc=130589 During the first quarter of this year, Latvian insurance companies generated EUR 1.131 mln in aggregate profit, which is 2,4 times more than in the same period last year, according to the data released by the Financial and Capital Market Commission (FCMC) writes LETA. Tue, 20 Jun 2017 17:30:00 +0300 1497969000 Latvian State Police arrests cars and money of suspected insolvency administrators http://www.baltic-course.com/eng/legislation/?doc=130588 The State Police has arrested three premium class cars and EUR 380,000 financial resources of the suspected insolvency administrators, reports LETA/BNS. Tue, 20 Jun 2017 17:20:00 +0300 1497968400 Revenue of confectionery co Kalev up 6.9% to EUR 46.7 mln in 2016 http://www.baltic-course.com/eng/good_for_business/?doc=130587 The sales revenue of the Estonian confectionery maker Kalev owned by the Norwegian Orkla group increased by 6.9% to 46.7 mln euros in 2016, while profit for the same period surged 31.2% to 5.5 mln euros, reports LETA. Tue, 20 Jun 2017 17:10:00 +0300 1497967800 Strike of Neste employees in Finland not to affect fuel prices in Estonia http://www.baltic-course.com/eng/markets_and_companies/?doc=130586 Employees of Finland's biggest oil company Neste are planning to go on strike next week, but fuel sellers in Estonia do not believe that the strike will have an effect on fuel prices in Estonia, informed LETA/BNS. Tue, 20 Jun 2017 17:00:00 +0300 1497967200 Estonia to announce tender for procurement of automatic weapons http://www.baltic-course.com/eng/good_for_business/?doc=130584 The Estonian Center for Defense Investment is about to announce a tender for the procurement of automatic weapons for the defense forces and other institutions of the state shortly. Tue, 20 Jun 2017 16:30:00 +0300 1497965400 Lithuania jumps to 16th place on European Innovation Scoreboard http://www.baltic-course.com/eng/analytics/?doc=130585 Lithuania climbed eight positions to the 16th place on the 2017 European Innovation Scoreboard published by the European Commission (EC), posting the highest increase among all 28 countries of the European Union, however, still lagging behind Estonia. Tue, 20 Jun 2017 16:30:00 +0300 1497965400 Latvia had EU's 2nd largest share of non-residents in structure of government debt in 2016 http://www.baltic-course.com/eng/finances/?doc=130583 Last year, non-residents’ share in the structure of Latvia’s government debt was the second highest in the European Union (EU), with non-residents holding 72.4% of Latvia’s government debt, the latest Eurostat data shows. Tue, 20 Jun 2017 15:30:00 +0300 1497961800 Nanol’s additive proven to reduce hydrogen wear of metals http://www.baltic-course.com/eng/Technology/?doc=130579 Originally designed for fuel saving, Nanol’s additive now enters completely new areas of use, writes Industrial News Service. Tue, 20 Jun 2017 13:15:00 +0300 1497953700 Four EU states pass on post-Brexit agency spoils http://www.baltic-course.com/eng/baltic_states/?doc=130576 Only four out of the 27 remaining EU member states do not want to host any of the two EU agencies currently located in the United Kingdom: Slovenia, and the three Baltic states – Latvia, Lithuania and Estonia, writes Euobserver. Tue, 20 Jun 2017 12:20:00 +0300 1497950400 Ecofin: an account of recent activities in the financial sector http://www.baltic-course.com/eng/modern_eu/?doc=130573 The Commission has reached a “principle deal” with the member states to restart EU’s securitisation markets and to strengthen funds for venture capital and social entrepreneurship. Commission presented to the member states’ finance ministers the Capital Markets Union mid-term review and expressed hope for a strong political support. Commission vice-president V. Dombrovskis presented these and other Ecofin actions. Tue, 20 Jun 2017 11:30:00 +0300 1497947400 Nokia launches portfolio of digital health products designed to inspire people to take control of their health http://www.baltic-course.com/eng/Technology/?doc=130571 Nokia today announced the availability of the largest, most comprehensive line of connected consumer health products in the market. Completing the transition of products from the Withings brand, Nokia trackers, scales, vital health devices and home products will now be available in-store and online through top retailers. Tue, 20 Jun 2017 11:10:00 +0300 1497946200 DONBASS: Humanitarian crisis in silence. Since 2014 until now. http://www.baltic-course.com/eng/direct_speech/?doc=130569 Late autumn 2014 we met with Alexander Hug, principal deputy of the OSCE observation mission in Ukraine for the first time. It was Brussels, the European Parliament and the hearing on the future of Minsk Agreements held there. Now we are again together. This time in Helsinki talking about the future of Minsk Agreements. Tue, 20 Jun 2017 08:00:00 +0300 1497934800 Estonia's Taxify applying for operating license in London http://www.baltic-course.com/eng/good_for_business/?doc=130568 The Estonian ridesharing service Taxify is planning to expand to London this year and the company is applying for a license to be able to operate in UK's capital, writes LETA/BNS. Mon, 19 Jun 2017 17:20:00 +0300 1497882000 “Weak Monument” wins the curator call for Estonia at the 2018 Venice Architecture Biennale http://www.baltic-course.com/eng/forums/?doc=130566 Estonian Centre of Architecture announced the winner of the International Curator Competition for the Estonian exposition at the 2018 La Biennale di Venezia Architecture Exhibition. Mon, 19 Jun 2017 17:10:00 +0300 1497881400 More and more high school graduates in Latvia prefer work over studies http://www.baltic-course.com/eng/education/?doc=130567 Although 54% of young Latvians, aged 15 to 19, plan to study at university after graduating from high school, 33% are not sure about continuing their education beyond high school, a survey by the Swedbank Institute of Finances shows. Mon, 19 Jun 2017 17:10:00 +0300 1497881400 airBaltic Number of Passengers Increases by 20% http://www.baltic-course.com/eng/good_for_business/?doc=130563 . In May 2017, the Latvian airline airBaltic carried 316 915 passengers or 20% more than in the same period of 2016 throughout its network spanning Europe, Scandinavia, Russia, CIS and the Middle East. During the first five months of 2017, airBaltic has transported a total of 1 193 243 passengers, airBaltic announced. Mon, 19 Jun 2017 16:10:00 +0300 1497877800 Bank of Lithuania: Prices driven by growing global prices, inflation to slow down in 2018 http://www.baltic-course.com/eng/analytics/?doc=130554 Prices in Lithuania are this year driven by global tendencies – growing prices for oil and food, analysts of the central Bank of Lithuania say, projecting a slow-down in the pace of inflation next year, writes LETA/BNS. Mon, 19 Jun 2017 14:45:00 +0300 1497872700 Estonia to follow Latvia's suit with fishing restrictions for amateurs http://www.baltic-course.com/eng/markets_and_companies/?doc=130553 In Latvia limits apply to the quantities of fish allowed to be caught in recreational fishing and it is high time for Estonia to follow the example of Latvia, especially considering that Latvian recreational fishers are very active both in Lake Peipsi and in Parnu Bay in Estonia, Rainer Vakra, chairman of the Riigikogu environmental committee, said LETA/BNS. Mon, 19 Jun 2017 14:40:00 +0300 1497872400 Lembergs becomes Ventspils mayor again http://www.baltic-course.com/eng/markets_and_companies/?doc=130551 The city council of the northwestern Latvian city Ventspils today re-elected Aivars Lembergs (For Latvia and Ventspils) as the port city's mayor again, writes LETA/BNS. Mon, 19 Jun 2017 14:30:00 +0300 1497871800 Estonian parlt ratifies Rail Baltic accord http://www.baltic-course.com/eng/good_for_business/?doc=130550 The Estonian parliament on Monday ratified the agreement on the development of the Rail Baltic railway link from Tallinn to the Lithuanian-Polish border, informed LETA/BNS. Mon, 19 Jun 2017 14:10:00 +0300 1497870600 Sakret construction materials maker increases production capacity in Estonia http://www.baltic-course.com/eng/good_for_business/?doc=130549 Sakret Holdings construction materials producer has increased the production capacity of its Estonian enterprise Sakret OU, hiring additional workers and switching to a two-shift work schedule, LETA was told at the company. Mon, 19 Jun 2017 13:40:00 +0300 1497868800