The Baltic Course | Baltic States news & analytics http://www.baltic-course.com/eng/ The Baltic Course - International Internet Magazine. Baltic States News & Analysis, Baltic market reviews eng Mon, 23 Oct 2017 05:26:26 +0300 Baltic Course, The baltic-course@baltic-course.com dmitrijs@mansbirojs.lv General government budget surplus amounts to 9.5 mln euros in Latvia in October http://www.baltic-course.com/eng/analytics/?doc=134324 Results of the October 2017 Notification on General Government Budget Deficit and Debt[1] compiled by the Central Statistical Bureau (CSB) in line with the methodology of the European System of Accounts (ESA 2010) show that, in 2016 general government budget surplus accounted for EUR 9.5 mln or 0.04% of the Gross Domestic Product (GDP), whereas general government consolidated gross debt amounted to EUR 10 091.6 mln or 40.6% of the GDP. Fri, 20 Oct 2017 20:00:00 +0300 1508518800 In 2016, the general government surplus totalled EUR 103 mln in Lithuania http://www.baltic-course.com/eng/analytics/?doc=134319 Statistics Lithuania informs that in 2016, based on revised data, the general government surplus totalled EUR 103 million, or 0.3% of gross domestic product (GDP). In 2015, the general government deficit stood at 0.2% of GDP. Fri, 20 Oct 2017 19:30:00 +0300 1508517000 In September, level of producer prices in Latvian industry increased by 0.3% http://www.baltic-course.com/eng/analytics/?doc=134318 Data of the Central Statistical Bureau (CSB) show that, compared to August, in September 2017 the level of producer prices in Latvian industry grew by 0.3%. Prices of products sold on the domestic market increased by 0.3%, and prices of exported products went up by 0.2%. Fri, 20 Oct 2017 19:00:00 +0300 1508515200 Wage pressure keeps the construction price index rising in Estonia http://www.baltic-course.com/eng/analytics/?doc=134315 According to Statistics Estonia, the change of the construction price index in the 3rd quarter of 2017 was 0.9% compared to the previous quarter and 1.7% compared to the 3rd quarter of 2016. Fri, 20 Oct 2017 18:30:00 +0300 1508513400 The industrial producer price index didn’t change in Estonia in September http://www.baltic-course.com/eng/analytics/?doc=134312 According to Statistics Estonia, in September 2017, the producer price index of industrial output changed by 0.0% compared to August and by 4.5% compared to September 2016. Fri, 20 Oct 2017 17:00:00 +0300 1508508000 Estonian transit stands to gain from climate change http://www.baltic-course.com/eng/transport/?doc=134322 The north-south trade route emerging as a new option for the transport of goods as a result of climate change is one of the exciting future possibilities for Estonia, Marko Mihkelson, chairman of the foreign affairs committee of the parliament of Estonia, said in his opening speech at a conference in Helsinki on Friday, informs LETA/BNS. Fri, 20 Oct 2017 17:00:00 +0300 1508508000 RB RAIL switches to electronic procurement system http://www.baltic-course.com/eng/good_for_business/?doc=134325 Due to changes in the Latvian Public Procurement law, all Rail Baltica tender applications administered by RB RAIL AS onwards will be processed using free of charge electronic information system and its sub-system e-tender. The Electronic Procurement System (EPS) is currently an alternative to previous application and proposal submission system in Latvia that will completely replace the previous system of paper proposal submission, informed BC communications and government affairs manager Ilze Rassa. Fri, 20 Oct 2017 17:00:00 +0300 1508508000 Capfield: Porto Franco in Tallinn would be good for port area's development http://www.baltic-course.com/eng/good_for_business/?doc=134313 Speaking on the sidelines of the opening of the Nautica shopping center after a comprehensive overhaul on October 19th, Ruben Gornischeff, board member of Nautica's developer Capfield OU, said that completion of the Porto Franco center situated not far from Nautica would be good for the development of the entire area of the Tallinn passenger port, informs LETA/BNS. Fri, 20 Oct 2017 14:00:00 +0300 1508497200 Capfield: Estonia's retail business to concentrate in couple of big malls http://www.baltic-course.com/eng/markets_and_companies/?doc=134314 The Estonian retail market is increasingly specializing and most of the retail activity will concentrate in a couple of big shopping centers in the future, Ruben Gornischeff, board member of the real estate developer Capfield OU, said at the opening of Capfield's Nautica shopping center in Tallinn on October 19th, cites LETA/BNS. Fri, 20 Oct 2017 14:00:00 +0300 1508497200 Foreign, Lithuanian firms eye investment in aircraft repairs at Kaunas FEZ http://www.baltic-course.com/eng/good_for_business/?doc=134310 At least four foreign and one Lithuanian companies are interested in aircraft maintenance, repairs and overhaul (MRO) at the Kaunas free economic zone (FEZ), however, the investments that would create up to 2,000 well-paid jobs with an average monthly salary of over 2,000 euros are stalled by the government's indecision, Verslo Zinios business daily said, cites LETA/BNS. Fri, 20 Oct 2017 13:00:00 +0300 1508493600 TV3 Latvia changes name to All Media Latvia, gets new supervisory board http://www.baltic-course.com/eng/markets_and_companies/?doc=134311 TV3 Latvia has changed name to All Media Latvia, informs LETA, according to Firmas.lv. Fri, 20 Oct 2017 13:00:00 +0300 1508493600 Ambassador: British-Latvian bilateral relations will become even stronger http://www.baltic-course.com/eng/direct_speech/?doc=134297 Busy work is under way to make bilateral regions between the UK and Latvia even stronger, British Ambassador to Latvia Keith Shannon said in an interview with LETA. Fri, 20 Oct 2017 12:00:00 +0300 1508490000 Proposed Electronic Communications Code: reforming European telecoms http://www.baltic-course.com/eng/good_for_business/?doc=134302 The EU’s telecoms markets are subject to changes: the member states need more coordination, legal certainty, clear regulations, investments and incentives. The proposed Code aims to achieve sufficiently long minimum duration for spectrum assignments for 5G across Europe. The EU special agency, the Body of European Regulators for Electronic Communications (BEREC) based in Riga, is an important actor to ensure consistency. Fri, 20 Oct 2017 12:00:00 +0300 1508490000 Solidarity Tax Law - not in line with Latvian Constitution http://www.baltic-course.com/eng/legislation/?doc=134303 The Constitutional Court in Latvia ruled on October 19th that Section 6 of the Solidarity Tax Law was not in line with the principle of equality enshrined in the Constitution, informs LETA. Fri, 20 Oct 2017 12:00:00 +0300 1508490000 Competition Council cleared the acquisition of 100% Palink shares ant control by Rimi Lietuva http://www.baltic-course.com/eng/markets_and_companies/?doc=134304 On October 18th, the Competition Council cleared the acquisition of 100% of UAB Palink (PALINK) shares ant control by UAB Rimi Lietuva (RIMI) on condition that RIMI will sell part of its business related to retail trade, informed BC Ieva Racickaite from the Lithuanian Competition Council. Fri, 20 Oct 2017 12:00:00 +0300 1508490000 Rietumu is acknowledged as one of the most valuable Latvia’s enterprises http://www.baltic-course.com/eng/finances/?doc=134316 Rietumu Bank is included in the TOP 10 Latvia’s most valuable enterprises recently presented by NASDAQ OMX Riga and consulting & investment company Prudentia, reported BC Eleonora Gailisha from Rietumu’s press service. Fri, 20 Oct 2017 12:00:00 +0300 1508490000 Tele2 raises capacities in Baltics in Q3 http://www.baltic-course.com/eng/good_for_business/?doc=134299 Tele2 mobile operator in Latvia closed the first nine months of 2017 with EUR 86.6 million in turnover, up 10.7% against the same period a year ago, when the company achieved EUR 78.3 million in turnover, the company’s representatives told LETA. In Lithuania, Tele2 posted 1.439 billion Swedish kronor (EUR 150 mln) in revenue in the first nine months of 2017, up by 18.3% and sales of the Estonian unit of Tele2 in the third totaled 182 million Swedish kronor or around 18.9 million euros, remaining on the same level, informs LETA. Fri, 20 Oct 2017 11:00:00 +0300 1508486400 Ex-politician Slesers' son appears on list of Latvia's top earners http://www.baltic-course.com/eng/analytics/?doc=134300 Edvards Slesers, a son of Latvia’s ex-politician Ainars Slesers, has for the first time made it to the list of Latvia’s biggest earners, according to Latvia’s Top100 Earners published by Dienas Bizness, cites LETA. Fri, 20 Oct 2017 11:00:00 +0300 1508486400 Hacker Calovskis: IT security improving, but number of security holes also rising http://www.baltic-course.com/eng/Technology/?doc=134301 While IT security has been steadily improving, the number of security holes has also been rising, Deniss Calovskis, who was convicted of cyber crimes in the United States last December, said in an interview with Latvian Television yesterday, reports LETA. Fri, 20 Oct 2017 11:00:00 +0300 1508486400 Maxima gets permission to open department store at Riga Plaza mall http://www.baltic-course.com/eng/markets_and_companies/?doc=134298 The Latvian Competition Council has given permission to Maxima Latvija retailer to open a Maxima XXX department store at Riga Plaza shopping mall, the council’s representatives told LETA. Fri, 20 Oct 2017 10:30:00 +0300 1508484600 Telia's Q3 sales grew by 3% in Estonia http://www.baltic-course.com/eng/good_for_business/?doc=134294 Revenue of the Estonian operation of Telia totaled 698 million Swedish kronor in the third quarter of this year, marking an increase of 3% over the same period in 2016, informs LETA/BNS. Fri, 20 Oct 2017 10:00:00 +0300 1508482800 Restored Freedom Monument unveiled in Riga http://www.baltic-course.com/eng/real_estate/?doc=134295 Each individual’s achievements, knowledge and day-to-day work is what makes the foundation of a strong state, President Raimonds Vejonis said as he unveiled the landmark Freedom Monument in the center of Riga yesterday, reports LETA. Fri, 20 Oct 2017 10:00:00 +0300 1508482800 Estonia wishes to help continue dialogue between Turkey, EU http://www.baltic-course.com/eng/baltic_states/?doc=134296 Estonian Minister of Foreign Affairs Sven Mikser at a meeting with Turkey's Minister for European Union Affairs Omer Celik reaffirmed Estonia's desire to contribute to continuing the dialogue between the EU and Turkey, writes LETA/BNS. Fri, 20 Oct 2017 10:00:00 +0300 1508482800 FinMin: Lithuania must save for future amid growing economy http://www.baltic-course.com/eng/analytics/?doc=134293 Lithuania formed a surplus 2018 state budget for the first time since regaining independence in 1990, says Finance Minister Vilius Sapoka, adding this is necessary amid fast economic development and the need to accumulate reserves for a rainy day, reports LETA/BNS. Fri, 20 Oct 2017 09:00:00 +0300 1508479200 Decline in number of both newborn and deaths registered in Latvia in 9 months http://www.baltic-course.com/eng/analytics/?doc=134276 Provisional demographic indicators compiled by the Central Statistical Bureau (CSB) show that during the first nine months of 2017 15 723 babies were born in Latvia, which is 1 113 children fewer than in the corresponding period of the last year. Thu, 19 Oct 2017 19:00:00 +0300 1508428800 Cloud computing used by 16.7% of enterprises in Latvia http://www.baltic-course.com/eng/analytics/?doc=134272 Data of the Community Survey on ICT Usage and E-Commerce in Enterprises conducted by the Central Statistical Bureau of Latvia (CSB) show that at the beginning of 2017 out of the enterprises employing 10 or more persons 98.7% used Internet, while 62.9% of the enterprises had website. Thu, 19 Oct 2017 18:00:00 +0300 1508425200 Estonian government approves energy sector development plan until 2030 http://www.baltic-course.com/eng/energy/?doc=134273 The Estonian government on October 19th finally endorsed the national development plan of the energy sector until 2030, according to which Estonia should have by 2030 a functioning open and free fuel and electricity market and the country's power system should be in the European Union frequency range, informs LETA/BNS. Thu, 19 Oct 2017 16:00:00 +0300 1508418000 LDz: Lithuania's rhetoric on Renge railroad section understandable http://www.baltic-course.com/eng/transport/?doc=134270 Lithuania’s rhetoric that Latvijas Dzelzcels (LDz, Latvian Railways) rail company has no reasons to claim compensations for the dismantling of the Mazeikai-Renge railroad section is quite understandable, given Lithuanian media reports that the fines would have to be paid with taxpayers’ money, LDz representative Maris Ozols told LETA. Thu, 19 Oct 2017 15:00:00 +0300 1508414400 ABLV Bank co-owners Fils and Bernis top Latvia's millionaires list again http://www.baltic-course.com/eng/analytics/?doc=134268 For over ten years already, two ABLV Bank co-owners have been ranked first in the annual top of Latvia's millionaires collated by the business newspaper Dienas Bizness, cites LETA. Thu, 19 Oct 2017 14:00:00 +0300 1508410800 Orlen Lietuva nets EUR 140 mln in profit in Q1-3 http://www.baltic-course.com/eng/good_for_business/?doc=134269 Polish-owned Lithuanian oil company Orlen Lietuva posted a net profit of 140.8 million euros (USD 165.4 mln) for the first nine months of 2017, up 16%, from 120.9 million euros (USD 142.1 mln), a year ago, reports LETA/BNS. Thu, 19 Oct 2017 14:00:00 +0300 1508410800 SBA concern to build EUR 22 mln logistics center, furniture component plant in Lithuania http://www.baltic-course.com/eng/good_for_business/?doc=134265 SBA concern, which operates seven furniture factories in Lithuania, Russia and Belarus, will invest 22 million euros in construction of a logistics center and a factory of furniture components close to Lithuania's port city of Klaipeda, with the construction planned to start next spring, reports LETA/BNS. Thu, 19 Oct 2017 13:00:00 +0300 1508407200 Estonia to make payment of EUR 1.7 mln to Rail Baltic joint venture http://www.baltic-course.com/eng/transport/?doc=134266 On October 19th, the Estonian government supported making a down payment of 1.7 million euros to the Estonian enterprise OU Rail Baltic of the Rail Baltic joint venture RB Rail AS to cover its operating costs, informs LETA/BNS. Thu, 19 Oct 2017 13:00:00 +0300 1508407200 Eesti Pank: savings still growing faster than loans http://www.baltic-course.com/eng/finances/?doc=134253 Rising incomes and a broad tendency to save have led to household savings increasing more than 9% on year, Bank of Estonia economist Taavi Raudsaar said, cites LETA/BNS. Thu, 19 Oct 2017 12:00:00 +0300 1508403600 European business needs a seamless customs transition to avoid a heavy blow from Brexit http://www.baltic-course.com/eng/markets_and_companies/?doc=134258 Brexit Transitional Period must be agreed as soon as possible to protect EU and UK competitiveness and ensure a frictionless customs and trade environment can be maintained, say top European businesses and trade bodies, reported BC CER's press service. Thu, 19 Oct 2017 12:00:00 +0300 1508403600 Estonian PM: Europe is currently seeing both a shortage of labor and a shortage of jobs http://www.baltic-course.com/eng/analytics/?doc=134259 Estonian Prime Minister Juri Ratas and Minister of Health and Labor Jevgeni Ossinovski participated in a meeting held in Brussels, in which leaders of European Union institutions and representatives of European employers and workers discussed ways to bolster the economy as well as the social well-being of Europe, informs LETA/BNS. Thu, 19 Oct 2017 12:00:00 +0300 1508403600 Trade balance in national economy: EU’s assessment for 2016-17 http://www.baltic-course.com/eng/good_for_business/?doc=134260 European Union is one of the main trading blocks in the world. The 19 eurozone states are doing generally better than the EU-28: the latter recorded €5.1 bn deficit in trade in goods with the rest of the world in 2017 (in 2016 the deficit was €8.2 bn). But the eurozone countries are showing quite good results: a surplus of €145.3 bn in 2017, compared with a surplus of €172.2 bn in 2016; trade within the block has risen to about €1,2 trillion. Thu, 19 Oct 2017 12:00:00 +0300 1508403600 Acquisition of MTG’s business in Baltics completed http://www.baltic-course.com/eng/markets_and_companies/?doc=134255 On October 18th, the process of Swedish media concern Modern Times Group (MTG) selling its Baltic business to international assets manager Providence Equity Partners (Providence) has been completed, and the new company, combining all its businesses in the Baltic states, will be named All Media Baltics, said the company’s head Pierre Danon, informs LETA. Thu, 19 Oct 2017 11:00:00 +0300 1508400000 Most people in Estonia believe in EU's positive impact http://www.baltic-course.com/eng/analytics/?doc=134256 According to a poll carried out by the European Parliament this fall, 81% Estonian citizens believe that Estonia has benefitted from being a member of the European Union, while the average indicator in the EU stands at 64%, reports LETA/BNS. Thu, 19 Oct 2017 11:00:00 +0300 1508400000 Lithuania's BOD Group with Norwegians to take part in EUR 2.5 bln project in Iran http://www.baltic-course.com/eng/good_for_business/?doc=134257 Lithuania's renewable energy and high-technology company BOD Group will join a Norwegian company Saga Energy in a 2.5-billion-euro project to build solar power plants in Iran, informs LETA/BNS. Thu, 19 Oct 2017 11:00:00 +0300 1508400000 Riga plans to close 42 gambling halls in 5 years http://www.baltic-course.com/eng/markets_and_companies/?doc=134251 The Riga City Council today supported the initiative on closing another 33 gambling halls in the Latvian capital city’s historical center, which means that in five years 42 gambling halls will be closed in the city, LETA learned from the City Council. Thu, 19 Oct 2017 10:00:00 +0300 1508396400 Airbus/Bombardier deal will also increase airBaltic's value http://www.baltic-course.com/eng/good_for_business/?doc=134252 The deal between the European aircraft manufacturer Airbus and Canadian manufacturer Bombardier on the purchase of majority shares in Bombardier's C-Series jet project also increases the value of Latvia's national airline airBaltic, aviation expert Talis Linkaits told LETA. Thu, 19 Oct 2017 10:00:00 +0300 1508396400 Swedbank Group is most valuable company in Baltics http://www.baltic-course.com/eng/analytics/?doc=134254 The most valuable enterprise in the Baltic countries is Swedbank Group and the Latvian state-owned energy group Latvenergo is more valuable than the Estonian state-owned energy company Eesti Energia, it can be seen from a study carried out by the investment bank Prudentia and the Riga stock exchange, cites LETA/BNS. Thu, 19 Oct 2017 10:00:00 +0300 1508396400 Turnover of TNT Latvia reached EUR 4.25 mln in 5 months http://www.baltic-course.com/eng/good_for_business/?doc=134249 TNT Latvia transportation company in the first five months of 2017 generated EUR 4.25 million in turnover, while its profit reached EUR 170,564, writes LETA, according to Firmas.lv business database. Thu, 19 Oct 2017 09:00:00 +0300 1508392800 Estonian minister discusses combating spread of fentanyl with Maryland deputy governor http://www.baltic-course.com/eng/legislation/?doc=134250 Estonian Minister of the Interior Andres Anvelt and Maryland Deputy Governor Boyd Rutherford on Wednesday exchanged experience on the fight against illicit drugs, mostly fentanyl, as the use of synthetic opioids is a big problem both in Estonia and the United States, informs LETA/BNS. Thu, 19 Oct 2017 09:00:00 +0300 1508392800 New digital publication presenting the life of women and men in Europe http://www.baltic-course.com/eng/analytics/?doc=134231 Our lives are filled with different milestones, such as starting school, leaving the parental home and starting work, getting married, having children, retiring… When it comes to education, employment, careers and earnings, but also childcare, health and nutrition habits, or cultural, sports and internet habits, there are large differences between women and men but also between EU Member States. Wed, 18 Oct 2017 18:00:00 +0300 1508338800 Freight turnover of Transiidikeskus grows by 2.9% in September http://www.baltic-course.com/eng/good_for_business/?doc=134236 The freight terminals of Transiidikeskuse AS handled 263,600 tons of cargoes in September, 2.9% more than in the same month in 2016, reports LETA/BNS. Wed, 18 Oct 2017 18:00:00 +0300 1508338800 Liepaja port to be developed for service of Panamax class vessels http://www.baltic-course.com/eng/transport/?doc=134235 Latvia’s southwestern Liepaja port will be developed into a port for service of Panamax class vessels, said Liepaja Special Economic Zone (SEZ) administrator Janis Lapins at the Latvian Ports, Transit and Logistics Council meeting today, cites LETA. Wed, 18 Oct 2017 17:00:00 +0300 1508335200 Lithuanian Railways to rebuild Renge tracks http://www.baltic-course.com/eng/transport/?doc=134230 Lietuvos Gelezinkeliai (Lithuanian Railways, LG) should shortly start rebuilding the 19-km railway stretch from Mazeikiai, northern Lithuania, to the Latvian city of Renge dismantled nearly a decade ago, a move that recently resulted in an EC fine of nearly 28 million euros against the state-run company, informs LETA/BNS. Wed, 18 Oct 2017 15:00:00 +0300 1508328000 Latvenergo named Latvia's most valuable company for the 10th time http://www.baltic-course.com/eng/good_for_business/?doc=134232 Joint-stock power utility Latvenergo has been named Latvia's most valuable company for the tenth time, writes LETA, according to Prudentia and Nasdaq Riga's annual ranking of Latvia's most valuable companies. Wed, 18 Oct 2017 15:00:00 +0300 1508328000 MFA: Latvia sees EU as solution rather than problem http://www.baltic-course.com/eng/baltic_states/?doc=134225 At the beginning of his official visit to Luxembourg on October 17, Latvian Foreign Minister Edgars Rinkevics delivered a public lecture at the University of Luxembourg and met with members of the Latvian diaspora in Luxembourg and the Luxembourg-Latvia association, LETA learned from the Latvian Foreign Ministry. Wed, 18 Oct 2017 13:00:00 +0300 1508320800 Rigas Siltums will help its 230 employees to find new jobs http://www.baltic-course.com/eng/energy/?doc=134226 Rigas Siltums heating company will help its 230 employees that the company has to fire to find new jobs, said the company’s board chairman Normunds Talcis in an interview with the Latvian public radio on Wednesday, cites LETA. Wed, 18 Oct 2017 13:00:00 +0300 1508320800 Putin awards editor-in-chief of Lithuania's Russian-language weekly http://www.baltic-course.com/eng/good_for_business/?doc=134228 Russia's president has awarded the Medal of Alexander Pushkin, a state decoration, to Valerij Tretjakov, editor-in-chief of Lithuania's Russian-language weekly newspaper Litovskij Kurjer, cites LETA/BNS. Wed, 18 Oct 2017 13:00:00 +0300 1508320800 Several Latvian universities included in Emerging Europe and Central Asia university ranking; Tartu among leaders http://www.baltic-course.com/eng/education/?doc=134213 The University of Latvia (LU), the Riga Technical University (RTU), Riga Stradins University (RSU), and the Latvia University of Agriculture (LLU), have been included in the 2017 rating of QS University Rankings: ECCA (Emerging Europe and Central Asia), informs LETA. Wed, 18 Oct 2017 12:00:00 +0300 1508317200 Poverty and social exclusion in EU and Baltics: present situation http://www.baltic-course.com/eng/modern_eu/?doc=134217 It seems that the International Day for the Eradication of Poverty (17 October) has been unnoticed in the Baltic States. However, this issue is quite urgent both in the EU and in the Baltics; and the reduction of the number of persons at risk of poverty or social exclusion in the EU is one of the key targets of the EU-2020 strategy. Wed, 18 Oct 2017 12:00:00 +0300 1508317200 Telia promises to help digitalization of society after merger of LMT, Lattelecom companies http://www.baltic-course.com/eng/Technology/?doc=134218 If the merger of Latvijas Mobilais Telefons (LMT) and Lattelecom telecommunications companies is implemented, Scandinavian telecommunications concern Telia Company (Telia) promises to drive a stronger innovation capacity and help digitalization of the society in Latvia, said Telia Senior Vice President Robert Andersson in a letter to the Latvian government, cites LETA. Wed, 18 Oct 2017 12:00:00 +0300 1508317200 Fonterra opens path for Lithuanian Rokiskio Suris' mozzarella to China http://www.baltic-course.com/eng/good_for_business/?doc=134219 Rokiskio Suris (Rokiskis Cheese), one of Lithuania's biggest dairy companies, will soon export more than 800 tons of mozzarella to China, with the deal facilitated by New Zealand's Fonterra that recently invested in the Lithuanian enterprise, informs LETA/BNS. Wed, 18 Oct 2017 12:00:00 +0300 1508317200 Depo remains largest company in construction industry in 2016 in Latvia http://www.baltic-course.com/eng/analytics/?doc=134229 With a turnover of EUR 203.417 million, construction supplies retailer Depo DIY was the leader in Latvia's construction industry in 2016, according to the Latvian Business Report 2017 collated by Firmas.lv and LETA. Wed, 18 Oct 2017 12:00:00 +0300 1508317200 Baltics register highest annual inflation in EU in September http://www.baltic-course.com/eng/analytics/?doc=134212 The Baltic states registered the highest annual inflation among other EU member states in September 2017, writes LETA, according to the latest Eurostat report. Wed, 18 Oct 2017 11:00:00 +0300 1508313600 Veolia files claim against Vilnius Energy at Stockholm arbitration http://www.baltic-course.com/eng/energy/?doc=134214 Veolia, a French concern that withdrew from the Vilnius heating sector last spring, along with its company Vilniaus Energija (Vilnius Energy) have filed a suit against the municipality and the municipal company Vilniaus Silumos Tinklai (Vilnius Heating Network, VST) with the Stockholm arbitration, writes LETA. Wed, 18 Oct 2017 11:00:00 +0300 1508313600 Germany’s Hella to invest EUR 15-20 mln in Kaunas annually http://www.baltic-course.com/eng/good_for_business/?doc=134215 Hella, German manufacturer of lighting technology and electronics products for the automotive industry that opened construction of a factory in the Kaunas free economic zone (FEZ) in early October 2017, intends to invest 15-20 million euros annually in Lithuania over the next few years, says the company's board member Gerold Lucas, cites LETA/BNS. Wed, 18 Oct 2017 11:00:00 +0300 1508313600 EUR 31 mln to be earmarked for strengthening Latvia’s border with Russia, Belarus http://www.baltic-course.com/eng/baltic_states_cis/?doc=134207 The Latvian government today supported the proposal of Interior Ministry for long-term liability in order to ensure more than EUR 31 million allocation for strengthening of Latvia’s border with Russia and Belarus in 2017-2020, informs LETA. Wed, 18 Oct 2017 10:00:00 +0300 1508310000 Achemos Grupe expects loans from European banks http://www.baltic-course.com/eng/energy/?doc=134210 Achemos Grupe (Achema Group), one of Lithuania's largest business conglomerates, expects securing large loans from European banks for new acquisitions and investments in Klasco stevedorer and other companies in the group, says CEO Audrius Bendaravicius, cites LETA/BNS. Wed, 18 Oct 2017 10:00:00 +0300 1508310000 Estonian official: nobody objecting to EU’s CO2 limit on power plant subsidies http://www.baltic-course.com/eng/energy/?doc=134208 The European Commission's proposal for a carbon dioxide limit on power plant subsidies is supported by the Council of Ministers, and now the issue is more how it can be managed, Estonia's chief energy official told Euractiv, reports LETA/BNS. Wed, 18 Oct 2017 09:00:00 +0300 1508306400 2nd Shell vessel arrived in Klaipeda port http://www.baltic-course.com/eng/good_for_business/?doc=134209 Cardissa, a small gas carrier of one of the world's largest gas trading companies Shell, arrived in the Lithuanian port city of Klaipeda on October 17h, informs LETA/BNS. Wed, 18 Oct 2017 09:00:00 +0300 1508306400 Chinese dairy auditors satisfied with Estonia's supervisory system http://www.baltic-course.com/eng/good_for_business/?doc=134206 Chinese dairy auditors who visited Estonia in mid-October 2017 were satisfied with the food supervision system of Estonia, which allows to move forward towards opening the Chinese market to an Estonian dairy company that wishes to start exporting infant formulae to China, informs LETA/BNS. Wed, 18 Oct 2017 08:00:00 +0300 1508302800 Tieto told to pay EUR 270,000 more for failure of infosystem project in Estonia http://www.baltic-course.com/eng/Technology/?doc=134190 The Estonian Ministry of Social Affairs, Tieto Estonia AS and OU Icefire have concluded a compromise whereby the Estonian arm of the Finnish IT group Tieto will pay the ministry 270,000 euros for the failure of the SKAIS2 project to develop a new information system for the Estonian social insurance authority, reports LETA/BNS. Tue, 17 Oct 2017 17:00:00 +0300 1508248800 Ridango wins ticketing system tender in Lithuania http://www.baltic-course.com/eng/transport/?doc=134186 The Estonian company AS Ridango has won a public procurement tender to supply a novel ticketing system to the public transport system of the city of Klaipeda, Lithuania, informs LETA/BNS. Tue, 17 Oct 2017 16:00:00 +0300 1508245200 Fujitsu to operate IT support unit with 50 workers in Parnu http://www.baltic-course.com/eng/good_for_business/?doc=134185 The technology company Fujitsu Estonia AS is about to open a customer support center in the southwestern Estonian city of Parnu that will eventually employ a workforce of 50, reports LETA/BNS. Tue, 17 Oct 2017 15:00:00 +0300 1508241600 Riigikogu discards bill seeking to stop ratification of border treaty with Russia http://www.baltic-course.com/eng/legislation/?doc=134187 The Estonian parliament Riigikogu on Tuesday decided not to support a bill initiated by the Conservative People's Party (EKRE) to stop the ratification of the border treaty signed with Russia, informs LETA/BNS. Tue, 17 Oct 2017 15:00:00 +0300 1508241600 Eesti Pank head: EU budget, finmin won't help countries in trouble http://www.baltic-course.com/eng/analytics/?doc=134183 Eurozone countries should not get their hopes too high on ever-closer fiscal cooperation and a European finance ministry to help out countries in trouble, Ardo Hansson, head of the Bank of Estonia and member of the European Central Bank governing council said in an interview with Politico cited by the Bank of Estonia, informs LETA/BNS. Tue, 17 Oct 2017 14:00:00 +0300 1508238000 Norway's furniture maker Ekornes eyes expansion in Panevezys http://www.baltic-course.com/eng/good_for_business/?doc=134179 Norway's furniture production group Ekornes is considering expansion in Panevezys, northern Lithuania, founding a subsidiary in the Panevezys free economic zone (FEZ), informs LETA/BNS. Tue, 17 Oct 2017 13:00:00 +0300 1508234400 Latvia shows lower than EU average rise in new car registration in 9 months http://www.baltic-course.com/eng/analytics/?doc=134180 In the first nine months of 2017, Latvia recorded the slower rise in new car registration than average in Europe, writes LETA, according to the latest data released today by the European Automobile Manufacturers' Association (ACEA). Tue, 17 Oct 2017 13:00:00 +0300 1508234400 Latvian, Norwegian scientific institutions implement joint projects for EUR 4.17 mln http://www.baltic-course.com/eng/Technology/?doc=134181 In two years Latvian and Norwegian scientific institutions have implemented joint projects for EUR 4.17 million, the Latvian State Education Development Agency (VIAA) reported LETA. Tue, 17 Oct 2017 13:00:00 +0300 1508234400 30.1% Lithuania's population at poverty line in 2016, the highest in Baltics http://www.baltic-course.com/eng/analytics/?doc=134170 Some 30.1% of Lithuania's residents were at the poverty line last year, which is one of the bigger indicators across Europe, shows the latest information from Eurostat. The percentage was up 1.8%age points since 2008, informs LETA/BNS. Tue, 17 Oct 2017 12:00:00 +0300 1508230800 Riepu Bloki appeals EUR 12.9 mln fine imposed by State Environmental Service http://www.baltic-course.com/eng/markets_and_companies/?doc=134171 Riepu Bloki company has appealed a EUR 12.9 million fine imposed by the State Environmental Service for storing in Riga huge amounts of used tires well above the permitted limit, LETA was told at the Liepaja courthouse of Administrative Regional Court. Tue, 17 Oct 2017 12:00:00 +0300 1508230800 LDz: Europe's railroads close to overloaded make it easier for Latvia to attract Chinese freights http://www.baltic-course.com/eng/good_for_business/?doc=134172 The amount of container freight flows between Europe and Asia has been doubling annually, while the capacity of the infrastructure has remained almost unchanged, therefore, if the railroad industry successfully cooperates with ports and maritime transport companies, Latvia may become a preferred choice for clients, Latvijas Dzelzcels railroad company's CEO Edvins Berzins told LETA. Tue, 17 Oct 2017 12:00:00 +0300 1508230800 eCom21 conference as the world in miniature - work and holiday http://www.baltic-course.com/eng/forums/?doc=134189 On the eve of Independence Day, on 16-17 November, the VI International forum on e-commerce issues - eCom21 will be held in Riga. Traditionally, this business conference, which gathers together several hundred professionals from all over the world, is held during the days when this Baltic country celebrates its main public holiday in a bright and festive way. As always, surprises are being prepared for guests of eCom21 - a special ecom programme, beyond the premises of the conference hall, informed BC Rietumu bank’s press service. Tue, 17 Oct 2017 12:00:00 +0300 1508230800 Unemployment insurance for board members in Estonia would cost EUR 10 mln a year http://www.baltic-course.com/eng/legislation/?doc=134167 The social affairs committee of the parliament in Estonia was set on October 16th to discuss the preparation for the first reading of a bill changing the conditions for the registration of the manager of a business as unemployed, estimated to cost the Estonian state approximately 10 million euros per year, informs LETA/BNS. Tue, 17 Oct 2017 11:00:00 +0300 1508227200 Prisma in Estonia to sell Tesco private label products http://www.baltic-course.com/eng/good_for_business/?doc=134168 Retailer Prisma will on October 18th start selling private label products of the British retailer Tesco at its stores in Estonia, reports LETA/BNS. Tue, 17 Oct 2017 11:00:00 +0300 1508227200 Dzintars cosmetics company expects smaller loss in 2017 http://www.baltic-course.com/eng/markets_and_companies/?doc=134169 Latvia’s Dzintars cosmetics company plans that this year’s loss will be lower than last year, the company’s board chairman Ilja Gercikovs told LETA. Tue, 17 Oct 2017 11:00:00 +0300 1508227200 Fortum tops list of recipients of renewable energy subsidy in September in Estonia http://www.baltic-course.com/eng/energy/?doc=134166 Companies of Fortum Eesti, a holding of the Finnish Fortum Power and Heat OY energy group, were the biggest recipients of renewable energy support and high-efficiency cogeneration support in Estonia in September, receiving altogether 1.5 million euros, writes LETA/BNS. Tue, 17 Oct 2017 10:30:00 +0300 1508225400 Lithuania's National Agreement hints of higher salaries in exchange for lower labor taxes http://www.baltic-course.com/eng/analytics/?doc=134163 Lithuania's government, business representative and trade unions on October 16th signed an agreement, declaring pledges to raise wages, cut taxes on labor and encourage collective contracts, informs LETA/BNS. Tue, 17 Oct 2017 10:00:00 +0300 1508223600 Riga municipal housing management company gets board chairman http://www.baltic-course.com/eng/real_estate/?doc=134164 Aivars Gontarevs has been appointed the board chairman of Rigas Namu Parvaldnieks municipal housing manager, while Ardis Pavilsons has been appointed a board member, LETA learned from the Riga City Council. Tue, 17 Oct 2017 10:00:00 +0300 1508223600 All Baltic states report export growth in 8 months http://www.baltic-course.com/eng/good_for_business/?doc=134165 Exports increased across the three Baltic states in the first eight months of 2017 from the same period of 2016, Eurostat said on Monday, cites LETA/BNS. Tue, 17 Oct 2017 10:00:00 +0300 1508223600 AL-KO Vehicle Technology to open in Kaunas http://www.baltic-course.com/eng/good_for_business/?doc=134161 AL-KO Vehicle Technology, German manufacturer of trailer and automotive chassis components, will shortly establish its new center for development of automotive and trailer chassis components in Lithuania's second-largest city Kaunas, reports LETA/BNS. Tue, 17 Oct 2017 09:00:00 +0300 1508220000 Estonian PM anticipates close e-service cooperation with Sweden http://www.baltic-course.com/eng/Technology/?doc=134162 Estonian Prime Minister Juri Ratas at a meeting with Swedish Minister for Enterprise and Innovation Mikael Damberg on October 16th said that Estonia and Sweden could increase cooperation in e-services already in the near future, reports LETA/BNS. Tue, 17 Oct 2017 09:00:00 +0300 1508220000 Latvian scientific community discusses sustainable economy http://www.baltic-course.com/eng/analytics/?doc=134141 The issues of sustainable development are at the forefront of modern economic theories and practice. Hence, the importance of the conference orginised by the Latvian Academy of Sciences in cooperation with the “Latvians in the World Society”, which touched upon numerous sustainability issues pertinent to the Latvian progressive development. Mon, 16 Oct 2017 18:00:00 +0300 1508166000 Energy independence: is Lithuania getting away with state aid? http://www.baltic-course.com/eng/energy/?doc=134143 The EU says Lithuania can levy funds from gas consumers to finance its own energy companies. Achema, Lithuania’s largest consumer, disagrees. The European Commission and the European Court of Justice are currently considering state aid complaints against Lithuania. The outcome could have repercussions for every gas consumer in the country and massive ramifications for one company in particular. Mon, 16 Oct 2017 17:00:00 +0300 1508162400 564,000 cruise passengers visit Estonia in past season http://www.baltic-course.com/eng/good_for_business/?doc=134147 A total of 311 cruise ships called in the Estonian capital Tallinn during the 2017 cruise season, bringing more than 564,000 passengers here, reports LETA/BNS. Mon, 16 Oct 2017 17:00:00 +0300 1508162400 Nights spent by tourists at Latvia's hotels up 12.2% in January-August http://www.baltic-course.com/eng/good_for_business/?doc=134140 The number of nights spent by guests at Latvia’s hotels and other tourist facilities in the first eight months of this year grew by 12.2% against the same period last year to 3.524 million, writes LETA, according to the data released by the Central Statistics Bureau (CSB). Mon, 16 Oct 2017 15:00:00 +0300 1508155200 More tobacco products bought by Estonians in Latvia http://www.baltic-course.com/eng/markets_and_companies/?doc=134138 Although the market for counterfeit and contraband cigarettes in Estonia has contracted to 13.3% of total consumption, cross-border flows from Latvia are increasing, a survey by KPMG indicates, cites LETA/BNS. Mon, 16 Oct 2017 14:00:00 +0300 1508151600 Lithuanian MFA: Kremlin's critic urges EU ministers support Russia's civil society http://www.baltic-course.com/eng/baltic_states_cis/?doc=134139 Vladimir Kara-Murza, a prominent critic of the Kremlin, on Monday urged European Union (EU) ministers to maintain contacts with Russia's civil society and intellectuals, says Lithuania's Foreign Minister Linas Linkevicius who organized the meeting, informs LETA/BNS. Mon, 16 Oct 2017 13:30:00 +0300 1508149800 Rokiskio Suris signs contract on Fonterra investments http://www.baltic-course.com/eng/good_for_business/?doc=134136 Rokiskio Suris (Rokiskis Cheese), one of Lithuania's biggest dairy companies, has completed talks with New Zealand's Fonterra on more than 7 million euros in investment through purchase of about a tenth of the company's shares, informs LETA/BNS. Mon, 16 Oct 2017 13:00:00 +0300 1508148000 Bank of Latvia buys EUR 6.214 bln worth of securities under ECB program http://www.baltic-course.com/eng/finances/?doc=134119 The Bank of Latvia so far has purchased EUR 6.214 billion worth of Latvian and supranational securities under the European Central Bank's (ECB) Public Sector Purchase Program (PSPP), writes LETA, according to the information published by the bank. Mon, 16 Oct 2017 12:00:00 +0300 1508144400 EVR Cargo negotiating with Italy's port of Trieste http://www.baltic-course.com/eng/good_for_business/?doc=134123 The Estonian state-owned rail cargo operator EVR Cargo is in negotiations with the operator of the port of Trieste along the Adriatic Sea in Italy and the company is to also develop a North-South route to Odessa along the Black Sea, informs LETA/BNS. Mon, 16 Oct 2017 12:00:00 +0300 1508144400 Government grants Lithuanian Railways EUR 36 mln for passenger transport losses http://www.baltic-course.com/eng/transport/?doc=134124 Lietuvos Gelezinkeliai (Lithuanian Railways, LG), which were recently slammed a fine of nearly 28 million euros from the European Commission (EC) for competition offense, should next year receive close to 36 million euros in compensation for passenger transport losses, informs LETA/BNS. Mon, 16 Oct 2017 12:00:00 +0300 1508144400 Commission’s report “Labour Market and Wage Developments in EU” http://www.baltic-course.com/eng/analytics/?doc=134126 Commission’s report-2017 confirms recent years’ positive labour market trends in most EU states. Employment level has surpassed pre-crisis levels with more than 235 million people at work. Unemployment now stands at 7.6%, which is approaching levels prior to the recession. Mon, 16 Oct 2017 12:00:00 +0300 1508144400 Lithuania's StrongPoint works with Swedish, Russian food vending machine firms http://www.baltic-course.com/eng/good_for_business/?doc=134125 StrongPoint, a Lithuanian IT solutions company, has signed a contract with a Russian company selling groceries online, which will introduce 25 grocery pickup points in Moscow by the end-2017, Verslo Zinios business daily said. Mon, 16 Oct 2017 11:30:00 +0300 1508142600 US giant DowDuPont behind Lithuanian Nobel nominee's company CasZyme http://www.baltic-course.com/eng/good_for_business/?doc=134118 Lithuanian scientist Virginijus Siksnys, author of a DNA editing technology, is establishing a company CasZyme with his fellows, with one of the world's biggest chemical industry giants DowDuPont being one of the investors and partners in the startup, Verslo Zinios said, cites LETA/BNS. Mon, 16 Oct 2017 11:00:00 +0300 1508140800 Elko Grupa the largest company in Latvian IT and computer technology industry in 2016 http://www.baltic-course.com/eng/analytics/?doc=134121 Elko Group, a distributor of IT products and solutions, was the largest IT and computer technology company in Latvia last year when the company turned over EUR 381.963 million, according to the Latvian Business Annual Report collated by Firmas.v and information agency LETA. Mon, 16 Oct 2017 11:00:00 +0300 1508140800