Markets and Companies

International Internet Magazine. Baltic States news & analytics Friday, 26.08.2016, 07:55

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Latvijas Gaze may not bar Latvenergo from buying natural gas from Lithuania

Latvijas Gaze may not bar Latvenergo from buying natural gas from Lithuania

25.08.2016

The Public Utilities Commission on Thursday decided that joint-stock natural gas company Latvijas Gaze could not temporarily bar the power utility Latvenergo from accessing natural gas transmission and distribution system, reports LETA.

Keyword tags: Energy, Energy Market, Gas, Latvia, Lithuania, Markets and Companies



Mikrotikls co-owner Riekstins the top earner in Latvia in 2015

Mikrotikls co-owner Riekstins the top earner in Latvia in 2015

25.08.2016

Arnis Riekstins, a co-owner of the Mikrotikls company, earned EUR 30.15 mln last year becoming the top earner in Latvia in 2015, according to a list of Latvia's biggest earners, losers, and dividend recipients last year, compiled by Lursoft, business magazine Kapitals, and journalists Lato Lapsa and Kristine Jancevska.

The number of people staying at Latvia`s hotels has grown by 6.1 % over the year

The number of people staying at Latvia`s hotels has grown by 6.1 % over the year

25.08.2016

According to the latest data of the Central Statistical Bureau (CSB), there were 612.9 thsd visitors who stayed in Latvian accommodation establishments during the 2nd quarter of 2016, which was 6.1 % more than during the corresponding period of the previous year. As compared to the 2nd quarter of 2015, the number of nights spent by visitors has increased by 6.6 %. On average, visitors stayed 1.9 nights in accommodation establishments.


Aivar Pilv Law Office and partners establish new Baltic legal alliance LEADELL

Aivar Pilv Law Office and partners establish new Baltic legal alliance LEADELL

25.08.2016

Estonian law firm Aivar Pilv Law Office together with Latvian law firm Fogels, Vītols & Paipa and Lithuanian law firm Balčiūnas & Grajauskas founded a new pan-Baltic alliance LEADELL that brings together nearly 50 legal advisors, informe BC LEADELL representative.

Q1 turnover of LVM forest manager profit drops

Q1 turnover of LVM forest manager profit drops

25.08.2016

The state-owned Latvijas Valsts Mezi (LVM) company responsible for management of state-owned forests closed the first quarter of 2016 with a turnover of EUR 61.8 mln compared to EUR 61.3 mln in the first quarter of 2015 but the company’s profit decreased slightly to EUR 17.6 mln from EUR 18.9 mln in the first quarter of 2015, write LETA.


25.08.2016

Nordea and DNB banks to combine Baltic operations

Nordea, the biggest financial group in the Nordic and the Baltic countries, and Norway's DNB bank have agreed to combine their operations in Lithuania, Latvia and Estonia, the banks said. The agreement is yet to be endorsed by institutions supervising banking operations and competition, with completion of the process expected in the second quarter of 2017, reports LETA.

24.08.2016

China allows dairy imports from Lithuania

China has approved a list of 16 Lithuanian dairy processing companies allowed to export their products to the huge market, says Lithuania's Ambassador to China Ina Marciulionyte, reports LETA/BNS.

24.08.2016

Estonian postal co to buy 30 ATVs

The Estonian state-owned postal and logistics services company AS Eesti Post operating under the Omniva brand is planning to buy 30 all-terrain vehicles (ATVs) for delivering post, reports LETA/BNS.

24.08.2016

African swine fever reaches Saaremaa Island

A lab test has confirmed the presence of African swine fever (ASF) in pigs on a farm with 2,700 pigs on Estonia's Saaremaa Island, reports LETA/BNS.

24.08.2016

China's Alibaba Group wants to use Latvia as transit point for its shipments

The Chinese e-commerce company Alibaba Group is interested in shipping its goods to Northern Europe using Latvia as a transit point, Latvian Investment and Development Agency representatives said at a meeting of Latvian Ports, Transit and Logistics Council today, reports LETA.

24.08.2016

Russians back in Lithuanian sanatoriums

Sanatoriums in Lithuania are again hosting growing numbers of guests from Russia, with more clients coming from other important foreign markets, therefore, some of the sanatoriums expect a two-digit increase in 2016 revenue, LETA/BNS cites Verslos Zinios daily information.

24.08.2016

TS Laevad in talks to find 4 substitute ferries

TS Laevad, the Port of Tallinn subsidiary that is to start operating ferries between mainland Estonia and large western islands as of October, is preparing for the possibility of the four new ferries arriving late and is therefore in talks with four companies to rent substitute vessels, informs LETA/BNS according to the news portal of the public broadcaster ERR reports.

24.08.2016

Fuel excise duty receipts are growing in Estonia

Although fuel company Olerex said on Tuesday that due to the fuel excise duty rise the Estonian state will lose up to 35 million euros in taxes, according to the Ministry of Finance fuel excise duty receipts rose nearly 15% on year in the first seven months of the year and are to total 481 million euros at the end of the year, reports LETA/BNS.

23.08.2016

Lithuanian software company to launch the smart terminal managing the whole flight training system

Business and training management software company Momook has announced that its highly-advanced full-flight simulator terminal is now available for sale and delivery. The software company, in cooperation with flight simulator maintenance solutions provider SimHelp, has launched an innovative solution developed specifically for aviation training center with at least one simulator, making the flight training process and simulator’s maintenance fast, simple and cost-effective, BC informs MOMook representative.

23.08.2016

Latvian government approves route of Latvian-Estonian high-voltage power line

The government today approved the route of the high-voltage power line from the Estonian town of Sindi to Riga 2nd thermal power station, reports LETA.

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