Latvia’s retail sector has had no competition, especially in grocery trade, for years, Agriculture Minister Didzis Smits stated, LETA reports. Speaking in an interview with LTV, Smits asserted that retailers could set markups of 300% plus VAT on local produce and still compete, which he said was “abnormal” and “unpatriotic.” He insisted that in such…
Estonia’s Agriculture and Food Board (PTA) has confirmed African swine fever (ASF) at a pig farm in Rõuge municipality in Võrumaa county, ERR reports. The farm has been quarantined, and all of the farm’s 116 pigs will be slaughtered. The previous ASF outbreak at a pig farm in Estonia was recorded in Harjumaa county in…
Latvia’s Corruption Prevention and Combating Bureau (KNAB) has conducted a search at the Sigulda municipal council as part of ongoing criminal proceedings, LETA reports. Municipal spokespersons refused to disclose more details, however. According to sources, one municipal councillor and a local businessman were implicated in the criminal investigation. LTV reported that the investigation was looking…
Estonia’s Finance Ministry has proposed two alternative models for a motor vehicle tax, BNS reports. Under the first model, the tax would be based on the environmental impact of the motor vehicle over its entire life cycle, including manufacture, use, and disposal. Under the second model, the tax would be based on the amount of…
Latvia’s Economy Minister, Ilze Indriksone, visited South Korea together with a delegation of Latvian entrepreneurs, LSM reported. She suggested that Latvia could become a gateway to the European market for South Korea. Also, the two countries could cooperate on technology transfer in strategic industries, biotechnology, and biomedicine, Indriksone said. She noted that South Korea was…
Construction work has begun on a new bridge in the centre of the Estonian seaside city of Pärnu, ERR reports. The 270-metre-long bridge will connect the city’s Lai Street on the southern bank of Pärnu River with Raba Street on the northern bank. The general contractor on the project is INF Infra, which is part…
The number of serious cyber incidents recorded in Estonia stood at almost 75 per week in the beginning of June 2023, which was up from around 40 incidents in the beginning of 2023, Tõnu Tammer, cyber incident manager at the Estonian Information System Authority (RIA), said, ERR reports. RIA’s experts have identified around a dozen…
The Estonian retail bank, Coop Pank, made a net profit of EUR 19.741mn in the first half of 2023, which was up 144% from EUR 8.089mn in the same period of 2022, GlobeNewswire reports. Net interest income amounted to EUR 39.416mn (EUR 22.224mn) and net fee and commission income to EUR 2.211mn (EUR 1.699mn). In…
As many as 90% of cars used in Estonia are either petrol or diesel cars, according to a survey commissioned by insurance firm If Kindlustus, ERR reports. Meanwhile, 10% of cars have other types of engine, mostly hybdrid or gas-powered. Only 1% of respondents drive electric cars. The survey showed that 25% of respondents would…