The Baltic banking group, Luminor, reported a net profit of EUR 178.3mn in the first nine months of 2023, which was up more than double from EUR 84.4mn in the same period of 2022. Net income on interest amounted to EUR 399.1mn (EUR 202.4mn) and net income on fees and commissions to EUR 63.8mn (EUR…
The opposition Social Democratic Party of Lithuania (LSDP) remained the country’s most popular political party in October 2023, according to a new Vilmorus poll, BNS reports. LSDP topped the poll with 18.0% support, which was down from 18.8% in September 2023. The ruling Homeland Union (TS-LKD) came in second with 9.3% (11.3%), followed by two…
Latvian businesses urge the government to ease the rules on the entry of foreign labour into the country, LSM reports. Speaking at a conference on human capital development in the Latvian parliament, the Saeima, business representatives and market analysts noted that Latvia’s human resources were exhausted. They called for improving labour availability through relaxed rules…
Estonia’s central bank, the Bank of Estonia, foresees growing unemployment in the near future, ERR reports. Orsolya Soosaar, economist at the Bank of Estonia, expects the country’s unemployment rate to reach double digits in 2024. In late September 2023, the central bank forecast that unemployment would rise to 8% in 2024. Soosaar said that the…
Lithuania’s real GDP totalled EUR 53.2bn at current prices in the first nine months of 2023, which was down 0.5% from the same period of 2022, according to the State Data Agency’s first estimate, BNS reports. In the third quarter of 2023, the GDP totalled EUR 19.2bn, which was up 0.1% from a year earlier….
Latvia’s Office of the Prosecutor General has fined the local LPG supplier, Latvijas Propana Gaze (LPG), and its co-owner, Anatolijs Cernihs, for attempted violation of international sanctions, LETA reports. The prosecutor banned LPG from making any transactions with Belarusian companies for one year. The sanctions violation involved iron and steel products. The prosecutor confiscated EUR…
Estonia’s state-owned airline, Nordic Aviation Group (Nordica), generated consolidated revenue of EUR 85.5mn in the first nine months of 2023, which was up 29.8% from the same period of 2022, ERR reports. The rise in revenue was due to fleet expansion and increased number of passengers. However, revenue remained significantly lower than targeted due to…
Russia’s Ministry of Interior has placed Kamile Seraite, member of the city council of the Lithuanian capital, Vilnius, on its wanted list, BNS reports, citing Russian independent media outlet Mediazona. Seraite has campaigned for the removal of Soviet-era monuments and street names in Vilnius. She chairs the city’s Historical Memory Commission, which is in charge…
The Latvian government has approved a draft law on ratifying the Council of Europe’s Istanbul Convention on violence against women and domestic violence, LSM reports. An accompanying declaration states that Latvia will apply the convention in line with the Constitution, “in particular with regard to the protection of human rights, equality between women and men,…