Estonia’s industrial production output declined by 12.7% at constant prices in May 2023, compared to the same period of 2022, according to data from Statistics Estonia, ERR reports. Output fell by 31.5% in electricity production and 13.1% in manufacturing. Meanwhile, output rose by 36.3% in mining and quarrying. Helle Bunder, leading analyst at Statistics Estonia,…
Several growth companies on Estonia’s Tallinn Stock Exchange (Nasdaq Tallinn), including Clevon, ELMO Rent, and Hagen Bikes, saw significant losses in 2022, ERR reports. ELMO Rent’s annual turnover was only half of the forecasted amount, resulting in losses that were more than double the expectations. Despite the declining share prices and growing panic among shareholders,…
The Estonian Association of Media Enterprises (EML) strongly opposes a proposal for the Estonian Consumer Protection and Technical Regulatory Authority (TTJA) to function as an independent media regulator for the entire media market, ERR reports. The Ministry of Culture has shared the draft proposal with over 40 organisations and institutions, seeking their feedback. EML emphasised…
Estonian shipping company Tallink Grupp carried a total of 1,541,081 passengers in the second quarter of 2023, which was down 0.7% from 1,552,174 in the same period of 2022, The Baltic Times reports. The drop was mostly due to the fact that the company has chartered out 7 of its 15 vessels. Tallink transported 85,359…
Lithuania’s state-owned railway company, Lietuvos Gelezinkeliai (LTG), generated revenue of EUR 434.1mn in 2022, which was down 6.7% from EUR 465.1mn in 2021, LRT reports. The company’s annual net profit amounted to EUR 1.2mn, which was down almost 20 times from EUR 23.5mn a year earlier. LTG’s freight volume totalled 31mn tonnes in 2022, which…
The Lithuanian parliament, the Seimas, has begun discussing a proposal from the parliamentary speaker, Viktorija Cmilyte-Nielsen, to seek the Constitutional Court’s opinion on the compatibility of the Istanbul Convention with the country’s Constitution, BNS reports. The corresponding draft resolution passed the first reading in parliament. The final vote on the resolution will take place in…
Lithuanian Foreign Minister Gabrielius Landsbergis said that there was no need to impose identical restrictions on Russians and Belarusians in response to the possible relocation of Russian mercenary group Wagner Group to Belarus, BNS reports. Earlier, President Gitanas Nauseda criticised the decision of the Lithuanian parliament, the Seimas, to override his veto and approve different…
Latvia’s Prime Minister Krisjanis Karins invited every Latvian living abroad to return home, The Baltic Times reports. He stressed their essential role in Latvia and assured them of a warm welcome upon their return. Speaking at the Kipsala International Exhibition Centre to diaspora participants of the Latvian Song and Dance Festival, Karins urged expatriates to…
Latvia’s Competition Council has allowed Estonian investment company Dragad to merge into Estonia-based holding Maral Invest, Baltic News Network reports. Following the merger, Dragad will be removed from the commercial register. Dragad’s Estonian subsidiary, Võru-based Cristella VT, produces various bakery products. Maral Invest owns three major bakeries in the Baltic states: Estonia’s Eesti Pagar, Latvia’s…