Latvia’s largest commercial bank, Swedbank Latvija, posted a net profit of EUR 274mn in 2023, which was a more than double increase from EUR 132mn in 2022, LSM reports. Net interest income rose by EUR 193mn and net commission income by EUR 5mn over a year. Total expenditure amounted to EUR 138mn, which was up…
Latvian President Edgars Rinkevics backed a unilateral ban on Russian grain imports without waiting for a joint EU decision, LETA reported. Speaking after a meeting with Prime Minister Evika Silina, Rinkevics pointed out that some of the Russian grain was stolen from occupied Ukrainian territory and that Russia was using food as a “hybrid weapon.”…
Estonia’s second-largest commercial bank, SEB Pank, posted a net profit of EUR 231.7mn in 2023, which was a double increase from EUR 115.9mn in 2022, ERR reports. SEB’s operating income amounted to EUR 356mn (EUR 206.9mn) and operating expenses to EUR 78.4mn (EUR 69.1mn). CEO Allan Parik attributed the high profit to the rapid rise…
The representative of the spiritual leader of the Tibetan people, the Dalai Lama, in Northern Europe, Sonam Frasi, and the head of the Tibetan government in exile, Penpa Tsering, visited the Estonian parliament, the Riigikogu, ERR reports. The Tibetan representatives talked at a hearing on the legal status of Tibet. The event was organised by…
Lithuania’s Foreign Ministry has proposed extending current restrictions on Russian and Belarusian citizens for another year until May 2025, BNS reports. Under the proposal, the restrictions on Belarusians would be tightened but not completely to the level imposed on Russian nationals. Belarusian citizens arriving in Lithuania with Schengen visas would undergo extra risk assessments and…
A Russian attack on NATO countries was “practically impossible” in the near future, Lithuania’s defence chief, Valdemaras Rupsys, stated, BNS reports. Speaking in an interview with Ziniu Radijas, Rupsys warned that diverging political statements and military assessments on the Russian threat created “some confusion,” which could scare the public. His assessment was that the possibility…
Members of the supervisory council of Latvia’s state-owned passenger train operator, Pasazieru Vilciens (Vivi), have resigned, LSM reports. The company has come under heavy criticism because of recurring problems with new electric trains delivered by the Czech manufacturer, Skoda Vagonka. Vivi’s council chairman, Sandis Steins, insisted that responsibility for the problems was beyond the council’s…
Building unified Baltic defence infrastructure should be coordinated with Finnish and Polish military experts, Latvian President Edgars Rinkevics stated, LETA reports. Baltic cooperation with Finland and Poland was necessary to create an effective defence mechanism, he said. At the same time, Rinkevics reminded that Latvia was part of NATO’s defence planning. He discussed the issue…
The Estonian government plans to split the state-owned energy group, Eesti Energia, into three separate companies, Finance Minister Mart Võrklaev announced, ERR reports. He said that the plan was to list shares of network operator Elektrilevi and renewable energy producer Enefit Green on the stock exchange. However, Võrklaev said that he was no longer in…