Lithuanian real estate developer Hanner and Baltic investment company BaltCap have completed a deal under which Hanner will take over the national stadium project in Vilnius, BNS reports. Hanner acquired 98% of shares in Venetus Capital, which owns the project’s concessionaire, Vilniaus Daugiafunkcis Kompleksas (VDK), for one euro. Hanner will pay EUR 2.8mn to BaltCap…
The Estonian government has rejected an offer to buy shares in Latvia’s national air carrier, airBaltic, LSM reports. Estonia’s Infrastructure Minister, Kuldar Leis, explained that the decision was due to the fact that airBaltic’s change of management had not been completed and its financial situation remained problematic. He said that Estonia would not raise airport…
Estonian entrepreneur Urmas Sõõrumaa has withdrawn his candidacy for mayor of Tallinn, ERR reports. Earlier, Sõõrumaa proposed forming a technocratic city government that would follow guidelines from the Estonian Reform Party and the Estonian Centre Party (Keskerakond) until the local elections in October 2025. Reform’s current coalition partner, the Social Democratic Party (SDE), accused Reform…
The coordination committee of the European Commission’s Connecting Europe Facility has approved another EUR 295.5mn of funding for the Baltic railway project, Rail Baltica, LSM reports. Of the total, EUR 47.1mn will go to Estonia, EUR 153.5mn to Latvia, and EUR 94.9mn to Lithuania. The project coordinator, RB Rail, said that the funds would be…
Estonian ride-hailing and courier service company Bolt generated a turnover of EUR 1.99bn in 2024, which was up 17% from EUR 1.7bn in 2023, ERR reported. Ride-hailing services accounted for 82% of total revenue. The company’s operating loss reduced to EUR 87.7mn from EUR 94.3mn in 2023. Bolt’s annual net loss amounted to EUR 102.6mn…
US financial services company Robinhood has opened its first European cryptocurrency trading hub in Lithuania, investment promotion agency Invest Lithuania announced, BNS reports. The new Lithuanian-registered entity, Robinhood Europe, will offer crypto asset custody, administration, transfer, receipt, and transmission services in the European Economic Area. The Bank of Lithuania issued Robinhood an investment firm license…
A court in Estonia has found two Moldovan nationals guilty of an arson attack against a Ukrainian restaurant in Tallinn in January 2025, ERR reports. The two men were arrested in Italy in February 2025. One of the defendants told prosecutors that he was tasked by persons connected to Russian military intelligence (GRU) to firebomb…
Lithuanian prosecutors accuse three foreign nationals of desecrating a monument to anti-Soviet resistance leader Adolfas Ramanauskas in January 2024 under orders from Russian military intelligence (GRU), BNS reports. The three suspects, now under custody, are two dual Estonian-Russian citizens and a Russian citizen residing in Tallinn. The group smeared the monument in the southern Lithuanian…
Latvia finally launched an early warning or cell broadcast system on 1 July 2025 after delays in the procurement process, LETA reports. The system was developed by Meditec for EUR 3.4mn under a contract with the Ministry of Interior’s Information Centre. The system will warn residents and visitors about natural disasters, military threats, or other…