Latvia’s Riga city council plans to sell the municipal housing company, Rigas Namu Parvaldnieks (RNP), LETA reports. Under the proposal, RNP would be reorganised and converted into a joint-stock company before the sale through a public securities offering. The plan is first to sell 51% of RNP’s shares. Individual investors would be a able to…
Russian businessman Vladimir Antonov, former owner of Lithuania’s collapsed Snoras bank, has been detained in France under a European Arrest Warrant issued by the Lithuanian Prosecutor General’s Office, BNS reports. Antonov was detained in Baden on 9 December 2025. Prosecutor General Nida Grunskiene said that work was underway to have him extradited to Lithuania. She…
The chairman of the supervisory council of Latvia’s state-owned railway operator, Latvijas Dzelzcels (LDz), Andris Liepins, and council member Reinis Ceplis have resigned, LETA reports. They highlighted the strategic transformation at LDz during their tenure. Liepins and Ceplis were appointed to LDz’s council in 2019. They will serve in their positions until the end of…
Latvia’s Road Transport Administration (ATD) has signed an agreement with Czechia’s Skoda Group for the purchase of nine battery-powered electric trains, LSM reports. Skoda was the only eligible bidder for the contract, LETA reported. Under the deal, worth EUR 89.409mn, Skoda is due to deliver the BEMU trains in 2029. ATD has an option to…
Most large and medium-sized companies in the Baltic States plan to invest in business development in 2026, according to a Kantar survey for OP Corporate Bank, LSM reports. The survey showed that 87% of enterprises in Lithuania, 85% in Latvia, and 74% in Estonia plan to invest in development. Specifically, Lithuanian companies plan to increase…
Latvia’s SmartLynx Airlines has filed for insolvency, LETA reports. CEO Edvinas Demenius explained that SmartLynx had intended to implement a restructuring plan by 15 December 2025. However, “false and misleading information from various stakeholders” had led to the loss of aircraft and customer contracts, he said. SmartLynx has liabilities totalling around EUR 238mn, of which EUR…
Belarus is holding altogether 185 Lithuanian trucks and trailers, Dovile Kraulaidiene, deputy director general of the Lithuanian Customs Department (LMD), announced, BNS reports. Earlier, the Lithuanian National Road Carriers Association (LINAVA) reported to authorities that 488 Lithuanian trucks were being detained in Belarus. However, publicly the association has provided much higher figures, claiming that as…
Baltic financial group Luminor has appointed Karl von Rohr as the new chairman of the supervisory councils of Luminor Holding and Luminor Bank as of 1 January 2026, LSM reports. He replaces Nils Melngailis, who served in the positions since the bank was established in 2017. Prior to his appointment, von Rohr was management board member…
The profit share of non-financial corporations in the Baltic States was highest in Lithuania in 2024, according to Eurostat data, LSM reports. The profit share of non-financial corporations in Lithuania stood at 41.6%, followed by Estonia with 40.0% and Latvia with 35.6%. The EU average was 40.1%. The business profit share is defined as gross…