US electric car maker Tesla has opened its first pop-up store in Lithuania, BNS reports. The store is located at the Akropolis shopping mall in Vilnius. The company plans to open a permanent store and service centre in Vilnius in early 2025, Invest Lithuania reported. Tesla’s Dutch arm, Tesla International, established a subsidiary in Lithuania…
Latvia’s banking association, Finance Latvia Association (FNA), opposes a proposed windfall tax on local banks, LETA reports. The association argued that the tax was “disproportionate, short-sighted, and nontransparent.” FNA warned that the tax would have negative long-term consequences, hampering Latvia’s growth, competitiveness, and attractiveness for private investment. The tax would oblige the financial sector to…
One of Estonia’s wealthiest businessmen, Margus Linnamäe, will buy out his business partner, Ivar Vendelin, in the Apollo and MM Group investment companies, ERR reports. Vendelin will focus on real estate investments instead. Following the transaction, Apollo will be fully owned by MM Group. Linnamäe will own 98% and lawyer Aare Kurist the remaining 2%…
Employers in Lithuania are more favourable than before towards Lithuanian emigrants who are returning, according to a survey of 512 companies and organisations by the Lithuanian Public Employment Service (UzT), LRT reports. The survey showed that 42% of companies in Lithuania suffer from a shortage of skilled labour. More than half of Lithuanian employers now…
The social and labour affairs committee of the Latvian parliament, the Saeima, has approved amendments that would introduce stricter rules on workplace language requirements, LSM reports. The amendments aim to strengthen the role of the Latvian language in the labour market. Many employers in Latvia still require that staff speak Russian. The amendments stipulate that…
The Estonian government will allocate almost EUR 200mn for the construction of the Rail Baltica railway and another EUR 75mn for a joint rail depot in Tallinn’s Ülemiste district over the next four years, Infrastructure Minister Vladimir Svet announced, ERR reports. He said that the funds would come from the sale of CO2 quotas. The…
The Lithuanian parliament, the Seimas, has approved in first reading a bill that would oblige foreign workers to serve customers in Lithuanian, BNS reports. Altogether 100 MPs voted in favour, 5 against, and 14 abstained. Under the amendments, the language requirement would only apply to employees who have direct contact with clients. Also, manufacturers, sellers,…
Lithuania’s Foreign Minister, Gabrielius Landsbergis, criticised President Gitanas Nauseda for delaying a decision to end investment protection treaties with Russia and Belarus, BNS reports. Landsbergis noted that the government had proposed revoking the treaties back in May 2024. He insisted that Nauseda would have had enough time to refer the issue to the parliament, the…
The coordinator of the Rail Baltica railway project, RB Rail, will start talks with private investors on financing the project’s implementation in Latvia at the end of 2024, LSM reports. Latvia’s Ministry of Transport presented a report on the project to the public expenditure and audit committee of the Latvian parliament, the Saeima. Latvia has…