Nearly half of small and medium-sized enterprises (SMEs) in Estonia regard the country’s economic climate as being negative, according to a Turu-Uuringute poll for loan comparison platform Sortter, BNS reports. The survey showed that 46% of local entrepreneurs saw the economic climate as negative in August 2024. The main perceived challenges included operating costs (57%)…
Lithuania’s International Transport and Logistics Alliance (TTLA) has joined the International Road Transport Union (IRU). TTLA’s secretary general, Povilas Drizas, said that membership of IRU allowed the organisation to better represent the interests of Lithuanian road freight operators. TTLA represents 25 of Lithuania’s largest transport and logistics companies, which handle around 80% of all road…
The municipal public transport company of the Estonian capital, Tallinn, Tallinna Linnatransport (TLT), will temporarily replace all trolleybuses due to the poor condition of the fleet, ERR reports. TLT will replace the trolleybuses on all four routes with buses as of 1 November 2024. The company plans to procure new trolleybuses and electric buses. The…
The financial regulatory authorities of the eight Nordic and Baltic countries have conducted a financial crisis simulation exercise under the Nordic Baltic Stability Group framework, ERR reports. The exercise was aimed at testing preparedness for a potential crisis situation, including in communication, information sharing, and collaboration between the authorities. Around 450 participants representing Nordic, Baltic,…
The German IT service company, DATAGROUP, has established a Lithuanian subsidiary, DATAGROUP Operations Lithuania, BNS reports. The company plans to hire up to 30 people to its new office in Kaunas by the end of 2024 and later increase the headcount to 50. The office will focus on AI, cyber security, and IT architecture and…
Polish oil company Orlen has signed a five-year agreement with the Lithuanian oil and gas terminal operator, KN Energies, for exclusive use of a LNG reloading station in Klaipeda, Reuters reports. Under the agreement, the LNG will be delivered to the station on small ships and then transported by truck to clients in the Baltic…
Latvia’s State Revenue Service (VID) will contact 260 construction companies that are paying atypically low wages to their workers, LETA reports. Speaking in an interview with LTV, VID director general Baiba Smite-Roke noted that the companies were paying wages that were significantly lower than the average. The aim was to ascertain whether the companies were…
The municipal government of the Latvian capital, Riga, has terminated procurement for the maintenance of the city’s bridges in 2024-2029, LSM reports. After announcing a new tender for the contract, the cheapest offer was 43% more expensive than in the initial tender announced in spring 2024, when both bidders failed to meet the requirements. The…
The world’s largest bicycle manufacturer, Dutch-based Pon.Bike, has opened a new production facility in Kedainiai in central Lithuania, BNS reports. The company invested EUR 57mn in the factory, which will produce up to 450,000 bicycles per year. The facility, located in the Kedainiai Free Economic Zone (KLEZ), will employ around 600 people. Under an agreement…