The average monthly wage in the Baltic States rose the fastest in Lithuania in 2023, according to research agency Figure Baltic Advisory’s study, LETA reports. The average wage rose by 8.8% in Lithuania, 8.2% in Latvia, and 7.3% in Estonia over a year. The agency projects that the monthly basic salary will rise by 6.3%…
Lithuanian courier company DHL Lietuva has confirmed that packages that caused a fire at warehouses in Germany were sent from Lithuania, LRT reports. Mindaugas Pivoriunas, managing director of DHL Lietuva, revealed that there had been two such incidents. He said that the company had updated its security protocols and procedures. The two parcels sent from…
The number of non-cash payments executed in Latvia totalled 395 million in the first half of 2024, which was 6% more than in the same period of 2023, according to the Bank of Latvia, LSM reports. The value of all non-cash payments totalled EUR 491.8bn, which was up by 226% over a year. The volume…
Latvia’s national air carrier, airBaltic, may have to delay its planned initial public offering (IPO) until the first half of 2025 amid investor worries about the aviation industry’s profitability, CEO Martin Gauss said, traders.lt reports. The company plans to raise as much as EUR 300mn through the IPO planned for later in 2024, BNN Bloomberg reports….
The new strategic investor in Latvia’s national air carrier, airBaltic, will be “a big positive surprise,” CEO Martin Gauss stated, LSM reports. He said that the identity of the investor would indicate that airBaltic was “recognised internationally as a serious airline.” Also, the investor would welcome the continued shareholding of the Latvian state in the…
Lithuania’s Vilnius Regional Court has postponed sentencing in the criminal case against the former owners of the now liquidated Snoras bank, Vladimir Antonov and Raimondas Baranauskas, until 5 November 2024, BNS reports. The Prosecutor General’s Office asked for both to be sentenced to 10.5 years in prison. The pretrial investigation lasted over 7 years, from…
Estonia’s privately-owned gas supplier, Eesti Gaas, will raise the price of natural gas for household consumers as of 1 October 2024 due to fluctuations in European gas market prices, ERR reports. The new tariff will be EUR 0.59 per m3, including VAT. In August 2024, Eesti Gaas cut the gas price to EUR 0.525 per…
The Latvian government has decided to launch an initial public offering (IPO) of shares in the state-owned national air carrier, airBaltic, by the end of 2024, ERR reports. Transport Minister Kaspars Briskens said that the IPO would proceed concurrently with talks with a new strategic investor, LSM reported. He said that the state only planned…
Lithuania’s central bank, the Bank of Lithuania, has called on Taiwan’s state-owned Bank of Taiwan (BOT) to provide as diverse banking services in Lithuania as possible, BNS reports. Earlier, business news outlet Verslo Zinios reported that BOT had obtained regulatory approval to open a representative office in Lithuania. Lukas Jakubonis, chief business development officer at…