The EU should ban the import and transit of grain from Russia and Belarus, Latvia’s Transport Minister Kaspars Briskens stated, LSM reports. He urged the Baltic States to adopt a joint position on the issue, whereas Latvia’s state-owned rail operator, LDz Cargo, insisted on the need for a common EU stance. When Estonia’s state-owned rail…
Retailers in Estonia expect declining sales in the first half of 2024 amid lower consumer confidence, ERR reports. Many consumers plan to go shopping in neighbouring countries due to the rise in the VAT rate from 20% to 22% as of 1 January 2024, according to a Norstat poll for Citadele bank, BNS reports. The…
Passenger rail service from Estonia’s second-largest city, Tartu, to the Latvian capital, Riga, could begin in the second half of 2025, according to Estonian passenger rail operator Elron, LETA reports. Latvia’s passenger train operator, Pasazieru Vilciens (Vivi), has proposed opening a rail link from Riga to Tartu in spring 2025. Latvia’s Transport Minister, Kaspars Briskens,…
Estonia’s Ministry of Justice is considering granting the Consumer Protection and Technical Regulatory Authority (TTJA) the power to order ISPs to block websites involved in copyright infringement, ERR reports. The ministry argues that existing legal means are insufficient for protecting copyright on digital platforms. The proposed solution involves DNS and IP-based blocking, allowing ISPs to…
Six European gas transmission system operators, including Gasgrid Finland, Estonia’s Elering, Latvia’s Conexus Baltic Grid, Lithuania’s Amber Grid, Poland’s Gaz-System, and Germany’s ONTRAS, have signed a contract with AFRY Management Consulting for a pre-feasibility study on the Nordic-Baltic Hydrogen Corridor, The Baltic Times reports. The project aims to develop cross-border hydrogen transmission infrastructure from Finland…
The Baltic banking group, Luminor, reported a net profit of EUR 178.3mn in the first nine months of 2023, which was up more than double from EUR 84.4mn in the same period of 2022. Net income on interest amounted to EUR 399.1mn (EUR 202.4mn) and net income on fees and commissions to EUR 63.8mn (EUR…
Latvian businesses urge the government to ease the rules on the entry of foreign labour into the country, LSM reports. Speaking at a conference on human capital development in the Latvian parliament, the Saeima, business representatives and market analysts noted that Latvia’s human resources were exhausted. They called for improving labour availability through relaxed rules…
Latvia’s Office of the Prosecutor General has fined the local LPG supplier, Latvijas Propana Gaze (LPG), and its co-owner, Anatolijs Cernihs, for attempted violation of international sanctions, LETA reports. The prosecutor banned LPG from making any transactions with Belarusian companies for one year. The sanctions violation involved iron and steel products. The prosecutor confiscated EUR…
Estonia’s state-owned airline, Nordic Aviation Group (Nordica), generated consolidated revenue of EUR 85.5mn in the first nine months of 2023, which was up 29.8% from the same period of 2022, ERR reports. The rise in revenue was due to fleet expansion and increased number of passengers. However, revenue remained significantly lower than targeted due to…