The Balticconnector gas pipeline between Estonia and Finland has been closed due to a possible leak, ERR reports. Finnish gas transmission system operator Gasgrid Finland reported that the 77-kilometre undersea pipeline experienced a pressure drop in the early hours of the morning of 8 October 2023. The cause of the problem and the location of…
Lithuanian cyber security company Nord Security has attracted a new USD 100mn (EUR 95mn) investment from US private equity firm Warburg Pincus, LRT reports. Existing investors, Novator Partners and Burda Principal Investments, also contributed in the latest round. Nord Security will expand its NordVPN and Surfshark cyber security products in various markets. Also, the company…
Latvia’s Riga Regional Court has sentenced former Ventspils mayor Aivars Lembergs to four years in prison and confiscation of property, LSM reports. The second-instance court found Lembergs guilty of taking bribes, money laundering, unauthorised participation in a property transaction, and falsification of documents. At the same time, the court acquitted him of charges of concealing…
Prosecutors in Estonia suspect fuel retailer Olerex and its co-owner, Andres Linnas, of submitting false information to the Estonian Environmental Board (Keskkonnaamet), ERR reports, citing Eesti Päevaleht. Prosecutor Gerd Raudsepp said that Linnas had ordered Olerex employees to submit false information on a diesel fuel shipment to Estonia in December 2022. The company claimed that…
The most attractive employer in Estonia in 2023 is LHV Bank, according to branding agency Instar’s poll, Estonian World reports. The survey showed that LHV Bank was the most attractive employer both among university students and experienced workers. Meanwhile, the most attractive employer among vocational school students was entertainment company Apollo Group. The second-most attractive…
The Lithuanian renewable energy company, Green Genius, will invest EUR 179mn in solar farms in Latvia and Lithuania, BNS reports. The company plans to invest EUR 109mn in a 153-hectare solar farm near the Latvian city of Jekabpils and EUR 70mn in a 140-hectare solar power plant in the Lithuanian town of Seduva. Green Genius…
Latvia’s parliament, the Saeima, has approved amendments to partially compensate electricity distribution tariffs in 2023, LSM reports. The government will cover 60% of the fixed part of electricity distribution tariffs from September 2023 until the end of the year, reducing electricity bills by an average of 18%. The support measure will cost around EUR 30.5mn,…
The Lithuanian parliament, the Seimas, has passed a law that bans fur farming as of 2027, BNS reports. Altogether 68 MPs voted for and 25 against the ban, while 15 abstained. The government will provide compensation to fur farmers. The compensation will amount to EUR 3 per animal in 2024, EUR 2 in 2025, and…
A cyber attack disrupted ticket sales for Estonia’s passenger train operator, Elron, on 20 September 2023, ERR reports. Ticket sales were disrupted at POS terminals, on trains, and online. Passengers could pay for tickets by cash on the train, however. The disruption was due to repeated DDoS attacks by supporters of Russia against the provider…