The total profit of banks operating in Estonia in the first half of 2023 was almost as high as in the whole of 2022, ERR reports. Swedbank’s net profit amounted to EUR 214mn in six months, which was EUR 148mn from a year earlier. In 2022, Swedbank’s annual net profit stood at EUR 224mn. SEB…
The Baltic States will decouple from the BRELL power grid linked to Russia and Belarus in the beginning of 2025, Estonian Prime Minister Kaja Kallas announced, ERR reports. Earlier, Lithuania urged the Baltic States to synchronise their power grids with the continental European system ahead of schedule in 2024. Kallas noted that such a rapid…
Latvia’s Riga City Council has obliged owners of outdoor sales and catering establishments to ensure that their sound equipment and musical instruments do not disturb local residents, LSM reports. Under the new rules, municipal police can impose limits on loud music in outdoor cafés, bars, and similar establishments. Violations can lead to fines of up…
The Baltic States will not be able to decouple their power grids from the Russian-controlled BRELL system ahead of schedule in 2024, Rokas Masiulis, CEO of Lithuania’s electricity transmission system operator, Litgrid, stated, BNS reports. He said that the synchronisation process still depended on Estonia’s transmission system operator, Elering, which has said that Estonia will…
A fire broke out at a production facility of the Latvian grain processor, Dobeles Dzirnavnieks, in Dobele in the morning of 16 July 2023, LETA reports. The fire engulfed several floors of the seven-storey building on the city’s Spodribas Street. Dobeles Dzirnavnieks is part of Estonia’s Tartu Mill group. The company produces flour, pasta, cereals,…
Trains from Latvia’s capital, Riga, to the port city of Liepaja will begin running daily as of 31 July 2023, the Public Transport Council announced, LSM reports. The train will leave from Liepaja shortly before 5am and depart back to Liepaja at around 6:30pm. On Sundays, there will be two trains between the two cities….
Planned new wind energy projects in Latvia would be sufficient to generate electricity for more than half of the country, LSM reports. At the moment, wind energy accounts for just under 3% of Latvia’s electricity production, according to the Ministry of Climate and Energy. Lasma Livzeniece, executive director of the Latvian Wind Energy Association (LVEA),…
Vegetable production in Estonia is declining due to a shortage of farm workers, ERR reports. As a result, imports and consumer prices of vegetables are rising. In 2019, Estonian farmers grew vegetables on a total area of 2,035 hectares, whereas in 2023, the area is around 50% less. The farm labour shortage began during the…
The Lithuanian tour operator, Novaturas Group, generated revenue of EUR 100mn in the first half of 2023, which was up 10% from the same period of 2022, GlobeNewswire reported. The company served a total of 125,000 customers, which was down from 128,000 a year earlier. Vitalij Rakovski, CEO of Novaturas Group, said that the company…