Estonia’s Defence Ministry sees no need to halt the development of wind farms off the Estonian coast, Defence Minister Hanno Pevkur announced, ERR reports. He insisted that air and maritime surveillance issues related to offshore wind farm projects were manageable. Pevkur assured that concerns expressed by the Estonian Defence Forces (EDF) over the negative impact…
Latvia’s national air carrier, airBaltic, has drawn up a plan to resume flights to Ukraine as soon as it is safe to do so, Ukrainska Pravda reports. Speaking in an interview with Bloomberg, airBaltic CEO Martin Gauss said that the company planned to divert aircraft from other routes and implement overnight stops in Ukraine. He…
Latvian monetary financial institutions (MFIs), mainly banks, generated total profits of EUR 461.7mn in the first ten months of 2024, which was down 22.6% from EUR 596.2mn in the same period of 2023, according to data from the Bank of Latvia, LETA reports. The total assets of MFIs amounted to EUR 29.23bn at the end…
The crash of Spanish air carrier Swiftair’s cargo plane in the Lithuanian capital, Vilnius, on 25 November 2024 may have been caused by a technical fault or pilot error, LRT reports. One crew member perished in the incident. Surviving crew members had no indication of foul play, and investigators have found no evidence of terrorism….
Several well-known politicians in Latvia were employed as fake consultants by Riga’s municipal public transport company, Rigas Satiksme, according to LTV’s De Facto programme, LETA reports. A court in Riga has accepted Rigas Satiksme’s plea deal, which identifies 16 fictional consultants, including several members of the company’s board and municipal councillors. Some of them represent…
The founder of a Belarusian startup firm is on trial in Latvia for violating EU sanctions, LSM reports. Igor Medved, founder of Nordwoc, is accused of supplying high-tech equipment to the Belarusian military-industrial complex. The prosecutor has asked for Medved to be sentenced to two years in prison, fines, and confiscation of property. The entrepreneur…
Estonian transmission system operator Elering’s frequency reserve tender has attracted interest from both local and international participants, ERR reports. The tender is aimed at providing price certainty in the frequency reserve market as Estonia will withdraw from the Russian electricity system in February 2025. The total capacity to be awarded under the tender will amount…
The Latvian government will invest an additional EUR 47mn in the state-owned railway company, Latvijas Dzelzcels (LDz), LSM reports. The capital will allow the company to pay all its tax debts and some outstanding bills for services. The state has invested EUR 95.6mn in LDz since 2020 to prop up the company’s finances. LDz has…
Latvia approved 30 applications for investor visas and 53 dependent visas under its so-called golden visa programme in the first half of 2024, Investment Migration Insider reports. The biggest number of approved applications were submitted by Chinese (11) and Turkish (7) nationals. The EUR 50,000 business investment option accounted for 22 and real estate investments…