Despite diplomatic tensions, buses between Lithuania’s capital, Vilnius, and the Belarusian capital, Minsk, are running at full capacity, LRT reports. Buses remain the only form of public transport between Lithuania and Belarus, as train services have remained suspended since the start of the coronavirus pandemic and Lithuania’s airspace is closed to Belarusian aircraft. Moreover, Lithuania…
The Nordic Investment Bank (NIB) has signed an agreement with Latvian capital Riga’s heating supplier, Rigas Siltums, on a ten-year loan of EUR 20mn, LSM reports. Rigas Siltums will use the funds to finance its 2022-2023 investment programme to improve the district heating infrastructure in Riga. The company will invest a total of EUR 29mn…
The three biggest risks to Lithuania’s financial system are the consequences of the war in Ukraine, the state of the economy, and cyber attacks, according to the Bank of Lithuania’s survey, ELTA reports. The risk of cyber attacks has increased significantly, the central bank noted. Dovydas Poderys, senior economist at the Bank of Lithuania, said…
The Estonian government has transferred 12 state-owned enterprises under the management of the new Ministry of Environment, ERR reports. The companies were previously managed by the Ministry of Economic Affairs and Communications. The Ministry of Environment will manage Eesti Raudtee, Elering, Elron, Nordic Aviation Group (Nordica), Operail, Port of Tallinn, Rail Baltic Estonia, Saarte Liinid,…
The advertising revenues generated by multinational digital corporations like Facebook (Meta) and Google (Alphabet) in Estonia are unknown and untaxed, ERR reports. Karin Ulvik, media specialist at the Estonian Tax and Customs Board (EMTA), said that tax authorities had “no aggregated information on such a narrowly defined group of companies.” Collecting such data would require…
Estonian ticket sales platform Piletilevi Group will acquire majority ownership of Romania’s oldest ticket sales company, Departamentul Logistic Event (Bilete.ro), BNS reports. Under the deal, Piletilevi Group will acquire 80.2% of shares in Bilete.ro, with current shareholders retaining 19.8% ownership. Andreea Pop will continue as CEO of Bilete.ro, which employs 40 people. The company, which…
Latvia’s Ministry of Defence has dismissed a third official implicated in a scandalous food procurement contract for the Latvian National Armed Forces (NBS), LETA reports. The official in question worked at the NBS. Earlier, the ministry dismissed Eriks Ezerins, head of the procurement commission, and Imants Freibergs, head of procurement and contracts at the NBS…
The US Federal Aviation Administration (FAA) has assigned Category 1 country designation to Latvia following an audit of the Latvian Civil Aviation Agency (CAA), LSM reports. FAA ascertained that Latvia’s civil aviation regulation and CAA’s supervisory activities complied with the standards of the International Civil Aviation Organization (ICAO). The FAA decision allows Latvian airlines to…
The number of new passenger cars and commercial vehicles sold in Estonia totalled 14,076 in the first half of 2023, which was 6.5% more than in the same period of 2022, according to data from the Estonian Transport Administration (Transpordiamet), Postimees reports. The number of passenger cars sold amounted to 12,236 (up 10%) and commercial…