Swedish-owned IKEA Group has received permission from the Estonian Competition Authority (Konkurentsiamet) to acquire 18,000 hectares of forest from Swedish-owned Södra Forest Estonia, ERR reports. Under the deal, IKEA Group’s subsidiary, Ingka Investments, will buy Södra’s forests in Estonia and Latvia for EUR 720mn. Latvia’s Competition Council has received notification of the deal. Södra owns…
Estonia’s state-owned postal services provider, Omniva (Eesti Post), plans to nearly halve the number of post offices nationwide in 2026, ERR reports. The company will cut the number of post offices from current 35 to 19. Omniva will continue to have at least one post office in each of Estonia’s 15 counties. Also, the company…
Latvians are not buying homes due to high prices, insufficient savings and income, and economic uncertainty, according to a Norstat survey carried out for Luminor Bank in September 2025, LSM reports. The survey showed that 27% of Latvian residents cited high real estate prices as the main obstacle to buying a home. Another 24% of…
Estonia, Latvia, Lithuania, and Denmark have signed a cooperation agreement to begin joint medicine purchases, ERR reports. The Estonian Ministry of Social Affairs said that the agreement would allow the countries to order larger quantities of medicines, helping obtain lower prices and more reliable terms of delivery. The ministry noted that new medicines usually arrive…
International rating agency Fitch Ratings has downgraded the long-term issuer default rating of Latvia’s national air carrier, airBaltic, from B-/Negative to CCC+, indicating “significant risks” for creditors, LETA reports. Fitch also downgraded airBaltic’s senior secured long-term notes worth EUR 380mn from B- to CCC+. The agency noted that airBaltic’s level of indebtedness was higher and financial…
Staff at Lithuania’s public broadcaster, Lietuvos Nacionalinis Radijas ir Televizija (LRT), have announced a week-long protest against a proposal to make it easier to remove the company’s director general, LRT reports. During the action, the staff will hold brief moments of silence on air. Also, journalists plan a protest rally outside the Lithuanian parliament, the…
Estonia ranks the highest in the Baltic States on the World Intellectual Property Organization’s (WIPO) Global Innovation Index in 2025, Labs of Latvia reports. Estonia ranks 16th on the global index, followed by Lithuania on 33rd place and Latvia on 41st place. The Global Innovation Index ranks the world’s 139 most innovative economies based on…
A rail link to the Latvian capital, Riga, is planned to be built in the second phase of the Rail Baltica railway project, Marko Kivila, CEO of the Baltic joint venture, RB Rail, told LETA. He noted that the Baltic States had not agreed on a timetable for the second phase yet. There would be…
All foreign nationals interacting directly with customers in Lithuania will be required to be able to communicate in Lithuanian as of 1 January 2026, LRT reports. The rule applies to both foreign employees and their employers. The Lithuanian parliament, the Seimas, approved the new regulation in October 2024. However, the exact language proficiency requirements and…