The financial regulatory authorities of the eight Nordic and Baltic countries have conducted a financial crisis simulation exercise under the Nordic Baltic Stability Group framework, ERR reports. The exercise was aimed at testing preparedness for a potential crisis situation, including in communication, information sharing, and collaboration between the authorities. Around 450 participants representing Nordic, Baltic,…
The German IT service company, DATAGROUP, has established a Lithuanian subsidiary, DATAGROUP Operations Lithuania, BNS reports. The company plans to hire up to 30 people to its new office in Kaunas by the end of 2024 and later increase the headcount to 50. The office will focus on AI, cyber security, and IT architecture and…
Polish oil company Orlen has signed a five-year agreement with the Lithuanian oil and gas terminal operator, KN Energies, for exclusive use of a LNG reloading station in Klaipeda, Reuters reports. Under the agreement, the LNG will be delivered to the station on small ships and then transported by truck to clients in the Baltic…
The world’s largest bicycle manufacturer, Dutch-based Pon.Bike, has opened a new production facility in Kedainiai in central Lithuania, BNS reports. The company invested EUR 57mn in the factory, which will produce up to 450,000 bicycles per year. The facility, located in the Kedainiai Free Economic Zone (KLEZ), will employ around 600 people. Under an agreement…
Lithuania’s state-owned airport operator, Lietuvos Oro Uostai (LTOU), has completed the construction of a new departure terminal at Vilnius International Airport (VIA), BNS reports. The airport will open the new 14,000 m2 terminal for passengers in February 2025. The airport will then be able to handle two times more passengers than at present. The general…
Lithuanian supermarket operator Maxima Group generated consolidated revenue totalling EUR 3bn in the first half of 2024, which was up 4.7% from the same period of 2023, GlobeNewswire reported. Like-for-like retail sales rose by 2.2% over a year, including by 4.7% in the Baltic States. Online sales dropped by EUR 8mn. The group’s six-month EBITDA…
Lithuania’s Vilnius Regional Court has found Lithuanian lawyer Mantas Danielius guilty of spying for Belarus, ELTA reports. The court sentenced him to nine years in prison. The ruling is subject to appeal. The investigation found that Danielius had spied on the exiled Belarusian opposition in Lithuania and passed on the information to a journalist at…
US engineering company KBR has signed a cooperation agreement with Latvia’s GI Terminal on a project to build a renewable aviation fuel plant at Latvia’s Port of Liepaja, LSM reports. Under the memorandum of understanding, KBR will provide engineering solutions and equipment for GI Terminal’s planned sustainable aviation fuel (SAF) plant and CO2 liquefaction terminal…
The Lithuanian fish processing company, Port Lite, has invested EUR 80mn in a new salmon processing plant in the Latvian port city of Liepaja, Baltic News Network reports. Sigitas Ambrazevicius, founder and owner of Port Lite, said that the 15,000 m2 plant would process around 25,000 tonnes of salmon per year. The company will sell…
