Estonia’s raw milk production per dairy cow rose by 5% in 2023 from the year before, which was the highest increase in 31 years, according to a report from the European Commission, ERR reports. In terms of milk production per cow, Estonian farms are second only to Denmark in the EU, Tanel-Taavi Bulitko, CEO of…
Lithuanian fashion retail group Apranga Group posted a retail turnover (including VAT) of EUR 161.6mn in the first half of 2024, which was up 9.4% from the same period of 2023, GlobeNewswire reports. Sales in Lithuania amounted to EUR 96.4mn (up 7.5%), in Latvia to EUR 41.0mn (up 17.1%), and in Estonia to EUR 24.1mn (up…
Estonian mobility company Bolt posted revenue of EUR 1.7bn in 2023, which was up 37.4% from EUR 1.2bn in 2022, ERR reports. The company’s operating loss stood at EUR 94.3bn, compared to EUR 262.6mn a year earlier. However, annual net loss rose to EUR 91.9mn from EUR 72.2mn in 2022. Bolt offers taxi, delivery, and…
The ruling coalition in Latvia will review contracts and rising costs of the Rail Baltica railway project before approving any related payments, LETA reports. Following an audit of the project, the Ministry of Transport has turned to the Prosecution Office. The audit estimated that the total cost of the project had risen to EUR 23.8bn….
Estonian investment holding company Infortar has announced a voluntary takeover offer to acquire all remaining shares of shipping and tourism group Tallink Grupp for EUR 0.55 per share, GlobeNewswire reports. Infortar currently owns 46.76% of Tallink’s shares and seeks to acquire the remaining 53.24%. The offer period runs from 2 July 2024 to 5 August…
German Foreign Minister Annalena Baerbock accused Russia of conducting “hybrid attacks” against the Baltic States, Anadolu Agency reports. Speaking at a joint news conference with her visiting Latvian counterpart, Baiba Braze, Baerbock cited Russia’s GPS interference, disinformation campaigns, and removal of border buoys. She noted that Germany and NATO allies had increased their military presence…
Estonia could resist a Russian invasion for “a couple of weeks” before the arrival of NATO support, according to Colonel Mati Tikerpuu, commander of the 2nd Infantry Brigade of the Estonian Land Forces, Business Insider reports. Speaking in an interview with El País, Tikerpuu said that the time would be enough for allied reinforcements to…
The Lithuanian government is set to grant special status to German arms manufacturer Rheinmetall’s planned artillery ammunition factory in Radviliskis, BNS reports. The move would allow the company to begin building the factory without the usual regulatory permits, which will need to be obtained before the project’s completion, however. Construction is expected to start in…
The Latvian government has approved a draft transport energy bill that obliges fuel suppliers to increase the share of renewable energy in their energy portfolio, LETA reports. The bill may lead to a rise in fuel prices, according to a survey of fuel traders. The Ministry of Climate and Energy notes that the transport sector…