The legal minimum wage in the Baltic States has risen the most in Lithuania over the past ten years, according to Eurostat data, LSM reports. Lithuania’s minimum wage stood at EUR 840 in July 2023, and has risen by an average of 11.2% per year compared to July 2013. In Estonia, the minimum wage has…
Estonia’s Ministry of Interior will propose banning the use of non-personalised prepaid SIM cards, ERR reports. Under the proposal, anyone would still be able to buy a prepaid SIM card, but would have to provide personal details to activate the card. Veiko Kommusaar, undersecretary for internal security at the Ministry of Interior, noted that Estonia…
Estonia’s Swedbank will relocate its head office from the current premises on Tallinn’s Liivalaia Street to a new office tower in the new Arter business quarter in the first half of 2025, ERR reports. Olavi Lepp, CEO of Swedbank, said that the current premises have become too small and are old-fashioned. Property developer Kapitel’s new…
Traffic disruptions caused by major road reconstruction projects in Estonia’s capital, Tallinn, will begin to subside in September 2023, deputy mayor Vladimir Svet assures, ERR reports. Construction companies KE Infra and Merko Ehitus say that the work is proceeding on schedule. Streets have been closed in several of the busiest parts of the city, hampering…
The international credit rating agency, Fitch Ratings, has reaffirmed Lithuanian shopping centre developer Akropolis Group’s long-term borrowing rating at BB+ with a stable outlook, GlobeNewswire reports. The agency noted Akropolis Group’s good financial and operational performance, leading market position, and low vacancy rate. Nerijus Maknevicius, CEO and board chairman of Akropolis Group, said that the…
Lithuanian agricultural company Kauno Grudai has completed the acquisition of 100% of shares in the local agricultural cooperative, Grybai LT, from organic food producer Auga Group for EUR 16.327mn, GlobeNewswire reports. Kauno Grudai bought the shares from Auga Group’s subsidiaries for EUR 12.949mn and repaid Grybai LT’s loan of EUR 3.379mn. Also, Kauno Grudai granted…
The Principality of Monaco may establish a permanent office in the Latvian capital, Riga, The Baltic Times reports. Andris Kuznieks, deputy head of the European Commission’s representation in Latvia, offered premises for regular cultural activities to showcase Monaco. The issue was discussed during a visit to Latvia by Professor Franco Borruto, consultant on health care…
The movements of the Russian private military company, Wagner Group, in Belarus do not present any direct threat to Latvia, the Ministry of Defence stated, LETA reports. The ministry noted that Latvia’s national security authorities have been on high alert ever since Russia started its full invasion of Ukraine. Meanwhile, Latvian President Edgars Rinkevics said…
Lithuanian asset management firm Modus Asset Management’s Clean Energy Infrastructure Fund will acquire Estonian renewable energy company Evecon’s solar farm portfolio in Latvia for an undisclosed sum, The Baltic Times reports. The portfolio consists of ten ground-mounted solar farms with bifacial solar panels and a total installed capacity of 55 MW. The portfolio is close…