Baltic financial group Luminor has appointed Karl von Rohr as the new chairman of the supervisory councils of Luminor Holding and Luminor Bank as of 1 January 2026, LSM reports. He replaces Nils Melngailis, who served in the positions since the bank was established in 2017. Prior to his appointment, von Rohr was management board member…
The profit share of non-financial corporations in the Baltic States was highest in Lithuania in 2024, according to Eurostat data, LSM reports. The profit share of non-financial corporations in Lithuania stood at 41.6%, followed by Estonia with 40.0% and Latvia with 35.6%. The EU average was 40.1%. The business profit share is defined as gross…
Europe has finally received the message, “loud and clear,” from successive US presidents that Europeans must take responsibility for their own security, Jonatan Vseviov, secretary general of the Estonian Foreign Ministry, said, ERR reports. He insisted that Europe must stand firm behind the principles that have made the current European security order possible — territorial…
The three Baltic States have joined Finland, Ireland, Poland, and Sweden in urging the EU to use frozen Russian assets to help Ukraine, LETA reports. The seven member states sent a joint letter to European Commission (EC) President Ursula von der Leyen and European Council President António Costa to express support for the EC’s proposal…
The Baltic States will receive “special favour” from the United States in the future for being “model allies” who prioritise their own defence, US Secretary of Defence Pete Hegseth stated, ERR reports. The three Baltic countries have pledged to allocate 5% of their GDP to defence over the coming years. Allies that “fail to do…
French risk management company Coface’s ranking of the 50 largest companies by turnover in the Baltic States in 2024 includes 28 companies in Lithuania, 15 in Estonia, and 7 in Latvia, LETA reports. The top five companies are all from Lithuania: retail holding group Vilniaus Prekyba with a consolidated turnover of EUR 8.02bn in 2024,…
The presidents of the three Baltic States met in the Latvian capital, Riga, on 4 December 2025 for their annual pre-Christmas meeting, LSM and BNS reported. Latvian President Edgars Rinkevics said that key issues discussed included defence and security, border protection, and support for Ukraine. He emphasised that “if you look at the map, the…
Lithuania recorded the largest increase in net electricity generation in the EU over 2013-2023, according to data from Eurostat, LSM reports. Lithuania’s net electricity production rose by 28.2% in the ten-year period. Latvia recorded a slight increase in electricity generation as well. Meanwhile, Estonia’s electricity generation decreased by as much as 58.5% over the same…
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…