US investment company Blackstone plans to sell Baltic-based Luminor Bank, according to Bloomberg, LETA reports. Blackstone expects to sell the bank for around EUR 1.9bn and to conclude the deal in 2024. Peter Priisalm, head of Avaron Investments, suggested that one potential buyer could be Polish insurance group PZU, while Valeria Kiisk, partner at Redgate…
The cargo turnover of Latvian ports totalled 38.655mn tonnes in 2023, which was down 19.6% from 48.078mn tonnes in 2022, according to data from the Ministry of Transport, Baltic News Network reports. The ministry attributed the decline to changes in the geopolitical situation, particularly the sanctions against Russia. The volume of bulk cargo handled at…
Latvia’s Minister of Environmental Protection and Regional Development, Inga Berzina, has proposed renaming the ministry to the Ministry of Nature Protection and Regional Development, LETA reports. Earlier, environmental services were transferred to the Ministry of Climate and Energy. Berzina said that the name change could be implemented after the distribution of functions in July 2024….
The Latvian parliament, the Saeima, has approved in final reading amendments to merge the country’s public broadcasters, Latvijas Televizija (LTV) and Latvijas Radio, in 2025, LETA reported. Under the plan, the two companies will merge into a new public broadcasting corporation, Latvijas Sabiedriskais Medijs (LSM). Latvijas Radio’s trade union objected to the plan, arguing that…
There will be no referendum against same-sex civil partnership in Latvia, LSM reports. A campaign to hold a popular referendum to suspend the publication of the new partnership law collected just some 15% of the around 155,000 signatures needed. The campaign, which was supported by the opposition United List, National Alliance, Latvia First, and For…
NATO is preparing for a possible Russian attack on the alliance’s eastern flank, with the Baltic States being the main target, according to German tabloid Bild, LETA reports. Bild referenced a “secret document” of the German Defence Ministry, describing a possible scenario of a war between Russia and NATO in summer 2025. According to the…
The municipal administration of Latvia’s capital, Riga, banned a protest in support of Palestine planned for 6 January 2023, LETA reported. Janis Lange, executive director of Riga’s municipal administration, prohibited the protest after security services concluded that the event could pose a threat to public safety. The “For Free Palestine” movement said that the rally…
Lithuania’s Foreign Ministry hosted the annual foreign and security policy conference, Snow Meeting, in Vilnius on 12 January 2024, Baltic News Network reported. The conference was attended by the foreign ministers of Lithuania, Poland, Romania, and Sweden, as well as political leaders and security policy experts from several countries. The participants discussed support for Ukraine…
Researchers at Russia’s Pskov State University have compiled an analytical report on the use of Russia’s “soft power” instruments in the Baltic States, Baltic News Network reports. The report discusses the challenges posed by restrictions on Russian propaganda in the region, suggesting alternative methods of influence. The report claims that people in the Baltic States…