Latvia: Vivi council resigns over electric train crisis

Members of the supervisory council of Latvia’s state-owned passenger train operator, Pasazieru Vilciens (Vivi), have resigned, LSM reports. The company has come under heavy criticism because of recurring problems with new electric trains delivered by the Czech manufacturer, Skoda Vagonka. Vivi’s council chairman, Sandis Steins, insisted that responsibility for the problems was beyond the council’s…

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Latvia: Construction of Baltic Defence Line should be coordinated with Finland, Poland: President

Building unified Baltic defence infrastructure should be coordinated with Finnish and Polish military experts, Latvian President Edgars Rinkevics stated, LETA reports. Baltic cooperation with Finland and Poland was necessary to create an effective defence mechanism, he said. At the same time, Rinkevics reminded that Latvia was part of NATO’s defence planning. He discussed the issue…

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Baltic: Baltic defence line preparation for possible Russian attack: Lithuanian minister

The decision of the three Baltic States to build a “Baltic defence line” is preparation for a possible Russian attack, Lithuanian Foreign Minister Gabrielius Landsbergis stated, BNS reports. He said that the move served as a political message, seeking to draw the attention of allies to the threat posed by Russia. “If Russia is not…

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Latvia: Russia wants to restore empire: President Rinkevics

Russian dictator Vladimir Putin dreams of restoring the Russian Empire, as indicated by Russian propaganda and hybrid warfare, Latvian President Edgars Rinkevics stated, LETA reported. Speaking at the World Economic Forum in Davos, Rinkevics said that the Latvian government should remember that peacetime was over, stressing the need to boost the defence industry and defence…

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Baltic: Blackstone plans to sell Luminor Bank in 2024: report

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…

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