Housing prices more than tripled in Estonia between 2010 and the third quarter of 2023, rising by 210%, according to Eurostat data, LSM reports. Meanwhile, housing prices more than doubled in Lithuania (up 158%) and Latvia (up 141%) over the same period. The increase in rents was the EU’s highest in Estonia (up 218%) and…
Defects in new electric trains of Latvia’s state-owned carrier, Pasazieru Vilciens (Vivi), disrupted the daily commute of hundreds of passengers in the first week of 2024, LSM reported. The technical problems resulted in running cancellations and delays of many departures. Transport Minister Kaspars Briskens assured that most of the defects were “relatively trivial.” However, some…
The number of cars newly registered in Latvia totalled 18,000 in 2023, LSM reported. The most popular brands in the new car segment were Toyota (3,900), Skoda (2,350), and Volkswagen (2,000). In the second-hand car market, the most popular brands were BMW, Volkswagen, and Audi. The data showed that SUVs and 4×4 cars were the…
The number of new cars sold in Estonia totalled 22,820 in 2023, which was 11.7% more than in 2022, according to data from the Union of Estonian Car Sales and Service Enterprises (AMTEL), ERR reports. Sales were still short of the figure in 2019, when the number of new cars sold totalled 26,589. Hybrid vehicles…
Latvia supports prohibiting the import of Russian grain but will not impose a unilateral ban, parties in the coalition government announced, LSM reports. Instead, Latvia calls on EU member states to agree on a common position on the issue. At the same time, the government is instructing ministries to assess the impact of such a…
Lithuania’s state-owned airport operator, Lietuvos Oro Uostai (Lithuanian Airports, LTOU), plans to invest another EUR 250mn in 2025-2052, according to a study drawn up by Dutch aviation consultancy NACO, BNS reports. Under the plan, LTOU would invest around EUR 180mn in developing Vilnius International Airport, EUR 50mn in Kaunas Airport, and EUR 20mn in Palanga…
The Latvian government will discuss the listing of state-owned companies and municipal enterprises on the stock exchange in January 2024, LSM reports. The first company to be listed will be national air carrier airBaltic. Finance Minister Arvils Aseradens said that the list would include other companies as well. Enterprises that may be listed include telecommunications…
Poland’s Bank Polska Kasa Opieki (Bank Pekao) plans to open a branch in Lithuania, according to Gediminas Simkus, head of the Bank of Lithuania, BNS reports. Speaking in an interview with 15min, Simkus said that Bank Pekao’s representatives visited Lithuania in December 2023. He was optimistic about the bank setting up operations in Lithuania. Sources…
Lithuania is exploring the possibility of acquiring a stake in Latvia’s national air carrier, Air Baltic Corporation (airBaltic), according to Transport Minister Marius Skuodis, BNS reports. Skuodis has discussed the issue with his Latvian counterpart, Kaspars Briskens. Skuodis suggested that some airBaltic aircraft could be based in Lithuania and that airBaltic could become a joint…