Estonia’s Harju County Court has acquitted the defendants in a criminal case against the management of the Port of Tallinn due to statute of limitations, ERR reports. The court determined that the accused members of the port’s management board, who were charged with bribery and money laundering, did not act as officials, reclassifying their actions…
Estonian bus operator Lux Express has opened a night-time bus service between Estonia’s second-largest city, Tartu, and the Latvian capital, Riga, BNS reports. The daily bus departs from Tartu at 11:15pm and arrives at Riga International Airport at 4:20am. In addition, Lux Express has a morning and an evening departure from Tartu to Riga, and…
Lithuania has implemented stricter controls on grain imports from Russia and other high-risk countries and territories as of 18 March 2024, BNS reports. Under the new rules, all shipments by land to the Lithuanian market or for export will be inspected. The Agriculture Ministry expects the controls to be extended to include checks on the…
Airports Council International (ACI) has announced Estonia’s Tallinn Airport as the best European airport in the category of airports with 2-5 million passengers in 2023, BNS reports. At the same time, ACI awarded Tallinn Airport for being the most enjoyable, easiest, and cleanest airport in Europe. ACI has awarded Tallinn Airport for high-quality services six…
The Baltic bank, Luminor, has appointed Wojciech Sass as its new CEO and board chairman, replacing Peter Bosek, The Baltic Times reports. Prior to his appointment, Sass served as CEO of Belgium-based Aion Bank. Previously, he has worked as CEO of Nationale-Nederlanden Poland, deputy board chairman of BNP Paribas Bank Polska, and head of Boston…
Estonian biomaterials company Fibenol plans to invest EUR 600-700mn in a biorefinery in Latvia, ERR reports. Fibenol’s pretreatment technology will convert locally-sourced wood into biomaterials that can replace fossil fuel-based chemicals in various industries. The company had initially intended to build the plant in Estonia. Fibenol’s owner, Raul Kirjanen, noted that countries rich in wood…
Lithuanian farmers and grain processors are expressing increased concern over the import of Russian grain into the EU, LRT reports. Ausrys Macijauskas, chairman of the Lithuanian Grain Growers Association (LGAA), noted that 12mn tonnes of Russian grain was imported into the EU in 2023, including over 3mn tonnes via Latvia and Lithuania. Macijauskas said that…
Latvia’s national airline, airBaltic, posted an all-time record revenue and profit in 2023, LSM reported. The company’s annual turnover amounted to EUR 668mn, which was up 33.6% from EUR 500mn in 2022. The carrier’s net profit stood at EUR 34mn, which was up from a loss of EUR 54mn a year earlier. The company will…
The EstLink 2 undersea electricity cable connecting Estonia and Finland malfunctioned in late January 2024 due to an internal short circuit, transmission system operator Elering announced, ERR reports. The short circuit may have been caused by the cable’s steep angle where it transitions from land to sea. Experts believe the fault resulted from either geological…
