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…
Members of the Estonia-Taiwan Support Group of the Estonian parliament, the Riigikogu, will visit Taiwan on 4-8 March 2024, ERR reports. The largest ever Estonian delegation to Taiwan, the MPs will meet with Taiwanese President Tsai Ing-wen, parliamentary speaker Han Kuo-yu, Prime Minister Chen Chien-jen, and Foreign Minister Joseph Wu, as well as representatives of…
The Estonian government has failed to include a project to open a regular passenger train connection between Tartu and the Latvian capital, Riga, in its long-term budget plans for 2025-2027, ERR reports. The government points to concerns about a competing Latvian proposal that would entail lower costs but less convenient departure times. Nevertheless, the government…
Lithuanian banks and credit institutions paid around EUR 256mn in temporary solidarity tax in 2023, according to the Bank of Lithuania, BNS reported. The central bank estimates that revenue from the solidarity tax could amount to around EUR 190mn in 2024. The government will use the proceeds from the bank tax to pay for military…
