Swedish media company Viaplay Group will exit the Baltic market as part of its cost-saving plans, ERR reports. Viaplay broadcasts entertainment and live sports, including matches from top European football leagues. Viaplay Group reported a net loss of SEK 6.174mn (EUR 534,000) in the first half of 2023.
Sanctioned luxury cars are being shipped from EU countries to Russia via Lithuania, LRT’s investigation revealed. The luxury cars are usually purchased in Denmark or Germany and then transported to Russia via Lithuania and Belarus. Russian car dealers are openly advertising the transit route via Lithuania and Belarus. In 2022, the EU banned the sale…
Lithuanian telecommunications company Telia Lietuva posted unaudited revenue of EUR 230.5mn in the first half of 2023, which was up 7.2% from EUR 214.9mn in the same period of 2022, GlobeNewswire reports. Adjusted EBITDA amounted to EUR 83mn (up 13.6%) and profit to EUR 31.8mn (up 21.2%). In the second quarter of 2023, Telia Lietuva’s…
Latvia’s gas distribution system operator, Gaso, has registered its change of ownership in the country’s commercial register, GlobeNewswire reports. Under a deal signed in April 2023, Estonian privately-owned gas company Eesti Gaas (Elenger) acquired 100% of Gaso’s shares from Latvian gas company Latvijas Gaze for EUR 122mn. Gaso is Latvia’s only natural gas distribution operator.
The cargo turnover of Latvia’s sea ports totalled 3.4mn tonnes in the first half of 2023, which was 14.2% less than in the same period of 2022, according to data from the Ministry of Transport, Baltic News Network reports. The Freeport of Riga handled 9.6mn tonnes of freight, followed by the Freeport of Ventspils with…
Latvia’s Minister of Interior, Maris Kucinskis, has added three owners of the Ventspils-based confectionery producer, Pobeda Confectionery, to the list of foreigners banned from entering the country due to national security concerns, Baltic News Network reports. In March 2023, Latvia’s State Security Service (VDD) found that Russian confectionery producer Pobeda, which has the same owners…
The Investment and Development Agency of Latvia (LIAA) will provide EUR 73.38mn of support from EU structural funds for small and medium-sized enterprises, LSM reports. LIAA expects the programme to support a total of 1,500 innovative businesses. The Ministry of Economy said that the support programme would help businesses developing high-value-added products in the medium-high…
Latvia’s Riga International Airport (RIX) has opened its first helicopter landing area, LSM reports. RIX invested EUR 3.2mn in the heliport, with most of the financing coming from EU funds. The new heliport will allow helicopter traffic in parallel with other air traffic. Also, the heliport will help improve state and civil protection and disaster…
Latvia’s electricity transmission system operator, Augstsprieguma Tikls (AST), plans to invest EUR 509.8mn in the transmission network in 2024-2033, LSM reports. EU support will cover EUR 135.8mn of the total sum. AST will invest in the infrastructure and management technologies of the electricity transmission network to prepare for the synchronisation of the Latvian power grid…