Lithuania’s state-owned energy group, Ignitis Grupe, will invest EUR 25mn in energy and climate change startups over ten years through Germany’s World Fund, Baltic News Network reports. The group has signed an investment management agreement with WF World Fund Management. Earlier, Ignitis Grupe announced that World Fund would manage the group’s second venture capital fund….
Retail turnover in Estonia saw a significant decline in the first half of 2023, primarily driven by decreases in the construction and industrial goods sectors, while food sales remained relatively stable, ERR reports. The electronics industry was particularly hard-hit, with a sharp 20% drop in sales year-on-year, specifically in computers and telecommunications devices. Bookstores also…
Latvian restaurant operator Rosinter Restaurants, which owned the IL Patio, Planeta Sushi, and TGI Fridays restaurants in Riga, has been liquidated, TVNET reports. The company was registered in 2004 and was one of the oldest catering companies in Latvia. The company initiated insolvency proceedings in autumn 2021. Rosinter Restaurants reported a turnover of EUR 1.4mn…
The total turnover of Estonia’s food retail chains rose by 12.4% in 2022, according to data from Statistics Estonia, ERR reports. Coop’s net retail sales amounted to EUR 805.9mn (up 7.2%) and operating profit to EUR 12.6mn (EUR 29.2mn). Selver’s sales stood at EUR 601.9mn (up 4.7%) and pre-tax net profit at EUR 11.2mn (down…