All new beverages sold in Latvia will have to be marked with a Latvian deposit mark as of 1 July 2023, DELFI reports. Beverage producers and retailers had a transition period from 1 January to 30 June 2023 to allow them to adjust to the new rules. Miks Sturitis, board chairman of the deposit system…
New electricity distribution tariffs came into force in Latvia on 1 July 2023, LSM reports. Ahead of the change, distribution system operator Sadales Tikls (ST) urged consumers to change the tariff plan for facilities with low electricity consumption. However, ST’s client portal was unavailable due to technical maintenance on 29-30 June 2023. ST said that…
Estonia’s passenger train operator, Elron, began operating Swiss rolling stock manufacturer Stadler’s FLIRT electric trains ten years ago on 1 July 2013, ERR reports. In ten years, the trains have carried more than 66 million passengers. In 2013, train passenger numbers were at an all-time low of 4.2 million journeys. Elron will receive 16 new…
Estonia’s Prisma Peremarket will change the opening hours of its hypermarket in Narva as of 3 July 2023, ERR reports. The store, which has been open 24 hours a day for four years, will henceforth be open from 7am to midnight. Regional manager Viktoria Smirnova said that there were very few customers at night. Also,…
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…
