Hong Kong-based investment firm PAG Private Equity will acquire full control of Latvia’s Food Union Group, which produces ice cream and other frozen foods, LSM reports. PAG expects to complete the transaction in the first quarter of 2024. Food Union will continue under present management and business structure. PAG has been an investor in Food…
Estonia’s state-owned national airline, Nordica, will cease operations, ERR reports. Climate Minister Kristen Michal said that the government would allocate EUR 14.5mn to Tallinn Airport to ensure competitive fees and secure important routes. Another option is for the government to begin procuring direct flights to key destinations. The Ministry of Climate has contacted seven potential…
Russian President Vladimir Putin has increased efforts to create the information conditions for a future escalation against the Baltic States, according to the US-based Institute for the Study of War (ISW), LRT reports. Putin asserted that Latvia’s moves to expel Russian citizens “directly affected Russia’s security.” Earlier, Latvia’s Office of Citizenship and Migration Affairs (PMLP)…
Estonia’s three-party ruling coalition will meet on 30 January 2024 to discuss the state of the coalition, according to Foreign Minister Margus Tsahkna, chairman of Estonia 200 (E200), ERR reports. Tsahkna said that E200 would propose ways to revitalise the economy, including measures to reform education, ensure labour and capital availability, and stabilise energy prices…
The last leader of the Communist Party of Estonia (EKP), Vaino Väljas, has died at the age of 92, ERR reports. President Alar Karis offered his condolences, noting the important role that Väljas played during Estonia’s Singing Revolution in the late 1980s, leading to the restoration of independence in 1991. Väljas was born on Hiiumaa…
The Baltic States continue to have the highest loan interest rates in the eurozone, according to data from the European Central Bank (ECB), ERR reports. The average interest rate in the three Baltic countries was 5.9% at the end of November 2023. The eurozone average stood at 4.1%. Meanwhile, the average interest on consumer loans…
Satisfaction with life in the Baltic States was lowest in Latvia in 2022, according to Eurostat data, LSM reported. Residents in Latvia rated their overall life satisfaction at just 6.8 out of 10 points in 2022, which was up from 6.7 in 2021. The indicator stood at 7.1 (7.0) points in Lithuania and 7.2 (7.2)…
Estonia’s Ministry of Climate has confirmed the felling quota for the state forest management centre, Riigimetsa Majandamise Keskus (RMK), in 2024, ERR reports. Under the decision, the felling quota will remain unchanged at 9,180 hectares. The quota only relates to RMK’s forest land, which represents around 1% of Estonia’s total forest area. A little less…
Europe has three to five years to prepare for Russia to pose a serious threat to NATO’s eastern flank, Estonian Prime Minister Kaja Kallas estimated, ERR reports. Speaking in an interview with The Times, Kallas said that the time frame depended on NATO unity and continued support for Ukraine. She conceded that there were signs…