Estonia ranks among the world’s top nations in cyber security, according to the Global Cybersecurity Index of the UN’s International Telecommunication Union, BNS reports. The index assessed progress on digital security measures in terms of legal, organisational, technical, capacity-building, and cooperation efforts. The report pointed to Estonia’s robust cyber security legislation and regulation, effective organisational…
Lithuanian President Gitanas Nauseda has submitted to parliament a proposal to revoke three treaties with Russia and Belarus on economic cooperation, BNS reports. Nauseda proposed denouncing treaties on the promotion and protection of investments with Belarus and Russia as well as a treaty to avoid double taxation with Russia. Lithuania signed all three treaties in…
Latvia’s national air carrier, airBaltic, may gain a new strategic investor either before or after the company’s planned IPO, according to CEO Martin Gauss, LETA reports. The company expects to announce the IPO in the second half of 2024 or in 2025. The goal is to raise EUR 300mn on the stock exchange, ERR reports….
Lithuania has asked the European Commission (EC) to disburse EUR 463mn from the EU’s Recovery and Resilience Facility (RRF), BNS reports. This is Lithuania’s third payment request under the facility. Lithuania asked for EUR 174.7mn in grants and EUR 288.3mn in loans. The EC will now assess the request and assess Lithuania’s achievement of the…
More than 60 Latvian companies are taking part in a large trade mission to the US led by President Edgars Rinkevics, Labs of Latvia reports. Around 80% of the companies represent the service sector. The delegation will visit three cities — Houston, San Francisco, and Denver — over 16-24 September 2024. Economy Minister Viktors Valainis…
Latvia’s banking association, Finance Latvia Association (FNA), opposes a proposed windfall tax on local banks, LETA reports. The association argued that the tax was “disproportionate, short-sighted, and nontransparent.” FNA warned that the tax would have negative long-term consequences, hampering Latvia’s growth, competitiveness, and attractiveness for private investment. The tax would oblige the financial sector to…
One of Estonia’s wealthiest businessmen, Margus Linnamäe, will buy out his business partner, Ivar Vendelin, in the Apollo and MM Group investment companies, ERR reports. Vendelin will focus on real estate investments instead. Following the transaction, Apollo will be fully owned by MM Group. Linnamäe will own 98% and lawyer Aare Kurist the remaining 2%…
Lithuania’s Foreign Minister, Gabrielius Landsbergis, criticised President Gitanas Nauseda for delaying a decision to end investment protection treaties with Russia and Belarus, BNS reports. Landsbergis noted that the government had proposed revoking the treaties back in May 2024. He insisted that Nauseda would have had enough time to refer the issue to the parliament, the…
The coordinator of the Rail Baltica railway project, RB Rail, will start talks with private investors on financing the project’s implementation in Latvia at the end of 2024, LSM reports. Latvia’s Ministry of Transport presented a report on the project to the public expenditure and audit committee of the Latvian parliament, the Saeima. Latvia has…