Latvian Prime Minister Evika Silina’s New Year message emphasised the significance of education for the nation’s future prosperity, LSM reported. Speaking from Riga Technical University, she underscored the importance of science and learning to compete globally. Silina called for investing in children, highlighting the role of education in shaping their future. She paid tribute to…
Lithuanian cyber security company Nord Security has attracted a new USD 100mn (EUR 95mn) investment from US private equity firm Warburg Pincus, LRT reports. Existing investors, Novator Partners and Burda Principal Investments, also contributed in the latest round. Nord Security will expand its NordVPN and Surfshark cyber security products in various markets. Also, the company…
Estonia’s Prime Minister, Kaja Kallas, has submitted the draft state budget for 2024 to the parliament, the Riigikogu, for debate, ERR reports. Budget revenues will amount to EUR 16.79bn, expenses to EUR 17.67bn, and investments to EUR 0.82bn. The budget deficit is estimated at EUR 1.19bn or 2.8% of GDP, and the government therefore plans…
Latvia’s Ministry of Finance plans to submit draft laws on the state budget for 2024 and budget plans for 2024-2026 to the parliament, the Saeima, on 3 November 2023, LETA reports. The government will discuss the budget at its next meeting. The new coalition government’s declaration pledges to carry out a “balanced social, environmental, and…
The Lithuanian renewable energy company, Green Genius, will invest EUR 179mn in solar farms in Latvia and Lithuania, BNS reports. The company plans to invest EUR 109mn in a 153-hectare solar farm near the Latvian city of Jekabpils and EUR 70mn in a 140-hectare solar power plant in the Lithuanian town of Seduva. Green Genius…
The Estonian government has agreed on the state budget for 2024, Prime Minister Kaja Kallas announced, ERR reports. Under the agreement, the government will introduce no new taxes in addition to ones implemented earlier. The government will not impose a new tax on commercial banks, which will instead pay more taxable dividends. Also, the government…
Lithuania plans to complete the construction of a National Concert Hall in Vilnius in 2030, the capital city’s mayor, Valdas Benkunskas, announced, BNS reports. Benkunskas expects a contract on the project to be signed in spring 2024. The Ministry of Culture estimated that the total cost of the project will amount to around EUR 121mn….
Estonia and Latvia have signed a contract to buy IRIS-T SLM medium-range air defence systems from Germany’s Diehl Defence, BNS reports. The deal, worth nearly EUR 400mn, is the biggest single defence contract in Estonian history. The procurement will include launchers, radars, fire control centres, and missiles. The first systems are due to be delivered…
Turkish-owned Liepaja Steel has abandoned plans to resume production at its steel plant in the Latvian city of Liepaja, LETA reports. The company will dismantle the plant’s steel melting furnace and move the machinery to Türkiye. Liepaja Steel failed to reach agreement with the Liepaja city council and the Liepaja Special Economic Zone (Liepajas SEZ)…