New EU sanctions have forced the Russian-owned supermarket chain, Mere, to close down its discount stores in Latvia and Lithuania, LETA reports. The EU’s latest package of sanctions against Russia lists the companies operating the Mere chain, and their majority owner, Russian businessman Sergey Shnayder. They were sanctioned for supporting activities that undermine Ukraine’s territorial…
Latvia’s Prosecutor General’s Office (LRP) has opened an investigation into national air carrier airBaltic’s finances, following a request from Prime Minister Andris Kulbergs, LETA reports. The investigation will assess whether decisions taken in relation to airBaltic’s financial situation have been in compliance with the law. LRP carried out a similar investigation in late 2024, but…
Latvia’s National Alliance has proposed merging three ministries into a new Ministry of National Economy, LETA reports. Under the proposal, the new ministry would take over the functions of the current Ministry of Economics, Ministry of Climate and Energy, and Ministry of Smart Administration and Regional Development. Energy Minister Janis Vitenbergs of the National Alliance…
Lithuania is drawing up a contingency plan in the event that Latvia’s national airline, airBaltic, reduces flights or withdraws entirely from Lithuania, Transport Minister Juras Taminskas announced, BNS reports. Earlier, Latvian Finance Minister Maris Kucinskis said that airBaltic would likely need to reduce its operations. Taminskas said that a sudden suspension of airBaltic’s flights would…
Latvian President Edgars Rinkevics has turned to the State Security Service (VDD) over Hungarian banking group OTP Bank’s plan to acquire the Baltic banking group, Luminor Bank, LSM reports. He noted that the statement of intent on the possible acquisition was just the start of the process, adding that regulatory approval for the deal would…
Lithuania’s budget deficit was the smallest in the Baltic States in the first quarter of 2026, according to Eurostat data, BNS reported. Lithuania’s budget deficit stood at 0.9% of GDP, which was down from 1.7% in the fourth quarter of 2025. Estonia’s budget deficit amounted 1.2% (1.3%) and Latvia’s to 1.9% (2.4%) of GDP. Meanwhile,…
The Latvian government is holding talks with 23 potential investors on the acquisition of Swedish telecommunications group Telia’s shares in the Latvian telecommunication companies, Tet and Latvijas Mobilais Telefons (LMT), Economy Minister Viktors Valainis announced, LETA reported. He said that there was strong international interest in the deal and that the transaction was progressing largely…
Hungarian banking group OTP Bank’s operations in Russia raise “legitimate questions” about its ​planned acquisition of the Baltic banking group, Luminor Bank, Lithuania’s central bank, the Bank of Lithuania, stated, Reuters reports. Earlier, OTP Bank announced that it had signed an agreement to buy Estonia-based Luminor. The Bank of Lithuania said that the European Central…
The Latvian state is in talks with three potential investors in the country’s national air carrier, airBaltic, Prime Minister Andris Kulbergs announced, LSM reports. Speaking in an interview with Latvijas Radio, Kulbergs said that the state should no longer be involved in the aviation business. Also, he insisted that the state’s share in shouldering airBaltic’s…
