Latvia’s Competition Council concluded seven high-priority cases on violations of and non-compliance with competition law in 2025, LSM reports. Total fines issued in the cases amounted to EUR 2.5mn, according to the council’s annual report. The public benefit increased by around 25% over a year, the Competition Council estimated. The biggest sanctions included a EUR…
French risk management company Coface’s ranking of the 50 largest companies by turnover in the Baltic States in 2024 includes 28 companies in Lithuania, 15 in Estonia, and 7 in Latvia, LETA reports. The top five companies are all from Lithuania: retail holding group Vilniaus Prekyba with a consolidated turnover of EUR 8.02bn in 2024,…
The most loved brand in the Baltic States is the Swedish banking group, Swedbank, according to the Baltic Brand Forum 2025 survey, The Baltic Times reports. Lithuanian supermarket chain Maxima ranked second, followed by Estonia’s state-owned logistics group, Omniva, and German supermarket chain Lidl. The top four ranking remained unchanged from 2024. US technology company…
Lithuanian supermarket operator Maxima Group generated consolidated revenue totalling EUR 3bn in the first half of 2024, which was up 4.7% from the same period of 2023, GlobeNewswire reported. Like-for-like retail sales rose by 2.2% over a year, including by 4.7% in the Baltic States. Online sales dropped by EUR 8mn. The group’s six-month EBITDA…
Lithuania’s state-owned railway company, Lietuvos Gelezinkeliai (LTG), has appointed Kristina Meide as CEO of its passenger train operator, LTG Link, for a five-year term, BNS reports. Meide will replace interim CEO Gediminas Seckus. LTG Link’s previous CEO, Linas Bauzys, was appointed CEO of the Ignalina Nuclear Power Plant (IAE) in September 2023. Prior to her…
Latvia’s Institute of Agricultural Resources and Economics (AREI) compared prices of food products in Maxima and Rimi stores in the Baltic States in June-July 2023, LETA reports. The institute found that in Maxima stores, prices of 43% of products in Lithuania, 32.7% in Latvia, and 31.8% in Estonia were more expensive than in the other…
Latvia’s Economy Minister, Ilze Indriksone, said that the state should not intervene in the food market, LSM reports. Earlier, Agriculture Minister Didzis Smits insisted that market intervention was necessary due to the high food prices. He suggested establishing a special regulator to monitor food prices in shops. Indriksone agreed that Latvia’s large supermarket chains, Maxima…
Food prices in Latvia are not falling as rapidly as they should, and people’s purchasing power is not increasing, Inguna Gulbe, head of the Agricultural Market Promotion Centre (LTVC), stated, LSM reports. She noted that prices for some food products, such as sunflower oil and butter, were falling, while other food products remained more expensive…
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…