The coordination committee of the European Commission’s Connecting Europe Facility has approved another EUR 295.5mn of funding for the Baltic railway project, Rail Baltica, LSM reports. Of the total, EUR 47.1mn will go to Estonia, EUR 153.5mn to Latvia, and EUR 94.9mn to Lithuania. The project coordinator, RB Rail, said that the funds would be…
Estonian ride-hailing and courier service company Bolt generated a turnover of EUR 1.99bn in 2024, which was up 17% from EUR 1.7bn in 2023, ERR reported. Ride-hailing services accounted for 82% of total revenue. The company’s operating loss reduced to EUR 87.7mn from EUR 94.3mn in 2023. Bolt’s annual net loss amounted to EUR 102.6mn…
Lithuania is deploying permanent counter-mobility measures on parts of its border with Russia’s Kaliningrad (Königsberg) region, LRT reports. The installations include barriers on the Queen Louise Bridge separating Panemune in Lithuania and Sovetsk on the Russian side to stop the movement of hostile vehicles. Defence Minister Laurynas Kasciunas said that the government planned to spend…
Estonian mobility company Bolt posted revenue of EUR 1.7bn in 2023, which was up 37.4% from EUR 1.2bn in 2022, ERR reports. The company’s operating loss stood at EUR 94.3bn, compared to EUR 262.6mn a year earlier. However, annual net loss rose to EUR 91.9mn from EUR 72.2mn in 2022. Bolt offers taxi, delivery, and…
Lithuania and Poland plan to hold joint military exercises in the so-called Suwalki Gap, Lithuanian President Gitanas Nauseda announced, BNS reports. Speaking after a meeting with Polish President Andrzej Duda in Vilnius, Nauseda suggested that the exercise could take place in April 2024. He said that the two countries would undertake joint measures to increase…
The UAE-based private real estate investment firm, Eagle Hills, plans to invest more than EUR 3bn in the Latvian capital, Riga, over 10-15 years, LSM reports. The company plans to develop an area of around 57 hectares in Riga’s Andrejsala neighbourhood, building more than 6,500 new apartments, outdoor spaces, and a new passenger terminal at…
The Estonian government has approved draft legislation to introduce an annual car tax and a vehicle registration fee, ERR reports. Under the plan, the new law will enter into force as of 2025. The amount of the car tax and the registration fee will depend on the vehicle’s emissions and age as well as weight…
The Investment and Development Agency of Latvia (LIAA) has approved 20 foreign direct investment (FDI) projects to the tune of EUR 371.5mn so far in 2023, LSM reports. The projects will create 1,160 new jobs. The investment projects are in sectors such as bioeconomy, ICT, photonics and smart materials, smart energy and mobility, as well…