The founder and chairman of Lithuanian property developer Hanner, Arvydas Avulis, is the country’s most influential business person, according to two new polls, BNS reports. Avulis ranked highest in surveys of both the country’s professional elite and general public. Combining the two polls, 51.6% of respondents ranked Avulis first. Dainius Dundulis, founder and owner of…
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…
An interagency commission of the Estonian government has proposed several measures to reduce the consumption of alcohol in the country, ERR reports. The commission has published a framework plan for Estonia’s alcohol policy for 2026-2035. The document calls for raising the alcohol excise tax, shortening retail alcohol sales hours, reducing the number of licensed outlets,…
Most major grocery retail chains in Estonia managed to increase their revenue only very slightly in 2025, ERR reported. The country’s largest grocery retailer, cooperative network Coop Eesti, reported consolidated revenue of EUR 855.3mn in 2025, which was up 0.2% from 2024. Coop’s market share stood at nearly 23%. Supermarket chain Selver’s annual revenue totalled…
Business sentiment in Latvia was positive in the retail and services sectors, but negative in manufacturing and construction in May 2026, according to the Central Statistical Bureau (CSP), LSM reports. The retail confidence indicator stood at 3.1%, which was up 1.5 percentage points from April 2026. In services, the seasonally adjusted confidence indicator was 1.6%,…
Latvia’s GDP totalled EUR 9.9bn at current prices in the first quarter of 2026, according to data from the Central Statistical Bureau (CSP), LSM reported. Compared to the same period of 2025, the GDP rose by 2.5% at constant prices, according to seasonally and calendar non-adjusted data. Compared to the fourth quarter of 2025, the…
Estonia’s industrial production declined by 3.1% at constant prices in March 2026 compared to the same period of 2025, according to Statistics Estonia, ERR reports. Output increased by 5.9% in mining, but decreased by 19.5% in energy production and by 1.2% in manufacturing. In the manufacturing sector, output in wood processing rose by 5%, fabricated…
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…
Finnish retail group S Group’s supermarket operator, SOK, will sell its 13 Prisma Peremarket hypermarkets in Estonia to local cooperative retailer Coop Eesti for an undisclosed price, ERR reports. Under the deal, the Prisma stores, nine of which are located in Tallinn, will change their name to Coop. The parties expect to complete the transaction…
