Prosecutors in Estonia suspect fuel retailer Olerex and its co-owner, Andres Linnas, of submitting false information to the Estonian Environmental Board (Keskkonnaamet), ERR reports, citing Eesti Päevaleht. Prosecutor Gerd Raudsepp said that Linnas had ordered Olerex employees to submit false information on a diesel fuel shipment to Estonia in December 2022. The company claimed that…
The municipal government of Estonia’s second-largest city, Tartu, is considering introducing new time restrictions on the sale of alcoholic beverages, ERR reports. The city council will discuss possible restrictions in October 2023. In spring 2023, the municipality agreed with most nightclubs in the city to close their doors half an hour earlier in summer. However,…
The number of non-cash payments in Latvia totalled 394.2mn in the first half of 2023, which was 10% more than in the same period of 2022, the Bank of Latvia reported. The total value of non-cash payments amounted to EUR 150.7bn, which was up 26% from a year earlier. The average number of payments was…
Latvia’s retail trade turnover fell by 2.3% in June 2023, compared to June 2022, according to the Central Statistical Bureau’s calendar-adjusted data at constant prices, LSM reports. Retail trade of food products declined by 5.2% and non-food products by 2.9%, while retail sales of automotive fuel increased by 5.5% over a year. Retail trade turnover…
Estonia’s retail trade turnover fell by 9% in the first half of 2023 from a year earlier at constant prices, according to data from Statistics Estonia, ERR reports. In June 2023, retail trade turnover totalled EUR 896mn, which was down 8% over a year. Retail sales in stores selling manufactured goods fell by 12% over…
The Lithuanian fashion retailer, Apranga Group, posted an unaudited consolidated profit before income tax of EUR 9.0mn in the first half of 2023, which was up from EUR 7.1mn in the same period of 2022, GlobeNewswire reports. The group’s EBITDA amounted to EUR 18.9mn, which was up from EUR 17.1mn a year earlier. Six-month retail…
Latvia’s Health Ministry has proposed amendments to further restrict the availability of alcohol, LSM reports. The amendments would reduce the sales hours of alcoholic beverages, ban sales of alcohol at petrol stations, and raise the legal drinking age to 20 years. The ministry hopes that the amendments will reduce alcohol consumption, illness, injuries, and mortality….
The Latvian Food Retailers Association (LPTA) has asked Agriculture Minister Didzis Smits to provide proof for his claim of 300% markups on food prices in stores, Baltic News Network reports. If the minister cannot provide such proof, LPTA will ask him to retract his statement. Earlier, Smits claimed that food retailers had applied 300% markups…
The international credit rating agency, Fitch Ratings, has reaffirmed Lithuanian shopping centre developer Akropolis Group’s long-term borrowing rating at BB+ with a stable outlook, GlobeNewswire reports. The agency noted Akropolis Group’s good financial and operational performance, leading market position, and low vacancy rate. Nerijus Maknevicius, CEO and board chairman of Akropolis Group, said that the…
