Latvian President Edgars Rinkevics has submitted to the country’s parliament, the Saeima, amendments that would freeze the wages of top management in state-owned enterprises (SOE), LETA reports. Under the proposal, the wages of top executives at state and municipal companies would be frozen until the end of 2026. Rinkevics stressed that the remuneration of top…
Latvia’s Transport Minister, Kaspars Briskens, has no intention to resign despite criticism of his communication, LSM reports. Earlier, President Edgars Rinkevics and Prime Minister Evika Silina criticised the minister’s messaging on the future of the country’s national air carrier, airBaltic, and the Rail Baltica railway project. Speaking after a meeting with Briskens, Rinkevics said that…
Estonia’s three-party coalition of the Estonian Reform Party, Social Democratic Party (SDE), and Estonia 200 has published its new coalition agreement, ERR reports. Under the agreement, the coalition pledges to cut the budget deficit to 3% of GDP in 2025 and 2026, and to reduce it further in 2027. The new government will raise most…
The Estonian government plans to split the state-owned energy group, Eesti Energia, into three separate companies, Finance Minister Mart Võrklaev announced, ERR reports. He said that the plan was to list shares of network operator Elektrilevi and renewable energy producer Enefit Green on the stock exchange. However, Võrklaev said that he was no longer in…
Latvian metal processing company EMJ Metals has started cooperation with Finnish military vehicle manufacturer Patria, LSM reports. EMJ Metals manufactures metal sheet parts and APC bodies. The company invested EUR 3mn in equipment and renovating its production facility to enable cooperation with manufacturers in other countries. Latvian companies are now cooperating with 10 large global…
The Latvian government will discuss the listing of state-owned companies and municipal enterprises on the stock exchange in January 2024, LSM reports. The first company to be listed will be national air carrier airBaltic. Finance Minister Arvils Aseradens said that the list would include other companies as well. Enterprises that may be listed include telecommunications…
The Estonian government has transferred 12 state-owned enterprises under the management of the new Ministry of Environment, ERR reports. The companies were previously managed by the Ministry of Economic Affairs and Communications. The Ministry of Environment will manage Eesti Raudtee, Elering, Elron, Nordic Aviation Group (Nordica), Operail, Port of Tallinn, Rail Baltic Estonia, Saarte Liinid,…
Latvia is likely to have a new three-party coalition government consisting of Prime Minister Krisjanis Karins’s New Unity and two current opposition parties, the Union of Greens and Farmers (ZZS) and the Progressives, in August 2023, Ilona Berzina writes for Baltic News Network. Previously, Karins had assured that New Unity would not cooperate with ZZS…