Finnish police have arrested two crew members of a cargo ship suspected of severing Finnish telecommunications operator Elisa’s undersea data cable in the Gulf of Finland, YLE reports. In addition, two more crew members were issued with travel bans. Three informed sources told Helsingin Sanomat that there was no indication of Russian involvement in the…
Police in Finland have detained a cargo ship and its crew suspected of breaking two undersea data cables in Estonia’s exclusive economic zone in the Gulf of Finland, ERR reports. Finnish telecommunications operator Elisa detected a fault in its data cable in the early morning hours of 31 December 2025. Estonia’s Ministry of Justice and…
Leaders of the three Baltic States took part in the first Eastern Flank Summit, which was organised by Finnish Prime Minister Petteri Orpo, LETA reported. The summit was also attended by leaders from Bulgaria, Poland, Romania, and Sweden as well as EU defence commissioner Andrius Kubilius. Estonian Prime Minister Kristen Michal noted that Europe’s eastern…
The three Baltic States have joined Finland, Ireland, Poland, and Sweden in urging the EU to use frozen Russian assets to help Ukraine, LETA reports. The seven member states sent a joint letter to European Commission (EC) President Ursula von der Leyen and European Council President António Costa to express support for the EC’s proposal…
Swedish-owned IKEA Group has received permission from the Estonian Competition Authority (Konkurentsiamet) to acquire 18,000 hectares of forest from Swedish-owned Södra Forest Estonia, ERR reports. Under the deal, IKEA Group’s subsidiary, Ingka Investments, will buy Södra’s forests in Estonia and Latvia for EUR 720mn. Latvia’s Competition Council has received notification of the deal. Södra owns…
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…
The combined revenues of Estonia’s three largest telecommunications service providers dropped to around EUR 671mn in 2024, ERR reports. Estonia’s leading telecommunications company, Swedish-owned Telia, reported an annual turnover of EUR 359.7mn, which was down 0.4% from 2023. Finnish-owned Elisa’s turnover fell by 1.2% to EUR 223mn in 2024. Swedish-owned TELE2’s turnover amounted to an…
The Investment and Development Agency of Latvia (LIAA) helped attract 45 foreign investment projects, which will create an estimated 2,023 new jobs, in 2024, LSM reports. The total value of the projects is EUR 655.4mn, which is up 6% from 2023. The biggest investments were in high-value-added manufacturing, ICT, energy, and aviation. LIAA’s target is…
An anchor belonging to the Russian “shadow fleet” oil tanker, Eagle S, which is suspected of damaging several undersea cables in the Baltic Sea, has been retrieved from the seabed, YLE reports. The anchor was raised by the Swedish Navy’s submarine rescue ship, Belos. Finland’s National Bureau of Investigation (KRP) will now begin analysing the…