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 plans to invest EUR 680.5mn in road maintenance in 2024-2027, which is EUR 76mn more than in the previous four-year period, the Ministry of Climate announced, BNS reports. State budget funds will account for EUR 543.8mn and funding from the EU’s Cohesion Fund and Connecting Europe Facility for EUR 136.7mn of the…
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 number of traffic insurance cases registered in Estonia totalled 34,300 in 2023, which was almost unchanged from 2022, according to data from the Estonian Motor Insurance Bureau (LKF), ERR reports. The total volume of damages paid amounted to EUR 72mn, which was up 3% over a year. The average damage per case stood at…
The number of new layoffs in Estonia totalled 3,500 in 2023, which was 22% more than in 2022, according to data from the Estonian Unemployment Insurance Fund (Töötukassa), ERR reports. Around a third of those laid off were formerly employed in the manufacturing and another third in transport and storage. The biggest number of layoffs…
The Estonian state should consider buying a stake in Latvia’s national air carrier, airBaltic, Riivo Tuvike, CEO of Tallinn Airport, suggested, ERR reports. He argued that this would push airBaltic towards expanding operations at Tallinn Airport, where it is the market leader. Tuvike pointed out that Estonia was a “peripheral country,” saying that state support…
The Estonian shipping company, Tallink Grupp, carried a total of 5,705,600 passengers in 2023, which was up 4.5% from 5,462,085 in 2022, ERR reported. The number of passengers increased on the Estonia-Finland and Estonia-Sweden routes, but decreased on the Finland-Sweden routes. The company’s ferries carried 840,881 passenger vehicles in 2023, which was an increase of…
Latvia’s national airline, airBaltic, carried around 4.5mn passengers in 2023, which was 36% more than in 2022, according to preliminary data, LETA reports. The carrier operated over 44,000 flights, which was 18% more than a year earlier. The company offered direct flights on over 100 routes from bases in Riga, Vilnius, Tallinn, Tampere, and Gran…
Latvia supports prohibiting the import of Russian grain but will not impose a unilateral ban, parties in the coalition government announced, LSM reports. Instead, Latvia calls on EU member states to agree on a common position on the issue. At the same time, the government is instructing ministries to assess the impact of such a…