Latvia’s Riga City Council has elected New Unity’s Vilnis Kirsis as the capital city’s new mayor, LETA reports. Kirsis named street renovation, construction of new housing, and investment in education as his policy priorities. Kirsis served as acting mayor after the resignation of Martins Stakis, who represented the Progressives and Movement For, in early July…
Estonia’s state-owned port operator, Port of Tallinn (Tallinna Sadam), generated sales revenue of EUR 57mn in the first half of 2023, which was almost unchanged from a year earlier, ERR reports. The port’s adjusted EBITDA fell by 12% from a year earlier. Net profit stood at EUR 7mn, which was down 42% over a year….
Latvia’s national air carrier, airBaltic, posted the highest ever revenue and profit in the company’s history in the first half of 2023, LSM reports. The company’s six-month revenue totalled EUR 291mn, which was up 52% from a year earlier. Net profit amounted to EUR 14.6mn, which was up sharply from a net loss of EUR…
Lithuania’s Minister of Transport and Communications, Marius Skuodis, has appointed Simonas Bartkus as the new CEO of the state-owned airport operator, Lietuvos Oro Uostai (Lithuanian Airports, LTOU), as of 16 August 2023. LTOU’s previous CEO, Marius Gelzinis, resigned in June 2022. Bartkus has 10 years of management experience in the aviation and transport sectors. LTOU…
Latvia’s average level of consumer prices increased by 6.4% in July 2023, compared to the corresponding period in 2022, according to data from the Central Statistical Bureau, LSM reports. Consumer prices were mainly influenced by the rise in food and non-alcoholic beverage prices and of goods and services related to housing, as well as by…
Latvian ministries and other institutions have submitted proposals for priority budget measures worth EUR 1.983bn for 2024, according to the Ministry of Finance, LETA reports. Finance Minister Arvils Aseradens said that funding requests were EUR 250mn lower than in 2023. The largest requests were for teacher wages, health care, and defence. Other requests included covering…
The Estonian shipping group, Tallink Grupp, posted unaudited revenue of EUR 400.9mn in the first half of 2023, which was up 28.4% from EUR 312.2mn in the same period of 2022, GlobeNewswire reports. Six-month EBITDA amounted to EUR 95.6mn (EUR 17.7mn) and net profit to EUR 28.0mn (EUR 40.7mn). In the second quarter of 2023,…
Around 400 bicycles have been reported stolen in Estonia so far in 2023, ERR reports. Reported thefts in Harjumaa county number 300, which is 70% more than a year earlier. Kaido Atspol, detective at the East Harjumaa Police Department, said that most cases of bicycle theft took place in central Tallinn. Owners usually buy new…
A group of MPs from Latvia’s ruling New Unity party has proposed amendments that would introduce harsher penalties for exceeding speed limits in road traffic, Baltic News Network reports. Under the proposal, the fine for driving 60 km/h or more above the speed limit would rise from the current EUR 240-460 to EUR 720-960 and…