There is a shortage of money for Rail Baltica. However, excluding Riga from it would mean giving money to Estonia, said Mayor of Riga Vilnis Kirsis in an interview to Latvijas Radio. During this interview, he agreed the municipality was concerned that if no money were found, Riga might end up with numerous unfinished construction…
Credit rating agency Standard & Poor’s (S&P) has downgraded the credit ratings of Estonia, and also of Latvia Lithuania, as a result of threats associated with the Russian Federation. S&P downgraded Estonia’s long-term credit rating from “AA-” to “A+”, while Latvia and Lithuania’s ratings, previously each at “A+”, were also downgraded, to “A” in both…
Catherine Trautmann, who coordinates the Rail Baltic project at the European Commission, hopes that the first stage of railway construction will turn out to be cheaper than the estimated EUR 15 billion. At the same time, she stressed in an interview with ERR that the Baltic countries could not just wait for help from the…
41% of Latvian residents do not make savings for retirement, reports Luminor Bank with reference to results of a recent survey. Head of Asset Management and Pensions Department of Luminor Bank Atis Krumins comments that the largest portion of Latvian residents who do not make savings for retirement are aged between 18 and 39 years.…
The work to disconnect Baltic power grids from the Russia-controlled BRELL network is going as planned, Latvian Minister of Energy and Climate Kaspars Melnis has said in an interview to LTV programme Rita panorama. “Everything is going according to the schedule and there are no signs of any problems or delays,” said the minister. However,…
Regional countries have agreed to create a “drone wall” to protect their external borders using unmanned aerial vehicles, Lithuanian Interior Minister Agne Bilotaite has said. She made the remarks after a meeting on May 24 in Latvia with her counterparts from the other two Baltic States, Poland, Finland and Norway. “This is a completely new…
Although the three Baltic countries are trying to follow the increasingly loud demand from the European Commission to initially focus solely on the main route of Rail Baltica, the project’s budget is rising to over EUR 15 billion. It could be cheaper, but this would require passengers to transfer trains to travel to Riga, and…