If the full Rail Baltica line is not completed until 2030, financial sanctions will be imposed on all three participating Baltic States – Latvia, Lithuania and Estonia – according to discussions this week in Estonia’s Anti-Corruption Committee, as reported by Estonian public broadcaster ERR. Latvia’s Ministry of Transport confirmed this information. Amid rising concerns that…
The mobile network operator “Latvijas Mobilais Telefons” (LMT) will become the distributor of South Korean technology company Samsung’s tactical smart devices in the Baltic States, LMT representatives have announced. This week, in collaboration with Samsung and representatibaves from the defence, interior and justice sectors, LMT presented a tactical smart device-a smartphone adapted for military and…
The Latvian government decided this week that the Ministry of Climate and Energy (KEM) would evaluate cooperation opportunities with Estonia regarding the development of nuclear energy regulations and the construction of a nuclear power plant. On May 6, Latvia’s Cabinet of Ministers reviewed a report drawn up by the KEM regarding nuclear energy development opportunities…
Foreign leaders’ requests to use Estonian airspace to attend Russia’s May 9 celebrations were “out of the question”, Minister of Foreign Affairs Margus Tsahkna (Eesti 200) said on May 7, following media reports the Baltic States had denied requests from visiting dignitaries. On May 9, dozens of foreign leaders will attend a ceremony to mark…
The European Central Bank has fined SEB’s Baltic operations a total of EUR 1.24 million for failing to adequately address deficiencies in credit risk assessment practices, including a EUR 490,000 penalty for the bank’s Lithuanian branch. According to the ECB, internal models used by SEB banks in Estonia, Latvia and Lithuania for calculating the Margin…
The real estate market in Latvia has picked up, and Estonian developers are taking the lead in many new projects. While construction costs in Latvia are similar to those seen in Estonia, land in Riga is significantly cheaper, and planning procedures often take less time. Ongoing and planned real estate developments in Latvia come to…
Lithuania, along with Latvia, Estonia and Poland, plans to ask the European Commission to delay regulations set to “dramatically” raise the cost of fossil fuel-based fuels starting in 2028, Prime Minister Gintautas Paluckas has reported. “We’re talking with the Baltic prime ministers, and Poland has also expressed interest and asked the European Commission to postpone…