As recession-hit Estonia seeks to boost defence funding with plans to raise value-added, income and corporate taxes, Lithuanian businesses and economists say Lithuania has a chance to increase its competitive position in the region, if it maintains the stability of its tax system. Lithuanian Finance Minister Gintare Skaiste believes that Estonia’s tax changes will have…
The Latvian national airBaltic airline promises to continue its expansion in Vilnius, increase its fleet of aircraft stationed there, as well as the number of destination offered there, as reported by the airBaltic CEO Martin Gauss. “We are expanding into Vilnius. Every year we increase the number of destinations from Vilnius. Therefore, we continue to…
As Latvia is moving to ban Russian instructions in ATMs, Lithuania is not considering similar measures. Banks say the Russian-language option is used by about 8% of their clients. The Latvian parliament is one vote away from banning instructions in Russian in the country’s ATMs. If the motion comes through, users will only be able…
Riga, which was previously been the leader among Baltic capital cities when it comes to the number of nights guests to the city spend there. This means Riga has lost its No. 1 position and is now No. 2, the President of the Association of Hotels and Restaurants of Latvia (LVRA) Andris Kalnins has said.…
A high-level visit of representatives of the Baltic States, initiated and organised jointly by the Ministry of Health of Ukraine, the WHO Office in Ukraine, Estonia, Latvia and Lithuania, has begun in Ukraine. The purpose of the delegation’s visit is to strengthen cooperation in the healthcare sector, study the Ukrainian experience of countering and responding…
When electricity prices have reached several hundred euros per megawatt-hour (MWh) already, the Baltic States’ power plants – especially gas-fired plants – should be online as well, former Eesti Energia CEO and former Nord Pool Baltic and Russian region chief Hando Sutter has said. Commenting on the price of electricity, Sutter acknowledged that it was…
Lithuania’s economy is bubbling promisingly, Latvia’s is stagnating and Estonia’s is struggling in a prolonged downturn. Both major Lithuanian commercial banks, Swedbank and SEB, have ticked up Lithuania’s forecast for the year, boosting confidence that the economy is on the right track. Swedbank is projecting a GDP increase of 2.2% and SEB is predicting a…