The Baltic States and Poland on December 15 blocked the adoption of new sanctions for Russia over the exemptions for grain and fertiliser exports, Lithuanian Foreign Minister Gabrielius Landsbergis reported. The exemptions proposed by Germany, France and the Netherlands could provide a loophole to circumvent sanctions, according to Landsbergis. “Half an hour ago, Lithuania and…
Meat producer HKScan will sell its Baltic subsidiaries to Estonia’s AS Maag Grupp for EUR 90 million, the company has announced. The transaction will likely close in the second half of 2023 and is subject to regulatory approvals in Estonia and Latvia. “The sale of the Baltic business will improve HKScan’s profitability and strengthen its…
On December 12, the European Commission and the Nordic Investment Bank signed the InvestEU guarantee agreement. The value of this agreement reaches EUR 114 million, as confirmed by the European Commission’s office in Latvia. This agreement will allow for attracting funding from the Nordic Investment Bank worth up to EUR 480 million for investments into…
The three Baltic countries agree on the need to raise defence spending to 3% of GDP. However, Lithuania, Latvia and Estonia plan to achieve the target at their own pace. “Each country individually will increase the defence investment toward 3% of GDP,” Latvian Prime Minister Krisjanis Karins told reporters after meeting with his Lithuanian and…
The average wage growth in Baltic States in the past ten years has been the most rapid among members states of the Organisation of Economic Cooperation and Development (OECD), according to results of the study by international financial technologies company Tipalti. Data indicates that between 2011 and 2021 the average wage in Latvia has increased…
Ekspress Grupp, an Estonian media group that owns the Delfi news websites in the Baltic countries, has acquired the Lrytas news website from Lithuania’s Lietuvos Rytas. The agreement on the acquisition of 100% of shares in Lrytas, a subsidiary of Lietuvos Rytas, was signed on December 9, Ekspress Grupp said in a press release. The…
On December 7, work on improving Lithuanian-Latvian gas interconnection was completed in Lithuania’s Pasvalys district, as confirmed by Lithuanian gas system operator Amber Grid. Amber Grid noted the project was completed ahead of schedule, and now it was possible to transport 90 GWh of gas using the pipeline, which was 30% more than was possible…