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BUSINESS

Sanctions begin to impact Baltics
Sanctions begin to impact Baltics
TALLINN - Estonia’s Minister of Agriculture Ivari Padar said that the Russian food import ban has hit producers of milk and pork and the fisheries industry the hardest, though the state has limited options at this time for supporting them, reports National Broadcasting. So far, only one agricultural firm has requested direct state aid - Rey Seakasvatus - the pig-husbandry farm. “The dairy sector is the riskiest one, if we speak about import restrictions,” said Minister Padar. “As for pork, the problem is a much older one, starting with the period two years ago when...  Full story...
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 Sep 03, 2014 - Baltics move ahead on Polish gas connection...
Baltics move ahead on Polish gas connection
RIGA - The Agency for the Cooperation of Energy Regulators (ACER) has made a decision on the distribution of costs among the countries that will participate in the construction of an alternative gas pipeline through Poland and Lithuania, stipulating that for Latvia this project will cost 29.4 million euros, reports Nozare.lv. The project is scheduled for finalization in 2019-2020, and accordi...
 Sep 03, 2014 - The geopolitics of asset management...
The geopolitics of asset management
Opportunities for the Baltics Most people, and even many finance professionals, think of the asset management industry as consisting of only investment managers and advisors. In reality, however, there are additional, so-called service providers that exercise different functions that make up the industry. One typically distinguishes the following five categories of the industry: the inves...
 Sep 03, 2014 - LNG models presented in Brussels...
LNG models presented in Brussels
TALLINN - Finnish energy company Gasum Oy and Estonian energy company AS Alexela Energia presented on Aug. 18 at the European Commission the alternative models of cooperation of the liquefied natural gas (LNG) import terminal to be built in the Gulf of Finland, reports Public Broadcasting. In February, Gasum and Alexela signed a memorandum at the request of the European Commission on additi...
 Sep 03, 2014 - Ask.fm sold to U.S. investors...
Ask.fm sold to U.S. investors
RIGA - The Latvian social network ‘Ask.fm’ has been bought by the owners of ‘Tinder’ and ‘Ask.com’ for an undisclosed fee, reports BBC. The site, where members answer questions posed by others, has been linked to teenage suicides in the UK and elsewhere and has been criticized for not doing enough to prevent cyber-bullying, said the BBC. IAC, the U.S. compa...
 Aug 06, 2014 - ‘Romance’ over for Riga travelers...
‘Romance’ over for Riga travelers
RIGA - From Aug. 7, the ferry ‘Romantika’ will no longer operate the Riga-Stockholm route; the ferry’s last trip from Riga to Stockholm was scheduled for Aug. 6, Tallink Latvija Sales and Marketing Director Baiba Muceniece said to Nozare.lv. The ferry ‘Isabelle’ will continue operations according to the schedule, which means that Tallink ferry trips from Riga to ...
 Aug 06, 2014 - Asia offers export potential...
Asia offers export potential
RIGA - The European Union at the end of June filed a formal complaint with the WTO against Russia over Moscow’s embargo of pork from the bloc, reports AFP. The move followed a failure to settle the issue in direct talks in April and May, and comes amid a raft of trade disputes between the two sides. In January, Russia banned imports of live pigs and pork from the EU after the discovery ...
 Jul 03, 2014 - Elering looks for power line funding...
Elering looks for power line funding
TALLINN - Estonia’s electric power operator Elering reported that in parallel to submitting an application for EU funding for a Tallinn-Riga power line, the company will begin raising funds on its own for construction of this line, as well as for renovating other lines connecting the grid with Latvia, reports National Broadcasting. From now on, the company will channel transmission capaci...
 Jul 03, 2014 - Specialist shortage limits IT growth...
Specialist shortage limits IT growth
RIGA - Latvia’s IT sector turnover increased by 20 percent last year, an indication of steady growth. Meanwhile, the largest problem in the sector is a lack of qualified IT specialists, director general of the Latvian Information and Communications Technology Association, Andris Melnudris, said in a discussion organized by the business portal Nozare.lv and Firmas.lv. “As compared to...



 Sep 03, 2014 - Ligi: Russia not reliable partner...
TALLINN - Estonian Finance Minister Jurgen Ligi stated that Russia is not a good business partner...
 Sep 03, 2014 - Fraud claims taint investment clima...
RIGA - If the Latvian government does not ensure an environment in which a bank can recover loans...
 Sep 03, 2014 - Employers underpaying staff, says ...
TALLINN - A survey by CV Keskus among more than 4,800 respondents has revealed that more than hal...
 Sep 03, 2014 - IT specialists in short supply...
VILNIUS - Every year over 1,000 students finish information technology (IT) studies in Lithuania;...
 Sep 03, 2014 - Estonian Air approves rework plan...
TALLINN - The Estonian national airline Estonian Air’s council approved on Aug. 19 the comp...
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