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BUSINESS

Lithuania one step closer to euro
Lithuania one step closer to euro
ALMOST THERE: Lithuania has met the requirements for joining the eurozone....
VILNIUS - European Union finance ministers gave Lithuania the green light to adopt the euro currency next year during talks in Luxembourg on June 20, reports DPA. “Lithuania has achieved a high degree of sustainable convergence with the euro area and, therefore, fulfils the conditions for adopting the euro as its currency,” the ministers said in a statement. The move, which must still be approved by EU leaders and reviewed by the European Parliament, expected in late July, paves the way for Lithuania to become the eurozone’s 19th member on Jan. 1. “This really is...  Full story...
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 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...
 Jul 03, 2014 - Funds available for environment initiatives...
Funds available for environment initiatives
RIGA - The European Commission (EC) has launched the first call for proposals under the ‘LIFE’ funding program for projects dedicated to the environment in the amount of 239 million euros, reports LETA. According to EC, the ‘LIFE’ sub-program for environmental action will provide 238.8 million euros in 2014 to develop and implement innovative ways to respond to environme...
 Jul 03, 2014 - Lithuania takes lead in China business...
Lithuania takes lead in China business
RIGA - Arijandas Sliupas, deputy minister of transport and communications in Lithuania, was on an official visit to the People’s Republic of China last month, where his mission was to highlight that “Lithuania seeks to establish a stable, constructive and mutually beneficial relationship with China,” reports ELTA. He added that, “Therefore, the newly opened representativ...
 Jul 03, 2014 - Progress slow on Finnish gas connection...
Progress slow on Finnish gas connection
TALLINN - Finnish gas company Gasum is in no hurry to break the Russian gas monopoly, as it considers it possible to apply for European funding for a regional LNG terminal up until the year 2019, reports Postimees. “We do not need to rush with the agreement by August 19, since the financing round lasts till 2019 and by then we will certainly manage to be ready,” said Gasum’s m...
 Jun 04, 2014 - Development plan targets Estonia’s rural communiti...
Development plan targets Estonia’s rural communities
TALLINN - The Estonian government approved on May 22 the rural life development plan for 2014-2020,one that has more than one billion euros allocated in the budget and sets the goal of raising the competitiveness of Estonian agriculture and food production and developing business in rural areas, reports Postimees Online. “The productivity of Estonian agriculture and the food industry ...
 Jun 04, 2014 - Pressure rises for Gazprom to make deal...
Pressure rises for Gazprom to make deal
VILNIUS - Lithuanian Prime Minister Algirdas Butkevicius says that once the state takes over control of gas supply and transmission companies Lietuvos Dujos and Amber Grid, it will be possible to implement strategic decisions faster, reports ELTA. In a May 22 interview with Ziniu Radijas radio, the prime minister said that the leadership of the German company E.ON Ruhrgas International made a...
 May 01, 2014 - Lithuania establishes monopoly over waste disposal...
Lithuania establishes monopoly over waste disposal industry
VILNIUS - Reenergy, a company managed by the Icor concern and which had started construction of a waste incineration facility in Vilnius, has appealed to the Secretariat-General of the European Commission due to what it claims as Lithuania’s violation of EU legislation, reports ELTA. The company was extinguished from the waste incineration market after the Lithuanian government decided ...



 Jul 03, 2014 - Sanctions cut into Estonia transpor...
TALLINN - Estonia’s transport industry, a key contributor to the Baltic economy’s con...
 Jul 03, 2014 - Israeli investors announce high tec...
VILNIUS - Lithuanian President Dalia Grybauskaite met with a business delegation from Israel this...
 Jul 03, 2014 - PKC Group likes Lithuania for produ...
VILNIUS - Finnish PKC Group opened a new manufacturing unit in the beginning of June in Lithuania...
 Jul 03, 2014 - No bidders in Snoras building aucti...
RIGA - The first two auctions held to sell the property at 23 Pils Street in Riga’s Old Tow...
 Jul 03, 2014 - Lats transition period now over...
RIGA - Latvia’s transition to the euro ran “incredibly smoothly and rapidly,” P...
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