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Sunday 23.04.2017 | Name days: Jurģis, Juris, Georgs

Elvi and Aibe store networks form joint procurement group

Last week, two local Latvian store networks Elvi and Aibe commenced work on the creation of a joint company that would perform centralized procurements, as BNN was informed by representatives.

Estonian gas seller: Excise duty hike unconstitutional

Estonian natural gas importer and seller Eesti Gaas has addressed the country’s Chancellor of Justice insisting that the increase of excise duty passed in 2016 was not in line with the rules of the Estonian constitution.

Tallinn Airport summer schedule to contain 36 routes

Tallinn Airport has announced its summer schedule that will include direct flights to 36 destinations and take effect from mid-April to late May depending on the airline.

Pärnu property sold for building plywood plant

Finnish capital company Metsä Wood Eesti has bought 104,000 square metres of land with plans to construct a 50 million euro plywood factory that would employ 200 workers.

Programme: new TV3 and LNT owner will likely sell channels to someone else

The next owner of TV3 and LNT television channels, American Providence Equity Partners investment company, will likely sell these channels to someone else after some time, as concluded by De Facto programme of LTV.

European Regional Development Fund allocates 15 million euros for start-up ideas in Latvia

For the first time in Latvia, Altum development financial institution has announced a search for acceleration fund managers. These funds will allocate so-called smart money for the realization of different business ideas in their early stages of development. Businessmen will be able to receive up to EUR 250,000 to realize their ideas.

BNN summary of the week: 5G in Latvia, fight against Lembergs, foreign trade balance deficit

BNN offers a summary of this week’s topical news in a variety of categories: Change; Business; Fight; Decline and Growth.

Sadales tīkls: energy industry enjoys stable growth in Baltics

Although the company does not experience the lack of quality labour force, when announcing vacancies it becomes clear that population density in regions continues to decline, and this makes it harder to find young specialists for work in regions, said Andis Pinkulis, CEO of Sadales tīkls, in an interview to BNN.

Rimsevics: tax changes may increase lending volumes in Latvia

Lending volumes in Latvia may increase because of changes to the country’s tax system, says governor of the Bank of Latvia Ilmars Rimsevics.

Latvia’s export and import volume was the lowest in January

Latvia’s export and import volume this January was below what was noted in Lithuania and Estonia. The largest foreign trade balance deficit among Baltic States was noted in Estonia.

InnoEnergy business opens an office in Latvia

International business accelerator company InnoEnergy has opened an office in Latvia. This objective of this company is preparing new and innovative technologies developers for attraction of investments as part of InnoEnergy accelerator.

Bank of Latvia increases inflation outlook for 2017 to 2.7%

The Bank of Latvia has increased its inflation outlook for 2017 from 1.6% to 2.7%, as reported by the bank’s press-service.

Ventspils Freeport Authority announces procurement

Procurement has been announced for the construction of an access road in Ventspils, Talsu Street 200 and landscaping of nearby territories so that one of the land tenants can commence construction of their building there, as reported by Ventspils Freeport.

Estonian investors consider construction of pulp factory in Latvia

Investors that consider building a pulp factory worth EUR 1 billion in Estonia’s southern region allow for the possibility of getting permission for the same project in Latvia, because this process can take a long time in Estonia.

Estonia to reduce availability of plastic bags in shops

Having passed amendments to the Estonian «Packaging Law», the Riigikogu has adopted a plan to reduce the use of plastic bags in the Baltic country over the coming years.

Canadian ambassador: Latvia and Canada are closer than ever before thanks to CETA

«All Latvian exporting companies – those that already export goods to Canada and those that consider doing that – will benefit from the Comprehensive Economic and Trade Agreement,» says Foreign Affairs Ministry’s parliamentary secretary Zanda Kalnina-Lukasevica.

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