BaltCap Growth Fund (BGF) has signed the shareholder agreement, becoming a significant shareholder in KOOL Latvia, with an approximate 30% stake. In return, KOOL Latvia, a newly developed local petrol and convenience store chain, will obtain higher growth capital, enabling the company to accelerate further expansion, a press release from BaltCap states. […]
Changes in Baltic region‘s real estate field are happening – international real estate consulting company Newsec and Baltic investment banking company Redgate Capital signed a partnership agreement to offer real estate services to clients in Estonia. Redgate Capital‘s real estate advisory team will now operate under the Newsec trademark name in Estonia, a Newsec press release states. […]
Germany’s retail giant Rewe has increased its stake in Palink, the owner of Lithuania’s largest supermarket chain Iki from 55.58 percent to 93.75 percent, Palink said on Wednesday. […]
The Soprano ice cream shop chain, which has operated in Lithuania for 18 years already, has finished its first seed funding round (A round) and plans expansion into Europe. The network, which is comprised of seven ice cream shops, saw investment by Antanas Guoga and entrepreneur Vytenis Mažiulis with both bringing equal investment. Mažiulis will also take up the Director position of UAB Ledai enterprise, which controls the Soprano brand. […]
Lithuania’s Ministry of Environment wants to balance the environmental policy with the newly-proposed logging restrictions, Environment Minister Kęstutis Navickas says. […]
Lithuania’s parliament will decide whether the state should write down around 100 million euros in compulsory health insurance contributions unpaid by emigrants. If lawmakers back such a proposal, these contributions will no longer be calculated for and recovered from people who left Lithuania. […]
Lithuanian airports and road infrastructure are bursting and need upgrading, Transport Minister Rokas Masiulis says, adding that the upgrading of Vilnius Airport is the minimum task the state must complete. […]
Estonia’s SK ID Solutions has confirmed that its Mobile-ID service is back up and running in Lithuania after a technical problem was fixed. […]
Preparing for a mass rollout of smart metering in Lithuania, JSC Energijos Skirstymo Operatorius (ESO) has started the active testing of NB-IoT (Narrowband Internet of Things) technology. The pilot project aims to evaluate if meter data collection is possible by employing this technology and if its penetration in practice is higher compared to that of traditional communications technologies and sufficient to satisfy the needs of ESO’s business. Attempts are being made to identify whether this technology is sufficient for equipment control, maintenance, replacement and updating of software, a press release from ESO states. […]
Foreign companies get 30 percent of Lithuania’s defense budget, and 70 percent return to Lithuanian economy, according to National Defense Minister Raimundas Karoblis who introduced lawmakers last week to national defense funding figures for the next year. […]
As the European Commission proposes cutting cohesion support to Lithuania by almost a quarter as of 2020, InvestEU, a fund being set up by the EU, might become a financial alternative after it will replace the European Fund for Strategic Investment (EFSI), also called the Juncker Plan, which has operated since 2015. […]
There’s a wish to demolish the old arrivals terminal at Vilnius Airport during its future reconstruction, Lithuanian Transport Minister Rokas Masiulis says. […]
Lithuanian President Dalia Grybauskaitė is leaving for Shanghai on Friday and pledges to seek political support for opening up this huge local market for Lithuanian products. […]
Lithuania rose two notches to its highest-ever 14th position in the World Bank‘s latest ranking of 190 economies on the ease of doing business, up from number 16 last year. […]
Lithuania’s central banker says he sees no clear signs of an upcoming new economic crisis but warns about slowing growth. […]
The Bank of Lithuania could have tightened supervision rules for the banking sector before the last crisis but failed to do so, Vitas Vasiliauskas, chairman of the Bank of Lithuania, says. […]
Lithuania’s public funding for road construction and maintenance is set to grow by 60 million euros next year, but road builders do not expect to bag more contracts, saying the amount of work will remain unchanged from the current levels or will even decrease due to rising prices for materials and general inflation. […]
Lithuania’s leisure carrier Small Planet Airlines, which has filed for restructuring, has a month to submit its updated business plan to the country’s Civil Aviation Administration (CAA). […]
The Lithuanian seaport of Klaipėda last night lifted restrictions on ship traffic that had been in place since Tuesday due to strong winds. […]
The love for food was the recurring theme for 5 days at SIAL in Paris, one of the largest in the world fairs that closes its doors on Thursday. 39 Lithuanian Food Exporters have a stand on SIAL, a gigantic biannual food fair, the largest in France, and a meeting place for more than 180,000 visiting 7200 companies from 119 countries on 250,000 m² of exhibition space (25 times Litexpo!). […]
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