Events, data and analysis from the Baltic economies
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Nordecon group company Embach Ehitus has signed a €5.6 million contract with the Estonian University of Life Sciences for the reconstruction of part of its academic complex in Tartu. The contract covers the design and reconstruction of blocks…
Lithuanian transmission system operator Litgrid has signed an €8.97 million contract with TETAS to reconstruct the 110 kV switchyard at the Mažeikiai power plant substation. The substation is a key part of the local electricity system. It supplies…
Lithuania’s Competition Council has cleared Prosperus Retail Property Fund to acquire the companies controlling the Ozas shopping and entertainment centre in Vilnius. The transaction values Ozas at €200 million. Prosperus signed the acquisition agreement with NEPI Rockcastle in…
airBaltic says planned changes under its new business model could affect around 500–700 positions across its bases in Riga, Vilnius and Tallinn. The airline currently employs around 3,000 people in the Baltic states. The indicated range therefore corresponds…
Estonia led August growth, but Lithuania still leads the accumulated rise The August retail figures produce a simple Baltic ranking. Real retail sales volumes were 6% higher year on year in Estonia, 3.7% in Lithuania and 3.5% in…
Photo5 October 2026 · Estonia Estonian industrial group Viru Keemia Grupp has pushed the investment decision for its planned bioproducts complex in Lüganuse to the first quarter of 2028 as it continues to search for an investor and…
5 October 2026 · Baltic Latvian alcoholic-beverage producer Amber Latvijas balzams has moved production of its Rīgas šampanietis sparkling wine from Latvia to Lithuania as the company restructures operations amid falling sales and financial pressure. Latvijas Radio reported…
The Baltics entered October with two economic stories running in parallel. Private and EU-backed investment continues to add industrial and energy capacity, while governments face a structurally heavier bill for defence and infrastructure. Debt is not yet a…
Lithuanian space technology company Blackswan Space has raised €2.5 million in its second investment round to expand sales in the United States and accelerate the commercialisation of its autonomous spacecraft navigation technology. The round was led by Iron…
Lithuanian food producer Mantinga Group is advancing plans for a new chilled-food factory near Marijampolė, with the project now in the design and environmental assessment stage. The planned production building would be constructed at Šunskų kelio 1 in…
Finnish fast-food chain Hesburger has opened a new drive-through restaurant at Satekles iela 3 in central Riga, investing more than €2.1 million in the new building and creating 20 jobs. The three-storey restaurant has a total area of…
Latvia’s NorSAF and UK clean-technology company Nova Pangaea Technologies have signed a memorandum of understanding to develop an advanced ethanol production plant in Latvia. The planned plant would use locally sourced wood waste to produce second-generation ethanol using…
BLRT Grupp has opened a new €14 million industrial foundry in Kohila, around 35 kilometres south of Tallinn, expanding the group’s ability to produce larger and heavier cast components for Nordic industrial customers. The factory was built by…
Latvia-headquartered Eleving Group has priced a new €200 million senior secured bond issue at par with a fixed 9% annual coupon, with investor demand close to 1.5 times the amount offered. The size of the transaction is substantial,…
Lithuania’s battery build-out has reached the point where the number of new projects is no longer the main story. A market for what those batteries can actually do for the power system is beginning to take shape. On…
Lithuania’s mass withdrawal from the second pension pillar has revived familiar concerns about financial literacy, short-term consumption and inadequate retirement savings. SEB’s latest pension study describes the first half of 2026 as a financial-literacy “exam” and reports that…
PhotoLatvijas Banka has granted Atrya Technologies SIA a licence to provide crypto-asset services under the EU’s Markets in Crypto-Assets Regulation, or MiCA. The licence allows the Riga-registered company to provide custody and administration of crypto-assets for clients and…
The European Commission has paid €135 million to Estonia under the EU Recovery and Resilience Facility after the country completed the milestones and targets linked to the payment request. The funding covers projects including the new Viljandi TERVIKUM…
Construction has started on a Leopard 2A8 tank assembly and repair plant in the Kaunas Free Economic Zone, with a symbolic time capsule laid at the site on 1 October. Around €50 million is earmarked for the project,…
Estonian real estate investment and development company Capital Mill has acquired three shopping centres in Riga, expanding its portfolio in the Latvian capital.The acquisition includes Dole and shopping centres at Stirnu iela 26 and Nīcgales iela 2. Together,…