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Highlights
France's Auchan planning to expand to Estonia
BC, Tallinn | July 19, 2019
The French retail chain Auchan has allegedly expressed interest in the Baltic market and plans to expand its operation to Estonia.
CEO: Tallinn Airport in talks with 25-30 airlines for more direct flights
ERR News | July 19, 2019
Riivo Tuvike, the new CEO of Tallinn Airport, told daily Postimees that the company is in negotiations with 25-30 airlines with the goal of increasing its network of direct flights.
Transferwise hires former Netflix CFO
ERR News | July 18, 2019
Estonian-founded and U.K.-based money transfer company Transferwise has appointed former Netflix CFO David Wells and Adyen CFO Ingo Uytdehaage members of its board of directors.
Amazon under EU antitrust fire over use of merchant data
Reuters | July 17, 2019
Amazon became the target of an antitrust investigation by the European Union on Wednesday over its use of merchants’ data, underlining regulators’ increasing focus on how tech companies exploit customer information.
Swedbank Slashes Dividend as Baltic Dirty-Money Probes Drag On
Bloomberg | July 17, 2019
Swedbank AB acknowledged it will no longer be able to live up to its goal of paying out one of the highest dividend ratios in the Nordic finance industry.
Estonia: EUR 3.5 mln solar power plant to start operating in Parnu
BC, Tallinn | July 17, 2019
Estonia's largest solar power plant will be opened in the southwestern city of Parnu on Wednesday, the construction of which cost altogether 3.5 mln euros.
European economy in summer 2019: consecutive growth
BC | July 16, 2019
European Commission publishes four economic forecasts each year; in winter and summer they cover only annual/quarterly GDP and inflation indices for all EU states and the euro area. This summer forecast reflects a set of technical assumptions concerning exchange rates, interest rates and commodity prices. Next economic forecast will cover autumn economic forecast in November 2019.
The biggest business campus in Baltics is becoming the City of the Future
TBT | July 16, 2019
At the beginning of June, Tallinn University of Technology (TalTech), the City of Tallinn and the developers of Ülemiste City, launched the innovative City of the Future Professorship.
ECB Seat to Be Filled in Open Contest If Latvian Leader Prevails
Bloomberg | July 19, 2019
The next member of the European Central Bank’s Governing Council from Latvia will be selected through an open competition if Latvian Prime Minister Krisjanis Karins gets his way.
Youtube launches its YouTube Music streaming service in Baltic countries
BC, Riga| July 17, 2019
Starting Wednesday, video sharing platform YouTube will start offering its music streaming service YouTube Music as well as its Premium service in Baltic countries.
airBaltic claims best-ever month in June
LSM.LV | July 17, 2019
Latvian airline airBaltic said July 17 it had enjoyed its best-ever month in June, in terms of the number of passengers carried.
Regulatory framework for purchasing and selling cash foreign currencies has been improved
TBT | July 17, 2019
The Council of Latvijas Banka has adopted several legal acts today, thereby improving the regulatory framework of the sector of purchasing and selling cash foreign currencies.
Krisjanis Karins: Latvia Is Primed For Far-Sighted Investors
Forbes | July 15, 2019
You’ll be surprised and—from an investment viewpoint—delighted to learn what extraordinary opportunities there are in Latvia, a small, formerly communist northern European state that economically is punching above its weight.
Rigensis bank fined €1m for anti-money laundering failures
LSM.LT | July 15, 2019
Latvia's financial regulator, the Financial and Capital Market Commission (FKTK) on July 15 announced it was slapping Rigensis Bank with a €1 million fine "for violations of the law on money laundering and the prevention of terrorism and terrorist proliferation financing."
Defense Ministry has approached 12 countries regarding armored vehicles procurement
TBT | July 14, 2019
RIGA - The Defense Ministry has approached 12 countries as potential suppliers of armored vehicles to the Latvian military as part of a major procurement, LETA was told at the ministry.
Merko to build international college in Latvia for EUR 10.1 million
TBT | July 13, 2019
IA Merks, part of the listed Estonian construction group Merko, has entered into a construction contract for the construction of an international college in Latvia, Pinki, Babite county.
Lithuania's M.M.M. Projektai plans EUR 200 mln investment in Riga - media
BC, Vilnius | July 19, 2019
M.M.M. Projektai, a real estate company owned by Lithuanian businessman Nerijus Numavicius, plans to invest 200 million euros in Riga over the next few years.
UK startup Velocity Black setting up technology center in Vilnius
BC, Vilnius | July 18, 2019
UK-based startup Velocity Black is setting up its first technology center in Vilnius, which will create new jobs and partner with local universities.
FL Technics implementing next generation mechanics training using VR
TBT | July 18, 2019
FL Technics, a global provider of integrated aircraft maintenance, repair and overhaul service, which is part of Avia Solutions Group, has begun implementing VR modules for the basic training of aviation mechanics.
TBT | July 17, 2019
This July, Lithuanian Airports are commemorating five years since consolidation of Vilnius, Kaunas and Palanga airports. After ending the stage of faulty internal competition and becoming an airport network, offering attractive terms and conditions of cooperation for air carriers, the Company has also improved its results in aviation performance.
A necessary rise: Lithuania bolsters its cybersecurity, catching the attention of other nations
Defense News | July 16, 2019
Lithuania is rising to the top of those countries taking charge of their cybersecurity, and it’s development in cyberspace may benefit the rest of Europe and the United States.
GovTech Lab: Join the Bank of Lithuania to create a RegTech solution
Bank of Lithuania | July 16, 2019
Launched at the beginning of July, the GovTech Lab starts its operation: seeking to reduce the administrative burden, the Bank of Lithuania is looking for an innovative solution that would allow obtaining the necessary data and automatically generating respective reports.
Medical Imaging Company Oxipit raises $1.7M Seed Round to bring AI into Clinical Radiology Practice
Startup Lithuania | July 16, 2019
Oxipit, the authors of ChestEye AI-powered radiology software suite is announcing today the close of a Seed funding round for $1.7 million co-led by Practica Capital, Koinvesticinis Fondas (Co-Investment Fund) and angel investors.
The Baltic American Chamber of Commerce (BACC) is a membership based organization for business facilitation between the U.S. and the Baltic States (Estonia, Latvia and Lithuania).
Member Briefings
DOJ Announcement Underscores Importance of Robust Antitrust Compliance Policy. Hodgson Russ LLP | July 16, 2019
Labor and Employment Issues Facing the Healthcare Industry. Littler | July 11, 2019 By McKinley Anderson et al. Download Pdf
2019 US Tax Deadlines for 2018 calendar year returns. Jason Mathew from USTAXFS provides a list of 2019 US tax deadlines to note for 2018 tax returns.
Top 5 2018 US Tax Return Changes. By Patricia Lydon from USTAXFS. This is a brief summary of some 2018 US tax return changes that may affect your tax return.
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