The European Commission (EC) has improved Lithuanian GDP growth forecast from 2.3% to 2.4% for 2012, which would be the second highest growth in Europe, following Poland. Latvian GDP growth forecast improved from 2.1% to 2.2%, while Estonias GDP forecast for 2012 was improved from 1.2% to 1.6%. Total EU and euro zone GDP growth forecasts remained unchanged. Greece, Spain, Italy had their GDP forecasts revised downwards, while Germany, the UK, France saw upwards revisions for 2012 GDP growth forecast. Bank of Lithuania currently forecasts 3.0% y/y growth in GDP in 2012, Ministry of Finance expect 2.5% y/y growth, and IMF forecasts 2.0% y/y growth. |
Estonian national airline Estonian Air recorded net loss of EUR 49.2mn in 2012, up from net loss of EUR 17.3mn in 2011. Operating loss amounted to EUR 35.8mn in 2012. Revenues of the company ... more
Lithuanian flour manufacturer Malsena announced that it has acquired Latvian flour manufacturer Rigas Dzirnavieks. The company indicates that with the acquisition it will become the largest flour ... more
Estonian national airline Estonian Air announced that it agreed to pay penalties for returning two excess Embraer E190 aircrafts to the manufacturer. The company has started restructuring and ... more