Lithuania’s central bank, the Bank of Lithuania, has called on Taiwan’s state-owned Bank of Taiwan (BOT) to provide as diverse banking services in Lithuania as possible, BNS reports. Earlier, business news outlet Verslo Zinios reported that BOT had obtained regulatory approval to open a representative office in Lithuania. Lukas Jakubonis, chief business development officer at…
Polish-owned fuel trading company Orlen Latvija remained the largest single taxpayer in Latvia in 2023, according to the State Revenue Service (VID), LSM reports. VID awarded 20 companies in 5 regions in the large, medium, small, and micro-enterprise categories for their labour tax contributions in 2023. The biggest taxpayers in the segment of large enterprises…
Electricity prices in Estonia will increase significantly following the planned decoupling from the Russian electricity grid in February 2025, Postimees reports. Currently, the rate for production and consumption stands at just EUR 0.04 per MWh. Estonia’s transmission system operator, Elering, has proposed raising the rate to as much as EUR 5.31 per MWh, largely due…
Lithuania’s GDP growth will amount to 2.4% in 2024 and 2.6% in 2025, according to the International Monetary Fund’s (IMF) latest forecast, BNS reports. The country’s economic growth will be driven by the growth of real wages, public investments, and low inflation, the IMF report states. Average annual inflation will reach 1.2% in 2024, the…
A strategic investor has shown interest in Latvia’s national air carrier, airBaltic, Transport Minister Kaspars Briskens revealed, LETA reports. He suggested that the investor could acquire a minority stake in airBaltic before the company’s possible IPO. Briskens refused to disclose the name of the potential investor. No talks are currently under way with Estonia or…
The construction price index in Estonia rose by 2.2% on year in the second quarter of 2024, according to data from Statistics Estonia, ERR reports. Compared to the first quarter of 2024, the index rose by 0.7%. The cost of labour rose by 1.3%, of machinery by 2.4%, and of building materials by 0.2% over…
The registration of candidates for elections to the Lithuanian parliament, the Seimas, ended on 22 July 2024, BNS reports. According to the Central Electoral Commission (VRK), 19 political parties nominated altogether 179 candidates. The list includes three new parties: The Union of Democrats for Lithuania (DSVL) of former prime minister Saulius Skvernelis, the Dawn of…
Latvia’s State Security Service (VDD) has conducted searches at two locations related to former MEP Tatjana Zdanoka (Tatyana Zhdanok) of the Latvian Russian Union (LKS), LETA reports. VDD confiscated data carriers, notes, and documents for further analysis. VDD confirmed that the searches were part of a criminal investigation into Zdanoka’s possible cooperation with Russian intelligence…
Ministers in Estonia’s new government led by Kristen Michal of the Estonian Reform Party have been sworn in before the country’s parliament, the Riigikogu, ERR reports. Reform has seven, the Social Democratic Party (SDE) four, and Estonia 200 three ministers in the new coalition. The cabinet of ministers includes seven men and seven women.