Poland’s Bank Polska Kasa Opieki (Bank Pekao) plans to open a branch in Lithuania, according to Gediminas Simkus, head of the Bank of Lithuania, BNS reports. Speaking in an interview with 15min, Simkus said that Bank Pekao’s representatives visited Lithuania in December 2023. He was optimistic about the bank setting up operations in Lithuania. Sources…
Lithuania is exploring the possibility of acquiring a stake in Latvia’s national air carrier, Air Baltic Corporation (airBaltic), according to Transport Minister Marius Skuodis, BNS reports. Skuodis has discussed the issue with his Latvian counterpart, Kaspars Briskens. Skuodis suggested that some airBaltic aircraft could be based in Lithuania and that airBaltic could become a joint…
Germany’s Deutsche Bank is considering opening a service centre in Lithuania, Elijus Civilis, head of Lithuania’s state-run investment promotion agency, Invest Lithuania, confirmed, BNS reports. Civilis said that negotiations with Deutsche Bank were ongoing and that the bank was evaluating various options for possible operations in Lithuania. Deutsche Bank has not commented on its plans….
The number of new businesses registered in Latvia totalled 8,772 in 2023, according to data from enterprise database Lursoft, LETA reports. Meanwhile, the number of businesses liquidated amounted 7,844 in 2023, which was the lowest number since 2015. In the previous seven years, the number of liquidated enterprises exceeded the number of new businesses. Over…
Ukraine’s National Agency on Corruption Prevention (NAZK) has added Lithuanian fish processor Viciunai Group to its list of “International Sponsors of War,” BNS reports. NAZK stated that Viciunai Group has continued production and hiring at its plant in Russia’s Kaliningrad region even after announcing that it was exiting Russia. Viciunai Group declined to comment on…
The EU should ban the import and transit of grain from Russia and Belarus, Latvia’s Transport Minister Kaspars Briskens stated, LSM reports. He urged the Baltic States to adopt a joint position on the issue, whereas Latvia’s state-owned rail operator, LDz Cargo, insisted on the need for a common EU stance. When Estonia’s state-owned rail…
Retailers in Estonia expect declining sales in the first half of 2024 amid lower consumer confidence, ERR reports. Many consumers plan to go shopping in neighbouring countries due to the rise in the VAT rate from 20% to 22% as of 1 January 2024, according to a Norstat poll for Citadele bank, BNS reports. The…
Passenger rail service from Estonia’s second-largest city, Tartu, to the Latvian capital, Riga, could begin in the second half of 2025, according to Estonian passenger rail operator Elron, LETA reports. Latvia’s passenger train operator, Pasazieru Vilciens (Vivi), has proposed opening a rail link from Riga to Tartu in spring 2025. Latvia’s Transport Minister, Kaspars Briskens,…
Estonia’s Ministry of Justice is considering granting the Consumer Protection and Technical Regulatory Authority (TTJA) the power to order ISPs to block websites involved in copyright infringement, ERR reports. The ministry argues that existing legal means are insufficient for protecting copyright on digital platforms. The proposed solution involves DNS and IP-based blocking, allowing ISPs to…