Lithuania plans to complete the construction of a National Concert Hall in Vilnius in 2030, the capital city’s mayor, Valdas Benkunskas, announced, BNS reports. Benkunskas expects a contract on the project to be signed in spring 2024. The Ministry of Culture estimated that the total cost of the project will amount to around EUR 121mn….
The European Commission (EC) is not considering paying subsidies to cover the cost of transporting Ukrainian grain through Baltic ports, EC Vice-President Valdis Dombrovskis stated. Speaking in an interview with BNS, Dombrovskis said that the EC may provide financing for removing administrative or infrastructure bottlenecks, however. Also, the EC supported Lithuania’s proposal to move customs,…
The Lithuanian government seeks to have more direct flights to Germany, BNS reports. Defence Minister Arvydas Anusauskas said that the more frequent flight connections would help German troops stationed in Lithuania. Also, Lithuania plans to open kindergartens and schools for the children of German soldiers, Anusauskas added. Lithuania’s defence chief, General Valdemaras Rupsys, said that…
Apartment rental prices in Lithuania are 20% higher than before Russia’s full-scale invasion of Ukraine, LRT reports. In Vilnius, the rental price of a one-bedroom apartment is around EUR 1,000 or more per month in the city centre, EUR 700-800 in new buildings, and EUR 500 in old buildings. In Kaunas, rents are around EUR…
Exports of goods from Latvia to countries that continue to trade with Russia have increased rapidly, LSM reports. At the same time as exports to Russia have come to a halt due to sanctions, exports to countries of the Eurasian Economic Union have risen sharply. Exports of mechanical and electrical equipment to Russia have fallen…
Many Estonian companies continue doing business with Russia, ERR reports. Altogether 500-600 Estonian businesses still trade goods with Russia. The total value of goods exported from Estonia to Russia has not changed since Russia’s full-scale invasion of Ukraine in 2022, when it amounted to EUR 50-70mn per month. This is partly due to the rise…
Turkish-owned Liepaja Steel has abandoned plans to resume production at its steel plant in the Latvian city of Liepaja, LETA reports. The company will dismantle the plant’s steel melting furnace and move the machinery to Türkiye. Liepaja Steel failed to reach agreement with the Liepaja city council and the Liepaja Special Economic Zone (Liepajas SEZ)…
Latvia’s state-owned energy holding, Latvenergo, posted all-time record revenue and profit in the first half of 2023, LSM reports. The group’s six-month turnover amounted to over EUR 1.1bn, which was up 56% from the same period of 2022. The group’s profit rose by 57% to EUR 222.5mn. Latvenergo attributed the record performance to the spring…
Commercial banks and other credit institutions in Lithuania have paid EUR 56mn in temporary solidarity tax for the second quarter of 2023, according to the Finance Ministry’s preliminary data, BNS reports. Altogether 18 credit institutions made the first quarterly advance payment by the deadline of 31 August 2023. Swedbank paid EUR 25mn, followed by SEB…