The Lithuanian government has allocated EUR 276mn from borrowed funds for military mobility and infrastructure projects in 2023, BNS reports. Finance Minister Gintare Skaiste said that the Defence Ministry would invest EUR 148mn and the Ministry of Transport and Communications another EUR 128mn in the first year of the investment programme. Total investments in military…
Canada’s new defence attaché to Lithuania, Colonel Robert Foster, was accredited at the Lithuanian Defence Ministry on 26 July 2023, BNS reported. Prior to his appointment, Foster served as Canada’s defence attaché in Ukraine for the past four years. Lithuania’s Defence Minister, Arvydas Anusauskas, expressed hope for greater military cooperation with Canada, which has deployed…
The foreign ministers of the three Baltic States have sent a letter to the International Olympic Committee (IOC), expressing concern about recommendations to allow athletes from Russia and Belarus to compete at the 2024 Olympic Games in Paris under a neutral flag, BNS reports. In their joint letter to IOC president Thomas Bach, the ministers…
A group of MPs from Latvia’s ruling New Unity party has proposed amendments that would introduce harsher penalties for exceeding speed limits in road traffic, Baltic News Network reports. Under the proposal, the fine for driving 60 km/h or more above the speed limit would rise from the current EUR 240-460 to EUR 720-960 and…
Latvia’s State Revenue Service (VID) has published a list of the country’s 17 largest corporate taxpayers, Baltic News Network reports. VID highlighted the largest taxpayers in the large, medium, and small business segments in Latvia’s five regions. The country’s biggest taxpayer in 2022 was Polish-owned fuel trader Orlen Latvija, which paid 278.95mn in taxes. In…
Latvia has currently around 50,000 unemployed people, which is an all-time low, according to data from the State Employment Agency (NVA), LETA reports. The country’s unemployment rate now stands at 5.6%, which is down from 6.3% in the beginning of 2023. Evita Simsone, director of NVA, noted that the small number of unemployed created problems…
Latvian data centre operator DEAC and Lithuania’s Data Logistics Center (DLC) have obtained a ten-year loan of EUR 30mn from SEB Bank, The Baltic Times reports. The companies will use the funds to further expand their telecommunication infrastructure. DEAC will build a third data centre in Riga, while DLC will expand its data centres in…
Lithuania’s national startup ecosystem facilitator, Startup Lithuania, will host Startup Fair 2023 in Vilnius on 7 September 2023, Startup Lithuania reports. More international investors are expected to attend the event. In total, over 60 speakers are expected to give presentations and participate in the discussions. Also, 40-50 startups will compete for participation in the acceleration…
The Estonian developer of autonomous vehicles, Clevon, plans to delist its shares from the Nasdaq First North stock exchange without taking over the shares of the company’s minority shareholders, ERR reports. Earlier, the loss-making company announced that it would delist and buy out its minority shareholders. However, Clevon has failed to find an investor to…