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…
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…
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…
Lithuanian President Gitanas Nauseda has suggested that he does not want to see Foreign Minister Gabrielius Landsbergis appointed to the European Commission (EC), BNS reports. Nauseda argued that Lithuania should seek an economic portfolio rather than a foreign policy one in the new commission, stressing that economic portfolios were equally important. He pointed out that…
US presence in Europe and the Baltic region is the best deterrent against Russia, contributing to stability in the whole region, Lithuanian President Gitanas Nauseda stated, BNS reports. Speaking at the European Political Community summit in the UK, Nauseda said that if former US president Donald Trump won the US presidential elections in November 2024,…
Taiwan’s largest commercial bank, state-owned Bank of Taiwan, plans to open a representative office in Lithuania, BNS reports, citing business news website Verslo Zinios. The Financial Supervisory Commission of Taiwan has approved the bank’s application to open an office in Lithuania. The Bank of Taiwan said that the office would help expand business operations in…
Latvia’s Office of Citizenship and Migration Affairs (PMLP) will inform altogether 4,650 Russian citizens on steps they need to take to be able to stay in Latvia after changes to the country’s law on immigration, LETA reports. Russian nationals with permanent residence permits must apply for the status of a permanent EU resident and pass…
Annual inflation in the Baltic States was highest in Estonia in June 2024, according to Eurostat data, BNS reports. Estonia’s harmonised annual inflation rate stood at 2.8% in June 2024, compared to 1.5% in Latvia and 1.0% in Lithuania. Compared to May 2024, prices rose by 0.5% in Estonia but remained unchanged in Latvia and…
The Lithuanian parliament, the Seimas, has voted in favour of withdrawing from the Convention on Cluster Munitions, with 103 MPs in favour, 1 against, and 3 abstentions, BNS reports. Once President Gitanas Nauseda signs the law, Lithuania will withdraw from the convention six months after notification. Defence Minister Laurynas Kasciunas argued that the convention restricted…