Revolut Bank has received permission to increase its authorized capital from 5.5 million euros to 36.8 million euros, the central Bank of Lithuania reports. The central bank’s Financial Market Supervision Committee made the decision after assessing the application and the information submitted by Revolut Bank, allowing the company to register the amendment to the bank’s…
Reduction of excise tax for fuel should be evaluated, says Latvian Minister of Economics Ilze Indriksone. “In March, when the first major price rise was observed, we proposed reducing excise tax to the minimal rate in the European Union. It is important to reduce the price to stop it from going up or to reduce…
The insolvency administrator of Lithuania’s bankrupt bank Snoras and Swiss bank Julius Baer & Co. Ltd amicably settled a legal dispute over the financial transactions made by Snoras’ former executives and shareholders when they transferred large amounts of money to foreign banks. Under the signed agreement, Julius Baer & Co Ltd will pay 105 million…
According to data provided by Statistics Estonia, in May the total production of industrial enterprises increased by 4.8% at constant prices in comparison to May 2021. Output increased in all three industrial sectors, with manufacturing growing by 2.2%, electricity production by 34.2% and a 25.5% rise in mining. Helle Bunder, analyst at Statistics Estonia, said…
The budget for NATO’s summit in Vilnius in 2023 is tentatively estimated at 30 million euros, the Lithuanian Foreign Ministry has said. “The preliminary estimate is that the budget for the NATO summit could reach 30 million euros,” the ministry said. According to the ministry, the summit will be organised at the expense of the…
Currently, about UAH 130 billion is spent on maintaining the Ukrainian Army every month, Prime Minister Denys Shmyhal has said. “While we used to have nearly UAH 156 billion for maintaining the Army – that’s the annual budget of the Armed Forces – today UAH 130 billion is a monthly amount. Of course, social payments,…