Siauliu Bankas has started converting Ukrainian hryvnias into euros, the first commercial bank to offer the service in Lithuania. However, only Ukrainians will be allowed to use the service to exchange up to 10,000 hryvnias. Converting the Ukrainian currency into euros became possible after Lithuania’s central bank signed agreements with its Ukrainian counterpart and Siauliu…
The Polish government wants to bring inflation down as quickly as possible, the Polish prime minister said at a press conference on October 11. Inflation in Poland last month hit 17.2%, a 25-year high, as the country suffered from supply-chain disruption caused by the pandemic and surging energy prices owing to the war in Ukraine.…
United Airports of Georgia has started a GEL 8-million (about $2.8 million) renovation that will add a new runway at the Kutaisi international airport. In the two-week work, the new three-kilometre runway will be added to ensure the airport’s ability to receive larger aircraft and “make operations more flexible”, the organisation’s head of infrastructure development…
The European Union should remodel its energy price regulation framework for small and medium-sized companies (SMEs) in the face of the continuing energy crisis, Mateusz Morawiecki, the Polish prime minister, has said. Morawiecki made the statement at a press conference on October 11 following a government decision to cap electricity prices for certain consumers. “We…
Amid rising inflation, the economies of Lithuania and other countries in the world may grow slower than earlier thought, according to the latest assessment by the International Monetary Fund (IMF). The IMF expects Lithuania’s GDP to grow by 1.8% this year and by 1.1% in 2023. While the forecast for 2022 remains unchanged from the…
From October 11, Ukraine suspended electricity exports in order to stabilize its energy system, the Ministry of Energy said this in a statement posted on its Facebook page. “The October 10 missile attacks, which affected the thermal power generation and electrical substations, force Ukraine to suspend electricity exports from October 11 in order to stabilize…