Donald Tusk, leader of Poland’s main opposition party Civic Platform (PO), has suggested a package of solutions to help society weather rising prices, interest rate increases and shrinking savings. Poland’s inflation reached 10.9% YoY in March despite the seventh rate hike in a row by the central bank, which pushed the reference interest rate up…
Lithuania plans to buy about 100 more infantry fighting vehicles from a German manufacturer, according to the Defence Minister Arvydas Anusauskas. Lithuania plans to continue purchasing the same IFVs (named Vilkas, or Wolf) it will use to completely equip two battalions this year, Anusauskas said. “A second phase of IFV procurements will be launched. They…
Both due to the surge of the cost of construction materials and the war in Ukraine, construction company Merks has projects in which it has major difficulties to progress within the limits of previous costs detailed in contracts. All this causes major losses, says Merks board chairman Andris Bismeistars. He explained that last year there…
While gray alder has few uses other than providing heat, harvesting the timber has not been cost-effective. Energy price hikes could be changing this situation now, with gray alder one alternative to Russian gas. Gray alder woods make up 6.6% of Estonian woodlands. State forests hold 5.5 million cubic meters of gray alder and private…
The Lithuanian food manufacturer Daumantai owns a factory in Kaliningrad. The company’s manager, a liberal member of the municipal council of Kedainiai, says he has been looking to divest since Russia launched its invasion of Ukraine, but has not been able to do it yet. Daumantai, a Lithuanian sauce producer, owns a company registered in…
The value of the Polish e-commerce market reached PLN 111 billion (EUR 23.9 billion) in 2021, of which 56% were goods and 44% services, the PMR researcher found. Online sales of services were worth PLN 48.7 billion (EUR billion) in 2021 and are expected to double, to PLN 97 billion (EUR 20.9 billion), until 2027,…
Over the first quarter of 2022, Ukraine’s monobank suffered losses in the amount of over UAH 100 million. The financial statements for the first quarter were forwarded to the National Bank on April 13, monobank co-founder Oleh Horokhovsky wrote on Telegram. According to the official, January was “very profitable” for the bank, February saw a…