The Estonian Chamber of Commerce and Industry (EKTK) wants to cut the national minimum paid vacation from 28 calendar to 20 working days, arguing the current system is unfair. In a letter to Minister of the Economy and Industry Erkki Keldo (Reform), the chamber said the Employment Contracts Act set a national minimum of 28…
The Lithuanian government on October 16 approved the Finance Ministry’s draft budget for 2026, which included a significant increase in spending and a record allocation for defence, before submitting it to the Seimas, the parliament, for debate. Finance Minister Kristupas Vaitiekunas said Lithuania’s strong revenue growth this year allowed the government to boost expenditures while…
Each year, the UK-based international investment publication fDi Intelligence releases its “Global Free Zones of the Year” report, evaluating the performance and impact of special economic zones (SEZs) around the world across multiple categories. In this year’s edition, the Ventspils Freeport Authority was highlighted and received special recognition for its sector-oriented investment attraction strategy. The…
Ukraine’s national power grid operator Ukrenergo currently has no plans to introduce scheduled hourly power outages for households. The company’s CEO, Vitalii Zaichenko, said that the ongoing emergency power cuts were the result of Russian attacks on Ukraine’s energy system and insufficient electricity imports from Europe due to high market prices there. “At the moment,…
Ukrainian Prime Minister Yulia Svyrydenko and her Government team met with John Jovanovic, President of the U.S. Export-Import Bank, in Washington, D.C. “We continued developing our business cooperation track with the United States during a meeting with the newly appointed President of the U.S. EXIM Bank, John Jovanovic. I appreciate his attention to Ukraine. It…
The international ice cream producer Froneri has signed an agreement to acquire the ice cream business of the dairy group Food Union in Europe, including its ice cream operations in Latvia, the company has announced. Specific financial details of the transaction have not been disclosed. The proposed deal – which is still subject to approval…
Estonia’s general government budget deficit stood at EUR 342 million as of the end of August, the Ministry of Finance has said. This represented 0.8% of expected annual GDP – a fall of EUR 207 million. As of the end of August, central government – meaning mainly the state budget – had a deficit of…