Indorama Corporation, a leading Asian chemical company based in Singapore, has bought the Georgia-based Rustavi Azot plant, one of the largest suppliers of mineral fertilisers and industrial chemicals in the South Caucasus region. The Georgian Economy Ministry announced the deal on January 13, and said it followed the corporation’s exploration of the Georgian investment climate…
Lithuania should carry out an audit of its pension reform launched five years ago and evaluate the results before considering any changes to the system, President Gitanas Nauseda said. The president’s comment comes amid public outrage over the automatic inclusion of people into the additional pension accumulation system. Nauseda noted that the Lithuanian pension system…
Decrease of inflation to 16.6% in December 2022 was mainly due to the effect of lower heating costs, Jakub Rybacki from the Polish Economic Institute (PIE) said. As announced on January 13 by the Central Statistical Office (GUS), inflation in December 2022 amounted to 16.6% YoY. A month earlier, it stood at 17.5%. According to…
Two international consortia have contracted to develop technologies for dismantling the reactors of Lithuania’s Ignalina Nuclear Power Plant (INPP) for around 11 million euros, not including VAT, in total. The plant was shut down more than a decade ago and was now being decommissioned. On January 11, the INPP signed two contracts for design services…
Georgian external trade turnover amounted to $19.04 billion in 2022, up by 32.8% YoY, the Georgian National Statistics Office revealed. The value of exports rose by 31.8% and equaled $5.59 billion, while imports grew by 33.2%, amounting to $13.45 billion in 2022. Trade deficit reached $7.85 billion, and the share of trade turnover hit 41.3%.…
The Court of Justice of the European Union reported the decision was made to maintain in force the verdict with which Lithuanian state railway company Lietuvos gelezinkeliai was fined EUR 20.069 million for demolishing Mazeiki-Renge railway section. Complying with the decision of the European Commission (EC), Lithuania did restore the railway section. In February 2020,…
On January 13, 11 vessels with 313,500 tons of agricultural products left the ports of Greater Odesa. Three bulk carriers are heading to African countries at once. Bulk carrier Lady Litel with 31,000 tons of wheat – for Libya, bulk carrier East Wind 1 with 25,000 tons – for Tunisia and bulk carrier Lady Hatice…