The European Commission (EC) on December 20 okayed the Polish government’s EUR 1.1-billion support scheme for energy-intensive firms. Under EU rules, state aid must be approved by the EU to avoid unfair competition, but soaring energy costs in the wake of the post-Covid supply chain bottlenecks and Russia’s invasion of Ukraine have hit energy-intensive companies…
The World Bank has approved an additional financing package totaling $610 million to address urgent relief and recovery needs in Ukraine, as the war with Russia continues. “The package includes an additional $500-million loan from the World Bank’s International Bank for Reconstruction and Development (IBRD) that is supported by a guarantee from Britain,” Reuters said.…
Longer power outages in Kyiv are a new reality for Ukraine’s capital, Kyiv, the Yasno operator CEO, Serhii Kovalenko, has said. “The situation in Kyiv is difficult. Today, all three groups of consumers are almost completely disconnected from supplies simultaneously. The schedules naturally aren’t working at the moment. In addition to all the damaged sites,…
Poland’s average corporate gross monthly wage rose by 13.9% YoY, to PLN 6,857.96 (EUR 1,463) in November, the Central Statistical Office (GUS) said on December 20. In monthly terms, the average wage went up by 2.5%. Economists polled by PAP expected a 12.9% annual increase in the corporate wage in November and a 2% rise…
Lithuania and Sweden should negotiate ways to share electricity producers’ excess profits without the European Commission’s intervention, Asta Skaisgiryte, the Lithuanian president’s senior foreign policy adviser, has said. “The European Commission could be involved, if necessary, but I don’t think we should do that. I think we should be able to reach a mutual agreement,”…
Poland’s industrial output rose by 4.6% YoY in November, the Central Statistical Office (GUS) reported on December 20. Month on month, industrial output increased by 2.9%. Economists polled by PAP expected November’s industrial production to grow by 2.5% YoY and by 0.4% MoM. Manufacturing prices increased by 20.8% YoY, but fell by 0.5% MoM, GUS…
Lithuania is set to soon sign a contract on the acquisition of new combat drones from the US, Lithuanian Defence Minister Arvydas Anusauskas has said. “One more contract will be signed in the next few days with the manufacturer Switchblade 600. These are combat drones with a combat range of 40 kilometres,” Anusauskas said. According…