Amid regional uncertainties, Lithuanians are stocking up gold bars and coins. The head of the mint says it is often the case that investments flock to gold during crises. The only mint in the Baltic States has few gold products left in its shop, just a few gold-plated angels, coins and gold bars. “People joke…
Russia has already exhausted the limit for the transit of some sanctioned goods through Lithuania to and from Kaliningrad, so they are no longer transported by Lietuvos Gelezinkeliai (Lithuanian Railways, LTG), the country’s state-owned railway company says. “The averages of some commodity codes for iron and steel, wood products, fertilisers, ethylene glycol, as well as…
A ban on transporting Russian coal and solid fuel through the EU came into force on August 10 under the EU’s fifth sanction package. However, the ban is subject to an exception in Lithuania under the European Commission’s clarification. A limited amount of sanctioned products can be transported by rail between mainland Russia and the…
Lithuania, which is buying Switchblade combat drones from the United States, will get additional drones in the form of support, Deputy Defence Minister Vilius Semeska has announced. “Regarding Switchblades, decisions have already been made, and we are waiting for a contract. We have already got consent enabling us to receive the technology, and we are…
The number of companies going bankrupt in Lithuania is on the rise and is set to increase even further, as the pandemic business support measures expire. “A restaurant has only a 25% chance of surviving five years after opening,” says Deivydas Praspaliauskas, founder of the Amandus restaurant in Vilnius. Before the pandemic, a third of…
Lithuania’s Deputy Transport Minister Agne Vaiciukeviciute, accompanied by a delegation of local businesspeople, is visiting Taiwan this week to discuss potential cooperation, the Transport Ministry said on August 8. In Taipei, Vaiciukeviciute is scheduled to meet with Taiwanese deputy ministers of transportation and communications, economy and foreign affairs. “Opportunities for cooperation between Lithuania and Taiwan…
Lithuania’s Kedainiai-based phosphate fertiliser producer Lifosa is resuming operations after a nearly four-month break. The company is facing various challenges ahead but hopes to overcome them all, acting CEO Regvita Ivanoviene has said. “We face many challenges, both related to the sale of our products and with the purchase of raw materials. We had to…