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…
Following Russia’s invasion of Ukraine, Lithuania was among the first countries to restrict visas for Russian citizens, including a full ban on tourist visas. However, it has not produced the intended effect – more nationals from the neighbouring country have visited Lithuania than before the war. “If Italy has issued a tourist visa, then, of…
Banks operating in Lithuania say they are waiting for clarifications from the government on whether to handle payments for Russia’s Kaliningrad transit. According to the Lithuanian Banking Association, they need assurances they will not breach international sanctions for servicing Russian payments. “For a financial institution to be able to consider a possibility to apply an…
Banks operating in Lithuania may be granted exemptions and allowed to handle payments for the Kaliningrad transit service, the Lithuanian Financial Crime Investigation Service (FNTT) has said. “The FNTT is guided by directly applicable EU regulations, European Commission’s guidelines, which state that sanctions do not apply to the transit of goods by rail between mainland…
A proposal to ban Lithuanians from doing any business with Russia may bring unintended secondary effects, warn industry representatives. Few firms trade with Russia, they say, but many need to transit the country to bring their goods to Asia. In the wake of Russia’s invasion of Ukraine, thousands of foreign companies have suspended operations in…
Poland’s State Treasury will buy out shares in the Polish Mining Group (PGG), Europe’s biggest coal mining conglomerate, from four shareholders in which the Treasury has stakes. The State Treasury will buy 20.43% of shares in PGG from PGNiG Termika, 15.32% of shares from PGE Gornictwo i Energetyka Konwencjonalna, 7.66% from Enea and 15.32% from…