The Lithuanian food manufacturer Daumantai owns a factory in Kaliningrad. The company’s manager, a liberal member of the municipal council of Kedainiai, says he has been looking to divest since Russia launched its invasion of Ukraine, but has not been able to do it yet. Daumantai, a Lithuanian sauce producer, owns a company registered in…
Lithuania’s budget deficit will reach 4.9% of gross domestic product (GDP) this year instead of the previously projected 3.3%, Finance Minister Gintare Skaiste has said. “Considering the revisions and additional expenditure, the budget deficit this year might reach 4.9% of GDP, which will also be due to the increased financing of national defense that has…
Over 250 Russian and Belarusian trucks were refused entry into Lithuania following the EU’s fifth package of sanctions against the two countries. Meanwhile, unprecedented queues of trucks have formed on the Lithuanian side of the border with Belarus. According to the Customs Department, the queues at the Lithuanian border with Belarus have never been so…
On April 11, Klaipeda started a new cruise season, with 80 cruise ships expected to arrive this year. The season was opened by the Conti Group-owned Hamburg cruise ship that brought more than 300 German tourists to Klaipeda. The 144-meter-long Hamburg, with a capacity of 420 passengers operated by German company Plantours Kreuzfahrten was docked…
The Lithuanian government has put together a plan on alleviating the effects of inflation, with the parliament expected to vote on them before Easter. Observers say more effort may be needed within months – and it may include measures that the government rejects today. Epigone, a company that sells merchandise linked with Lithuania, says the…
Lithuania plans to spend more than 1 billion euros on purchasing weapons from the US and Germany over the next couple of years, the Defence Ministry says. The United States and Germany are the main sellers of weapons for the Lithuanian military, which has spent 0.5 billion euros on purchases from the US and almost…
Nord Security, a cyber security tech firm that is behind NordVPN, has become Lithuania’s second company to be valued at over $1 billion after attracting an investment of $100 million. Founded in 2012, Nord Security is now valued at $1.6 billion. This makes the company Lithuania’s second unicorn, after the clothing resale platform Vinted. According…