The central bank of Lithuania says more money is being withdrawn from ATMs in the country, likely in reaction to Russia launching a military operation against Ukraine on February 24. “As geopolitical tensions rise in the region, cash demand in Lithuania has increased slightly. We would like to underline, however, that money circulation in Lithuania…
The Lithuanian fintech company Paysera has halted transfers to and from Russia. The decision was made in solidarity with Ukraine and to reduce risks from the Russian market. The company will no longer process transactions in Russian rubles, close its Russian clients’ accounts and restrict money transfers to and from Russian and Belarusian banks, it…
On February 22, drivers of the ride-hailing app Bolt were striking against the planned increase in the commission fees. The following day, some of them were suspended from the app. In March, Bolt is planning to increase its commission fees for drivers in Vilnius from 20% to 25% and from 10% to 15% or 20%…
Lithuanian President Gitanas Nauseda backs Defense Minister Arvydas Anusauskas’ proposal to increase the country’s defense budget as quickly as possible. “As the security situation in the region is deteriorating, the president supports the fastest possible increase in the defence budget,” Nauseda’s spokesman Ridas Jasiulionis said. Anusauskas said he would propose to increase Lithuania’s defense budget…
Defense Minister Arvydas Anusauskas said he would propose to increase Lithuania’s defense budget this year amid worries of Russia’s aggression against Ukraine. “I suggest adjusting this year’s budget,” Anusauskas said after reports that Russia was not pulling back troops from Belarus after the conclusion of military drills. He said additional funding would be used to…
Lithuania has come in second in the Financial Times’ latest ranking of Europe’s financially and economically advanced and entrepreneurial cities. Vilnius was assessed in the general category of medium-size cities as part of the ranking, the Lithuanian capital’s development agency Go Vilnius said. Produced by the Financial Times’ investment arm fDi Intelligence, the European Cities…
Lithuanian central bank has told the country’s commercial banks to prepare for possible power cuts and cyberattacks, as fears of Russia invading Ukraine continue to mount, Reuters has reported. Losing electricity and Internet access were “extreme but possible” scenarios that the Bank of Lithuania told the country’s banks to be ready for in a letter…