Special discounts on petrol, such as the one introduced by PKN Orlen, the dominant Polish fuel company, may play an important role in lowering inflation, PKO BP’s chief economist said on July 4. Piotr Bujak said that “energy prices continue to rise, mainly those for natural gas, due to Russia limiting supplies to the European…Details
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Lithuania’s State Energy Regulatory Council (VERT) stripped Inter RAO Lietuva, a group owned by the Russian energy giant Inter RAO, of its electricity export, import and independent supplier licenses. The decision to revoke the import and independent supplier licenses, suspended in late May, was taken after the company failed to inform the watchdog until June…Details
The Customs Service (SV) collected over 738.7 million lei (36.9 million euros) on June 27 – July 3, up by 18.4% from the target. According to SV, private people imported goods, the value of which in customs exceeded over 15 million lei, which accounted for 2% of the overall sum collected. The money collected from…Details
Lithuania attracted 15 new foreign investors in the first half of this year, and another 16 have expansion plans, says Investuok Lietuvoje (Invest Lithuania), Lithuania’s foreign investment promotion agency. The new investments attracted during the six months will create more than 3,000 jobs, which shows that Lithuania remains competitive in attracting foreign investment. (BNN/Business World…Details
The prices of restaurant and hotel services, as well as cost of food, alcoholic and non-alcoholic beverages and tobacco increased in June MoM, according to the latest inflation data from the National Statistics Office of Georgia. The figures showed prices for restaurant and hotel services increased by 2.3%. This included increased prices for both accommodation…Details
Revolut Bank has received permission to increase its authorized capital from 5.5 million euros to 36.8 million euros, the central Bank of Lithuania reports. The central bank’s Financial Market Supervision Committee made the decision after assessing the application and the information submitted by Revolut Bank, allowing the company to register the amendment to the bank’s…Details
Reduction of excise tax for fuel should be evaluated, says Latvian Minister of Economics Ilze Indriksone. “In March, when the first major price rise was observed, we proposed reducing excise tax to the minimal rate in the European Union. It is important to reduce the price to stop it from going up or to reduce…Details