Approximately 80 workers will be made redundant when AS Kunda Nordic Tsement cement company stops producing clinker later this month. The decision was taken by the supervisory board after a surge in the price of CO2 emissions. The plant in Laane-Viru County uses old production technology, which creates a relatively high level of carbon emissions.…Details
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Average monthly earnings in Georgia increased by 117.6 GEL ($39 or EUR 34.9) in the fourth quarter of 2019 compared to the same period of the previous year and amounted to 1,319.6 GEL ($438.1 or EUR 391.8), reported the National Statistics Office of Georgia (Geostat). The highest monthly earnings were observed in the following fields:…Details
Kazakhstan will introduce a ban on accrual of remuneration for more than 90 days delayed payments in regard with consumer loans of individuals. The ban will be introduced on accrual of interest for delays of more than 90 days on all unsecured consumer loans of individuals, said Madina Abylkasymova, chairwoman of the Agency for regulation…Details
Ukrainian banks in recent days have been showing signs of a shortage of cash foreign currency, which is caused by an increase in the population’s demand for cash foreign currency. Some $8 billion of non-cash currency are now on correspondent accounts of banks, and customers can freely transfer their currency to their accounts opened with…Details
The National Bank of Ukraine (NBU) will sell $200 million on the interbank foreign exchange market. The regulator sold $270 million on the interbank foreign exchange market on March 10, about $350 million on March 11, over $220 million on March 12 and almost $150 million on March 13 to stabilize the hryvnia. The U.S.…Details
Lithuania’s economy may shrink by at least 1.2% this year due to the coronavirus, economists from the central bank estimate. This would be an “optimistic” scenario, according to the bank’s chairman Vitas Vasiliauskas. “We believe the economy could contract by 1.2%, meaning that the former baseline scenario changes by almost 4%. But, once again, I…Details
It has been decided to shut down all international passenger services starting from March 17, as announced by Latvia’s Prime Minister Krisjanis Karins after an extraordinary meeting of the government. The shutdown extends to the railway, airport and buses. People who wish to return home from Latvia or return to Latvia will be able to…Details