In the third quarter of 2021, the hourly labor costs in Estonia rose by 8% YoY, whereas the corresponding growth was 2.5% in the euro area and 2.9% in the European Union. In the second quarter, hourly labor costs increased by 0.5% in the EU and by 5.1% in Estonia, according to figures published by…Details
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The World Bank’s Board of Executive Directors has approved the provision of $400 million in financing to Uzbekistan as part of the Development Policy Operation (DPO), the WB press service has reported. The purpose of the operation is to help the government implement socio-economic reforms that will help accelerate the country’s transition to an inclusive…Details
German companies can provide technology and equipment for Georgia’s competitive industrial sector, the Federal Ministry of Economic Affairs and Climate Policy of Germany reported. The Federal Ministry of Economic Affairs and Climate Policy of Germany supports German companies in taking part in international trade fairs and conducting fact-finding missions, including to Georgia. “German companies are…Details
Prime Minister of Ukraine Denys Shmyhal believes that Ukraine and Turkey will ink a free trade agreement next year. “I strongly believe that we will sign this agreement next year. The visit of the President of Turkey to Ukraine is scheduled for February 2022. I think that we will approach a balanced agreement until then,”…Details
In 2022, PJSC “Export-Credit Agency” (ECA) plans together with banks to launch a UAH 20-billion program in support of Ukrainian exporters. “Next year, we plan to launch a new program of cooperation with banks, providing at least 20 billion UAH in support of exporters,” Acting Chairman of Board of ECA Ruslan Hashev said at the…Details
Tbilisi Mayor Kakha Kaladze said Tbilisi City Hall was going to purchase 380 new buses in 2022. Kaladze also noted that old buses and minibuses would be totally replaced, and the municipal transport problem would finally be solved next year. “Tbilisi City Hall will purchase 180 units of 8-meter buses and 200 18-meter buses. New…Details
Revolut Bank, a part of the British fintech Revolut, has been granted a banking license, the Bank of Lithuania (LB) reports. Upon LB’s proposal, the banking license was issued by the European Central Bank. The company, headquartered in London, runs a specialized bank, Revolut Bank, and an e-payment platform Revolut Payments. CEO Joe Heneghan said…Details