Posts tagged as business

Lithuania’s lobbying scandal: business rep accused of efforts to depose minister

Thursday, June 4, 2020

Valdas Sutkus, the president of the Lithuanian Business Confederation (LVK), is suspected of organising a smear campaign against former transport minister and taking bribes from business groups. Sutkus is under investigation as part of a large-scale lobbying corruption case, Lithuania’s anti-corruption agency, the Special Investigation Service (STT), said on Wednesday that Sutkus, who was detained a day earlier before being released from remand, was allegedly paid to collect and publish…

Fisheries in Liepāja shift more business to hospitality

Thursday, June 4, 2020

Following the EU-wide ban on cod fishing in the Baltic Sea , fisheries have instead moved on to the hospitality and tourism business. An old warehouse in the Liepāja port town now houses a brewery, a fish procession plant and a gastropub. The proprietors – the Laugaļi family – already have experience in hospitality after fishing fleets were cut, but now they’ve set up shop at the scenic Liepāja marina with…

Lithuania’s banking and business reps detained in illegal lobbying probe

Tuesday, June 2, 2020

Presidents of Lithuania’s major business and banking associations are suspected of illegal lobbying that may have affected bank taxing legislation. Valdas Sutkus, head of the Lithuanian Business Confederation (LVK), one of the country’s biggest business associations, and Mantas Zalatorius, head of the Lithuanian Banks Association (LBA) were detained on Tuesday. Four other unnamed businesspeople were also detained as part of an investigation into large-scale bribery, influence peddling and document forgery,…

Businessman Gulami detained

Thursday, May 14, 2020

On May 12, businessman Gulam Gulami was detained by the State Police, reported Latvian Television May 13. The court has detained the controversial businessman as the only suspect in criminal proceedings related to the ownership of a hotel in Riga’s Old Town, LTV said. An eyewitness photograph sent to Latvian Television shows that the Royal Square Hotel in Old Town was packed on Tuesday – not with visitors, but officials. The hotel confirmed…

Lithuania’s ‘Business vs Covid-19’ initiative mobilises local manufacturers

Monday, April 13, 2020

Lithuania’s business promotion agency has moblised local manufacturers to fill supply gaps created by the  coronavirus   pandemic. Business vs. Covid-19, an  initiative   by Enterprise Lithuania, has now attracted 179 local companies, according to a press release. The platform enables companies to submit proposals to the public and private sectors, including medical institutions, pharmacies and retail chais. It’s now being actively used by medical institutions, “which need to purchase…

Lithuania doubles business support to €1bn

Monday, March 30, 2020

Lithuania’s government is doubling the financial support to maintain business liquidity from 500 million to more than 1 billion euros. The government plans three key measures to support business liquidity, according to Energy Minister Žygimantas Vaičiūnas, who is also the acting economy minister after Virginius Sinkevičius was chosen as Lithuania’s European Commissioner. “The whole package of Invega [the state enterprise aimed at promoting business growth] exceeds 1 billion euros, and…

Latvian government announces support measures for business

Thursday, March 19, 2020

The Latvian cabinet on Thursday endorsed the Finance Ministry’s bill on measures for overcoming the crisis caused by the coronavirus Covid-19, and its effect on businesses, which encompasses a comprehensive set of state support measures, including benefits that will be paid to employees laid off by companies, reported the LETA newswire. Finance Minister Jānis Reirs told reporters after the cabinet meeting that the measures provided “unprecedented help” and applied to all…

Latvian government announces billion-euro support for businesses hit by coronavirus

Friday, March 13, 2020

Latvian policymakers on March 13 said a billion-euro fund was being made available to assist businesses through the COVID-19 coronavirus crisis. The billion-euro figure is the amount that could potentially be used as “financial instruments” for businesses via the state-owned ALTUM development bank. Prime Minister Krišjānis Kariņš, flanked by Finance Minister Janis Reirs and central bank governor Martiņš Kazāks, stressed that the money would not take the form of grants but…

Dill-obsessed and proud

Thursday, February 27, 2020

Living in Denmark Krista Miltiņa came to look at Latvians from a different perspective, and now she’s turned the artwork she created featuring these observations into a business after one of the drawings she posted blew up on social media. “I thought a lot about Latvians, what we’re like. The first illustrations came about because I wanted to gift my friends something, and I began drawing illustrations about us –…

Latvia has created business environment for attracting long-term investment

Monday, February 24, 2020

Latvia has created a business environment for attracting long-term investment, Prime Minister Krisjanis Karins (New Unity) said after a meeting of the Financial Sector’s Development Council on Monday. At its meeting today, the Financial Sector’s Development Council discussed the the Financial Action Task Force’s (FATF) decision not to include Latvia in its “grey list” and the S&P Global Ratings’ decision up upgrade its rating on Latvia to record-high A+. The…