Rail Baltica’s woes to continue as Lithuanian Latvian and Estonian auditors launch a probe into the internal control systems and public procurement strategies of the company. At the same time, Baiba Rubesa, CEO of the joint venture, resigned.
Over the course of the last dozen or so months, EU institutions, as well as the Polish Financial Supervision Authority have intensified their efforts to help fintech companies to develop.
Lithuanian Railways will invest EUR7bn by 2030 as part of its long-term strategy. The company aims to increase its annual revenues from EUR448m in 2017 to EUR725m by 2030.
In 2017, the value of fixed capital formation in the EU member states increased by EUR123bn y/y. In Poland, it was EUR5.5bn higher y/y, but its share in relation to GDP decreased to the lowest level in 20 years.
The US natural gas “revolution” has already benefitted European gas consumers: Gazprom has been obliged to lower the prices of many of its long-term contracts with European customers.
The latest Global Innovation Index (GII) has classified the Baltic States highly. The Index ranks 126 countries and their innovative aspects within political environment, education, and infrastructure and business culture.
One of the key issues in the economic debate across the world, and in particular in the developed countries, is the inadequate funding of retirement pensions. However, the fact that this problem is much more serious in the case of women has been overlooked.
According to the new guidelines of the European Commission, the share of recycled municipal waste will increase to 65 per cent. The EC announced that the EU will become a global leader in waste management and processing of recyclable materials.
The latest Latvian figures show Latvian unemployment rates are still above the EU rate. However, salaries increased in all Baltic countries.
The market risk for the European banking sector–associated with growing volatility, potential liquidity shortages and the possibility of drops in asset prices–increased at the turn of the year and is currently at a high level.