BNN - Baltic News Network

Business news portal Baltic News Network was launched on September 1, 2010, to provide objective and immediate information on both Latvian and global economic, social and politic events. The portal is available in three languages: Latvian, English and Russian.

BNN ANALYSES: Can Lithuania beat all odds with the world economy in doldrums in 2023?

Featured, Lithuania, economic growth, inflation in Lithuania, OECD, Swedbank, European Union,

Linas Jegelevičius When things in Lithuania in 2023 just do not seem rosy for most, Nerijus Mačiulis, chief economist of Swedbank Lithuania, has stirred a buzz this week by claiming that the country will shun an economic crisis this year and, if recession comes, it will be mild and short-term. ««What we predict is not […]

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Week in Lithuania: Scammers collect information on Ukrainian refugees, Teltonika signs contract with Taivan

Featured, Lithuania, Week in Lithuania, Teltonika, defence, Vilnius, Taiwan, scammers, defrauded money, NATO, war in Ukraine, war refugees,

Linas Jegelevičius This week, Lithuania has paid special attention to defense issues, and preparations have begun for the planned NATO summit in July, during which it is planned to host up to five thousand participants. Vilnius hosts annual Snow Meeting of security policy experts Vilnius hosted on Friday, the 20th of January, the annual Snow […]

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BNN ANALYSES: Vilnius says that Beijing is softening its stance

Featured, Lithuania, China, Taiwan, Taiwan representation, World Trade Organisation, Teltonika, business, trade, innovations,

Linas Jegelevičius Lithuanian President Gitanas Nausėda after his meeting with World Trade Organization’s Director-General Ngozi Okonjo-Iweala said that China is «softening its stance». But Lithuanian industrialists and analysts disagree with the notion, calling it «wishful thinking.» «One-sided recognition of Taiwan by allowing it to open a Taiwanese representative office in Vilnius in 2021 has been […]

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Week in Lithuania: Celebrates Freedom Defenders Day, Lithuanians will build a solar panel park in Latvia

Featured, Lithuania, Week in Lithuania, Ignalina Nuclear Power Plant, Covid-19, Gitanas Nausėda, Lithuanian–Belarusian border, solar panel park, solar power, Seimas, European Union,

Linas Jegelevičius The Lithuanian company is planning the construction of a solar panel park in Latvia, in the vicinity of Jēkabpils, while the Ignalina NPP is preparing for the dismantling process by signing a contract with the world’s leading experts. Zelensky addresses the Freedom Prize ceremony Lithuania has not betrayed freedom for a minute, which […]

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Europe maintains fine on Lithuania for removing Mažeikiai-Reņģe railway section

railway, EU court, Lithuania, Orlen

The Court of Justice of the European Union reports the decision was made to maintain in force the verdict with which Lithuanian state railway company Lietuvos geležinkeliai was fined EUR 20.069 million for demolishing Mažeiķi–Reņģe railway section. Complying with the decision of the European Commission (EC), Lithuania did restore the railway section. In February 2020 […]

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BNN ANALYSES: Deteriorating demographics in Lithuania must be deemed threat to national security

Featured, demographics, demographic challenges, Lithuania, births in Lithuania, Seimas,

Linas Jegelevičius A working parliamentary group, chaired by the Seimas Social Affairs and Labour Committee (SRDK) chairman, Justas Džiugelis, has proposed that parliamentary parties sign «a national agreement», recognizing demographic decline as a national threat. The working group of the Seimas, the Lithuanian parliament, to solve labour market problems has been active for almost a […]

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New honorary titles confuse Lithuanian society

Featured, Lithuania, Seimas, honouring, independence,

More than 200 persons in Lithuania have been recognized as Defenders of Freedom in the last 18 months after this status was enshrined in law, writes the Lithuanian public media LRT. In January 1991, Gediminas Jankus was among those who guarded the Lithuanian parliament building to prevent the Soviet army from entering it. He was […]

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A campaign to prepare society for crisis situations is starting in Lithuania

Feature, Lithuania, crisis, public safety, Agnė Bilotaitė, domestic security, 72 hours

The Interior Ministry of Lithuania has announced a basketball-themed campaign that calls on the public to prepare for various crises – war, nuclear disasters and other emergencies, Lithuanian public media LRT reports. Daiva Ulbinaitė, the press secretary of the Lithuanian Interior Minister Agnė Bilotaitė, told the media that she very much hopes that no one […]

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The difference in interest rates for loans and savings is criticized in Lithuania

Featured, Bank of Lithuania, Lithuania, mortgage loan, loans, interest rate, interest rate increase, money,

Banks are already demanding higher interest rates for loans, but are not in a hurry to raise them for savings, and Lithuanian financial regulators point out that this is not correct, writes Lithuanian public media LRT. The European Central Bank raised interest rates four times last year, and commercial banks raised their customers’ payments accordingly. […]

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Week in Lithuania: Seimas vice-speaker calls for publicly naming firms that do business with Russia

Featured, Week in Lithuania, Lithuania, Lithuanian Ministry of Transport, Covid-19, Lithuanian President Gitanas Nausėda, Lithuanian Railways, railway, railway electrification, Linava, Visaginas,

Linas Jegelevičius Last week, Defence Ministry proposed to shorten military service to 6 months, Transport Ministry and Lithuanian Railways signed a 10-year contract. Lithuania’s economic sentiment down in December Lithuania’s economic sentiment indicator, which measures confidence in the economy among producers, consumers, and investors, slid from minus 14,8 in November to minus 11,9 in December, […]

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Lithuania will follow EU recommendations on travelers from China

Featured, Lithuania, China, Covid-19, travel restrictions,

In response to the worsening of the Covid-19 situation in China, Lithuania, together with other European Union (EU) countries, is reviewing safety recommendations, writes Lithuanian public media LRT. EU experts decided to call on member states to require Covid-19 tests for passengers arriving from China. However, Audrius Ščeponavičius, head of the Public Health Department of […]

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Lithuanians: Tchaikovsky is also a weapon of Moscow

Featured, Lithuania, culture, Russia

Russia’s violent war in Ukraine has been going on for more than ten months, and Lithuania’s cultural sector is rethinking its relationship with Russian culture, Lithuanian public media LRT writes. In December, Ukrainian Culture Minister Oleksandr Tkachenko called on Western countries to refrain from promoting and consuming Russian culture. He noted that Russia is actively […]

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Week in Lithuania: watchdog slaps fines on real estate agencies, bank raises 307,000 euros for Ukraine

Featured, Week in Lithuania, HIMARS, central bank, Ignalina Nuclear Power Plant, Seimas, Klaipėda, party ratings,

Linas Jegelevičius In Lithuania, the last week of the year brought various news – some happy news, others not-so-pleasant news, and along with thoughts about the creation of an army division, changes have also affected a school in Klaipeda. Lithuania reports 471 new COVID-19 cases, one death Lithuania recorded 471 new coronavirus infections and one […]

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Week in Lithuania: Seimas approves compulsory school tests. 96 million euros investment in technology park in Vilnius

Featured, Vilnius, Klaipėda, Klaipėda port, Klaipeda LNG, education, Suwalki, technologies, Seimas,

Linas Jegelevičius The pre-holiday week in Lithuania is marked by important government decisions affecting both business and education. Agreements were also signed to increase security and promote development in Lithuania. FSRU Independence can be registered in Lithuania The Lithuanian Seimas on the 22nd of December approved more flexible regulation of the composition of ships’ crews […]

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BNN ANALYSES: Lithuania will compensate expropriated Jewish private property, but Skvernelis bristles

Featured, BNN analyses, Lithuania, jews, compensations,

Linas Jegelevičius The Lithuanian legislature, the Seimas, has greenlit this week 37 million euros for compensation for Jewish private property expropriated by the Nazis and Soviets in an overwhelming majority. 72 MPs voted in favour, six against, and two abstained when voting for the amendments to the Law on Good Will Compensation for the Property […]

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Lithuania is creating a new strategy to fight disinformation

Featured, Lithuania, Russian fake news, Facebook, Kremlin propaganda,

Specialists from Lithuania, Poland and Ukraine have studied Russian disinformation techniques during the war and warn that countries must coordinate actions to fight propaganda, Lithuanian public media LRT writes. The Lithuanian government plans to create a center that will fight Kremlin propaganda. At the moment, the Russian media is focusing attention on the demolition of […]

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Week in Lithuania: Fertiliser producer ceases production again. Court starts hearing in pollution case

Featured, Week in Lithuania, Lithuania, marijuana, Seimas, fertiliser, European Investment Bank, Klaipėda port, Emmanuel Macron, HIMARS, Curonian Lagoon

Last week, Seimas inched towards decriminalizing small amounts of cannabis, demarche to France over Macron’s comments on Russia’s signed. Lithuania signs $495-million contract with US for HIMARS systems On the 15th of December, Lithuanian Defence Minister Arvydas Anušauskas met with the US Defence Secretary Lloyd Austin in Washington and signed the contract for acquiring High […]

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Lithuania signs a multimillion dollar contract to acquire HIMARS

Featured, Lithuania, defence, HIMARS,

Lithuanian Defense Minister Arvydas Anušauskas met with US Defense Minister Lloyd Austin in Washington on the 15th of December, and signed an agreement on the purchase of HIMARS, Lithuanian public media LRT writes. Lithuania plans to buy eight High Mobility Artillery Rocket Systems (HIMARS) from the United States, along with various types of missiles, including […]

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BNN ANALYSES: Lithuania to remove monuments, but should the Russian language be phased out?

Featured, Lithuania, Seimas, Soviet monument, Soviet monument removal,

Linas Jegelevičius for the BNN The Lithuanian parliament, the Seimas, has adopted this week a law phasing out what it calls the promotion of «totalitarian and authoritarian regimes and their ideologies» in public places. The legislation will obligate all the municipalities to tear down Soviet-era monuments in the country, as well as change the names […]

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Lithuanian minister: Baltic States and Poland block new anti-Russian sanctions

Baltic States, EU sanctions, Gabrielius Landsbergis, Poland, anti-Russian sanctions, sanctions blocked

On Thursday, the 15th of December, Baltic States – Latvia, Lithuania, Estonia – and Poland blocked the new package of anti-Russian sanctions proposed by the European Union. The reason is because western nations suggested making exports of animal feeds and fertilizers an exception, said Lithuanian Minister of Foreign Affairs Gabrielius Landsbergis. He said inclusion of […]

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