Last week, Revolut Bank got green light to raise capital, 460 new COVID-19 cases, one death reported on Wednesday
Bankrupt bank Snoras to recover 105 million euros from Switzerland’s Julius Baer
The insolvency administrator of Lithuania’s bankrupt bank Snoras and Swiss bank Julius Baer & Co. Ltd have amicably settled a legal dispute over the financial transactions made by Snoras’ former executives and shareholders when they transferred large amounts of money to foreign banks. Under the signed agreement, Julius Baer & Co Ltd will pay 105 million euros to Snoras, the bank said on Friday, 1 July. Gintaras Adomonis, Snoras’ administrator, says the amicable agreement marks the end of a very important stage in the former bank’s bankruptcy process.
Border guards turn six irregular migrants away on border with Belarus
Lithuanian border guards turned away over Thursday, June 30, six migrants attempting to cross into the country from Belarus illegally, the State Border Guard Service (SBGS) said on Friday, 1 July. Lithuanian border guards have sent more than 10 300 people back to Belarus since last August, when they were given the right to deny entry to irregular migrants. However, the number includes repeated attempts by the same people to cross the border. Almost 4 200 irregular migrants crossed into Lithuania from Belarus illegally last year.
President met with Spanish King Felipe VI
Lithuanian President Gitanas Nausėda met with Spanish King Felipe VI on Thursday, 30 June, as the president attended the NATO summit in Madrid, the presidential press service said. The meeting focused on bilateral relations between Lithuania and Spain and the prospects for their development, as well as Russia’s military aggression in Ukraine and its implications for the security in Europe. The Lithuanian president thanked Spain for its consistent contribution to strengthening the security of Lithuania and the Baltic region, in particular for its role in the NATO Baltic air policing mission. The president invited King Felipe VI to visit Lithuania on the occasion of the centenary of establishing diplomatic relations between Lithuania and Spain.
Revolut Bank gets green light to raise capital
Revolut Bank has received permission to increase its authorized capital from 5.5 million euros to 36.8 million euros the central Bank of Lithuania said on Friday, 1 July. The central bank’s Financial Market Supervision Committee made the decision after assessing the application and the information submitted by Revolut Bank, allowing the company to register the amendment to the bank’s articles of association on the increase of its authorised capital. From July, Revolut Bank will also start providing the services that have so far been provided by the group’s another company, e-money institution Revolut Payments.
Lithuania attracts 15 new investors in last half-year
Lithuania attracted 15 new foreign investors in the first half of this year, and another 16 have expansion plans, says, Investuok Lietuvoje (Invest Lithuania), Lithuania’s foreign investment promotion agency, said on Thursday, 30 June. The new investments attracted during the six months will create more than 3 000 jobs, which shows that Lithuania remains competitive in attracting foreign investment, the agency’s head Elijus Čivilis said.
Top court rejects convicts’ appeals in January 13 case, reduces one sentence
The Supreme Court of Lithuania on Thursday, 30 June, rejected the appeals lodged by a group of persons convicted in the 13 January case and upheld their convictions, but reduced the prison sentence for one of them, Yuri Mel. The court also changed the sentence for Mel who was in command of a Soviet tank during the events of January, 1991, and cut his prison sentence from ten to nine years. The Supreme Court’s decision is final and binding. A total of 13 appeals were filed in this case. All of them received prison sentences.
Lithuanian watchdog strips Inter RAO Lietuva of all licenses
Lithuania’s State Energy Regulatory Council (VERT) on Thursday stripped Inter RAO Lietuva, a group owned by Russian energy giant Inter RAO, of its electricity export, import and independent supplier licenses, VERT announced on Thursday, 30 June. The decision to revoke the import and independent supplier licenses, suspended in late May, was taken after the company failed to inform the watchdog by 26 June about its financial capability to continue its operation, and also because it’s still on the list, published by the Financial Crime Investigation Service, of Lithuanian companies subject to the existing Western sanctions imposed on Russia and its oligarchs.
German company opens centre for servicing military vehicles
Germany’s Rheinmetall and Krauss-Maffei Wegmann opened Lithuania Defense Services (LDS), a centre for servicing military vehicles, in the central town of Jonava on Wednesday, June 29. The centre will provide logistical and maintenance services for combat vehicles owned by Lithuania and its NATO allies, the Defence Ministry and the Lithuanian Armed Forces said.
Lithuania reports 460 new Covid-19 cases, one death
Lithuania recorded 460 new coronavirus infections and one death from Covid-19 over Tuesday, 28 June, the NVSC, the national public health centre, announced on Wednesday, 29 June. Some 378 of the new cases were primary and 82 were secondary. The number of Covid-19 patients in hospitals currently stands at 66, including two ICU cases. The 14-day primary infection rate has edged up to 122.8 cases per 100 000 people, with the seven-day percentage of positive tests up to 31 percent. More than 1 million people in Lithuania have tested positive with Covid-19 at least once.
Lithuania’s June inflation estimated at 20.5 percent
Lithuania’s annual inflation in June stood at 20.5 percent, according to the initial estimate released by the country’s statistics service, Statistics Lithuania, on Wednesday, 29 June. Annual inflation was mainly driven by the increases in the prices of food and non-alcoholic beverages, housing, water, electricity, gas and other fuel goods and services, transport goods and services. The estimated monthly change in consumer prices was 2.2 percent in June, compared with May.
Lithuania hit with intense cyber-attack
A cyber-attack on Monday, June 27, disrupted the operations of some public authorities and businesses in Lithuania. Officials say the major incidents have now been contained, but warn that attacks may continue. According to the National Cyber Security Center, the targets of the intense cyber-attack included the Secure National Data Transfer Network and other Lithuanian state institutions, as well as private businesses. A group calling itself Killnet and associated in the cyber world with Russia has claimed responsibility for the attack. It keeps posting information on its Telegram account about planned and executed Distributed Denial of Service (DDoS) attacks.
Week in Lithuania: Lithuania hit with intense cyber-attack, President meets with Spanish King Felipe VI
