What's happening in Europe?
Lithuania
Verslo žinios reports on Lithuania's upcoming presidency of the EU, issues with the 'Rail Baltica' project, inflation rates, and economic news related to the Lithuanian market, including real estate and personal finance.
With only a few months left until Lithuania assumes the presidency of the European Union, a significant portion of the related competitions are already in full swing, indicating preparations are underway for this key role.
The disputes involving 'Rail Baltica' contractors and 'LTG Infra' have escalated to court, with claims amounting to €360 million related to awarded orders for the major infrastructure project.
The annual inflation rate in Lithuania for July stood at 5.4%, while I. Ruginienė commented that the country is unprepared for an increase in the retirement age.
The European stock market suggests that investors should not allocate more than 10-15% of their total investment portfolio to stocks, indicating a cautious approach to equity investments.
Fintech company 'Revolut' has been granted a banking license by French authorities, marking a significant step in its European expansion and operations.
An employer has been ordered to pay €1.7 million to a banker who was dismissed after taking parental leave, highlighting legal protections for employees on leave.
I. Ruginienė announced that a plan for supplementary pension indexation covering a two-year period is currently under development, affecting retirees' future income.
A company renowned for creating a symbol of eternal love is reportedly being sold for a nominal price, signaling the end of an era for the once-prominent brand.
In times of instability, individuals and businesses are increasingly looking towards past professional relationships with former employees and employers for support or opportunities.
The real estate market saw a slowdown in July, with significant buyers of apartments apparently pausing their spending, suggesting a cooling in the property market.
