logo
Lithuania coalition partner threatens to quit unless PM resigns

Lithuania coalition partner threatens to quit unless PM resigns

Reuters2 days ago
VILNIUS, July 30 (Reuters) - A junior party in Lithuania's government on Wednesday threatened to quit the ruling coalition unless Social Democratic Prime Minister Gintautas Paluckas resigns by August 18 over business ties to a company owned by his sister-in-law.
Without the centre-left For Lithuania party, which won 14 seats in the 2024 election, the Social Democrats and another junior partner, Nemunas Dawn, would be left with only 71 seats, the bare minimum required for a majority in the 141-seat assembly, and vulnerable to any further defections.
The prime minister's office said Paluckas was on holiday, and declined to comment further. He has denied any wrongdoing.
Opposition parties in the Baltic country have criticised Paluckas for business dealings in which a company he co-owns sold electric batteries to one owned by his sister-in-law in a deal financed by a government agency.
Last week, the sister-in-law's company said it would decline the funding from the government, but denied wrongdoing. It said it made purchases from Paluckas' business following an open tender.
Saulius Skvernelis, the leader of For Lithuania, on Wednesday gave the prime minister a deadline to resign by the next coalition leaders' meeting, which is scheduled for August 18.
"(If Paluckas stays) we will not remain in the coalition," Skvernelis told reporters.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Pearson sees growth accelerating in the second-half
Pearson sees growth accelerating in the second-half

Reuters

time9 minutes ago

  • Reuters

Pearson sees growth accelerating in the second-half

LONDON, Aug 1 (Reuters) - British education company Pearson (PSON.L), opens new tab said it expected growth to step up in the second half after it reported a 2% rise in both underlying sales and adjusted operating profit for the six months to end-June on Friday. "We are making rapid progress with bringing AI-powered products to market and are scaling and enhancing our enterprise business with a range of new partnerships and deals," Chief Executive Omar Abbosh said. The company had expected low single-digit underlying sales growth in the first half.

Amazon shares drop after cloud unit results disappoint
Amazon shares drop after cloud unit results disappoint

Reuters

time9 minutes ago

  • Reuters

Amazon shares drop after cloud unit results disappoint

LONDON, Aug 1 (Reuters) - Amazon shares (AMZN.O), opens new tab fell 7% on Friday in Europe after the company delivered an upbeat outlook for third-quarter sales, but missed expectations for its cloud computing unit, after its competitors easily beat Wall Street forecasts. Shares in Frankfurt dropped by more than 7% in opening trade. Amazon stock plunged by more than 7% after-hours on Thursday, having ended the regular trading session up 1.7% at $234.11.

Indian factory growth hits 16-month high, business outlook darkens, PMI shows
Indian factory growth hits 16-month high, business outlook darkens, PMI shows

Reuters

timean hour ago

  • Reuters

Indian factory growth hits 16-month high, business outlook darkens, PMI shows

BENGALURU, Aug 1 (Reuters) - Indian manufacturing growth expanded at its fastest pace in 16 months in July, driven by robust demand, but business confidence fell to a three-year low amid competitive pressures and inflation concerns, a survey showed on Friday. The HSBC India Manufacturing Purchasing Managers' Index, compiled by S&P Global (INPMI=ECI), opens new tab, rose to 59.1 in July from 58.4 in June, slightly below a preliminary reading of 59.2. The index remained well above the 50-mark separating growth from contraction. New orders increased at the fastest pace in nearly five years, buoyed by favourable market conditions and marketing efforts. That propelled output growth to a 15-month high. International demand continued to support overall sales although growth in export orders moderated from June's more than 17-year high. Despite the strong performance, manufacturers' optimism fell to its lowest level since July 2022. Companies cited mounting competition and inflation concerns as key challenges. The contrast between present conditions and future outlook was reflected in hiring patterns with employment increasing at the weakest pace since November 2024. A substantial 93% of manufacturers surveyed indicated their current workforce was adequate for production needs. A recent Reuters poll of independent economists highlighted growing employment concerns. Official government data showed an unemployment rate of 5.6% in June; however, some economists have questioned the accuracy of the measurement methodology. Inflation intensified in July with input costs rising faster as manufacturers faced higher prices for some raw materials. Companies raised selling prices for the 10th consecutive month as they leveraged strong demand to pass on costs. The Reserve Bank of India is poised to hold its key policy rate at 5.50% at its meeting next week, but any acceleration in inflation could affect the outlook on monetary policy. Adding to the uncertainty, U.S. President Donald Trump plans to impose 25% tariffs on Indian goods starting on Friday, a move that could drag on the export sector.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store