US congressman Mac Thornberry
Foreign affairs

US Congress delegation to visit Lithuania

A delegation of US congressman will arrive on a visit to Lithuania this week, on 2 April. […]

On the Orange Bike in Vilnius on a summer evening
Culture

Orange bikes’ season begins in Vilnius

Vilnius city bike self-service system CycloCity Vilnius will start this season on 1 April. There are 37 self-service terminals installed in Vilnius. The stations are distributed in close proximity to each other in Vilnius city, Vilnius Tourist Information Centre reports. […]

During IKEA shop opening in Vilnius
Economy

Household consumption is becoming increasing factor of economic growth

With declining export and weakening economic growth, household consumption is becoming an ever increasing factor of economic growth. Having reached its peak ever since late 2007, consumer confidence provides hope that the negative influence of declining export to the Commonwealth of Independent States (CIS) may be at least partially counterbalanced by growing consumption. On the other hand, it seems that Lithuanians will tend to save more this year, says Chief Economist of Swedbank, Vaiva Šečkutė. […]

Fitch Ratings
Economy

Fitch gives Lithuania A-, outlook stable

Fitch Ratings has affirmed Lithuania’s Long-term foreign and local currency Issuer Default Ratings (IDRs) at ‘A-‘. The outlooks are stable. The issue ratings on Lithuania’s senior unsecured foreign and local currency bonds have also been affirmed at ‘A-‘. The Country Ceiling has been affirmed at ‘AAA’ and the Short-term foreign currency IDR at ‘F1’, Reuters quotes the rating agency’s statement. […]

Euros
Economy

In 2014, hourly labour cost in Lithuania stands at EUR 6.5

In 2014, average hourly labour costs in the whole economy (excluding agriculture and public administration) were estimated to be EUR 24.6 in the European Union and EUR 29.2 in the euro area. However, this average masks significant gaps between EU Member States, with the lowest hourly labour costs recorded in Bulgaria (EUR 3.8), Romania (EUR 4.6), Lithuania (EUR 6.5 or LTL 22.3) and Latvia (EUR 6.6) and the highest in Denmark (EUR 40.3), Belgium (EUR 39.1), Sweden (EUR 37.4) and Luxembourg (EUR 35.9), Eurostat, the statistical office of the European Union reports. […]

German flag
Defence

Lithuania, Germany to step up co-op in defence industry

At a meeting in Berlin on 26 March, Lithuania’s Defence Policy Director of the Ministry of National Defence Dr. Vaidotas Urbelis and Director General for Security and Defence Policy of the Federal Ministry of Defence Geza Andreas von Geyr underlined that Lithuania and Germany saw each other as essential partners for defence cooperation, the Lithuanian ministry reports. […]

Investment
Economy

World’s largest climate data provider to set up R&D unit in Lithuania

StormGeo, the biggest global provider of decision support solutions and services for weather-sensitive operations for the oil and gas, wind energy and shipping industries, is establishing a product development office in Vilnius, the agency Invest Lithuania reports. […]

Latvian President Andris Berzins
Uncategorized