No Picture
Economy

Wages in IT determined by productivity, not change of currency

The euro which will shortly replace the litas will have a positive effect on the IT services market of Lithuania, however, it will hardly bring any significant changes. Antanas Ursulis, general manager of CSC Baltic which provides IT services, says that the euro will not bring any dramatic changes to working conditions or expectations of employees; nevertheless, the new currency will help Lithuania enhance its image as a reliable and attractive country for investors. […]

Economy

Swedish shop equipment producer to build new factory in Kaunas

AB ITAB Novena, a Swedish producer of equipment for shops, will build a new 10,000-square-metre factory close to its current plant in Kaunas. Construction of the new facility, which will receive LTL 10 million (EUR 2.9 million) of investment, will begin next summer, Invest Lithuania said. […]

No Picture
Economy

Lithuanian business start-ups to expand despite slowing economy

With the country’s economy growing slower than expected, most business start-ups in Lithuania are taking advantage of the situation in the domestic market. While the country’s largest companies are estimating the consequences of Russia’s embargo, Lithuanian business start-ups are planning to further increase their sales volumes within the coming six months and recruit new employees to satisfy the growing demand, the bank DNB said in a statement. […]

Economy

Invest Lithuania awarded for professionalism and success

The 16th annual awarding of St. Christopher’s statues took place at Vilnius Town Hall on 18 December. The statutes, which are the highest honour awarded by Vilnius Municipality, were presented to the city’s most deserving people and businesses. At the ceremony, the foreign investment development agency Invest Lithuania was awarded for its professionalism and for attracting foreign investment to Vilnius, the agency said. […]

Danielis Libeskindas
Economy

Libeskind unveils designs for new leisure centre in Vilnius

The City of Vilnius, together with private investors and the world renowned architect Daniel Libeskind have revealed the design for Vilnius Beacon at the Liepkalnis Ski Hill. The project is a collaboration between the City of Vilnius and Daniel Libeskind to create a new tourist destination and aid in the transformation of the city as a centre of the Baltic region, the Vilnius City Council said. […]

LitPol Link
Energy

Litgrid borrows EUR 65m from European Investment Bank

On 18 December 2014, the Lithuanian electricity transmission system operator Litgrid and European Investment Bank (EIB) signed an agreement on a EUR 65m loan for a maximum period of sixteen years. The funds will be used to partially finance implementation of LitPol Link project and the new power line from Alytus to Kruonis PSHP (Pumped Storage Hydroelectric Plant), Litgrid said in a statement. […]

Algirdas Butkevičius
Foreign affairs

Lithuanian prime minister discusses cooperation with China in Belgrade

While on a working visit in Belgrade, Lithuanian Prime Minister Algirdas Butkevičius met with Prime Minister of the People’s Republic of China, Li Keqiang, to discuss possibilities for closer political and economic cooperation, development of relations in transport, agriculture, and education, as well as China + 16 format and its outlook for the future, the prime minister’s press service said. […]

Bloomberg terminal. KTU photo
Economy

KTU to offer students access to Bloomberg Professional Service in new financial markets lab

Kaunas University of Technology (KTU) has signed an agreement with leading global financial information company Bloomberg to install a financial markets lab, the first of its kind in Lithuania and the Baltic region. The contract will allow KTU students to access the Bloomberg Professional service, which has more than 320,000 leading business and financial subscribers worldwide. […]

Aistė Diržiūtė
Culture

Lithuanian actress selected for European Shooting Stars

The European Film Promotion (EFP) has announced that Lithuanian actress Aistė Diržiūtė, 23, has been shortlisted among the ten talented newcomer actors selected for the European Shooting Stars 2015, the Lithuanian Film Centre said. […]