Austrian Group Amic Energy Management has completed its takeover of Lukoil petrol stations in Lithuania, Latvia and Poland, according to Ivanas Paleičikas, the head of Lukoil Baltija talking on LRT Radijas. Paleičikas said the Austrian […]
The first university endowment fund has been established in Lithuania by Vilnius University with an initial €1 million raised from supporters. Called the Vilnius University Foundation, the endowment fund was supported by Lithuanian laser companies […]
Lithuania’s taxation system is conducive to social inequality with a disproportionate burden falling on labour income, and taxes on capital half that of the European Union average, according to leading economists. […]
Inflexible labour relations and the absence of any immigration policy are the major obstacles to Lithuania’s economic growth, the country’s biggest employer association believes. The Lithuanian Confederation of Industrialists has drafted a report on business […]
Investors’ Forum handed out its annual awards to companies that contributed most to improving Lithuania’s investment and business environment. Danske Bank was awarded on Friday as “investor of the year” for its new IT service […]
Russian OMRP Spetsnaz units may have landed on the coast of Juodkrantė two years ago. This suggestion by the chairman of the parliamentary National Security and Defence Committee Artūras Paulauskas, has caused considerable turmoil and concern. […]
An International Atomic Energy Agency mission (IAEA) is coming to Lithuania for the first time to assess nuclear and radiation safety in Lithuania. IAEA experts will meet with Lithuanian authorities and business representatives, visit and […]
The number of new cars registered in Lithuania is increasing while the number of used cars has gone down. Last year 30,725 new motor vehicles were registered in Lithuania which is 20.8% more than in […]
Klaipėda State Seaport Authority is considering buying a dredger so it does not have to hire private contractors to dredge the port. The ship could cost between €25 and 28 million and has already been […]
While Lithuania is raising spending to strengthen its land forces, air forces have to do with the L-39 aircraft which are unsuitable for a serious combat and can only simulate air battles with slow and […]
On Thursday, the NordBalt electrical connections between Lithuania and Sweden shut down for the fourth time this year. The price of electricity for the next day shot up by 49.06%. The cause of the NordBalt […]
This week 55 years ago, Yuri Gagarin became the first man to journey into outer space. A landmark in the history of human exploration, it was also a feat in the political rivalry between the two super powers of the time. […]
Vilnius has received two bicycle stands designed to resemble a car from the Netherlands during the Bicycle Day. The stands were uncovered by the Mayor of Vilnius Remigijus Šimašius and the Kingdom of the Netherlands […]
Lithuania’s consumer price index rose 1.1% in March mirroring rises across the eurozone, up 1.2%, and the EU (up 1%), according to the latest figures from Eurostat. In March, Portugal (2.2%), Italy (2.1% ) and […]
Lithuania needs only three things to even surpass the Scandinavian countries, according to Cynthia Pasky, the head of Strategic Staffing Solutions which helps global companies to open service centres in Lithuania. “The first one – […]
Lithuanian businesses are decreasing savings and increasing investment as profits almost hit pre-crisis highs, with growing salaries and domestic consumption, and positive trends in Lithuania’s main export markets. Bank of Lithuania data shows that the […]
Lithuanian Energy Minister Rokas Masiulis met with Latvian Deputy Prime Minister Arvils Ašeradens and Estonian economy and infrastructure minister Kristen Michal in Riga to try to find a common position on the issue of electricity […]
Lithuanian Prime Minister Algirdas Butkevičius has accused police unions of “politicking” for criticizing the appointment of Tomas Žilinskas as the new minister of the interior. […]
Lithuanian construction industry revenue contracted 3.5% last year, to total €2.5 billion, Verslo Žinios reports. The contraction is largely down to fewer large-scale public contracts, which is why construction companies focusing on government projects took […]
Rūta Pentiokinaitė, the acting general manager of the Enterprise Lithuania nonprofit organisation, has won the competition to become the organisation’s official general manager. The Ministry of Economy announced Pentiokinaitė’s appointment on Wednesday. Enterprise Lithuania is […]
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