Economy
Economy
Economy
The rise of Lithuania as a force in IT: Why Google and Nasdaq are investing here
The tech sector thrives in this Baltic state, and education in the STEM field is at the core of its growth. […]
Economy
Norwegian Devold to build EUR 15m factory in Lithuania
The Norwegian company Devold, which is engaged in making knitwear, is building a new plant in Panevėžys Free Economic Zone, Lithuania. […]
Economy
IT firm Baltic Amadeus receives German-Baltic Chamber of Commerce award
Baltic Amadeus has been named the winner in the 2015 German Business Awards organized by the German-Baltic Chamber of Commerce in Estonia, Latvia, Lithuania (AHK Baltic states). The Vilnius-based IT company is the tenth recipient of the annual award that was presented on 2 June. […]
Economy
SAS to launch new Oslo-Vilnius route in autumn
On 29 October, Scandinavian airlines SAS launches a new Oslo – Vilnius route. SAS passengers will be offered four weekly flights on this route, Vilnius Airport said. […]
Economy
Economy
IMF calls Lithuania’s economic comeback impressive
On 28 May, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with Lithuania. It considered and endorsed the staff appraisal without a meeting, the organisation reports. […]
Economy
Bank of Lithuania: Weight of export in GDP is increasing
The importance of exports in services for Lithuanian trade has been growing in recent years, and with the growth of the need for analytical information on this sector, the Bank of Lithuania updated the published country’s balance of payments statistical data and from now on it will publish information in accordance with the countries that are Lithuania’s key partners in the service trade, the central bank said in a statement. […]
Economy
Fewer banks project housing price increases in Lithuania
The expectations of commercial banks about real estate prices have changed essentially over a year – there have remained almost no banks projecting housing price increases, while last spring such banks represented more than a half, said the Bank of Lithuania. […]
Economy
Half of Lithuanian households would struggle to cover unplanned expenses
Although more than half of Lithuanians believe their knowledge of personal finance planning is “good” and a third think that it is at least “average”, as many as 45 percent of those surveyed would have difficulties to pay for unexpected expenses of up to EUR 300. […]
Economy
Business tendencies in Lithuania’s industrial sector worsen
Statistics Lithuania has carried out a business tendency survey. The survey of directors of companies has revealed that a less optimistic industrial production forecast in May negatively affected industrial business tendencies. […]
Economy
EUROC Lithuania – the largest Western Union site in the world
EUROC Lithuania celebrates the fifth birthday of the establishment. Within the past 4 years, EUROC expanded more than 5 times from the initial plan of 250 employees in 2010 to more than 1,300 employees today (2015 April). During this time, Western Union‘s (WU) centre in Lithuania has experienced the strongest growth in global WU scale. Now EUROC has become the largest WU site in the world, said Invest Lithuania, the government’s foreign investment promotion agency. […]
Economy
Air Lituanica to file for bankruptcy
Air Lituanica, an airline established by the city of Vilnius, plans to file for bankruptcy, it announced a week after grounding all flights. […]
Economy
Lithuanian startup Widerfi enters world’s largest accelerator
Widerfi, a startup established in Lithuania and formerly known as Cheap Data Communications, has joined MassChallenge – the World’s largest accelerator, and will compete for 500 thousand pounds and 1 million dollar prizes at the end of the year. Widerfi offers a new mobile internet model for travellers and is the first Lithuanian startup to participate in the accelerator which will be held simultaneously in Boston and London. […]
Economy
Economy
Finnish investment in Lithuania leads in job creation
Finnish investments generated more jobs in Lithuania than any other foreign investment in 2014. Finland made nearly 30 million euros worth of new direct investments last year, retaining its position from 2013 as the country’s eighth largest foreign investor. The most significant foreign investors in Lithuania were Cyprus, Latvia and Sweden. […]
Economy
AirBaltic to cover for bankrupt Air Lituanica for two weeks
On 26 May Air Lituanica, the airline owned by the city of Vilnius that went under last week, reached an agreement with AirBaltic to take over obligations to passengers who booked flights until 5 June. […]
Economy
President says that Lithuania does not necessarily need flagship airline
Lithuania does not necessarily need a flagship airline, President Dalia Grybauskaitė has said in comments about the recent collapse of Air Lituanica, an airline founded by the city of Vilnius. […]
Economy
Economic stumble did not halt growth of wages, economist says
Nerijus Mačiulis, chief economist at Swedbank Lithuania, says that although Lithuania’s economy contracted by 0.6 percent in the first quarter of this year, such an economic stumble nevertheless did not halt job creation or growth of wages: the number of employed people rose by 1.7 percent in a year, while an annual growth of average wages stood at 4.3 percent. […]
Economy
Vilnius to scrap municipal taxi company
Vilnius Mayor Remigijus Šimašius says that the municipality will comply with the decision of the Competition Council and exit taxi business, divesting itself of the taxi company Vilnius Veža created by the previous mayor. It is yet unclear what procedure will be applied to the company. […]