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. […]
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. […]
In the second quarter of 2015 Investors’ Confidence in Lithuania’s economic prospects grew significantly – CEOs of companies investing in Lithuania expect further positive changes in business environment. […]
Vilnius Mayor Remigijus Šimašius says the Lithuanian capital in essence remains without roundtrip flights after airline Air Lituanica terminated its operations. A special flight promotion fund should be created in order to attract new air carriers to Vilnius. […]
Estonian national carrier Estonian Air will make 11 round trip flights per week on the Tallinn-Vilnius route starting on Monday instead of the current six round-trip flights per week after Air Lituanica announced of stopping operations. […]
Lithuanian Government Chancellor Alminas Mačiulis on Friday called for more liability for airplane owners for failure to provide appropriate on-board safety measures. […]
Lithuanian startup arena has been heating up in recent years. Friendly business environment, relatively low taxes, advanced IT infrastructure, favourable relocation conditions have mightily influenced the increasing number of startups, foreign investment and community events. […]
Air Lituanica, Lithuanian airline owned by the municipality of Vilnius, has announced that it is stopping operations as of Saturday. […]
The Seimas of Lithuania has adopted amendments to the Law on Tourism to reinforce consumer (tourist) protection and monitoring of tourism service providers, the press service of the Lithuania parliament said. […]
Managers of Lithuanian companies are optimistic about anti-bribery and anti-corruption (ABAC) measures applied by companies. However, almost half of them say that corruption is widespread. […]
In the first four months of 2015 the State Social Insurance Fund (Sodra) budget revenue was at its highest since its establishment and totalled EUR 945.7 million. […]
Lithuania has received recommendations from the European Commission on the most pressing issues in the economy that need addressing. Disturbingly, over 30 percent of people in Lithuania face poverty risk, labour taxes are punishing, while levies on wealth – less detrimental to economic growth – are all but non-existent. Experts say the first steps would be introducing tax on real estate and cars. […]
In the first quarter of 2015, the volume of construction work carried out in Lithuania, seasonally and working day adjusted, was on the increase, Statistics Lithuania said. […]
Financial institutions operating in Lithuania consider the risk arising from the prolonged period of low interest rates as increasingly significant, although, with the persisting geopolitical tensions, the risk related to a likely exacerbation of Russia‘s and Ukraine‘s conflict and related consequences has been assessed as the major one, shows the survey conducted by the Bank of Lithuania. […]
Lithuanian courts can decide whether or not to recognize a Stockholm arbitration award in a dispute between the Lithuanian Energy Ministry and Russia‘s gas giant Gazprom, the European Court of Justice (ECJ) ruled on Wednesday. […]
On May 12, 2015 Lithuanian State Tourism Department and the Lithuanian Embassy in Sweden, together with partners in Stockholm, held an event presenting Lithuanian tourism opportunities to Swedish tourism media. […]
Work on the Rail Baltica section between Kaunas and Lithuania’s border with Poland is going smoothly, Prime Minister Algirdas Butkevičius assured on Tuesday. […]
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