Economy
Norway’s Storebrand opens new training centre in Vilnius
Norwegian banking and insurance company Storebrand officially launched its brand new training centre in Vilnius. […]
Economy
Economy
Port CEO: Expansion will make Klaipėda more competitive
Expansion of the Lithuanian port of Klaipėda will make it more competitive vis-à-vis other ports in the region as it will be able to handle larger ships and increase reloadings simultaneously, the port’s CEO has said. […]
Economy
Lithuania signs EUR 100m loan agreement with NIB
The Nordic Investment Bank (NIB) and the Republic of Lithuania have signed a loan agreement, totalling EUR 100 million, with a maturity of 20 years, to improve energy efficiency in public and residential buildings, Lithuania’s Ministry of Finance reports. […]
Economy
Italy’s Gemmo will not upgrade street lighting networks in Vilnius
Italy’s railway, lighting and other infrastructure development and maintenance services provider Gemmo will not upgrade street lighting networks in the Lithuanian capital as it has failed to find sources of financing, Vilnius Mayor Remigijus Šimašius has said. […]
Economy
Nukem drops EUR 1.8m claim against Lithuanian construction company
Russian-owned German company Nukem, former main contractor in the Ignalina Nuclear Power Plant‘s multi-billion-litas closure projects, has dropped its 1.81-million-euro creditor‘s claim against Ranga IV as part of amicable deal with the Lithuanian building company in bankruptcy. […]
Economy
Economy
Lithuanian cheese to be exported to Brazil
Lithuania’s State Food and Veterinary Service (VMVT) has received a confirmation from Brazil‘s Ministry of Agriculture, Livestock and Food Supply regarding a permit to export Lithuanian cheese Džiugas to Brazil. […]
Economy
Major structural shifts pushed Lithuania closer to advanced economies over last decades
The structure of Lithuania’s economy has clearly changed over the last two decades, an economist says. […]
Economy
Nordic Investment Bank to provide long-term loan to Lithuania for buildings renovation
On Thursday, 23 April, the Board of Directors of the Nordic Investment Bank (NIB) confirmed that the bank will issue a loan of EUR 100 million to Lithuania to finance its Public Sector Energy Efficiency and Housing Renovation programmes. According to the Ministry of Finance, the deal will be inked in the nearest future. […]
Economy
Klasmann-Deilmann to expand production capacity in Lithuania
The Germany-based Klasmann-Deilmann Group has announced EUR 11 million worth of investments in Klaipėda County, Lithuania. The company is to build a further state-of-the-art production line for manufacturing peat products and growing media for the worldwide commercial-horticulture sector. Its intended expansion of an existing factory at the Šilutė site includes plans for high-performance mixing, screening and packing facilities, a research laboratory and an experimental greenhouse for product development. This will involve the creation of at least 20 new jobs over the next three years. […]
Economy
Travel agency Voyage-Voyage inflicts EUR 285,000 in damages
After director of travel agency Voyage-Voyage, which ceased operations, submitted information about the company’s liabilities, it transpired that 184 tourists incurred damages totalling EUR 285,000. […]
Economy
Lithuanian company acquires Latvian tea producer Inteka
The Kaunas-based tea and coffee wholesale trade company Gemaga has acquired Latvian tea producer Inteka, the holder of the popular Mozums trademark that controls around one-third of the Latvian market, as Vz.lt reported on Monday. The value of the deal has not been disclosed, but the Lithuanian portal indicates that the company’s financial indexes have been declining for the past several years. […]
Economy
Lithuanian government to raise minimum pay to EUR 350
The minimum monthly wage in Lithuania will be increased by 25 euros to 325 euros in July and may be raised by a further 25 euros to 350 euros early in 2016, Prime Minister Algirdas Butkevičius has said. […]
Economy
German entrepreneurs anticipate good opportunities in the Baltic States
Despite the Ukraine conflict, German companies continue to believe in the good prospects of the three Baltic markets. Nine out of ten German investors participating in the recent survey of the AHK Baltic States would re-invest in the region. […]
Economy
Carlsberg Group vice president to share ideas on innovation in Lithuania
The Danish Chamber of Commerce this year again is organising Innovation Conference INNO’15 on 21 May, at Litexpo. This year, the conference is dedicated to developing business model innovation. The keyonote speaker will be Julia Isdale, vice president of Carlsberg Group responsible for global innovations. […]
Economy
Lithuanian travel agency stripped of licence
On Monday, by order of the head of Lithuania’s State Tourism Department (VTD), a tour operator’s certificate of the travel agency Voyage-Voyage was revoked. […]
Economy
Economy
Lithuania’s extra-EU exports down 19 percent
According to Eurostat, the statistical office of the European Union, in January-February 2015, Lithuania’s intra-EU exports of goods stood at EUR 2.1 billion, up 2 percent compared with January-February 2014. Extra-EU exports of goods stood at 1.2 billion, down 19 percent compared with January-February 2014. […]
Economy
Lithuania records EU’s second largest decrease in house prices
In the last quarter of 2014, Lithuania saw the second largest decrease in housing prices in the European Union (EU) – it amounted to -4.3 percent, Eurostat, the statistical office of the EU, reports. […]
Economy
German companies top foreign investors in Lithuanian manufacturing
Newly released data shows that German firms are the largest foreign direct investors in Lithuania’s manufacturing industry. […]