Economy
Economy
Economy
Lithuanian PM says new labour code to bring more flexibility
Lithuanian Prime Minister Algirdas Butkevičius says that much-discussed draft amendments to the country’s Labour Code will be good both for employees and employers and will make the labour market much more flexible. […]
Economy
Private investor will have to save Air Lituanica, PM says
The Government will not invest in Air Lituanica, an airline owned by the Municipality of Vilnius, but Prime Minister Algirdas Butkevičius says a private investor has taken interest in the company. […]
Economy
Lithuanian PM says government will not revise spending due to lower GDP projections
Even though the Lithuanian central bank last week cut its GDP growth forecast for this year, Prime Minister Algirdas Butkevičius says that the government is not planning to revise the national budget, at least for now, adding that EU support should help cushion the impact of slower growth. […]
Economy
Economy
Lithuania and Poland establish Chamber of Commerce
The newly founded association the Polish-Lithuanian Chamber of Commerce has been officially launched this week. Its goal is to help businesses of the two countries to establish and strengthen business ties, promote cross-border cooperation, trade and investment. […]
Economy
Lithuanian consumers complain of high prices and too little competition
Food distribution, energy and pharmaceutical products, as well as telecommunications and the Internet, are the sectors where Lithuanians are most likely to have experienced problems due to a lack of competition, according to a Flash Eurobarometer survey. […]
Economy
Milda Dargužaitė appointed to head Barclays centre in Vilnius
Milda Dargužaitė, former managing director of Invest Lithuania, the government’s foreign investment promotion agency, has been appointed to head Barclays Technology Centre Lithuania (BTCL). […]
Economy
Economy
Lithuanian game appears on Google Play homepage
Lithuanian studios’ Nordcurrent popular mobile game Cooking Fever launched for Android devices and appeared on Google Play store homepage worldwide. […]
Economy
Bank of Lithuania revises down GDP growth forecast
The Bank of Lithuania forecasts that the domestic demand-driven Lithuanian economy will continue growing, albeit at a slower pace than previously expected. The worse outlook for the Russian economy, determined by persisting geopolitical tensions and falling oil prices, will have an essential influence on this change, the central bank said. […]
Economy
Lithuania should put off minimum wage hike amid worsening economic outlook, analyst says
Lithuania’s authorities should postpone plans for a minimum wage hike after the central bank on Friday cut its GDP growth forecast for this year, a senior expert at the Lithuanian Free Market Institute (LLRI) said. […]
Economy
Economy
Euro did not change Lithuanians’ household finance management habits
A telephone poll conducted by the company Provident Finansai revealed that the introduction of the euro did not change habits of personal financial management of many Lithuanians with lower income. […]
Economy
Lithuanian weekly Veidas awards Manager of the Year
The Lithuanian weekly Veidas elected Manager of the Year. The 2015 award went to Andrius Rupšys, head of the company Ruptela UAB. […]
Economy
Minimum-earning workers in Lithuania among worst-paid in Europe
Despite the fact that minimum wage in Lithuania was raised in the beginning of 2015 to 300 euros, Lithuania is still behind most European countries. According to statistics published by Eurostat, Lithuania is 20th among countries that reported about their minimum wage. Luxembourg is leading with 1922.06 euros as minimum monthly pay to workers. […]
Economy
Lithuanian company develops software allowing sophisticated eye movement analysis with ordinary webcams
Neurotechnology, a provider of high-precision biometric, robotics and AI technologies, introduced the SentiGaze Software Development Kit (SDK). The SentiGaze algorithm enables designers and developers to create applications that use off-the-shelf webcams to track eye movements and generate heatmaps based on how a user gazes at a monitor. Heatmaps can be used for applications such as analysis of websites or determining the effectiveness of online advertising. The SDK can also be used to develop interfaces for a number of other gaze-aware applications, including games and software that provides disabled people with some assistance in controlling their computers. […]
Economy
Lithuanian president approves of minimum wage raise
President Dalia Grybauskaitė approves of the proposal to raise minimum wage, noting that Lithuania has the lowest minimum monthly salary in the Baltic states. […]
Economy
30 percent more Lithuanian companies went bankrupt this February
In February 2015, compared to February 2014, the number of bankruptcies in Lithuania grew by 30 percent. Retails businesses gained the bankruptcy status more often than any other companies. […]
Economy
Lithuania sees second-largest fall of industrial producer prices in EU
In January 2015, Lithuania saw the second largest fall of industrial producer prices on the domestic market in the European Union (EU) as they dropped by 3.1 percent. The country also experienced the second biggest decrease of industrial producer prices on a year-on-year basis (-10.6 percent), both time surpassed only by the Netherlands, Eurostat, the statistical office of the EU, reports. […]