In January the prices of consumer goods and services declined by 1.5% in annual terms and by 1.3% in monthly terms. This was the biggest annual deflation since 2003. Average annual inflation was at 0%. […]
Organisations representing Lithuanian farmers have addressed President Dalia Grybauskaitė in a letter asking to take “urgent and decisive” actions to “save” Lithuania’s dairy sector. […]
Lithuania’s statistics office says that euro adoption could have been among the reasons behind a rise in service prices at the start of this year, but adds that the changeover had no impact on prices of goods. […]
Lithuania, which formally joined the European Stability Mechanism (ESM) in early February, will transfer the first 65.44-million-euro tranche of paid-in capital on Wednesday, a week after the Cabinet gave the green light for the payment. […]
On 5 February, Enterprise Lithuania hosted its annual startup event Startup Lithuania Overview 2014. During the event, the highlights of Lithuania Startup Ecocystem of 2014 were announced and awards were given to the teams that achieved the most in 2014, Enterprise Lithuania reports. […]
The decision by Maxima LT, Lithuania’s largest retailer that has been slapped with a 16.9-million-euro fine for anti-trust violations, to lower prices for over 1,000 products may have a positive effect on the economy, if it leads to increased competition among retail chains, Nerijus Mačiulis, the chief economist at Swedbank, said on Tuesday. […]
The Presidium of the Lithuanian Confederation of Industrialists (LPK) has confirmed on Tuesday that industrialists welcome the government’s plans to increase the minimum monthly wage once again in July. […]
The British company International Personal Finance (IPF) has acquired the UK-based instant loans company MCB Finance Group (MCB), which offers its services in the Baltic states under the brand Credit24. […]
Experts working on amendments to the Labour Code will examine a proposal to liberalize the existing dismissal procedure. […]
The airline Air Lituanica is expanding its business in Germany: as of 30 April the city of Hamburg will be added to the regular flight schedule with flights operated three times a week, the airline reports. […]
Due to the current geopolitical tensions and crisis, Lithuania’s exports to the region of the Commonwealth of Independent States (CIS) last year declined by EUR 158 million, however, at the same time exports to new markets grew by EUR 176 million. […]
The Lithuanian company Klaipėdos Nafta in January reloaded 632,000 tons of oil products into its storage tanks of oil terminal and the Subačius fuel base, more by 59.2 percent compared to January 2014, when 397,000 tons were reloaded, the company said in a report. […]
Compared to December 2014, the number of bankruptcies in January increased by a third, while the number of distraints decreased by a third. […]
Silicon Valley serial entrepreneur Michael Baum is coming to Kaunas University of Technology (KTU) to deliver a lecture and a pitching event. Baum is a CEO of 100 million worth investment company and startup academy FOUNDER.org which invests in student entrepreneurs from the world’s top universities and helps them build great companies. His lecture ‘The 8 Secrets to Building a Billion Dollar Company’ will take place on Tuesday 17 February. […]
Most of the winners in Lithuania’s first Top Employer awards, held in Vilnius this week, were foreign investors, Invest Lithuania reports. […]
As Belarus has joined the Eurasian Economic Union, companies developing their production in this country will enjoy new opportunities, however, businesses exporting to Belarus or transit of goods should expect certain difficulties, says Evaldas Ignatavičius, Lithuania’s ambassador to Belarus. […]
Lithuania’s economy is expected to maintain growth of 3.0 percent in 2015, despite a fall in exports to Russia. Domestic demand is set to remain the main growth engine, as employment and real disposable incomes rise. Inflation stays low and public finances improve slightly, the European Commission said in a statement. […]
Disproving the widely popular opinion, startups in Lithuania are no longer a sphere for students. The number of entrepreneurs with higher education has doubled in the last two years, while their average age has increased by two years. […]
Global Game Jam is an annual, global marathon for game developers and enthusiasts also held in Lithuania. The event took place across three locations in Lithuania on January 23-25. The purpose of the marathon is to give a platform for professional game developers and enthusiasts. Event is seen as a natural space to meet up, build new relationships, share ideas and craft innovative games. […]
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