Economy
Ten times fewer millionaires in Lithuania after euro adoption
After Lithuania adopted the euro, the number of millionaires – i.e., people with assets of over one million – in the country has gone down ten times. […]
Economy
Economy
Industrial producer prices in Lithuania down 1.1 percent
In November 2014, compared with October 2014, industrial producer prices1 fell by 0.3 percent in the euro area and by 0.4 percent in the European Union. In October prices decreased by 0.3 percent in the euro area and by 0.5 percent in the EU, Eurostat, the statistical office of the European Union said. […]
Economy
Lithuania ranked 16th according to ICT skills
According to the latest report by the International Telecommunications Union (ITU), Lithuania stands 40th in the world according to its development in information and communications technologies (ICT). Country’s best position (16th globally) is according to ICT skills; that measure the share of the population with higher education and the overall level of adult literacy, Invest Lithuania said. […]
Economy
Non-residents own 24 percent of total shares issued in Lithuania
In the third quarter of 2014, the annual growth rate of Lithuania’s financial assets (5 percent) exceeded that of liabilities (3 percent). In Q3 2013, the said growth rates accounted for 3 and 1 percent respectively. Net acquisition of financial assets in all sectors of Lithuania’s economy, except for households, was positive, the Bank of Lithuania reports today. […]
Economy
Klaipėdos Nafta reloaded 640,000 thousand tonnes of oil products in December
State company Klaipėdos Nafta during December 2014 reloaded 640 thousand tonnes of oil products into its storage tanks, greater by 68.4 percent than during December 2013, when 380 thousand tonnes were reloaded. During December 2014 more oil products from the main client of the company Orlen Lietuva as well as from refineries of the Republic of Belarus were reloaded, compared to transhipment during December 2013, also during December 2014 additional heavy oil products from refineries of Russian Federation were reloaded, Klaipėdos Nafta announced. […]
Economy
Vilnius-Paris flights delayed due to anti-terrorist operation
As two runways of Charles De Gaulle Airport have been closed due to anti-terrorist operation near Paris, airline Air Lituanica flights to Vilnius and Paris are falling behind schedule. […]
Economy
Economic comment: All hail the deflation!
In the last month of 2014 the prices of consumer goods and services declined by 0.3% in annual terms and by 0.6% in monthly terms. On average consumer prices were 0.1% higher in 2014 than in 2013. […]
Economy
Euros exceed litas in cash circulation in Lithuania
The amount of euro cash in circulation in Lithuania has already exceeded the amount of litas cash in the market, the governor of the central Bank of Lithuania has said. […]
Economy
Finance minister says Lithuania needs euro
Lithuania has become the eurozone’s 19th member, but only half of Lithuanians are in favour of the new currency. That will change, Finance Minister Rimantas Šadžius told DW, the Ministry of Foreign Affairs reports. […]
Economy
Lithuanian police open 30 investigations into euro counterfeits
Over the first week of this year, the Lithuanian police opened about 30 pre-trial investigations in relation to counterfeit euros. […]
Economy
Lithuanian PM supports plans to regulate relations between farmers and dairy producers
Prime Minister Algirdas Butkevičius has said he supports the plans of Agriculture Minister Virginija Baltraitienė to pass a temporary law that would regulate relations between dairy producers and processors. […]
Economy
Lithuanians’ support for euro rose to 60 percent
The society’s support for the euro in Lithuania rose 7 percentage points in December from November to reach 60 percent, according to a survey released by the Bank of Lithuania on Thursday. […]
Economy
Weak euro benefits Lithuania, President Grybauskaitė says
The weakening of the euro against the US dollar is beneficial to Lithuania as its products become more competitive in third countries, President Dalia Grybauskaitė said on Wednesday. […]
Economy
Record number of foreign companies established in Lithuania in 2014
2014 proved to be a record year for Invest Lithuania, the nation’s foreign investment development agency, with 29 foreign companies deciding to establish or develop their businesses in Lithuania. Altogether almost 2,000 new jobs are planned over the next three years. […]
Economy
Eurobarometer survey traces Lithuanians’ transition from litas to euro
The latest Eurobarometer survey shows that Lithuania’s transition to the euro has been proceeding successfully and smoothly. No major violations were recorded in banks and retail trade networks, while cash payments in litas have reduced in the first days of January. […]
Economy
Euros account for one third of cash in Lithuania
Euros already account for nearly a third of all cash money in circulation in Lithuania, says Vitas Vasiliauskas, governor of the Bank of Lithuania. […]
Economy
Lithuanian Railways under EC anti-trust scrutiny over dismantling track to Latvia
If the European Commission decides that Lietuvos Geležinkeliai (Lithuanian Railways, or LG) limited competition in the rail market by removing a railway track to Latvia, Lithuania might consider rebuilding the track or turning to the European Court of Justice, Transport Minister Rimantas Sinkevičius said on Tuesday. […]
Economy
Economy
Lithuanian retail chains risk fines for giving change in old currency after euro adoption
Over the first four days after Lithuania’s euro adoption, approximately 160 consumers file complaints with the State Consumer Rights Protection Authority (VVTAT) about violations of the Euro Adoption Law. […]
Economy
Forum Business Magazine: Building a back office in the Baltics
Moving operations to low-salary Baltic countries became popular in the 1990s. Now, translocation has changed in nature: it focuses more on services than on production. The data here speaks for itself. […]