As Lithuania is to become the 19th member of the euro zone on 1 January, Lithuanian Finance Minister Rimantas Šadžius admits that he has not yet got accustomed to the euro and price tags in two currencies still puzzle him. […]
Food Safety and Inspection Service (FSIS) of the Department of Agriculture of the USA published an official offer to include Lithuania into the list of countries from which imports of meat and meat products are permitted and submitted this proposal to public discussion, Lithuania’s State Food and Veterinary Service said. […]
The euro which will shortly replace the litas will have a positive effect on the IT services market of Lithuania, however, it will hardly bring any significant changes. Antanas Ursulis, general manager of CSC Baltic which provides IT services, says that the euro will not bring any dramatic changes to working conditions or expectations of employees; nevertheless, the new currency will help Lithuania enhance its image as a reliable and attractive country for investors. […]
Lithuanians are trying to get rid of cash litas before the official date of the euro adoption. On 29 December alone LTL 27 million (EUR 7.8 million) was deposited in SEB Bank‘s ATMs. This is nearly four times more than on an average day. On 29 December the number of customers in the bank’s branches was also twice the average. […]
Lithuania’s Minister of Finance Rimantas Šadžius says that if the economy and wages grow, then raising the minimum monthly salary to EUR 325 from 1 July will not have a negative effect on public finances. […]
Adopting the euro will benefit Lithuania’s domestic businesses and households and will also help lure more foreign investment to the country, Prime Minister Algirdas Butkevičius has said. He has recalled the initial difficulties of convincing other politicians to have the euro which almost cost him his post. […]
AB ITAB Novena, a Swedish producer of equipment for shops, will build a new 10,000-square-metre factory close to its current plant in Kaunas. Construction of the new facility, which will receive LTL 10 million (EUR 2.9 million) of investment, will begin next summer, Invest Lithuania said. […]
Vilnius University and CSC Baltic signed a partnership agreement that will ensure partnership with individual faculties and the university as a whole. The agreement was signed by the interim rector of Vilnius University Professor Juras Banys and the CEO of CSC Baltic Antanas Ursulis, Invest Lithuania said. […]
Lithuania’s commercial banks have already sub-frontloaded nearly one-fifth of euro coins and banknotes to domestic companies, the governor of the central Bank of Lithuania has said. […]
Estonian construction concern AS Merko Ehitus group informed the Tallinn Stock Exchange of getting a EUR 15 million contract in Lithuania. […]
The Lithuanian Programme for Renovation of Multi-Apartment Buildings has reached a strategic turning-point. The Programme, which was funded by the state budget and the European Union Structural Funds till now, has found a private investor – Šiaulių Bankas. The first partner of the European Investment Bank in the country in providing preferential renovation loans, Šiaulių Bankas will contribute EUR 20 million of its own resources to be channelled through the JESSICA Holding Fund, the bank said in a statement on 23 December. […]
On 23 December, Philip Morris announced the launch of a new LTL 137 million (EUR 40 million) investment project to expand its factory in Klaipėda. The expansion and modernisation of the factory, which is already set to start this year, will increase production capacity by 40 percent. All extra production will be exported, primarily to the highly quality exigent market of Japan. The investment will create 40 new jobs at the factory and provide more orders for local Lithuanian service suppliers and business partners. Currently, more than 90 percent of Klaipėda-based factory production is exported to around 60 global markets, Invest Lithuania said. […]
The fall session just completed by the Lithuanian parliament is historic, as it adopted a package of laws ensuring Lithuania‘s accession to the euro area, Parliamentary Speaker Loreta Graužinienė says. […]
A court in the Russian city of Murmansk on Friday slammed the captain of the detained Lithuanian fishing vessel, the Jūros Vilkas (Sea Wolf), with a fine of 4 million roubles (around EUR 59,000), representatives of the ship’s owner, Arctic Fishing, told BNS. […]
The network of Nordic Choice Hotels, which includes Comfort Hotel LT – Rock’n’Roll Vilnius located in Lithuania’s capital, will allow to pay for services using Bitcoins, a digital currency. […]
A survey of industrial companies in Lithuania has showed that 42 percent of these companies in Lithuania received less investment than in the previous year. […]
With the country’s economy growing slower than expected, most business start-ups in Lithuania are taking advantage of the situation in the domestic market. While the country’s largest companies are estimating the consequences of Russia’s embargo, Lithuanian business start-ups are planning to further increase their sales volumes within the coming six months and recruit new employees to satisfy the growing demand, the bank DNB said in a statement. […]
A survey of small and medium-sized businesses commissioned by Lithuania’s Central Credit Union (LCKU) and carried out by Spinter Tyrimai has shown that 43 percent of respondents think that the euro adoption will be beneficial for long-term business development. […]
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