Economy
Economy
Economy
Lithuanian truck drivers in severe conditions at Russian border
Lithuanian transport companies fear that their trucks will have to wait at the border with Russia from several weeks up to a month, as the rate at which vehicles clear customs and are allowed to cross into Russia remains extremely low, the vice-president of the national road carriers association Linava said on Friday. […]
Economy
38 Lithuanian travel agencies warned over insufficient equity capital
The State Tourism Department has issued written warnings to 38 travel agencies because they do not meet a provision of the Law on Tourism requiring to keep equity capital of at least half of a company’s authorised capital. […]
Economy
Lithuanian PM suggests targeted immigration as solution to labour shortage
As individual economy sectors of Lithuania have started feeling shortages of labour, Prime Minister Algirdas Butkevičius says he is in favour of holding discussions on targeted labour immigration. […]
Economy
Lithuanian Tourism Department to introduce licensing of travel agencies
On Wednesday the Government approved the proposal of the Ministry of Economy to obligate the State Department of Tourism to establish licensing procedures for travel agencies. […]
Economy
Lithuanian carriers’ association suggests another explanation over problems at Russian border
Julius Misiūnas, deputy president of the Lithuanian National Road Carriers’ Association Linava, says that Russia is applying stricter inspection rules to Lithuanian trucks at the border because Russia had refused to participate in the TIR system activities and so no longer has means to ensure transparent transportation of goods into the country. […]
Economy
European Commission is aware of Russian restrictions for Lithuanian carriers, Ušackas says
The European Commission has been informed abut the restrictions imposed by Russia on Lithuanian carriers who are subjected to strict customs checks, European Union Ambassador to Russia Vygaudas Ušackas said on Thursday. […]
Economy
Russia’s customs measures could shave off up to 4 percent of Lithuania’s GDP
Lithuania’s gross domestic product could fall by four percent if all exports to Russia came to a halt and some of logistic companies went bankrupt, Prime Minister Algirdas Butkevičius said on Thursday, adding that the likelihood of the worst-case scenario is low. […]
Economy
Lithuanian milk producers to receive state aid in early December
The National Paying Agency (NMA) under the Ministry of Agriculture is going to distribute transitional national aid to diary producers on 1-2 December. […]
Economy
Snoras Bank loan portfolio to be sold to international consortium
Snoras bankruptcy administrator Gintaras Adomonis has finished the formal procedures of the sale of Snoras loan portfolio as well as indicated the best offer and thus the potential investor. […]
Economy
Lithuania to raise excise duty on tobacco and alcohol next March
The parliament of Lithuania has adopted amendments to the Law on Excise Duty. The bill introduces higher excise duty rates on beer, wine and other fermented beverages, intermediate products, ethyl alcohol, cigarettes, cigars and cigarillos starting in March 2015. […]
Economy
Economy
Economists warn Russia’s new restrictions might affect Lithuania’s entire economy
If stepped-up checks of Lithuanian trucks at the Russian border remain in place for an extended period of time, Lithuania’s transport sector would suffer substantial losses, which may hit hard the entire national economy, the economists have warned, adding that new Russia’s restrictions will undermine Lithuania’s competitive edge in the region, as far as re-exports of goods from the West to Russia are concerned. […]
Economy
Economy
Economist expects Russia’s transport blockade to be short-lived
Moscow’s border restrictions for Lithuanian-registered cars and trucks are a short-lived measure, since a long-term blockade would backfire on Russia, according to Nerijus Mačiulis, the chief economist at Swedbank Lithuania. […]
Economy
Which Baltic country has the best investment climate in the region?
Estonia, Latvia and Lithuania are generally known for being attractive to foreign investors due to favourable geographical location, stable economy and educated labour force. Nevertheless, every business is looking for the best conditions. To get detailed view on the investment climate in all three Baltic states, Estonian Chamber of Commerce in Lithuania together with the Estonian Embassy in Vilnius, Law firm VARUL and UAB Grant Thornton Rimess organizes a seminar on tax and legal aspects of doing business in the Baltics on 26 November, organisers of the Seminar announced. […]
Economy
Hauler association concerned about situation at Lithuania-Russia border
A slowdown in checks of Lithuanian vehicles at the country’s border with Russia is a matter of concern, Algimantas Kondrusevičius, president of Linava, the Lithuanian road carriers’ association, has said. […]
Economy
Lithuania’s preparations to adopt euro seem well on track – European Commission
Lithuania’s preparations for the adoption of the euro next year seem overall well on track, the European Commission (EC) has said, calling on Lithuania’s authorities to address the remaining concerns related to euro introduction and to increase consumers’ confidence so as to ensure smooth euro changeover. […]
Economy
Poultry consumption in Lithuania doubled over decade
An average Lithuanian consumes around 25 kilograms of poultry annually, while the rate a decade ago stood at 12 kilograms. Global trends indicate that poultry consumption continues to grow steadily. […]
Economy
Traffic of vehicles with Lithuanian license plates burdened to Kaliningrad
Russian authorities have considerably slowed down the traffic of automobiles with Lithuanian license plates to the Kaliningrad region, while cars with Russian license plates enjoy unimpeded entry, the Lithuanian State Border Guard Service said on Saturday. […]