Economy
R&D expenditure in Lithuania among lowest in EU
Research and development (R&D) expenditure in Lithuania was among the lowest across the European Union (EU) in 2013, data from Eurostat shows. […]
Economy
Economy
Bank of Lithuania brings forward interbank payments deadline in litas
On 31 December, the last day of 2014, interbank payments in the litas will be carried out only until 1 PM – at that time execution of payments will be stopped in the Bank of Lithuania systems that are used by banks. Interbank payment orders for the same day operations will be accepted until 12 PM 31 December. […]
Economy
Lithuania’s inflation in November likely to be zero
According to Statistics Lithuania, based on the harmonised index of consumer prices (HICP), the monthly inflation calculated for November and compared to October is likely to stand at 0 percent. […]
Economy
Lithuanian employers say college graduates lack skills to apply knowledge
Lithuanian employers have quite different expectations from students and graduates when hiring and getting hired, shows a poll published on Wednesday. […]
Economy
Lithuanian president slams State Tourism Department following second high-profile bankruptcy this year
As yet another tourism company unexpectedly terminated its activities on Friday, Lithuanian President Dalia Grybauskaitė says that the State Tourism Department (VTD) has not learned from its mistakes of the past, while the competence of the institution’s heads is very questionable. […]
Economy
Lithuania’s economy to face sustainability challenges
Despite Russia’s embargo and the complicated situation in top export markets, Lithuanian economic growth in 2014 will be among the fastest in the EU member states. […]
Economy
PM insists Lithuania’s 2015 budget bill does not breach Fiscal Discipline Law
Lithuania’s 2015 budget bill does not contravene the Law on Fiscal Discipline, Prime Minister Algirdas Butkevičius insists. […]
Economy
Polish Business Awards handed out in Lithuania
On Monday evening, Polish Business Awards were handed out for the third time in Lithuania. The awards are organised by the Trade and Investment Promotion Section of the Polish Embassy. […]
Economy
Economy
Air Lituanica wins arbitration case against Estonian Air
The Arbitration Institute of the Stockholm Chamber of Commerce heard a dispute between Air Lituanica and Estonian Air regarding unilateral termination of commercial co-operation agreement. […]
Economy
Auditors say Lithuania’s 2015 budget bill violates Fiscal Discipline Law
The growth of expenses projected in Lithuania’s 2015 budget bill contravenes the Law on Fiscal Discipline and the expected growth of tax revenue is overly optimistic, the National Audit Office said in conclusions published on Monday. […]
Economy
Klaipėda Port breaks cargo turnover record in October
This October, Klaipėda Port cargo turnover has grown 24.3 percent: total of 3,652.8 thousand tons (including LNG, 48.6 thousand tons) were handled, i.e., 713.6 thousand tons more than in October 2013, the Port of Klaipėda said in a statement. […]
Economy
Over half of incoming post items to Lithuania come from China
As data for the 3rd quarter of the current year show, 51 percent of incoming international items originate from China. All in all, Lithuania Post has received and dispatched 12 million items during the period. […]
Economy
Investors’ confidence in Lithuania on the rise
Investors’ confidence in Lithuania’s business climate has been growing throughout the year, as well as in the last quarter, when Eastern Europe was shaken by instabilities, an Investor Confidence Index for Lithuania by Investors’ Forum has showed. […]
Economy
Lithuanian credit unions start operating at profit
Sixty-three credit unions operating under the Lithuanian Central Credit Union (Lietuvos Centrinė Kredito Unija – LCKU) earned LTL 183,000 (EUR 53,000) in profit in the first three quarters of 2014. In the first three quarters of 2013 they recorded a LTL 5.5 million (EUR 1.6 million) loss. […]
Economy
Lithuanian travel agency gets its license suspended
The Lithuanian State Tourism Department on Friday suspended the license of Fresh Travel after the travel agency, operating under the brand Plius Travel, had informed the authority that it was unable to meet its obligations. […]
Economy
Lithuanian court orders Viasat to pay EUR 2.2 million for copyright infringements
A Lithuanian court has ordered Estonian-registered Viasat, the largest digital satellite TV operator in the Baltics, to pay a total of 7.45 million litas (EUR 2.2m) to three copyright associations for illegal retransmission of programs produced by other broadcasters, including TV3, LNK and the BBC. […]
Economy
Air Lituanica and airBaltic to cooperate on Vilnius-Amsterdam route
Air Lituanica, the Lithuanian airline company, and airBaltic will co-operate on the Vilnius-Amsterdam route. Flights from Vilnius International Airport will be operated eight times a week, i.e., daily, with two flights – morning and evening – on Sunday, Air Lituanica informs. […]
Economy
New science and business incubator opens in Kaunas
On Friday, taking part in the opening of the KTU (Kaunas Technology University) Science and Technology Centre and Technological Business Incubator, Prime Minister Algirdas Butkevičius stressed that funds properly invested in science and technologies always bring great returns. […]
Economy
Lithuania must raise minimum pay every year, president says
Commenting on the ruling coalition’s recent agreement regarding the increase of minimum monthly pay, President Dalia Grybauskaitė has stressed that minimum pay in Lithuania remains the lowest in the three Baltic states and it should be raised on a yearly basis. […]