Economy

Specialists say shortage of quality offices in the Vilnius Old Town will only increase as FinTech startups discover Lithuania

With real estate developers recently taking note of people’s growing interest in settling closer to the center of Vilnius, specialists are talking about a parallel increase in pressure on the supply of offices in central locations in the capital city. But while in the first case there is no big imbalance so far between needs and opportunities, companies seeking quality modern workplaces in and around the capital’s Old Town often end up disappointed. […]

No Picture
Economy

Lithuanian cosmetic products increasingly valued by customers

When choosing cosmetic products, Lithuanians are paying more and more attention to their contents, as well as analysing their effects and how suitable they are for the skin or hair, and they do not hesitate to contact the manufacturer or supplier directly in cases where any questions arise. The growing demand for Lithuanian shampoos, creams, shower gels, soaps and other cosmetic products indicates that Lithuanian-made products have a big advantage in this field, a press release from the Maxima retail chain states. […]

Economy

Best employers globally are present in Lithuania

“Philip Morris Baltic” & “Philip Morris Lietuva” have been officially recognised by the global authority „Top Employers Institute“, as a “Top Employer Lithuania 2019”, “Top Employer Europe 2019” for the fifth consecutive year and “Top Employer Global 2019” for the third year in a row. […]

No Picture
Economy

Most wanted employees: there are still not enough future specialists studying in universities

With the IT market continuously growing in Lithuania, there is a constant demand for IT specialists. IT sector is dynamic and always changing, and the need for employees is mostly related to new projects or products and rapidly changing customers’ needs. There is no secret that IT specialists are among the most wanted employees in the Lithuanian labour market, a press release from TransUnion states. […]

SBA Group logistics centre
Economy

Environment-friendly logistics Centre of SBA Group will shortly astonish us with its unique architecture

As soon as this spring, the SBA Group will start a new era in the building tradition with erecting a new logistics centre near Klaipėda. The innovative, green-technology and distinctive design industrial complex will be the first such building in the Baltic States. The authors of the project are the architects of Paleko archstudijos – Rolandas Palekas, Bartas Puzonas, Dalia Uogintė, Karolina Burbaitė. […]

No Picture
Economy

Vilnius to see launch of scooter-sharing system: five companies express willingness to develop the system

As early as this spring Vilnius city dwellers and guests will be offered to take advantage of the service of electric scooter-sharing service and to travel in the city in an innovative and convenient manner. Striving to become the capital of scooters in Europe Vilnius will not only reduce congestions but will also become a free area of scooters and other alternative means of urban transport, a press release from Vilnius City Municipality states. […]

Shopping
Economy

Lithuanians borrow less, but larger amounts and more responsibly

The Lithuanian non-bank financial sector is showing maturity: the consumer credit market survey of 2018 Q4 shows that Lithuanians borrow less, but more significant amounts and more responsibly. The representatives of the financial sector observe that the declining number of borrowers also shows decreasing access to consumer credit for lower-income clients. […]

Euros
Economy

Crisis looks bigger through the eyes of fear, yet statistically insignificant

Last year, the rate of enterprise failure decreased by fivefold and credit ratings of companies remained fairly stable, however, businesses cut down short-term borrowings by 14 per cent and long-term – by 13 per cent. It seems that businesses are unsure about the future; meanwhile, the fundamental indicators show no reasons for worrying – the specialists of Creditinfo credit bureau arrived to this conclusion upon the analysis of the data from over 50 thousand enterprises operating in Lithuania and information on the initiated bankruptcy proceedings. […]

At a meeting of disables 'Just let me work'
Economy

Socially responsible business: growth opportunity or a rehabilitation centre for the disabled?

The Lithuanian Parliament (the Seimas) intends to oblige companies employing the disabled to allocate the significant part of their profits (as much as 75%) for the integration of the disabled. Representatives of the Association of Social Enterprises (the Association) state that reintegration is already underway, the proposal itself is not based on any calculations, and regulations on where and how companies should use the money they earn raise more questions than answers. […]

UMA GO9
Economy

A new co-working space UMA GO9 in downtown Vilnius will be filled with Nordic motifs of nature

On the top floor of a premium shopping center GO9 more than 2,000 square meters co-working space UMA GO9 will be opened this summer. Nordic aesthetics and functionality will be equipped with 230 different workstations: 36 private offices fitting 1 to 12 people teams, over 70 open-type workstations in a co-working open space, 6 modern meeting rooms, a common space with a coffee area and outdoor terraces for relaxation. […]

Swedbank
Economy

Bank of Lithuania to assist in investigation of alleged money laundering cases in Swedbank

The Bank of Lithuania will provide assistance to the Swedish and Estonian financial supervisory authorities in the investigation of recent information regarding alleged money laundering transactions linked with the Swedbank group. […]

An airplane landing
Economy

Flight number in January increases by 3.8%

In January 2019, the number of flights in the Lithuanian airspace handled by air traffic controllers made up 19 thousand, i.e. increased by 3.8 per cent, compared to the same period last year. Overflights accounted for three fourths (14.3 thousand) of the total flight number, and compared to the same period last year, their number increased by 3.4 per cent. […]

FinTech
Economy

Fintech company Factris announces expansion and investment plans in Lithuania

Factris, the Amsterdam-based provider of factoring services has merged its operations with Lithuanian Fintech company Debifo. Factris intends to scale its development team and operations in Lithuania to accelerate the development of its factoring platform and execute on its ambition to become the Pan-European leader of working capital solutions for SMEs. […]