Economy
Economy
Economy
Lithuanian prime minister says zero tolerance for abuses during euro adoption
Lithuania’s prime minister has once again instructed supervisory authorities to maintain tight supervision over preparations for the adoption of the euro in the country and, if necessary, to impose penalties on breachers of requirements established for the period of currency changeover. […]
Economy
Lithuanian producers may lose 145 million euros because of Russian embargo
According to the calculations of Agriculture Minister Virginija Baltraitienė, losses of Lithuanian dairy and meat producers may possibly amount to LTL 500 million (EUR 145 million), because of food product embargo imposed by Russia. […]
Economy
Lithuanian traders to start indicating prices in litas and euro
Starting on 22 August, it will be mandatory for all traders and service providers in Lithuania to indicate prices in two currencies, the litas and the euro. […]
Economy
Economy
Lithuanian pig farmers ordered to register their livestock
A mandatory requirement has been announced in Lithuania to register all pigs by 15 September. Registration will be free of charge. […]
Economy
Reduced VAT rate for books proposed in Lithuania
MP Vytautas Antanas Matulevičius has proposed to introduce a 5-percent value added tax (VAT) rate on books and non-periodicals instead of the current 9 percent VAT rate. […]
Economy
Lithuanians’ outlook on economy and household finances improves
In July, 17 percent of the polled stated that, over the last two months, economic situation in Lithuania had improved, while 56 percent said that it had remained unchanged, and 23 percent indicated that economic situation had worsened. 4 percent of respondents had no opinion on the matter. […]
Economy
Lithuanian businesses have experience in diversifying after Russia’s trade restrictions
When Russia imposed import bans in the past, traders successfully diversified their sales, shows the analysis carried out by the State Tax Inspectorate (VMI). […]
Economy
Economy
Lithuanian businesses sign memorandum on fair conversion to euro
On Monday, representatives of Lithuanian business associations and representatives of municipal authorities as well as the Government, signed the Memorandum of Good Business Practice during the Adoption of the Euro. […]
Economy
Shortage of IT specialists in Lithuania nearing 13,000
Every year, over 1,000 students finish information technology (IT) studies in Lithuania; however, according to employers, it is not enough to meet the current demand of IT specialists in the country. […]
Economy
Volume of construction work in Lithuania up 16.8 percent
Statistics Lithuania informs that in the second quarter of 2014, against the second quarter of 2013, the volume of construction work carried out increased by 16.8 percent and amounted to LTL 2.2 billion (EUR 637 million). […]
Economy
What is Lithuanian’s dream house?
According to experts, when seeking to purchase some property, Lithuanians prefer smaller, economical housing up to 100 square meters with 2 to 3 bedrooms. […]
Economy
Lithuanian businesses refuse to take part in Russia’s food fairs
Lithuanian companies have refused to take part in Golden Autumn, a traditional autumn food show in Moscow in October, as Russia has slapped sanctions on the imports of agriculture and food products. However, some businesspeople will go to another exhibition, World Food Moscow, the Verslo Žinios business daily reports. […]
Economy
Lithuania’s GDP up 0.7 percent
During the second quarter of 2014, Lithuania’s seasonally-adjusted GDP rose by 0.7 percent, while compared to the same quarter of 2013, it increased by 3.0 percent, according to flash estimates published by Eurostat, the statistical office of the European Union. […]
Economy
Lithuanian electricity company becomes member of NASDAQ OMX Commodities
Lietuvos Energijos Gamyba, a company engaged in the production and wholesale trading of electricity, is pursuing its goal to actively contribute to the integration of Nordic and Baltic electricity markets. Lietuvos Energijos Gamyba is the first Lithuanian company that joined the derivatives exchange NASDAQ OMX Commodities, the company says in a statement. […]
Economy
Lithuanian dairy company says it will lose profits due to Russia’s embargo but won’t go under
One of Lithuania’s major dairy producers Pieno Žvaigždės says that import restrictions to Russia do not pose a threat to the company’s existence, but they will have a negative impact on its profitability. […]
Economy
Economy
Unemployment in Lithuania declined to 11.2 percent
In the second quarter of this year unemployment declined to 11.2% and was 1.2 percentage points lower than in the previous quarter. Youth unemployment, on the other hand, increased slightly to 21.3%. Long term unemployment declined to 5% and was 0.2 percentage points lower than in the first quarter. […]