Economy

Sonect – 1st Swiss FinTech company to get e-money licence in Lithuania

Sonect, the location-based matchmaking platform that connects people who have cash with people who need cash, has obtained its Electronic Money Institution licence from the Bank of Lithuania. This enables the company to operate in […]

Vilnius
Economy

Dream housing for a Lithuanian – somewhere in a major city or tucked away in the nature’s lap

With unlimited financial possibilities at hand, more than half of Lithuanians would choose to live in a major city – young people are mostly fond of the spirit of an old town and lively city centre, while the older ones would opt for more remote neighbourhoods and suburban areas of major cities. Every sixth resident in Lithuania would choose to live in the nature’s lap, close to a river or lake. The above preferences were revealed by a representative survey carried out by Spinter Tyrimai on the initiative of Citadele bankas. […]

Economy

Should we really worry that the RE market indicators have reached the pre-crisis levels?

Nobel laureate economist Robert Shiller has coined the term “Narrative economics” – a situation where the market is affected not only by data, but also by mood and opinion. This was the case of the “narrative economics” in the housing market last year: when, in January, as a result of pessimistic forecasts, the market has decelerated significantly for a month. Nevertheless, the id recovered after the forecasts did not come true. […]

No Picture
Economy

Painful personal losses have not been avoided during two months of the pension reform

After start of the reform of pension accumulation at the beginning of January, a number of employees calculating their personal financial losses and regretting their decision is approaching to 100. According to the Lithuanian Association of Investment and Pension Funds (LIPFA), that number of participants in the 2nd pillar pension funds has tried to refuse returning to Sodra. […]

Economy

More women in shipping: the profession faces big changes

A couple of decades ago, to see a woman with a captain’s or technical uniform on a ferry for many people would have been an unusual view. And today we have more and more women at sea and on the shore as staff, captains or electricians. In support of International Women’s Day, leading ferry operator DFDS is celebrating the female members of its dedicated workforce. In an industry that historically employs more males than females, these women are proving that when it comes to a successful career in the maritime industry, gender simply doesn’t come into it. […]

No Picture
Economy

Snoras bankruptcy administrator claims first victory in 11-million-euro legal battle with Meinl Bank

Early this year the Vienna International Arbitral Centre adopted a decision by which a claim by the Austrian bank Meinl Bank AG against Bankas Snoras was dismissed. It thus recognized that a pledge agreement which Meinl and Snoras made in 2011 is to be deemed null and void under Austrian law. On the basis of that specific agreement, 11 million euros was appropriated from Bankas Snoras in September 2011. […]

No Picture
Economy

Taxify is now called Bolt

Taxify, the leading European on-demand transportation platform, is changing its name to Bolt and introducing a new logo. The update brings the brand identity in line with the company’s broader vision of transportation that has already expanded from ride-hailing, with cars and motorbikes, to scooter sharing. […]

Economy

An Israeli startup company Is opening a software development branch in Vilnius

Another startup company is joining the ecosystem in Lithuania. Exai, a company that specializes in content management technology (CMT) and AI, has announced that it’s opening a software development branch in Vilnius. According to Exai’s CEO, the company is expanding internationally after applying for a grant of 3 million euros from the Lithuanian Ministry of Economy. With offices now in Israel, the U.S., Macedonia, and the Philippines, Exai is slowly growing to be a multinational growth company. […]

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. […]

Economy

The trends are changing: young people choose not to buy permanent housing

If you have moved at least 4 or more times, you are among one-tenth of the most mobile residents in Lithuania who are least attached to their place of residence. Most of the residents in the country change their housing only 1–3 times in their lives, while one-third of them are particularly settled and have never experienced moving. […]