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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. […]

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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. […]

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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. […]

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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. […]

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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. […]

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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. […]

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. […]