Economy

The General Data Protection Regulation seminar
Economy

EU’s new data protection regulation: more rights for individuals, colossal challenges for businesses

January 15, 2018 Ludo Segers and Justinas Suliokas 0

The General Data Protection Regulation, or GDPR, may sound like one more arcane package of rules coming from Brussels, but saying it’s “a big deal” does not even begin to cover it. The directive will affect every company inside the EU, as well as those outside the EU, doing business with EU citizens when it comes into effect on 25 May. Preparing for it requires quite extensive legal and IT resources. Aurelija Rutkauskaitė, attorney at the legal firm Triniti, and Stein Ove Sektnan, managing director at customer relations management firm SuperOffice, acquainted the attendees of the monthly European Business Network business breakfast with the challenges of meeting the GDPR and offered tips how to deal with them. […]

Banksy painting Brexit
CORPORATE

Lithuania – new destination for UK financial institutions loosing “passporting rights” after BREXIT

January 9, 2018 EN.DELFI 0

As it is almost clear that that UK banks, investment managers, payment service providers and other financial institutions will lose their “passporting rights” to do business in the European Union, Lithuania competes in attracting international financial companies leaving the UK. The Northern country uses the opportunity to become the forefront of financial technologies in the region and there are many reasons to believe about this success. An attractive legal and technological environment, business minded and advanced supervisory authority open to financial market innovations, qualified and competitive workforce, opportunities to operate across the EU basing from Lithuania – that‘s what put Lithuania to one of the best places on the global FinTech map already now. […]

Bono
Economy

Lithuanian mall partly owned by Bono pays disputed taxes – website

January 5, 2018 BNS 0

A Lithuanian shopping center U2 frontman Bono invested in has agreed to pay additional taxes and late payment penalties, 15min.lt reported on Friday. […]

CityBee car on Vokiečių Str, Vilnius
Economy

CityBee grows fast in 2017 amid breakthrough in Lithuanian car sharing market

January 5, 2018 EN.DELFI 0

Lithuanian startup CityBee has tabulated its results for 2017, and it was a year of remarkable growth in size and popularity for the car sharing operator. Its cars are now available in several of the country’s cities, the community of users of its services now numbers more than 100 000, and the total distance customers have driven is now in the millions of kilometres, a press release by the company states. […]

Economy

Some EUR 0.5 b litas remain unexchanged for euros – Lithuanian c. bank

January 2, 2018 BNS 0

Three years after Lithuania switched to the euro, people in the country and abroad still have over 469 million litas worth of notes and coins, accounting for some 8 percent of the former national currency in circulation as of Jan. 1, 2015, the central bank said. […]

Economy

Lithuanian court acquits central bank’s official who monitored bankrupt Snoras

December 29, 2017 BNS 0

Kazimieras Ramonas, a former supervisor of commercial banks and the Snoras bank that is currently bankrupt, has been acquitted on all charges. […]

Rubbe in action
Economy

Inventor G. Nemanis: as the company grows, best jobs remain in Kaunas

December 19, 2017 Lithuania Tribune 0

Kaunas citizen Gediminas Nemanis turned his electric bike gear “Rubbee” into one of the most successful startups in Lithuania. An excellent debut on the crowd-funding platform “Kickstarter”, a team of enthusiasts and attracted investors allowed the invention to make its way to success and gained recognition on the global electric bike market. Gediminas, the inventor and “Rubbee” project developer, tells us how the idea of “Rubbee” was born, how it developed and how it looks now. He also talks about the ecosystem of the startups and the road from the idea to the success story, Kaunas In reported in a press release, Kaunas In wrote in a press release. […]