Sugar tax is not planned in Lithuania for now, as the content of sugar in products should be reduced through agreements with manufacturers, Health Minister Aurelijus Veryga says. […]
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. […]
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. […]
With discussions on imposing a cap on cash payments in Lithuania going on for years, politicians now say that a law setting the limit at 3,000 euros may be passed this year and come into effect next year, the business daily Verslo Žinios reported on Tuesday. […]
Bono, the leader of the Irish rock band U2, has announced plans to give up his investment in a supermarket in Lithuania. […]
A Lithuanian shopping center U2 frontman Bono invested in has agreed to pay additional taxes and late payment penalties, 15min.lt reported on Friday. […]
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. […]
Lithuania’s Prime Minister Saulius Skvernelis is going to Mažeikiai on Friday to meet with Michal Rudnicki, the new CEO of Orlen Lietuva, company operated by the Polish oil concern Orlen. […]
Migration procedures for foreigners coming to Lithuania to work have been simplified, while companies hiring staff from abroad can be included in the so-called white list. […]
After some tightening of alcohol consumption and sales in Lithuania in 2017, new, tighter restrictions are put in place this year. […]
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. […]
Natural gas prices for almost half a million Lithuanian households that use the fuel for cooking fell by almost 8 percent on Jan. 1, 2018, but prices for consumers using it to heat their homes remained unchanged from last year’s levels. […]
Electricity prices for households in Lithuania have edged down by 1.2 percent on average. […]
Lithuania’s minimum monthly wage rose by 20 euros to 400 euros on Jan. 1, 2018. […]
Unlawful labor makes a rather significant share of shadow economy in Lithuania, and the indicator is fuelled by unlawful employment of foreigners in the country. Tricky hiring conditions are currently one of the business obstacles, which is believed to go away after simplification of the process, Lietuvos Žinios daily said on Friday. […]
Kazimieras Ramonas, a former supervisor of commercial banks and the Snoras bank that is currently bankrupt, has been acquitted on all charges. […]
The overall scale of shadow economy in Lithuania is on the decline amid an improving economic situation, but shadow activity in the strong alcoholic drinks market is growing due to increased excise duties, according to a report by the Lithuanian Free Market Institute (LFMI). […]
The Organization for Economic Cooperation and Development (OECD) will next spring decide whether or not Lithuania is ready to become a full-fledged member of the organization, the business daily Verslo Žinios reported on Thursday. […]
The European Commission has decided to earmark 9.21 million euros in European Union (EU) support to Lithuanian farmers affected by heavy rainfall, the EC mission in Lithuania told BNS on Wednesday. […]
The residents of Lithuania are the most optimistic in Europe about the continent’s economy, with 72 percent holding a positive opinion about it, shows the latest Eurobarometer poll. […]
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