Economy
Economy
Economy
Deadline for submitting bids in Lithuanian natl stadium tender extended to early Dec
Lithuania’s tender for construction and management concession of a national stadium in Vilnius has been extended once again with the deadline for submitting preliminary bids moved to December 8, from October 23. […]
Economy
OECD rep: “Winner takes it all” ideology not suitable for Lithuania
Income inequality is increasingly evident in Lithuania, therefore, it should not follow the ideology “winner takes it all,” says Michael Forster of the Organization for Economic Cooperation and Development. In his words, the impoverished part of the society will be pushed to exclusion even further in the long run. […]
Economy
In 2016 the state-owned enterprises were more profitable than a year ago
The 2016 annual report on the performance of the state-owned enterprises (SOEs), prepared by the Governance Coordination Centre, presents an overview of the 2016 aggregate financial results of Lithuanian SOEs as well as, based on the information provided by the enterprises, discloses the performance of their special obligations and the information on the remuneration of the executives, Governance Coordination Centre reported in a press release. […]
Economy
EC will have to hear Lithuania’s request for damages compensation to farmers
The European Commission (EC) will have to examine the Lithuanian request for assistance in partial compensation of damages incurred by the country’s farmers due to heavy rainfall, says commissioner Vytenis Povilas Andriukaitis of Lithuania. […]
Economy
Lithuania turns to EC for compensation to farmers
After declaring nationwide emergency situation over heavy rains, the Lithuanian government on Thursday turned to the European Commission (EC) with a request to compensate damages incurred by farmers due to heavy rains. […]
Economy
Government couldn’t avert EU fine on railway co – transpmin
Lithuanian Transport Minister Rokas Masiulis says that the government, which took office in late 2016, could not have averted a fine of almost 28 million euros that the European Commission imposed on Lietuvos Geležinkeliai (Lithuanian Railways, or LG) for breaching the bloc’s anti-trust rules. […]
Economy
Government declares nationwide emergency situation over heavy rains
With Lithuanian farmers’ losses due to heavy rains estimated at tens of millions of euros, the Cabinet declared on Wednesday a nationwide emergency situation in a move that will improve the country’s chances of securing EU aid and will open the way for using the government’s reserve funds. […]
Economy
Lithuania will have to rebuild dismantled railway to Latvia – Seimas speaker
Lithuania’s state-run railway company Lietuvos Geležinkeliai (LG) will have to rebuild the dismantled railway stretch to Latvia after the removal caused the European Commission to impose a 28-million-euro fine, says Parliamentary Speaker Viktoras Pranckietis. […]
Economy
Lawyers see appeal against fine on railway co possible
Lawyers say that the Lithuanian government should give serious thought to the possibility of filing an appeal against the European Commission‘s (EC) fine against the state-run company Lietuvos Geležinkeliai (Lithuanian Railways, LG), however, admit that the available information does not give reasons to strongly expect a successful outcome. […]
Economy
Lithuanian innovation will facilitate processes in the food and beverage market
The Correling labelling platform for food products and beverages is launching a smart solution for business that offers significant savings in both time and money. To meet specific business needs, the platform offers a free label development function which offers a completely professional translation and verification service. […]
Economy
Government to decide on nationwide emergency Wednesday – PM
The Lithuanian government will decide on Wednesday whether or not to declare a nationwide emergency situation after the county’s farmers suffered damages estimated at tens of millions of euros due to heavy rains, Prime Minister Saulius Skvernelis said on Tuesday morning. […]
Economy
Government commission proposes nationwide emergency over rain-hit crops
The Lithuanian government’s emergency commission proposed on Monday that the Cabinet declare a nationwide emergency situation after farmers suffered damages estimated at tens of millions of euros due to heavy rains that battered the country at the end of the summer. […]
Economy
Economy
Lietuvos Geležinkeliai long-tolerated behavior harms whole state – Grybauskaitė
Irresponsible behavior by Lietuvos Geležinkeliai (Lithuanian Railways, or LG), tolerated by previous governments for years, have caused damaged to the whole state, President Dalia Grybauskaitė said on Monday, commenting on the European Commission’s decision to fine the state railway company almost 28 million euros for dismantling a rail track linking Lithuania to Latvia. […]
Economy
Lithuania’s Transport Min pledges to defend natl interests by legal instruments
After the European Commission (EC) on Monday imposed a fine of nearly 28 million euros for the state-run company Lietuvos Geležinkeliai (Lithuanian Railways, LG), Transport and Communications Minister Rokas Masiulis said every legal instrument would be applied to defend the country’s interests in the case. […]
Economy
EC imposes EUR 28 mln fine on Lietuvos Geležinkeliai over dismantled rails
The European Commission on Monday imposed a 27.87-million-euro fine for the state-run company Lietuvos Geležinkeliai (Lithuanian Railways) for restricting competition by dismantling a railway stretch between Mazeikiai and the Latvian town of Renge in 2008. […]
Economy
Lithuanian company became official supporter of Ukraine‘s business
Uncertainty and repression do not need to follow every interaction between two independent countries. Great communication and partnership are possible, if both parties are willing to put work into the better future. One of the latest examples of a thoughtful and organized international relations management is the agreement between two leading companies from Ukraine and Lithuania. Lithuanian company Nexus Operations, Ltd. became official international representative of Ukraine‘s innovator Technoforce. […]
Economy
Lietuvos Gelžinkeliai railway Co may get EU fine this week
After a few years of inquiry, the European Commission (EC) may this week announce sanctions for the state-owned railway company Lietuvos Geležinkeliai (Lithuanian Railways) for limiting competition by 2008 dismantling of a rails between Mažeikiai, a city in northern Lithuania, and Renge, Latvia. […]
Economy
Farmers’ losses can’t be covered using govt’s reserve – PM
The Lithuanian government does not have enough money in its reserve to cover farmers’ losses due to heavy rainfall, Prime Minister Saulius Skvernelis said on Friday. […]