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Economy

Lithuania drops on World Economic Forum competition index

Lithuania declined six spots to 41st worldwide in terms of competition among 137 rated countries in the latest competitiveness report published by the World Economic Forum. […]

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Economy

Trilateral Council okays raising minimum monthly salary to EUR 400

Minimum monthly salary will grow by 20 euros to 400 euros from the beginning of 2018, the Trilateral Council agreed. […]

Jungiasi DNB ir Nordea bankai
Economy

European Commission approves Nordea and DNB plans to enter into a merger in the Baltics

The European Commission approved unconditionally the creation of a joint venture between Nordea Bank AB and DNB Bank ASA, in the Baltic States. The Commission assessed the possible competitive effects of the merger on a number of distinct retail and corporate banking markets across the three Baltic countries and concluded that the merger would not raise competition concerns. […]

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Economy

Parliament reintroduces 9% VAT on heating until 2018

Residents of Lithuania will have smaller heating bills between October and January, as the parliament reintroduced a 9 percent reduced rate of the value-added tax (VAT) on centralized heating. […]

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Economy

Minister of agriculture calls on EU to ban making food of lower quality for Eastern Europe

Lithuanian Agriculture Minister Bronius Markauskas thinks that the European Union should ban international corporations from using different recipes for food products that are sold in Eastern Europe under the same brand names as in Western Europe. […]