Economy
Lithuanian farmers face problems if heavy rains continue
Lithuanian Agriculture Minister Bronius Markauskas warned on Tuesday that farmers may suffer losses if heavy rains continue to lash the country. […]
Economy
Economy
1 in 10 Lithuanians expect improvement from proposed tax changes
Merely 1 in 10 respondents in Lithuania believe that the government-proposed tax reforms will improve their financial situation, shows a survey conducted by RAIT pollster for BNS news agency. […]
Economy
Weather conditions won’t hinder Vilnius airport reconstruction
Rainy weather that has been reported in Lithuania in the past few weeks should not hinder the reconstruction of the runway of the Vilnius International Airport, says Olaf Martens, CEO of the airport. […]
Economy
Kaunas Airport copes with increased traffic after Vilnius Airport shuts for upgrades
Kaunas Airport is coping with increased traffic as most flights are being diverted from Vilnius to the smaller airport after Lithuania on Friday closed its main airport for the first time in Europe, the airport’s operator said. […]
Economy
Study shows Lithuanians believe to be most business-savvy among Balts
Lithuanians believe that the most important thing for the start of the business is having enough savings and a great business idea (76 percent), while Latvians view know-how as the most important (73 percent) and Estonians think that the most important thing is an idea and know-how (79 percent), shows a survey of entrepreneurship of residents of the Baltic states conducted by Spinter research (Spinter Surveys) for DNB bank. The survey was published on Thursday. […]
Economy
Vilnius airport to close for runway reconstruction Thursday night
Vilnius Airport, Lithuania’s largest international airport that was built 85 years ago, will be closed for 35 days on Thursday night for runway reconstruction work, with most airlines diverting part of their flights to Kaunas Airport, some 100 kilometers away from the capital. […]
Economy
Lithuania won’t have to revise budget due to reduced VAT on heating – Finance Minister
After Lithuanian politicians have reached agreement on reintroducing a reduced VAT rate for district heating, a lower rate will likely start to be applied as soon as this fall, Finance Minister Vilius Šapoka said. […]
Economy
Renovation of wastewater system to save Vilnius from flooding – Vilnius mayor
Vilnius will be safe from flooding after renovation of the wastewater system – the work has already been started and will be finished within three years, the Lithuanian capital’s Mayor Remigijus Šimašius said after the city was again flooded following a heavy downpour on Tuesday evening. […]
Economy
VAT tariff on heating could be 15% – Seimas speaker
The reduced value-added tax (VAT) rate on heating in Lithuania could be 15 percent, says Parliamentary Speaker Viktoras Pranckietis. […]
Economy
UAE minister in Lithuania calls for intensified trade
Sheikh Abdullah bin Zayed Al Nahyan, the Minister of Foreign Affairs and International Cooperation of the United Arab Emirates, said in Lithuania on Tuesday that the countries should make efforts to step up mutual trade. […]
Economy
New details in Hella’s investment story: German giant chooses Kaunas FEZ
Hella KGaA Hueck & co., a German manufacturer of lighting technology and electronics products for the automotive industry, and the Lithuanian Kaunas Free Economic Zone have finalized a long term land lease agreement. During the first stage of development up to €30 million investment in a production plant is planned and this will create up to 250 new jobs. Depending on the pace of growth, more investments are expected in the future. […]
Economy
VAT reduction for heating may hold back Lithuania’s tax reform
Reintroducing a reduced VAT rate on district heating and hot water services may hold back the government’s planned tax reform, Swedbank Lithuania’s chief economist Nerijus Mačiulis warned on Tuesday. […]
Economy
Weekly magazine Veidas to stop print edition
The Lithuanian weekly magazine Veidas is set to stop its print edition and plans to develop its website. […]
Economy
Lithuanian association wants national-level regulation of short-term letting
The Lithuanian Association of Hotels and Restaurants wants the short-term accommodation rental activity to be regulated at the national level, saying that hotel owners are now subject to much more taxes and requirements than apartment owners, the business daily Verslo Žinios reported on Tuesday. […]
Economy
Experts see inequalities, increasing prices as possible reasons for emigration from Lithuania
An increase in Lithuania’s official emigration rate in the first half of 2017 could be due to living standard inequalities or rising prices and another possible reason is that more people reported their departure this year, experts told BNS. […]
Economy
PM sees Social Democrats’ initiative on VAT on heating as ‘slap in the face’
A draft amendment tabled by the Lithuanian Social Democratic Party (LSDP), the Lithuanian Farmers and Greens Union’s junior ruling coalition partner, to reintroduce a reduced VAT rate on district heating and hot water services is “a slap in the face”, Prime Minister Saulius Skvernelis said on Wednesday. […]
Economy
Government asks for ratification of Rail Baltica deal
The Lithuanian government on Wednesday initiated the process of ratification of an agreement on the development of the European standard-gauge railway Rail Baltica that the three Baltic prime ministers signed in January. […]
Economy
Government to ask Seimas to ratify Rail Baltica deal
Lithuania’s government will ask the parliament to ratify the agreement on expansion of the European-gauge Rail Baltica project signed by the three Baltic prime ministers in January. […]
CORPORATE
New Labour Code – what do employees need to know?
The new Labour Code came into power on Saturday. It has been criticised strongly by the President, who nevertheless signed it. The initial iteration of the code was passed by the Social Democrats a year […]
Economy
Transport Minister expects Kaunas Airport to be ready to handle more passengers
Kaunas Airport will be ready for a sharp increase in passenger numbers by mid-July when Vilnius Airport closes for runway reconstruction, Lithuanian Transport Minister Rokas Masiulis said on Tuesday. […]