Danske Bank‘s chief economist for the Baltic countries believes that Lithuania’s incoming government should give priority to reforming the country’s education system in order to improve the situation in the labour market and help ensure sustainable economic growth, but he warns that possible differences in opinions between the ministry and the Seimas may prevent major changes from occurring. […]
Bronius Markauskas, the candidate for Lithuania’s agriculture minister, has been a farmer in his home village of Truseliai, the Klaipėda district, for the past 16 years and is familiar with agricultural problems. More than a decade ago, he blocked roads with his peers in an effort to demand higher support to milk producers. […]
Jonava District Mayor Mindaugas Sinkevičius, candidate for Lithuania’s economy minister, says one of his main priorities would be preparations for the decline in European Union (EU) support after 2020. In his words, the country should reinforce its economy to cushion the shock. […]
Economist Vilius Šapoka, candidate for Lithuania’s new finance minister, has so far refused to elaborate on the possible pension and tax reform, saying that all changes would need to be analyzed. […]
Lithuania is to attract IT, business process outsourcing, financial and other services enterprises to free economic zones (FEZs). Due to decision of Parliament of the Republic of Lithuania capital investment of service companies will have to exceed EUR 100 000 and employ at least 20 full time employees to receive incentives. […]
A Vilnius court has ordered a freeze on almost 20 million euros worth of funds of Vilniaus Energija (Vilnius Energy), a local district heating supplier controlled by France‘s Veolia, a move that the company describes as “an assault” against it and plans to contest. […]
Lithuanian employers are considering a possibility of a public pledge to raise wages in exchange of consideration of their proposals of regulation of labor relations, delfi.lt news portal said, adding that trade unions are cautious about the proposal. […]
Vilnius Tech Park, the region’s biggest hub for tech startups, opened for business today. Boasting more than 9,000 square meters of prime office space in renovated 19th century buildings, all set in the historic parkland of Sapiegos stately home, Vilnius Tech Park is now one of the most stylish working environments on offer in the Baltic States. […]
Fitch Ratings says that the inclusion of the Social Democrats in Lithuania’s new coalition government reduces policy uncertainty after last month’s parliamentary elections, in which the Peasant and Green Union (LPGU) scored a surprise victory, and believes that “material changes to economic, fiscal and social policy agendas are unlikely”. […]
Mobile internet has helped Lithuania earn a place among the global leaders. OpenSignal, an internet services research company, has announced that Lithuania is the first in Europe and the third globally, after South Korea and Japan, according to mobile 4G internet coverage, TELE 2 reported in a press release. […]
The Peasant and Greens Union promises a tax reform. It promises much on paper, but according to some economists, lacks specifics. Prime Minister candidate Saulius Skvernelis has announced that private income tax would rise almost […]
The primary market reaction to Donald Trump’s electoral victory in the United States was a small drop. It recovered quickly, but the American Chamber of Commerce in Lithuania warns that with D. Trump as president, […]
Reform of the social model is vital, Lithuania’s Prime Minister Algirdas Butkevičius restated a few times at the final meeting of the 2012-2016 parliament on Thursday. […]
Saulius Skvernelis, candidate for Lithuania’s new prime minister, says that no major tax reforms are planned for the nearest future, however, does not rule out revision of taxes linked with employment income, including the residents’ income tax and social insurance fees. […]
Marks & Spencer announces today that it will be engaging with its employees regarding proposals to close its one store in Lithuania located in Vilnius. The proposals have been developed by Marks & Spencer following a comprehensive review of its 466 International stores in order to build a clear picture of its business today and what is driving results. […]
Lithuanian President Dalia Grybauskaitė says that certain issues important for the social security of people remain unsolved after the parliament amended the country’s new Labour Code, calling for a further improvement of the package. […]
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