Economy
Seimas committee backs president-proposed version of Labour Code
The Lithuanian parliament’s Social Security and Labor Committee has suggested backing President Dalia Grybauskaitė‘s veto of the new Labour Code. […]
Economy
Economy
IMF expects Lithuania’s GDP growth to reach 2.5% in 2016, around 3% in 2017
Lithuania’s economy should grow by some 2.5 percent this year and expand by around 3 percent next year, driven by strong wage growth that supports private consumption, experts from the International Monetary Fund said on Tuesday at the conclusion of their visit to Lithuania. […]
Economy
Lithuania may lose competitiveness if it abandons new labor code – IMF
Lithuania would not be able to remain competitive if it abandoned a new Labour Code that has been passed by the Seimas, but vetoed by the president, the International Monetary Fund said. […]
Economy
MG Baltic president questioned by investigators
Darius Mockus, owner and CEO of MG Baltic, one of Lithuania’s biggest manufacturing, trade, real estate and media groups, has been questioned by agents of the Special Investigation Service. […]
Economy
Lithuania wants to prove it was net contributor, not recipient of Soviet funds
As part of its effort to estimate the damage caused by the Soviet occupation, Lithuania wants to dig up archival documents to calculate the balance of financial flows between Vilnius and Moscow during that period, a method that has already been used by neighbouring Latvia, the daily Lietuvos Žinios reports. […]
Economy
Coca-Cola withdrawal from Lithuania ‘to do with market size, not Labour Code’ – president’s adviser
An advisor to Lithuanian President Dalia Grybauskaitė says the size of the Lithuanian market and shortage of specialists are probably the reasons behind Coca-Cola‘s decision to close its plant in the country. […]
Economy
Economy
Lithuanian stores to demand IDs from all alcohol buyers
All alcohol buyers, irrespective of their apparent age, will from now on be asked to produce identification documents in most supermarkets across Lithuania. Critics of the initiative, proposed by the country’s majors retail chains, say it is a trick to exert pressure on politicians considering further alcohol sales restrictions. […]
Economy
Moscow House construction in Vilnius stalling despite push from Russia
Moscow is looking for contractors to finish building Moscow House in Vilnius. The project, which started in 2008, but has stalled since then, has not been enthusiastically met by the administration of the Lithuanian capital city. […]
Economy
Kaunas frozen food company Judex allowed to resume production
After repeated tests did not reveal any bacteria, the Lithuanian State Food and Veterinary Service (VMVT) on Tuesday allowed the Kaunas-based frozen food product company Judex, which is subject to a law-enforcement investigation, to resume production. […]
Economy
Tourist growth in Lithuania ‘exceeds expectation’
In the first quarter this year, organisations providing accommodation services in Lithuania received as many as 11% more tourists compared to the same period last year. […]
Economy
Youth unemployment halved in Lithuania, but growing economy is not the sole factor
Youth unemployment in Lithuania has shrunk significantly over the last few years. Specialists say, however, that this is as much to do with emigration as with the growing economy. […]
Economy
Amber tourism offers untapped opportunities for Lithuania – Neringa mayor
Amber trinkets and souvenirs are bountiful in Lithuanian souvenir shops and, if you are lucky, you can find pieces of amber washed on the Baltic shore after a storm. However, Lithuania could make better use of the ‘Baltic gold’ to attract more tourists, the mayor of Neringa believes.
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Economy
Economy
New chief appointed to head Lithuania’s Defence and Security Industry Association
Former CEO of the Teo LT telecommunications company, Arūnas Šikšta, has been appointed to head the Lithuanian Defence and Security Industry Association for three years, the association said on Thursday. […]
Economy
Economy
Vilnius council greenlights national stadium concession tender
The Vilnius City Council on Wednesday finalized preparations for the tender for the national stadium concession. Mayor Remigijus Šimašius says the tender would be called shortly to pick a consortium to build and manage the stadium. […]
Economy
Lithuania’s most influential entrepreneurs and economists
Economist Gitanas Nausėda and businessman Robertas Dargis are believed to be the most influential figures in Lithuania’s business and economy, according to a survey by DELFI. […]
Economy
Lithuanian apple growers struggle to compete with imported fruit
Lithuanian apple growers complain that they cannot compete with imported fruit which are made more affordable by lower taxes and looser quality regulation, Lietuvos Žinios reports. […]
Economy
Vilnius to borrow €50m from EIB to refinance debt
The municipality of Vilnius to borrow up to €50 million from the European Investment Bank (EIB) for refinancing earlier loans and investment projects, Mayor Remigijus Šimašius has said. […]