Economy
Economy
Economy
Lithuania will not ask EC to scrap daylight saving time
The Lithuanian government said on Monday it would not ask the European Union to scrap daylight saving time, saying there is no evidence that advancing clocks one hour during summer months has negative impact on people’s health or the country’s economy. […]
Economy
Several foreign companies interested in developing Vilnius metro, say supporters
The idea of building a metro network in Vilnius, which some in the city have been considering for many years, could be implemented using exclusively private investment without any government funds, according to supporters of the idea. They also claim that several foreign companies have expressed interest in building a metro system for Vilnius. […]
Economy
NASA to use new Lithuanian technology to detect injuries
NASA scientists are looking at using a technology invented by Dr Arminas Ragauskas, professor at Department of Telecommunications at the Kaunas University of Technology, to detect head injuries among astronauts. […]
Economy
Co-founder of Maxima group sells shares and leaves
Lithuanian businessman Žilvinas Marcinkevičius, one of the founders of the Vilniaus Prekyba group, which controls the largest retail chain in the Baltics, Maxima, and many other companies, will be leaving the group. […]
Economy
Foreign investors attack Lithuanian labour code for ‘not meeting demands of market’
The Lithuanian labour code is outdated and is constantly drawing criticism from both foreign investors and international organisations, the Investors’ Forum said yesterday. […]
Economy
About a third of taxis in Vilnius ‘illegal’
About a third of all taxi drivers in Vilnius are working illegally, according to an investigation by the city’s municipality. Although drivers mark their cars as taxis, many do not meet official requirements. […]
Economy
Economy
Economy
Irregularities uncovered in Vilnius public procurement contracts
Some public procurement contracts signed in 2014 between Vilnius Municipality, then under the direction of former Mayor Artūras Zuokas, and private companies were illegal and should be annulled, said the Public Procurement Office. […]
Economy
Economy
Economy
Lithuania’s economic growth revised down for last quarter
Lithuania’s economic growth was lower than initially estimated in the final quarter of 2015, the latest figures from Statistics Lithuania showed on Monday. […]
Economy
Economy
Importance of intellectual property and data protection explained by Lithuanian lawyer
On Thursday 18 February, the European Business Network (EBN) invited Lithuanian lawyer Ernesta Seiliūtė to speak about intellectual property and data protection in Lithuania. Seiliūtė is a lawyer with IPnovus Law, an international law firm specialising in intellectual property. Pirated software and other dubious programs can lead to poor data protection and data breaches, which can be extremely costly for businesses and individuals alike. […]
Economy
Making Lithuania’s tax system more like Estonia’s would generate extra €2bn, says economist
If Lithuania made its tax system more transparent, like Estonia‘s, it could collect about €2.5 billion more to its coffers each year, says economist Raimondas Kuodis, deputy chairman of the Bank of Lithuania. […]
Economy
Three instant credit companies fined for irresponsible lending
Three instant credit companies have been sanctioned by the Bank of Lithuania for failing to properly vet their clients’ credit worthiness. […]
Economy
Economy
No ‘pillow tax’ for Vilnius, says city council
On Wednesday, the Vilnius city council decided against considering a “pillow tax.” 16 voted for considering the change, 9 voted against it, and 16 abstained. […]
Economy