Economy
Lithuanians ‘too slow to defend consumer rights’
About one quarter of Lithuanians say that they have purchased faulty products or services, but only a small number of them complain to consumer rights protection bodies. […]
Economy
Economy
Lithuania no longer a low labour cost country, say investors
The majority of foreign companies operating in Lithuania no longer consider Lithuania a low labour cost country, according to a new survey from the Investors’ Forum Lithuania. […]
Economy
Lithuanian prosecutor probes food-for-poor contracts over inflated prices
The Prosecutor General‘s Office is to investigate public procurement contracts for the government’s food for poor programme after it emerged that companies picked to supply products offered massively inflated prices. […]
Economy
New super strength Lithuanian concrete is eight times tougher, say scientists
Researchers at Kaunas University Technology have developed a type of ultra-high performance concrete they say is eight times stronger than the standard concrete. The innovative Lithuanian material will allow architects and engineers considerably more options when designing compact structures requiring great strength. […]
Economy
Lithuania tops European rankings for shared services in region
Lithuania picked up five major awards at this year’s Central and Eastern Europe Shared Services and Outsourcing Awards in Warsaw and came out on top overall for the second year running. […]
Economy
40% of public procurement purchases to be ‘green’ this year
Lithuania wants to increase the share of “green” contracts in the government’s public procurement deals. […]
Economy
Economy
Lithuanian economy to bounce back with 2.9% growth in 2016, says EC
The European Commission is predicting that the Lithuanian economy will grow by 2.9% this year following a lacklustre performance in 2015. […]
Economy
‘People who say they make the minimum wage but have big money in their accounts should be worried’
About one tenth of all Lithuanian bank accounts will be scrutinised by the State Tax Inspectorate under a new law that requires banks to share information about depositors with tax authorities. […]
Economy
Economy
Big winter storm forces Klaipėda port to close to ships
A large winter storm that is battering the coast of Lithuania has forced Klaipėda port to stop ships from entering and leaving the port. […]
Economy
Lithuanian government extends €420m loan to state social insurance fund
The Lithuanian government has agreed to extend a €420 million interest-free loan to Lithuania‘s social insurance fund, the Sodra, to help it “balance cash flows”. […]
Economy
Apartment deal to push ahead €79m national stadium development
The company that wins the competition to develop a National Stadium on the outskirts of Vilnius will also be allowed to build apartments on the site as a sweetener to attract potential developers. […]
Economy
Major pharmacy retailer named in hospital corruption investigation
Suspicions have been brought against two staff members of the Eurovaistinė drug store network as part of an ongoing investigation into suspected corruption at Šiauliai Hospital. […]
Economy
Lithuania jumps to 13th in global economic freedom rankings
Lithuania moved up two places to 13th in the latest global economic freedom index published by the Heritage Foundation in conjunction with the Wall Street Journal. […]
Economy
Where do Lithuanians own the most foreign real estate?
Up until now, the only information about foreign real estate held by Lithuanians that state institutions could access was whatever the owners themselves declared, or by initiating an individual inquiry with authorities in another country. […]
Economy
Economy
Investigators probe Lithuania’s biggest retail group for alleged illegal activity
Lithuania’s Prosecutor General’s Office and the Financial Crime Investigation Service (FNTT) are conducting a probe into alleged illegal activities by Vilniaus Prekyba, one of Lithuania’s biggest business groups, and its shareholders, including Lithuania’s richest businessman, Nerijus Numavičius. Numavičious assets are worth an estimated €1.3 billion. […]
Economy
Prices of both used and new vehicles spike in Lithuania
Over the last year, prices of both new and used cars shot up in Lithuania, sometimes up to 15%, LRT reports. […]
Economy
Mergers & acquisitions in Lithuania at slow pace in 2015
Global M&A activity grew to record levels in 2015, fuelled by some mega mergers in the pharmaceutical, energy and consumer industries. Lithuania bucked the trend with less consolidation and acquisitions than in the previous year and stood out as the least active in the corporate bond market. The findings on global and regional performance were presented by several industry experts at an event of the Estonian Chamber of Commerce on Wednesday. […]