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
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. […]
Economy
Cheap ruble upped illegal migration to Lithuania
The dropping value of the currencies of Russia and Belarus has forced some migrant workers from these countries to make their way to Lithuania, mostly illegally, the State Border Guard Service says. […]
Economy
Lithuanians more optimistic about future prospects, economy
Lithuanians are more optimistic about their country and their financial prospects, but expect to save less in the coming year, according to the latest survey from Statistics Lithuania. […]
Economy
Credit company fined record €30k for giving loans to jobless
Lithuanian banking regulators have hit a consumer credit company with a fine of €30,000 for issuing loans to unemployed applicants, the biggest penalty of this kind to date. […]
Economy
Economy
Economy
2016 budget boosts money for road development and maintenance
The road maintenance and development program (KPPP) finance estimates submitted by the Ministry of Transport and Communications were approved by the government on Monday. The amount earmarked for road development and maintenance was €454 million, or 16.8 percent, larger than it was in 2015. […]
Economy
Lithuanian exporters see no dangers in doing business with Poland
After Lithuanian economist Nerijus Mačiulis said recently that the new government in Poland made the country as unpredictable a business partner as Russia, Lithuanian businesspeople counter him by insisting they do not see any threats in doing business with the neighbouring country. […]
Economy
Veolia’s suit against Lithuania is ‘distraction’, energy minister says
Energy Minister Rokas Masiulis says that the arbitration case to be filed against Lithuania by the French group Veolia is a distraction tactic, adding that the government might counter-sue over violations by its subsidiary Vilniaus Energija. […]
Economy
Economy
French group Veolia sues Lithuania for €100m
The French group Veolia, which owns heating companies in Lithuania, is suing the country for €100 million at the International Centre for Settlement of Investment Disputes (ICSID) in Washington. Veolia is demanding compensation for losses it allegedly sustained due to unfair treatment by the Lithuanian government. […]
Economy
France’s Veolia may exit Lithuanian market
France‘s Veolia, which owns energy companies Vilniaus Energija and Litesko in Lithuania, is set to announce its plans regarding its Lithuanian assets. Sources say the French company might be leaving the Lithuanian market. […]
Economy
What are the prospects for growing Lithuania’s exports?
“The beginning of 2016 was one of the worst years in history for raw material and stock prices,” said Swedbank Chief Economist Nerijus Mačiulis. On Tuesday, he presented his projections for economic growth in Lithuania, and the prospects for exports and the international economy. […]
Economy
Experts warn highest bidder not best as Lithuania seeks operator for airports
Lithuania is seeking private companies to compete for a concession deal to run the country’s three international airports but aviation experts warn that the highest bidder might not be the right choice. […]
Economy
No progressive taxation in Lithuania, PM says
Lithuania will not introduce progressive taxation because there are too few high-earners, according to the country’s social democrat Prime Minister Algirdas Butkevičius. […]
Economy
Lithuanian customs seized €30m worth of smuggled goods last year
Lithuanian customs officers seized smuggled items worth over €30 million last year, according to preliminary data. […]
Economy
Indexed pensions may not help Lithuanian pensioners, whose payouts are among Europe’s lowest
Even the €8 increase in the average pension will not help pensioners in Lithuania, who receive one of the most frugal pensions in Europe. President Dalia Grybauskaitė is encouraging lawmakers to index pensions, which would make them increase together with growing average wages in the nation, and the prime minister, Algirdas Butkevičius, believes that indexing pensions would make them grow by up to 6 or 7 percent. […]
Economy
State Tax Inspectorate’s public procurement deal under scrutiny
The Lithuanian parliament’s Anti-corruption Commission has turned to the minister of finance, asking for clarification about public procurement contracts of the State Tax Inspectorate (VMI). […]
Economy
Court rejects €19m overcharge claim from Vilniaus Energija on gas
Vilniaus Energija, the Lithuanian energy company owned by France’s Veolia (formerly Dalkia), has failed to convince a court that it should be reimbursed €19 million it overpaid for Gazprom gas. […]