Economy
Lithuania’s biggest consumer credit company sanctioned for ‘irresponsible lending’
4finance, the leading consumer credit company in Lithuania, has had its licence revoked by the Bank of Lithuania following repeated violations. […]
Economy
Economy
€1.5 bln to be invested in Lithuania’s transport sector
“The transport sector is one of the major and most significant components of economic and social infrastructure. It is, therefore, necessary that particular attention is paid to it. During the 2014-2020 financial period, more than EUR 1.5 billion in EU structural funds are to be invested in this sector,” says Lithuanian Minister of Transport and Communications Rimantas Sinkevicius. […]
Economy
WTO members should not take organization for granted, says foreign affairs deputy
At the Tenth WTO Ministerial Conference on 17 December in Nairobi, Lithuanian Deputy Minister of Foreign Affairs Raimundas Karoblis urged WTO members not to take the smoothly functioning multilateral trade system for granted. Karoblis emphasized that all WTO members, the world’s largest economies in particular, must comply with the WTO’s rules and fulfil the obligations they have undertaken, the Ministry of Foreign Affairs reports. […]
Economy
Forum Cinemas fined €1.4m for cartel agreement
Forum Cinemas, the Finnish company operating the biggest chains of cinemas in Lithuania, has been hit with a nearly €1.4 million fine for a cartel agreement. […]
Economy
Economy
Economy
Bank Snoras property sold on eBay
Bankruptcy administrator of bank Snoras has taken an unexpected step in order to sell property of the bankrupt bank as effectively as possible. Snoras’ movable property was put on sale on e-commerce website eBay. Used electronic devices and computer equipment will be sold on the globally popular website. […]
Economy
Economy
EC to give €53 million to foster growth across Lithuanian-Polish border
On Wednesday, the European Commission adopted the new cross-border cooperation programme INTERREG V-A Lithuania – Poland, whose total budget is €62 million, of which more than €53 million will be provided from the European Regional Development Fund (ERDF). […]
Economy
Employment in Lithuania up 0.2%
In the third quarter of 2015, the employment growth rate in Lithuania was 0.2% compared with the previous quarter, while the change compared with the same quarter a year ago was 0.1%, Eurostat, the statistical office of the European Union (EU), said. […]
Economy
Prices continue to fall in December
Lithuania’s average monthly inflation, calculated based on the harmonised index of consumer prices (HICP), is projected to be negative and stand at minus 0.2%, compared with prices recorded in November. […]
Economy
Lithuania’s economic growth to almost double
Lithuania’s economy should grow 2.9% next year, almost double this year’s rate of 1.7%, according to the director of Economics and Financial Stability Service of the central Bank of Lithuania. […]
Economy
Lithuania’s startup scene: From zero to hero
With several high-profile success stories, the Lithuanian start-up scene is showing much promise, although entrepreneurship support infrastructure still needs work in order to propel the country into becoming a global powerhouse. […]
Economy
New euro coin a tribute to Lithuanian language
The Bank of Lithuania has released a new euro coin which is a tribute to the Lithuanian language. While some of the one million new coins will be reserved for collectors, most will be put into circulation, according to Miglė Mockutė-Zaleckienė, a representative of the Bank of Lithuania. […]
Economy
Economy
Economy
Can Lithuania afford three airports?
With a population of three million, maintaining three international airports is a luxury for Lithuania. […]
Economy
As petrol prices in Lithuania climb despite worldwide oil price drop, MP calls for investigation
Petrol prices continue to rise in Lithuania even as oil prices fall, leading to a call for an investigation into the petrol station market and for the possible introduction of fuel price regulations. […]
Economy
Ageing population may lead to labour shortages
A new survey, commissioned by the Lithuanian Real Estate Development Association and carried out by the Labour and Social Research Institute, shows that as Lithuania’s population continues to shrink, labour force shortages might be one of the country’s biggest challenges within a decade. […]
Economy
Material welfare in Lithuania approaching EU average
Lithuania is approaching consumption levels comparable to the European Union’s average. With actual individual consumption in the country 19 percent below the average, it is not far behind the EU’s old-timers like Spain, Greece and Portugal. […]