Economy
Economy
Economy
EC downgrades Lithuania’s GDP growth projections to 1.7 percent
Economic recovery in the euro area and the European Union as a whole is now in its third year. It should continue at a modest pace next year despite more challenging conditions in the global economy, the European Commission said. […]
Economy
Ryanair launches new Kaunas to Israel service
Budget airline Ryanair has launched a new winter route from Kaunas to Eilat Ovda (Israel), starting on November 5 with a twice weekly service, Kaunas Airport reports. […]
Economy
Economy
9 Lithuanian companies cleared to import meat to USA
On Tuesday, the Food Safety and Inspection Service of the United States Department of Agriculture officially announced the list of Lithuanian companies which will be allowed to import meat products to the USA. […]
Economy
Lithuanian government to consider assistance to dairy cooperative Pienas LT
Prime Minister Algirdas Butkevičius has met with dairy producers and promised to inform them in two weeks how the state could assist the dairy production cooperative Pienas LT, enhance possibilities for cooperation of farmers and boost competitiveness of Lithuania’s dairy sector. […]
Economy
Lithuania to target 10 priority export markets
A list of priority export markets was approved in Lithuania’s Ministry of Foreign Affairs Economic Diplomacy Council on Tuesday. […]
Economy
Most Lithuanians feel price hikes after euro adoption
As many as 65 percent of Lithuanians, most of them younger people (aged 15-34 years), say they are already used to changes after the euro adoption, the latest survey for September has shown. However, compared to February’s survey, considerably more respondents believe that prices of goods and services have gone up after the introduction of the new currency. […]
Economy
OECD gives high rating to Lithuania’s construction regulations
This year, Lithuania has been listed among three countries in the region that are most favourable to business in terms of the simplicity of procedures for issuing documents that permit construction. […]
Economy
Minimum wage to grow in January
The Tripartite Council – consisting of representatives of the Government, employers and employees – has reached an agreement that the minimum monthly wage would be raised to EUR 350 on 1 January 2016. […]
Economy
Most Lithuanians trust banks, but not instant credit companies
Two thirds of Lithuanians trust insurance companies and the same number of people is suspicious of instant credit companies. […]
Economy
Lithuanian president to discuss quality of higher education
President Dalia Grybauskaitė is to meet representatives of the academic community, employers and students to discuss how to increase the quality of higher education. […]
Economy
Lithuanian economy beginning to recover, Danske Bank says
The latest data provided by Statistics Lithuania has showed that the country’s economy grew by 1.8 percent in the third quarter of 2015. This is the best result achieved this year, demonstrating that Lithuania’s economy is gradually recovering from the lowest growth period since the 2008-2009 crisis. […]
Economy
Most Lithuanians don’t have ‘financial airbag’
The survey of financial literacy commissioned by the Bank of Lithuania has revealed that Lithuanians have only partially learned the lessons of the previous financial crisis. In case of losing the source of income, 30 percent of the polled said they would successfully cover living expenses for at least three months, while 29 percent – for a month. […]
Economy
New bridge inaugurated in Kaunas
On Friday, Prime Minister Algirdas Butkevičius participated in the opening ceremony of a new Panemunė bridge in Kaunas. Residents of the city had to wait for three years for the new bridge to be built and were forced to use a bypass at that time. […]
Economy
Closing down of power plant in Vilnius to result in 114 redundancies
Energy service company Vilniaus Energija has informed the Lithuanian Labour Exchange about the planned reorganisation which will result in lay offs of 114 employees of Vilnius Combined Heat and Power Plant TE-3. […]
Economy
Lithuania’s IT sector among best-reputed in Europe
Lithuania‘s Information Technology sector has one of the best reputations in Europe. Currently, Lithuania‘s IT sector reputation index is 67 points, while the EU average is 56 points, lzinios.lt reports. […]
Economy
What keeps Lithuanians from embracing entrepreneurship
Lithuanians would like to develop their own businesses, but many are afraid or simply do not have an idea for one, SEB Bank has concluded after carrying out a survey in the Baltic states. About one in ten Lithuanians have a business, whereas in Latvia and Estonia the share is twice as big. Many say they do not know enough about how to start a business. […]
Economy
Economy minister promises reforms to lift Lithuania up Doing Business ranking
Lithuania’s Economy Minister Evaldas Gustas has promised to initiate new reforms next year to improve the country’s business environment and help Lithuania move up on the Doing Business rating. […]
Economy
Beloved farmers’ markets in Vilnius face stiff competition
Vilnius’ marketplaces are beloved by both visitors and locals alike as a source of quality organic food products with prices that can often be haggled over with the farmers that grew them. Interest in organic and farm fresh products is growing fast but so too is competition for the attention of consumers, making the future of the small businesses and individual farmers that fill Vilnius’ farmers’ markets anything but certain. […]