Lithuanian commercial banks are revising their expectations of real estate prices. A year ago, banks hoped that housing, particularly new developments, will see a rise in prices, while in a survey performed this autumn there wasn’t a single bank expecting a rise in housing prices, the Bank of Lithuania said. […]
In 2014, Lithuania’s resource productivity accounted for only 0.65 EUR/kg, down by 1.1 percent since 2012. The country’s domestic material consumption stood at 50.4 million tons, up by 59.8 percent from 2012, Eurostat, the statistical office of the European Union (EU), reports. […]
The Director General of Enterprise Lithuania, Mantas Nocius, has announced he will resign on 9 November, citing personal reasons. […]
The Lithuanian Embassy in Sweden, together with the Lithuanian State Department of Tourism and the Swedish partners, organized the event “Welcome to Lithuania” on 22 October in Stockholm to present the Lithuanian tourism opportunities. […]
On 20 October, the Embassy of Lithuania in the United Kingdom and Oxford Intelligence organized a business networking event in London, the embassy reports. […]
292,000 tonnes of glass, plastic and paper packaging were sold in Lithuania in 2014 together with food products and other goods. Only 30 percent of the amount was properly recycled. […]
Finance Minister Rimantas Šadžius believes there still is a chance that at the end of 2015 Lithuania’s gross domestic product (GDP) growth will exceed 2 percent. […]
Prime Minister Algirdas Butkevičius says that the 2016 draft budget, which will be submitted to Parliament on Tuesday, is aimed at stimulating domestic consumption and economic growth. […]
In 2014 state-owned enterprises (SOE) remained an important part of Lithuania’s economy – their input in economy accounted for 3 percent of GDP. In 2014 SOEs earned total revenue of EUR 2.3 billion, which is by 5.6 percent more compared to 2013. Moreover, their normalised net profit increased by nearly 2 percent to EUR 150 million, while their estimated market value grew by 11 percent to EUR 5 billion. […]
Professional services firm Ernst & Young (EY) has published its latest economic forecast for the euro area. It is projected that Lithuania’s GDP growth will stand at 2.1 percent in 2015 and 3.6 percent in 2016. Meanwhile, GDP growth in the euro area will stand at 1.6 and 1.8 percent respectively. […]
The Lithuanian Ministry of Finance has submitted the country’s draft budget to the European Commission (EC) and the Eurogroup. Such obligation arose for Lithuania when it became a member of the eurozone in January 2015. […]
A segment of Rail Baltica between Kaunas and the Polish border is officially opening on Friday. The Lithuanian prime minister says it is now up to Poland to upgrade its network so that transportation of cargo and passengers on the railway can begin. […]
IT and telecommunications company Teo has purchased 100 percent of the shares of the Lithuanian mobile service provider Omnitel from its current shareholder TeliaSonera. The move has provoked a lot of discussion in the Lithuania public sphere and that shouldn’t surprise anyone as the purchase is one of the biggest in Lithuania’s business history. Both companies are owned by Swedish Company TeliaSonera. […]
The Lithuanian Parliament has begun considering legislative amendments that would peg retirement to average life expectancy. It has been proposed that two years after the average projected life expectancy of people aged 65 years grows by six months, the retirement age would be raised by six months as well. […]
Lithuania’s Kauno Tiltai AB, the largest transportation infrastructure company in the Baltics, and Mitnija UAB, the largest construction company in Lithuania, have finished laying, remodelling and upgrading the first European gauge railway from Šeštokai town to Marijampolė town (Lithuania), Mitnija said in a press release. […]
At the conference Verslas 2016 (Business 2016), Prime Minister Algirdas Butkevičius introduced the Government’s economic policy priorities for the upcoming year. The priorities include: continuation of the systematic reform of the energy sector, strengthening of the domestic market, mitigation of tax burden on the lowest earners, minimum wage growth and remuneration increase in certain sectors. […]
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