Economy

Falling stocks in China and other emerging markets will not have a major direct impact on Lithuania, whose export to India, China and the Southeast Asia amounts to less than 1 percent of the total export. What will pose more problems is the decreasing purchasing power in Russia and other countries of the Commonwealth of Independent States. However, cheaper oil will save the situation, says Rokas Grajauskas, Baltic Analyst at Danske Bank. […]

Lithuanian Prime Minister Algirdas Butkevičius says that pensions may be raised somewhat next January, rather than in July as planned earlier, adding that the size of the increase will depend on the country’s economic situation. […]

The latest statistical data has revealed that in the second quarter of 2015, compared with the previous quarter, the average number of employed people increased by 9,900 (+0.8 percent). Employment growth shows that the number of job vacancies has also increased, especially in the private sector. […]

Danish businessman Bas Lansdorp, CEO of Mars One, a company that plans space expeditions to Mars, will be speaking in the second Vilnius Innovation Forum ‘Innovation Drift‘, organised by the Ministry of Economy of Lithuania. The objective of an ambitious project is not only to take people to Mars but also to provide habitable conditions to live in the red planet independently, www.innovationdrift.com reported. […]

Statistics Lithuania has announced that at the end of the second quarter of 2015 there were 13,400 job vacancies for salaried employees. […]

A court on August 25 opened bankruptcy proceedings for Air Lituanica, a defunct airline that is indirectly owned by the city of Vilnius. […]

President Dalia Grybauskaitė doubts that Lithuania will receive tens of millions of euros in aid from the European Commission for its milk producers hit by low milk prices and Russia’s ban on EU food imports. […]

Based on provisional data, in the second quarter of 2015, accommodation establishments accommodated by 4.8 percent more guests than in the same quarter of 2014 and received 663.4 thousand tourists. The number of tourists from the EU countries totalled 229.7 thousand (by 5.9 percent more than in the same quarter of 2014), from non-EU countries – 148.6 thousand (by 6.1 percent less). The number of Lithuania’s residents accommodated grew by 10.6 percent and totalled 285.1 thousand, Statistics Lithuania said. […]

Prior to the meeting in Brussels with European Commissioner Phil Hogan, Lithuanian Prime Minister Algirdas Butkevičius and Agriculture Minister Virginija Baltraitienė have asked to provide EUR 50 million in support to Lithuania’s dairy producers. […]