Economy

Achema
Economy

Russian intentions to invest in Lithuanian company trigger national security concerns

July 31, 2015 BNS 0

After talks emerged about the Russian chemical company EuroChem Group entertaining plans to invest in Lithuania’s Achema Group, Lithuanian President Dalia Grybauskaitė said that any investor would have to go through scrutiny and meet strict national security criteria. Achema Group is the owner of fertilizer manufacturer Achema, one of the biggest companies in the country which is included in the list of enterprises with relevance to Lithuania’s national security. […]

No Picture
Economy

Lithuania’s labour code overhaul divides opinions

July 31, 2015 Sekunde 0

Lithuania is often described as a country where potential investors are put off by a tax system inherited from the Soviet times and inflexible labour code. Still, the new social model, currently in the works and promised to provide more flexible employer-employee relations, have received a fair deal of criticism. […]

Economy

Supervision of Lithuania’s tourism sector insufficient, auditors say

July 30, 2015 ELTA EN 0

Implementing the Public Audit Programme of 2015, National Audit Office of Lithuania has already conducted one third of the financial (regularity) audits and prepared their reports. The report of the audit of the Ministry of Economy has been presented to the public – how Ministry as well as institutions under the Ministry performed the delegated functions and used the funds allocated for the implementation of various programmes during 2014, the Office reports. […]

Sports Palace
Economy

Architects present visions for redevelopment of Žalgiris Stadium and Sports Palace in Vilnius

July 28, 2015 DELFI EN 0

The Lithuanian Architects Union on Monday hosted a public discussion on one of the major development sites in central Vilnius, the Sports Palace and Žalgiris Stadium. […]

Vilnius Airport
Economy

Vilnius airport to be handed to private entrepreneurs

July 28, 2015 ELTA EN 0

According to Lithuania’s Deputy Transport and Communications Minister Arijandas Šliupas, the ministry is currently intensively working on the concession project of the country’s airports: it is expected to give them to entrepreneurs already next year. This, in the opinion of the deputy minister, will increase revenue to the state budget. […]

Saulius Girdauskas
Economy

Loan to Lithuanian Shipping Company is but temporary solution, deputy minister says

July 27, 2015 BNS 0

An additional 3-million-euro loan issued by SEB Bankas to Lietuvos Jūrų Laivininkystė (Lithuanian Shipping Company, or LJL), a financially-troubled Lithuanian shipping company with debts of more than 20 million euros, is a temporary solution, a deputy transport minister has admitted. […]

No Picture
Economy

Baltic Innovation Fund to make additional funding available for SMEs

July 26, 2015 Lithuania Tribune 0

The innovative fund-of-funds investment initiative – the Baltic Innovation Fund (BIF), dedicated to boosting equity investments made into Baltic enterprises, launched by Lithuania, Latvia and Estonia and the European Investment Fund (EIF), has been increased. The EUR 30 million increase of BIF is expected to translate into an additional EUR 100 million of private equity and venture capital funding available in the Baltic States over the next 5-7 years, Startup Lithuania reports. […]

No Picture
Economy

42 percent of Lithuanian companies use social media

July 26, 2015 ELTA EN 0

Statistics Lithuania has carried out a survey on the use of information and communications technology (ICT) in Lithuanian companies. It has shown that all production and services companies with 10 and more employees were using computers and broadband internet. 64.5 percent of companies were using mobile broadband services provided by mobile network operators (53.3 percent in 2014). 13.6 percent of employees used mobile internet access for work purposes (11.4 percent in 2014). […]

Economy

Orlen Lietuva delivers good financial results following restructuring

July 24, 2015 Lithuania Tribune 0

Orlen Lietuva benefits from restructuring and very favourable macroeconomic conditions. Production capacity utilisation reached 86 percent in the second quarter of 2015 (reaching 92 percent in June, which was the highest level since two years). […]

Projektas „Because it's Panevežys, dude“
Economy

Danish robotics company looking into setting up excellence centre in Panevėžys

July 23, 2015 Invest Lithuania 0

On 15 July, John Erland Østergaard, the founder and director of the Danish company Blue Ocean Robotics, and Thomas Solupajev-Ronlev, partner in the company’s Lithuanian subsidiary, paid their third visit to Panevėžys. During their previous visits the businessmen visited the robotics laboratory of the Panevėžys Faculty of Kaunas University of Technology, Panevėžys Mechatronics Centre, and introduced their company to the city’s mayor and other politicians. […]