Lithuania’s elite sees Darius Jauniškis, director of the State Security Department (VSD), as being the most influential among the country’s civil servants and lawyers, Delfi.lt reported on Monday. […]
The Bank of Lithuania will analyze additional information on VIA SMS Group after Arvydas Anušauskas, a member of the Lithuanian parliamentary Committee on National Security and Defense, representing the opposition conservative Homeland Union – Lithuanian Christian Democrats, said earlier the Latvian-capital business group VIA SMS Group in Lithuania includes people who have direct ties with the owners of the collapsed Parex bank. […]
Arvydas Anušauskas, a member of the Lithuanian parliamentary Committee on National Security and Defense, representing the opposition conservative Homeland Union – Lithuanian Christian Democrats, has called on the government to disclose whether activity of the Latvian-capital business group VIA SMS Group in Lithuania has been assessed in terms of national security. […]
Economist Gitanas Nausėda, an adviser to SEB bank’s president, has been named the most influential representative of the business sector and economists, according to a new survey by Spinter Tyrimai for the delfi.lt news website. […]
The Bank of Lithuania has provided an electronic money license to the international money transfer startup TranferGo. This license opens up new development opportunities and makes it possible for the company to further simplify and speed up international money transfers, as well as to offer electronic money storage, real-time transfers and other financial services throughout the European Union, a press release from the startup states. […]
Lithuania’s Tripartite Council on Tuesday failed to reach agreement on raising the minimum wage. Employers are inclined to back the government’s proposal to raise the minimum pay to 420 euros. Meanwhile, trade unions want it increased to 450 euros. […]
Exports of goods of Lithuanian origin, excluding mineral products, continue to grow, though at a somewhat slower pace than last year. In early 2018, nominal exports of Lithuanian goods increased by 6.8% compared to the same period in 2017 (15.4% throughout 2017). Growth in exports of petroleum products of Lithuanian origin turned negative. In light of the latest data, Lithuanian exports are unlikely to gather momentum in the short run. Moreover, the looming trade war between Europe, other countries and the US does not warrant optimism. […]
“We’ve invested in canned food instead of nuclear power” – that’s how the funds NDX Energija received after the LEO LT 2009 liquidation are described in the VP White Book. At that time NDX Energija […]
Lithuanian Prime Minister Saulius Skvernelis says that his government experienced pressure to introduce a blanket tax on real estate, describing its current proposal as a compromise. […]
The Bank of Lithuania says that last weekend’s hackathon showed that it is possible to develop a digital collector coin. […]
As Lithuania’s population declines, the country may have to increase its retirement age in the future to solve the problems of the pension system, a central bank official said on Friday. […]
A proposal to increase the minimum wage by 20 euros to 420 euros next year has reached Lithuania’s Tripartite Council which is set to make the decision later. […]
In general terms, all of us know about the economic development of the restored State of Lithuania in the last hundred years. Many things have happened. What could we expect from our national economy in […]
Experts predict that the wave of emigration from Lithuania will this year be smaller than in was in 2017, while immigration into the country will grow, shows a survey conducted by BNS. […]
The Lithuanian central bank has initiated a dialog between commercial banks and virtual currency traders on their attitudes toward cryptocurrencies. […]
Risks in connection to investments in the rapidly growing sector of financial technologies, also known as fintech, are under control, and the licensing requirements remain high, the central Bank of Lithuania said on Monday. […]
The Bank of Lithuania is planning to issue this year the world’s first digital collector coin, to be designed using blockchain or similar technologies. […]
A workgroup formed in the cabinet should present proposals for tax reform, fair tax payment encouragement and incentivising reductions in the black market economy by spring. Economist Rūta Vainienė stated that in terms of reducing […]
The fact about Lithuania as one the most favourable and friendly jurisdiction for FinTech companies, planning to offer payment service across the EU is spreading out. 30 electronic money institutions had activity licences issued by the Bank of Lithuania licenses in 2017, as in 2016 there were just 12. According the information, announced by the Bank of Lithuania on 29th January 2017, about 100 companies are on consultations about licencing opportunities in Lithuania and 19 are now under review. So what factors influenced such growth and interest in FinTech licensing in Lithuania? […]
As it is almost clear that that UK banks, investment managers, payment service providers and other financial institutions will lose their “passporting rights” to do business in the European Union, Lithuania competes in attracting international financial companies leaving the UK. The Northern country uses the opportunity to become the forefront of financial technologies in the region and there are many reasons to believe about this success. An attractive legal and technological environment, business minded and advanced supervisory authority open to financial market innovations, qualified and competitive workforce, opportunities to operate across the EU basing from Lithuania – that‘s what put Lithuania to one of the best places on the global FinTech map already now. […]
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