ArcaPay UAB, the subsidiary of ArcaPay Ltd, a UK-based and FCA regulated cross-border payments platform, has been granted a Payment Institution licence by the Bank of Lithuania. The company, founded in London in 2011, is […]
Following more than 17 years of experience in the business financing domain, Dainius Vaičikonis has founded the alternative financing company Finpro. The newly emerging company will offer factoring, business loans, as well as lease and […]
In 2008, with the onset of the financial crisis and tightening of lending rules by conventional banks, access to funding, in particular for entrepreneurs of small businesses and start-ups had become more difficult. It was […]
The Seimas closed its spring session, which had started on 10 March 2020. This year, the session was held under extraordinary conditions because of the coronavirus. The number of plenaries exceeded the planned figure and […]
Due to the plans to transfer the employer social security contributions to the employee, the minimum wage and non-taxable income levels, tax rates will change. There are fears that these changes wouldn‘t reduce salaries for […]
Economist Vilius Šapoka, candidate for Lithuania’s new finance minister, has so far refused to elaborate on the possible pension and tax reform, saying that all changes would need to be analyzed. […]
An IMF mission commenced work in Lithuania. Representatives from the International Monetary Fund met with Minister of Finance Rasa Budbergytė and discussed the economic situation of Lithuania, state fiscal policy, next year’s budget and measures […]
A recent study has shown that nearly 40% of Lithuanians do not know how much they are charged for banking services. Experts think this might come from many customers’ belief that monetary transactions entail no […]
Financial crime investigators suspect that €2.7 million could have been embezzled from the credit union Amber. One of its top managers was detained on Tuesday. Officers of the Financial Crime Investigation Service (FNTT) searched the […]
Over the first half of this year, Lithuanians have received remittances from their expat friends or family members through Lietuvos Paštas (Post of Lithuania) from 128 countries. More than €1 million has reached Lithuania from […]
After the Supreme Administrative Court of Lithuania recently ruled that companies can use information people share on social media to assess their credit worthiness, specialists say the decision will have a huge influence on credit prices.
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Danske Bank has sealed an agreement to lease a 12,000 square metre business centre in Vilnius which is still under construction. It is the largest lease transaction in the Lithuanian market this year. Danske Bank […]
With glaring signs of overheating in Sweden‘s real estate market, Lithuanian experts offer contrasting opinions about whether a bust in Sweden would send ripples across the Baltic Sea. Lithuania’s banking sector is dominated by Scandinavian […]
The first quarter of 2016 saw increased borrowing by small businesses, improved corporate credit ratings and growing productivity. Farmers, retailers and manufacturing companies were the most active borrowers among small businesses, says Swedbank. Swedbank’s loans […]
The International Monetary Fund (IMF) has said Lithuania needs to carry out structural reforms to its credit unions sector. Lithuania‘s central bank said the IMF in its latest report on Lithuania said that the country’s […]
Lithuanian Finance Minister Rimantas Šadžius says that the government could finish the year with extra funds in the state coffers. […]
The International Monetary Fund may resume credit to Ukraine in the coming months, according to the international rating agency Moody’s. In its review, Moody’s noted the Ukrainian government’s progress in reforming the country’s economy and […]
While the average monthly salary in Lithuania is still the lowest of comparable countries like Hungary, Slovakia, Poland and the Czech Republic, wages in the IT, banking, retail sales and human resources fields are now […]
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