Economy
Finance
Economy
Economy
Economy
Lithuanian government okays first payment into ESM
The Lithuanian government on Wednesday, a day after the country formally joined the European Stability Mechanism (ESM), gave the green light for transferring the first tranche of paid-in capital. […]
Economy
Lithuania’s central bank begins discussions on more efficient cash management in country
The Bank of Lithuania, seeking to make the cash management system more efficient, prepared proposals on how to optimise cash management. They are presented in the public discussion document Reform of the Cash Supply System, the Bank of Lithuania announced. […]
Economy
Finance minister says Lithuania needs euro
Lithuania has become the eurozone’s 19th member, but only half of Lithuanians are in favour of the new currency. That will change, Finance Minister Rimantas Šadžius told DW, the Ministry of Foreign Affairs reports. […]
Economy
One in ten households in Lithuania financially better off than a month ago
In November, one in ten Lithuanians said that their household’s financial situation had improved. Five out of ten said it had not changed, while the rest maintained that their household’s finances took a turn for the worse. […]
Economy
Snoras Bank loan portfolio to be sold to international consortium
Snoras bankruptcy administrator Gintaras Adomonis has finished the formal procedures of the sale of Snoras loan portfolio as well as indicated the best offer and thus the potential investor. […]
Economy
Lithuanian credit unions start operating at profit
Sixty-three credit unions operating under the Lithuanian Central Credit Union (Lietuvos Centrinė Kredito Unija – LCKU) earned LTL 183,000 (EUR 53,000) in profit in the first three quarters of 2014. In the first three quarters of 2013 they recorded a LTL 5.5 million (EUR 1.6 million) loss. […]
Economy
Lithuania’s Invalda LT signs Finasta group share purchase agreement
Invalda LT, one of the leading companies in Lithuania investing in other businesses and managing assets, together with partners has signed the Finasta group Share Purchase Agreement. […]
Politics
Lithuanian government approves its first budget in euros
The Lithuanian Cabinet on Friday endorsed a draft budget for 2015, the first year of the country’s eurozone membership. Finance Minister Rimantas Šadžius has said that the bill is to be submitted to parliament for approval no later than 17 October. […]
Economy
Lithuania’s domestic credit up EUR 53.2m in August
Over August, the M3 broad monetary aggregate in Lithuania increased by LTL 244.6 million (EUR 70.9 million) and its annual growth rate was 3.6 percent at the end of the month, the Statistics Department of the Bank of Lithuania reports. […]
Economy
European Union
Bank of Lithuania head: More funding options for small businesses should be available in EU
Chairman of the board of the Bank of Lithuania Vitas Vasiliauskas will take part in the meeting of the Economic and Financial Affairs Council (ECOFIN) in Milan, Italy, on 12-13 September. […]
European Union
European Commission approves EUR 7.89bn investment programme for Lithuania
On Monday, the European Commission approved EUR 7.89 billion EU Structural and Investment Funds Programme for Lithuania. Its goal is to ensure employment and economic growth. The European Union investment constitutes approximately EUR 6.7 billion of the sum, while Lithuania’s contribution is around EUR 1 billion. […]
Economy
Lithuania to organize seminars on euro adoption
On 8 September, a cycle of seminars on the adoption of the euro, which will encompass at least 70 information events scheduled in all 60 municipalities of Lithuania within three months, is going to be launched in Šiauliai, euro.lt informs. […]
Economy
Šiaulių Bankas awarded with STP award by Germany’s Commerzbank
The German bank Commerzbank has awarded Šiaulių Bankas with Straight-Through Processing Award 2013 for a fully automated and top quality performance of international transactions for the third year in turn, Šiaulių Bankas announced. […]
Economy
Snoras Bank creditors seek penalty for Ernst & Young Baltic for misleading audit reports
The association of Snoras Bank depositors and creditors addressed in writing the bankruptcy administrator of the bank demanding information whether he intends to pursue claims against audit company Ernst & Young Baltic. […]
Economy
Losses of Lithuania’s credit unions narrow
Assets of 63 credit unions that are members of the Lithuanian Central Credit Union (LCKU) amounted to LTL 1.37 billion (EUR 397 million) by the end of the first half of 2014. The figure is 6.4 percent bigger compared with the first half of 2013 when it stood at LTL 1.29 billion (EUR 373 million). […]
Economy
Snoras Bank creditors have already been paid almost 0.5bn euros
In accordance to the third payout plan approved by Vilnius Regional Court, Snoras Bank bankruptcy administrator has paid out LTL 750 million (EUR 217 million) to secondary creditor, state company Deposit and Investment Insurance. After the transaction, primary and secondary creditors of Snoras will have received a total of LTL 1.7 billion (EUR 487 million). […]