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Economy

Icelandic payment entrepreneurs establish HQ in Vilnius

Paystra, a fintech company founded and financed by Icelandic payments experts, providing payment services, is establishing its headquarters in Vilnius, Lithuania, and plans to build a team of 30 professionals over the next two years. The company, led by two payment market veterans, will develop and deploy state-of-the-art electronic payment solutions for European merchants, a press release from Invest Lithuania states. […]

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Economy

Revolut turns new page with Lithuania-facilitated banking license

Today, Revolut together with the Bank of Lithuania have announced that the challenger bank received a Specialised Banking License, which will allow offering and passporting an even wider range of solutions to customers in Europe. The move of getting a license in mainland Europe has been considered by many a hedge against Brexit. Having received both the Specialised Banking license and Electronic Money Institution facilitated by the Bank of Lithuania, Revolut is now effectively safe from any decision regarding Britain leaving the EU. From 2019, Revolut will start accepting deposits and offering retail and business lending, making it an even bigger rival for traditional banks, a press release from Invest Lithuania states. […]

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Economy

Moody’s chooses Vilnius for its new European location

Moody’s Corporation has chosen Vilnius, Lithuania as the location for its newest European office. Moody’s provides credit ratings, research, tools and analysis that contribute to transparent and integrated financial markets. Moody’s expects to grow its new office over the next few years and chose Vilnius over a number of other European cities. Hiring of staff in Vilnius is expected to start in January, 2019, a press release from Invest Lithuania states. […]

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Economy

NKT to grow its IoT team in Kaunas

NKT, a leading global power cable manufacturer, and THINKT, an innovation hub backed by the Danish company, are bringing their joint competencies to Kaunas where they are establishing a digital project development team. The new site will collaborate with the THINKT hub in Berlin to support and develop new projects for the energy industry, a press release from Invest Lithuania states. […]

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Economy

Israeli cloud services integrator chooses Vilnius for European base

TeraSky, a leading Israeli cloud solutions integrator, has just announced the opening of its European branch in Vilnius, Lithuania. The company, whose customer base includes global enterprise leaders in high-technology, finance, defence, cyber, telco and other areas, plans to hire several dozen local specialists. The Vilnius office will be responsible for software development, professional services and regional support, a press release from Invest Lithuania states. […]

Kaunas Free Economic Zone
CORPORATE

Factories rise one after another in Lithuania: thousands of jobs to spread across the country

Recently a positive trend can be observed in Lithuania – we are increasingly frequently hearing about factories being established in the country, about their development and new foreign investors. Experts are celebrating that the construction […]

Virginijus Sinkevičius
Politics

Lithuanian PM proposes Sinkevičius for minister of economy

Lithuania’s Prime Minister Saulius Skvernelis has confirmed to BNS he had chosen MP Virginijus Sinkevičius, deputy elder of the ruling Lithuanian Farmers and Green Union group, as candidate for economy minister. […]

Discussion on how to attract a Tesla Motors gigafactory to Lithuania
CORPORATE

Laying the foundation for a TESLA gigafactory in Lithuania

A day after the Tesla Motors lithium accumulator factory opened in Nevada, government and business representatives met for a discussion of the potential to build such a gigafactory in Lithuania as well. […]