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CORPORATE

Oligopoly: The path to Lithuania’s current retail market

Four supermarket chains currently control almost half of the retail market in Lithuania. It took them about a decade from the mid-1990s to push out small businesses and acquire a power that politicians and economists say is unhealthy for genuine competition. […]

Economy

Lithuania will not ask EC to scrap daylight saving time

The Lithuanian government said on Monday it would not ask the European Union to scrap daylight saving time, saying there is no evidence that advancing clocks one hour during summer months has negative impact on people’s health or the country’s economy. […]

Minister of Economy Evaldas Gustas
Economy

Startup investment fund planned by Ministry of Economy

The Ministry of Economy is planning a potential investment fund that would provide seed capital and co-investments to newly formed small and micro businesses, or startups. The measure being considered to form the fund would also help develop the alternative First North market, a stock exchange geared towards smaller companies in the Nordic region, by preparing those companies to enter the regulated securities market. […]

Mantas Nocius
Economy

Head of Enterprise Lithuania resigns

The Director General of Enterprise Lithuania, Mantas Nocius, has announced he will resign on 9 November, citing personal reasons. […]

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Economy

Google marketing manager: Business must understand how technology changes customer expectations

Marketing manager at Google Regimantas Urbanas says that internet enables direct service sharing; customers can get the necessary service from other customers. In this sense technology coerces businesses to improve, make creative decisions and communicate with their customers personally. Urbanas shared his insights on changes of customer‘s and entrepreneur’s behaviour in Vilnius Innovation Forum ‘Innovation Drift’ last week. […]

Nicklas Bergman
Economy

Innovation investor Nicklas Bergman: ‘Curiosity drives human development’

Futurist Nicklas Bergman has been investing in new technology for over 20 years. He cooperates closely with Washington-based think tank Tech Cast and Lund University. Mr. Bergman will talk about future technology in Vilnius Innovation Forum 2015, organised by the Ministry of Economy of Lithuania and the Agency for Science, Innovation and Technology. The expert will discuss the changing relationship between the society and technology and its importance to our lives. […]

Economy

Supervision of Lithuania’s tourism sector insufficient, auditors say

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. […]

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Economy

Lithuania to provide immigration assistance for ‘strategic investors’

Saulius Skvernelis, Minister of Interior of Lithuania, instructed his staff to draft a new procedure which will significantly ease and speed up the process for non-EU companies planning to invest in Lithuania. […]