Economy

British Airways gives no comment on future flights to Vilnius

Wednesday, July 26, 2017 18:05
After the Vilnius administration on Wednesday decided to earmark about 2.1 million euros within the next three years for marketing of flights to one of London's key airports in hopes of attracting the United Kingdom's largest airline British Airways, the latter has not given any comments on its plans in this respect.

Vilnius City Council okays bid to earmark EUR 2.1 mln for marketing of flight to London

Wednesday, July 26, 2017 15:34
Vilnius City Council has given a green light to the proposal of the ruling parties to earmark about 2.1 million euros within the next three years for marketing of flights to one of London's key airports, hoping to attract the biggest UK airline, British Airways.

Lithuanian PM: VAT discount on heating, hotels will remain

Wednesday, July 26, 2017 10:16
Central heating
DELFI / Audrius Solominas
Value-added tax (VAT) discount for centralized heating and hotels will remain, says Lithuania's Prime Minister Saulius Skvernelis, adding that the government would announce the proposed tariff next week.

Lithuania to temporarily bring back 9 pct VAT tariff for heating - Minister of Finance

Tuesday, July 25, 2017 14:24
The 9-percent value-added tax (VAT) discount tariff for heating will be reintroduced in Lithuania on a temporary basis between the fall and the end of 2017, Finance Minister Vilius Šapoka said. The discount for 2018 has not yet been specified.

ESFA to buy EUR 22.5 mln worth of food for needy in Lithuania

Monday, July 24, 2017 12:47
The European Social Fund Agency has announced a tender for 22.5 million euros worth of 11,000 tons of food products for the needy, 15min.lt news portal said.

Adampolis, Solaris bid for EUR 40.5 mln contract to supply new buses to Vilnius

Tuesday, July 18, 2017 12:58
Two companies, one from Lithuania and the other from Poland, are bidding for a contract worth up to 40.5 million euros to supply 150 new buses to the city of Vilnius.

Lithuanian farmers face problems if heavy rains continue

Tuesday, July 18, 2017 10:34
Lithuanian Agriculture Minister Bronius Markauskas warned on Tuesday that farmers may suffer losses if heavy rains continue to lash the country.

1 in 10 Lithuanians expect improvement from proposed tax changes

Monday, July 17, 2017 12:14
Merely 1 in 10 respondents in Lithuania believe that the government-proposed tax reforms will improve their financial situation, shows a survey conducted by RAIT pollster for BNS news agency.

Weather conditions won't hinder Vilnius airport reconstruction

Friday, July 14, 2017 15:17
Rainy weather that has been reported in Lithuania in the past few weeks should not hinder the reconstruction of the runway of the Vilnius International Airport, says Olaf Martens, CEO of the airport.

Kaunas Airport copes with increased traffic after Vilnius Airport shuts for upgrades

Friday, July 14, 2017 14:43
A volunteer at the Kaunas Airport
DELFI / Kęstutis Kasciukevičius
Kaunas Airport is coping with increased traffic as most flights are being diverted from Vilnius to the smaller airport after Lithuania on Friday closed its main airport for the first time in Europe, the airport's operator said.

Study shows Lithuanians believe to be most business-savvy among Balts

Friday, July 14, 2017 10:17
Lithuanians believe that the most important thing for the start of the business is having enough savings and a great business idea (76 percent), while Latvians view know-how as the most important (73 percent) and Estonians think that the most important thing is an idea and know-how (79 percent), shows a survey of entrepreneurship of residents of the Baltic states conducted by Spinter research (Spinter Surveys) for DNB bank. The survey was published on Thursday.

Vilnius airport to close for runway reconstruction Thursday night (1)

Thursday, July 13, 2017 09:34
Vilnius Airport, Lithuania's largest international airport that was built 85 years ago, will be closed for 35 days on Thursday night for runway reconstruction work, with most airlines diverting part of their flights to Kaunas Airport, some 100 kilometers away from the capital.

Lithuania won't have to revise budget due to reduced VAT on heating - Finance Minister

Wednesday, July 12, 2017 16:02
After Lithuanian politicians have reached agreement on reintroducing a reduced VAT rate for district heating, a lower rate will likely start to be applied as soon as this fall, Finance Minister Vilius Šapoka said.

Renovation of wastewater system to save Vilnius from flooding – Vilnius mayor

Wednesday, July 12, 2017 11:23
After Tuesday's rain in Vilnius
DELFI skaitytojai
Vilnius will be safe from flooding after renovation of the wastewater system – the work has already been started and will be finished within three years, the Lithuanian capital's Mayor Remigijus Šimašius said after the city was again flooded following a heavy downpour on Tuesday evening.

VAT tariff on heating could be 15% - Seimas speaker

Wednesday, July 12, 2017 09:45
The reduced value-added tax (VAT) rate on heating in Lithuania could be 15 percent, says Parliamentary Speaker Viktoras Pranckietis.

UAE minister in Lithuania calls for intensified trade

Tuesday, July 11, 2017 15:46
the United Arab Emirates, Dubai
V.Samarino nuotr.
Sheikh Abdullah bin Zayed Al Nahyan, the Minister of Foreign Affairs and International Cooperation of the United Arab Emirates, said in Lithuania on Tuesday that the countries should make efforts to step up mutual trade.

New details in Hella’s investment story: German giant chooses Kaunas FEZ

Tuesday, July 11, 2017 15:27
Kaunas Free Economic Zone
Bendrovės archyvas
Hella KGaA Hueck & co., a German manufacturer of lighting technology and electronics products for the automotive industry, and the Lithuanian Kaunas Free Economic Zone have finalized a long term land lease agreement. During the first stage of development up to €30 million investment in a production plant is planned and this will create up to 250 new jobs. Depending on the pace of growth, more investments are expected in the future.

VAT reduction for heating may hold back Lithuania's tax reform

Tuesday, July 11, 2017 13:42
Reintroducing a reduced VAT rate on district heating and hot water services may hold back the government's planned tax reform, Swedbank Lithuania's chief economist Nerijus Mačiulis warned on Tuesday.

Weekly magazine Veidas to stop print edition

Tuesday, July 11, 2017 13:35
Press kiosk
Augustas Didžgalvis
The Lithuanian weekly magazine Veidas is set to stop its print edition and plans to develop its website.

Lithuanian association wants national-level regulation of short-term letting

Tuesday, July 11, 2017 10:26
The Lithuanian Association of Hotels and Restaurants wants the short-term accommodation rental activity to be regulated at the national level, saying that hotel owners are now subject to much more taxes and requirements than apartment owners, the business daily Verslo Žinios reported on Tuesday.

Experts see inequalities, increasing prices as possible reasons for emigration from Lithuania

Monday, July 10, 2017 16:50
An increase in Lithuania's official emigration rate in the first half of 2017 could be due to living standard inequalities or rising prices and another possible reason is that more people reported their departure this year, experts told BNS.

PM sees Social Democrats' initiative on VAT on heating as 'slap in the face'

Thursday, July 6, 2017 09:37
A draft amendment tabled by the Lithuanian Social Democratic Party (LSDP), the Lithuanian Farmers and Greens Union's junior ruling coalition partner, to reintroduce a reduced VAT rate on district heating and hot water services is "a slap in the face", Prime Minister Saulius Skvernelis said on Wednesday.

Government asks for ratification of Rail Baltica deal

Wednesday, July 5, 2017 18:30
Rail Baltica
E.Digrytės nuotr.
The Lithuanian government on Wednesday initiated the process of ratification of an agreement on the development of the European standard-gauge railway Rail Baltica that the three Baltic prime ministers signed in January.

Government to ask Seimas to ratify Rail Baltica deal

Wednesday, July 5, 2017 10:37
Lithuania's government will ask the parliament to ratify the agreement on expansion of the European-gauge Rail Baltica project signed by the three Baltic prime ministers in January.

Transport Minister expects Kaunas Airport to be ready to handle more passengers

Tuesday, July 4, 2017 15:19
Rokas Masiulis
DELFI / Kęstutis Kasciukevičius
Kaunas Airport will be ready for a sharp increase in passenger numbers by mid-July when Vilnius Airport closes for runway reconstruction, Lithuanian Transport Minister Rokas Masiulis said on Tuesday.

State forest reform not a matter of confidence in Government

Tuesday, July 4, 2017 11:09
Lithuania's much-contested state forest management reform is not a matter of confidence in the government and it will be carried out in one or another way, Prime Minister Saulius Skvernelis said on Tuesday.

Janušienė wins competition for Lithuanian tax chief's job

Tuesday, July 4, 2017 10:59
Edita Janušienė, currently chief auditor at the central Bank of Lithuania, has been selected to head the country's State Tax Inspectorate (STI) for the next four years.