Economy

Lithuanian Railways expects to cooperate with China Merchants Group

Thursday, March 23, 2017 09:42
Lithuanian railway
Lietuvos geležinkeliai
State-owned Lietuvos Geležinkeliai (Lithuanian Railways, or LG) expects to transport China Merchants Group's freight from a 280-million-euro industrial park under construction in Belarus' capital of Minsk.

Lithuania equates foreigners' professional experience with high qualifications

Wednesday, March 22, 2017 16:29
Worker
Shutterstock
In an effort to facilitate the entry of skilled foreign labour into Lithuania, the government on Wednesday recognized professional experience as an alternative to higher education qualifications.

New Labour Code to take effect in July - PM

Monday, March 20, 2017 14:41
Enforcement of Lithuania's new Labour Code liberalizing the labor relations will not be postponed again, says Prime Minister Saulius Skvernelis, adding that the document will take effect in July.

It's important is that TV3 remains in hands of Western investors

Friday, March 17, 2017 13:52
Swedish media group MTG's decision to sell its Baltic business, including Lithuania's television group TV3, to US-based Providence Equity Partners will allow maintaining Western business traditions in the media market, a Lithuanian communication and media expert said.

PM proposes alcohol sales by bank cards only

Friday, March 17, 2017 11:42
Credit cards accepted
DELFI / Valdas Kopūstas
At a meeting with Lithuanian business figures on Tuesday, Prime Minister Saulius Skvernelis presented the idea of allowing payment for alcohol by bank cards only, 15min.lt news portal said.

Special envoy of Denmark comes to discuss the future of European Medicines Agency

Thursday, March 16, 2017 10:06
On 22 March 2017 Denmark’s special envoy, Lars Rebien Sørensen, will be visiting Lithuania to present the Danish candidacy for hosting European Medicines Agency (EMA) and draw attention to the advantages of the Danish bid. He will meet with Lithuanian high level officials in order to explain why Denmark is working towards getting the EMA relocated from London to Copenhagen. the Danish Embassy in Vilnius announced in a press release.

Government, employers, unions finish discussions on new labour code

Thursday, March 16, 2017 09:49
Labour code
DELFI / Rytis Daukantas
Representatives of the Lithuanian government, employers and trade unions signed an agreement on a number of issues during the last meeting of the Tripartite Council on Wednesday, the Social Security and Labour Ministry said.

Minister of health asks producers cut medication prices

Wednesday, March 15, 2017 09:44
Lithuania's Health Minister Aurelijus Veryga has asked pharmaceutical manufacturers to lower prices for Lithuania, while representatives of the manufacturers say the call may have no effect, if the pharmaceutical pricing system is not revised.

Three bid in National stadium tender, door closed for Italian company

Tuesday, March 14, 2017 14:36
Vilnius National Stadium
DELFI / Rytis Daukantas
Three Lithuanian and foreign companies or consortia have passed the pre-selection stage of the bidding process for a concession to build and operate a 90-million-euro national stadium in Vilnius. The fourth potential bidder, Italy's Pessina Costruzioni, missed the deadline for submitting its application.

PM pledges to raise pensions, if economy grows

Monday, March 13, 2017 11:29
Lithuania's Prime Minister Saulius Skvernelis has restated plans of raising pensions, if the country's economy grows, adding that this would not depend on political will.

Government approves programme implementation plan

Monday, March 13, 2017 10:43
Lithuania's government on Monday approved a plan for implementation of its programme.

Air Baltic cancels flight from Vilnius to Berlin

Monday, March 13, 2017 10:15
air Baltic jet
Bendrovės archyvas
Latvia's Air Baltic airline has canceled a flight from Vilnius to Berlin and back on Monday due to a strike in progress in airports of the German capital.

PM sees plans to terminate contracts with Hanner as blow to investment setting

Wednesday, March 8, 2017 10:30
The intentions of the Lithuanian National Land Service to terminate contracts with real estate developer Hanner over the lease of the territory of the former Žalgiris Stadium in Vilnius is a blow to the investment environment, Prime Minister Saulius Skvernelis has stated.

President moves to give public authorities free access to registers

Tuesday, March 7, 2017 13:15
Lithuanian President Dalia Grybauskaitė proposes that public authorities should be given free access to the state's registers.

DNB, Nordea name their combined Baltic bank Luminor

Tuesday, March 7, 2017 13:09
Luminor bank
Bendrovės archyvas
The name of DNB’s and Nordea’s proposed combined bank in the Baltics will be Luminor. Announcing the new brand is another major milestone in establishing the combined bank.

Riga minibus operator, Lithuania's Transrevis wins Vilnius public transport contract

Tuesday, March 7, 2017 12:00
A consortium of Latvia's minibus passenger service operator Rigas Mikroautobusu Satiksme (RMS) and Lithuania's intercity minibus service operator Transrevis will operate one-tenth of Vilnius' public transport service routes after winning one of two parts of a tender announced by the Lithuanian capital to select private passenger service providers.

Lithuania's spending on social security among EU's lowest (1)

Monday, March 6, 2017 12:34
At the Vilnius Social Benefits Centre
V.Cesevičiūtės nuotr.
The Lithuanian government's spending on social security was one of the lowest among all 28 members of the European Union (EU) in 2015, Eurostat said on Monday.

Šaučikovas to become CEO of 15Min, BNS Lithuania

Monday, March 6, 2017 10:21
Ramūnas Šaučikovas
Organizatorių archyvas
Ramūnas Šaučikovas will become the CEO of 15min, one of the biggest news environments in Lithuania, and BNS Lithuania as of March 6.

Some Lithuanian municipalities buy social housing above market price - state auditors (1)

Friday, March 3, 2017 14:16
Social housing in Alytus
DELFI / Kęstutis Cemnolonskis
The Lithuanian State Audit Office has criticized some municipalities for the way of managing and distributing social housing.

Lithuania should improve tax collection figures - Dombrovskis

Friday, March 3, 2017 12:11
European Commission (EC) Vice-President Valdis Dombrovskis has stated in Vilnius that Lithuania should give up some value-added tax (VAT) privileges amid projected growth of state spending, as well as improve the collection of VAT and residents' income tax. He also stressed the substantial progress made by Lithuania in the implementation of earlier EU recommendations

Natl Stadium concession tender must be extended until 4th application (1)

Friday, March 3, 2017 09:14
Three consortia of companies have applied for construction and management concession of the 90 million euro National Stadium in Vilnius, with a decision on the fourth one yet to be made, Remigijus Šimašius, mayor of the Lithuanian capital, told BNS.

Government to complete pension system reform by late 2019

Thursday, March 2, 2017 15:37
Pensioners in the middle of money
Shutterstock
The Lithuanian government led by Prime Minister Saulius Skvernelis intends to make the first decisions in connection to restructuring of the pension system in the nearest future, while implementation of all reforms may take until the end of 2019, according to the measures of the government plan published on Thursday.

Lithuanians advised to make additional contributions, return to Sodra - FinMin

Thursday, March 2, 2017 11:07
Lithuanian residents who are expected to have the lowest old-age pensions will be advised to make additional contributions to their pension fund or return to the state-run social insurer Sodra, says Finance Minister Vilius Šapoka.

SoDra postpones recovery of fees from emigrants until late March

Thursday, March 2, 2017 09:48
After waiting for documents from emigrants about compulsory health insurance fees paid in foreign countries, the Lithuanian state-run social insurer, Sodra, has so far failed to check all documents and will postpone the recovery until the end of March, says Sodra chief Mindaugas Sinkevičius.

Trump won't destroy world economy - Lithuanian economist

Wednesday, March 1, 2017 13:49
US President Donald Trump will not derail world economy or revise its course, says Gitanas Nausėda, adviser to SEB Bankas' president, noting that one person can cause problems but is not influential enough to bring down a growing economy.

Road maintenance in Lithuania to be transferred to one firm this year

Wednesday, March 1, 2017 08:26
Maintenance of state roads in Lithuania will be handed over to a single state-run company, Kelių Priežiūra (Road Maintenance), by the end of this year. Lithuania's Transport and Communications Minister Rokas Masiulis says that restructuring of the sector had been in the plans for a long time.

EU Commission: Lithuania makes limited progress in solving productivity problems (1)

Wednesday, February 22, 2017 15:32
Lithuania has made some progress in addressing the European Commission's recommendations issued last May: the country has made headway regarding fiscal issues and strengthening of human capital, but has achieved only limited progress in adopting measures to improve productivity.

Balžekas departure won't change course of companies, owner says

Wednesday, February 22, 2017 12:04
The departure of Tomas Balžekas, so far manager of the Lithuanian media business belonging to AS Eesti Meedia, as manager of the 15min portal and the news agency BNS Lithuania will not change the course of the companies, the owner said Tuesday.

Israel-capital Blender entering Lithuania's p2p lending market

Wednesday, February 22, 2017 10:11
Israel-capital company blender intends to join the Lithuanian peer-to-peer lending market after operating as provider of consumer credits in the country for six months, Verslo Žinios business daily said.