Lithuania’s Prime Minister Algirdas Butkevičius says that the reduction of Value Added Tax (VAT) to nine per cent for food would cost LTL 380 million (EUR 110 million) to the state budget, the Baltic Course informs with reference to ELTA. “We have to admit that …
According to www.delfi.lt, during this year’s the first quarter, Lithuanian companies have employed only 1,900 people, while during the same period last year the number of the employed people increased by 7,900. The risk assessment enterprise ‘Creditreform Lietuva’, having analysed the data submitted by the …
BNS EU members states might agree on health warnings on tobacco packaging during the Lithuanian EU Presidency in the second half of this year, Lithuania’s Minister of Health Vytenis Andriukaitis said. “Lithuania has made the commitment to seek finalisation of this directive during the EU …
On weekends, Vilnius looks like a Belarusian city, reports the Belarus Digest. Cars with Belarusian registration plates, crowds of Belarusians carrying shopping bags, even bus schedules to Belarus from big shopping centres. In 2012, according to the Lithuanian State Department of Tourism, 400,000 Belarusian guests …
“Information has been received via the RASFF system to the effect that in the canned beef in own juice of Latvian production manufactured by the company SIA “Kursu zeme” the German competent authorities detected 69 % of horse meat that was not indicated in the …
The food basket for a four-person family in Latvia costs 14% more than it does in Lithuania and 5% more than Estonia, writes bnn-news. The food basket or the optimal amount of food for a four-person family in Lithuania costs an average of 196 LVL …
Statistics Lithuania informs that in January 2013, compared to December 2012, prices for consumer goods and services increased by 0.2 per cent. The overall change in consumer prices was mainly influenced by a decrease in prices for electricity, fruit and berries, fuels and lubricants, as well as …
Lithuania-based retailer Maxima has reported revenue of LTL8.2 billion (USD3.1 billion) for the financial year 2012, up 5.8% in comparison to the same period last year. Growth in turnover was driven by development of the network in Estonia and Latvia and the acquisition of the …
Hakon Invest continues its upsurge business trajectory with the expansion of the ICA’s stores and food chain network in 2013. After establishing a strategic plan during the autumn of last year, the tactical step of the firm to engage in a frank expansion of its …
Forbes Magazine has ranked world’s top 25 countries to do business in, and ranked Estonia 22nd, right behind Germany, reported bbn.ee. The authors ranked countries at criteria such as innovation, taxation, technology, corruption, personal and trade freedoms, investor protection, stock exchange, etc. The list was …
According to a flash estimate, Lithuanian GDP increased by 3.6% in 2012. The reading was better than anticipated by the Ministry of Finance (3.5%) as well as the Bank of Lithuania (3%), which suggests that the ongoing budget consolidation process should proceed as planned with …
Lithuania’s consumer confidence improved slightly in January, while economy expanded at a slower rate in the fourth quarter of 2012, data released by the Department of Statistics showed on Wednesday, rttnews.com writes. The consumer confidence index edged up to -15 in January from -16 recorded …
Specialists have not found any products allegedly contaminated with rat poison produced by a Polish company after inspecting shops and marketplaces. “Inspectors have not found allegedly contaminated confectionary produced by Polish company Magnolia Sp. z o. o. from Nov. 22, 2012,” Lithuania’s State Food and …
US fast-food chain Subway is hiring about 15 people to work in its first restaurant that the company plans to open in central Tallinn in the second half of February, writes bbn.ee referring to Postimees. In Estonia, Subway uses the local franchise partner Footlong Ltd …
While an IKEA building is currently rising near the airport in Vilnius, other furniture carriers claim they are not afraid that their business will be doomed to fail when the IKEA doors open in the autumn. Carriers of Swedish furniture, interviewed by DELFI, believe that …
European news portal, presseurop.eu, published an interesting story on how large numbers of Belarussians are crossing into the Lithuanian border to purchase large quantities of goods, reportedly unavailable or pricier in their homeland. The high numbers of wealthy Belarussians clients have helped prop up certain …
FDI Magazine, a division of The Financial Times, has analyzed foreign direct investments across the world and ranked Vilnius as one of the best performing regions, having gained markedly more investments than last year, writes Invest Lithuania. With a 100% increase in FDI, Vilnius has …
In 2013, small and medium-sized (SME) enterprises in Estonia, Latvia and Lithuania expect higher sales and considerable export activity, indicates a flash survey conducted by SEB in all Baltic countries, informed SEB Bankas. Polling about 3,500 companies during a large-scale advisory project, the bank drew …
A dozen of electronic stores – including Tiketa, Pirk.lt, Open24.lt – have joined the fight against high bank rates, writes delfi.lt referring to “Business News.” Next week the companies will meet to agree on joint actions. It is planned to write an application to the …
Lithuanian consumers are starting to feel more upbeat about their country’s financial situation. Consumer confidence has risen for a second straight month, according to Statistics Lithuania. The consumer confidence index improved by 4 points from October to November, Delfi.lt reported mentioning BNS. In comparing it …
