Air Baltic launches flights from Vilnius

Air Baltic launched flights between Vilnius and the Croatian resort of Dubrovnik on Monday.

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Lithuania gives the green light to large-scale investors with sweeping reforms

The Parliament (Seimas) of the Republic of Lithuania has adopted a package of investment and corporate tax laws, which offers a new instrument aimed at attracting large investments of local and foreign capital. The package of laws, also known as the ‘green corridor for investment’, provides for much faster and simpler establishment procedures for investors as well as incentives for municipalities hosting investors. It is a regional development-oriented initiative aimed at promoting investment across Lithuania.

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Maritime cluster has been founded in Lithuania

The business and educational organizations in Klaipeda are joining forces to develop the Lithuanian system of maritime innovation in the country. With this goal, the Lithuanian Maritime Cluster has been founded on June 30. The cluster has been founded with the goal of becoming a platform for the production of high added-value services and products, innovation, cooperation between the education and business sectors.

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Public authorities getting closer to compromise on natl development bank

Lithuania’s public authorities are getting closer to a compromise on the establishment of a national development bank, which would consolidate several existing agencies and would not render retail banking services.

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IMF: concentration of banking sector in Lithuania hasn’t restricted competition

High concentration in Lithuania's banking sector has so far not resulted in a lack of competition in this sector, Kristalina Georgieva, managing director of the International Monetary Fund, says.

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Sinkevicius: European recovery fund would not cut environmental funding

The European Commission's proposed 750-billlion-euro economic recovery instrument will not reduce funding for environment, European Commissioner for Environment, Oceans and Fisheries Virginijus Sinkevicius says.

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Lithuanian urban logistics platform raises €2.2M seed from Japanese backed VC

Ziticity, Lithuanian last-mile delivery service has closed a €2.2 million seed equity investment round. The round was led by NordicNinja VC (FIN) backed by Japanese companies such as JBIC, Honda, Omron and Panasonic in participation with Superhero Capital VC (FIN), Practica Capital (LT), StartupWiseGuys (EE) and Superangel VC (EE), to fund Ziticity’s expansion in Europe.

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Some 70 flights to return to Lithuanian airports in July

As European countries are gradually resuming air transport, some 70 flights are scheduled to return to Lithuanian airports in July. They will include two new destinations of Dubrovnik, Croatia and London Gatwick.

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Loan signed to finance planned gas interconnection between Poland and Lithuania

The European Investment Bank (EIB) has signed a €65 million loan agreement with Lithuanian gas transmission system operator AB Amber Grid to finance the construction of the Lithuanian section of the planned gas interconnection between Poland and Lithuania.

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Seimas brings low-alcohol drinks to beaches

The Seimas of Lithuania has backed a proposal of a group of lawmakers to ease the sale of low-alcohol drinks. As of August 15, the sale of drinks with up to 15 degrees of alcohol in them will be allowed from non-stationary catering outlets.

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Coffee Address to acquire Estonian vending and coffee service company

Coffee Address Holding, a vending and coffee service company in the Baltics operating under the Coffee Address brand is to acquire 7Kohvipoissi, BaltCap announced in a press release.

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Paysera expands to Kosovo

The electronic payment network Paysera is expanding to Kosovo. The Central Bank of Kosovo has already granted Paysera Kosovo the first Electronic Money Institution (EMI) licence in the country, the company informs in a press release.

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Fertilizer producers hope Ukrainian exports to recover in fall

The executives of Lithuanian fertilizer producers – the Jonava-based nitrogen fertilizer producer Achema and the Kedainiai-based phosphorus fertilizer producer Lifosa – have welcomed Ukraine's decision to drop an investigation into the fertilizer market and hope fertilizer exports to Ukraine to recover in the fall after the harvest.

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Parliament gives nod to establishment of state-owned bank

Lithuania’s Seimas has authorized the government to launch the procedures to establish a state-owned bank.

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Lithuanians invented AI-powered solution for crowd control

COVID-19 has made one thing inevitable: leisure venues are not going back to business as usual for the foreseeable future. Concepts such as social distancing and the 1.5-meter economy will redefine social interaction and, ultimately, shape many aspects of how people and venues behave in the future.

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Burning importing waste banned in Lithuania

As Lithuania's state-owned energy group Ignitis Grupe (Ignitis Group) has recently completed the construction of a waste-fueled cogeneration power plant in Lithuania's second-largest city of Kaunas and is about to finish building another one in the capital Vilnius, the country's parliament on Thursday banned importing municipal and hazardous waste to be burnt and used to produce energy.

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Flights between Vilnius and Palanga restored

Domestic flights will be restored in Lithuania after more than a decade’s break with Avia Solutions Group’s companies launching weekend flights between Vilnius and the seaside resort of Palanga on Friday.

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Invention by Lithuanians can influence beverage industry

Researchers at KTU Centre of Packing Innovations and Research, Lithuania have found a solution, which will help beverage makers to pour the liquid through a 120-micrometre filter from a bottle with solid walls. The invention, commissioned by MV GROUP Production, has already been patented. It will improve the quality of beverages and is suited for mass production.

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Gender inequality in higher education: 17 percent pay gap between female and male academics

Carried out in 2018-2019, the Analysis of Diversity and Equal Opportunities in Vilnius University (VU) revealed that the number of women working at VU exceeded that of men by 12%. However, the share of female professors was twice as small as that of their male counterparts (64 percent men and 36 percent women), while the share of female research professors was four times smaller than that of male research professors (79 percent men and 21 percent women). Moreover, the results of the analysis demonstrated that a 17 percent pay gap between female and male academic employees existed: better-paid and more prestigious teaching and research positions were mostly held by men, which was the reason behind the pay gap.

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Rail passenger traffic staging strong rebound

Rail passenger traffic has rebounded strongly in Lithuania following the lifting of lockdown last Wednesday but still remains 35 percent below its year-earlier level.

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