Latakas wins competition for Klaipeda Port CEO

Algis Latakas, former production director at Klaipedos Juru Kroviniu Kompanija (Klaipeda Stevedoring Company, or Klasco), the largest freight operator in the port of Klaipeda, has won the competition for the post of CEO at the Klaipeda State Seaport Authority.

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Leading tech companies in Lithuania: we are displaying crisis immunity

Entrepreneurship and export development agency “Enterprise Lithuania” indicates that due to COVID-19 pandemic Lithuanian exports of services could shrink by 10 to 25 percent. Technology and communications sector is listed among the most affected. However, leading Lithuanian technology companies are displaying crisis immunity - retaining the order volume and tackling the downturn in close cooperation.

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Finance Minister: every quarantine week shrinks GDP by 0.5 percent

Economists estimate that every week of the quarantine in Lithuania, introduced to slow the spread of the coronavirus, shrinks the country's annual GDP by 0.5 percent, Finance Minister Vilius Sapoka says.

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Lithuania's Devold says could make 100,000 medical coveralls by late summer

Norwegian-owned Lithuanian textile manufacturer Devold says it could producer around 100,000 disposable medical coveralls by late summer.

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Tax revenue 15 percent short of target in March

The Lithuanian central government's tax revenue fell around 15 percent short of the target in March, the director of the State Tax Inspectorate said on Thursday.

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Avia Solutions Group bought Bluebird Nordic

On the 24th of January 2020, Avia Solutions Group signed an agreement with BB Holding EHF for the full acquisition of Bluebird Nordic, which entails a 100% stake ownership of the company’s shareholdings.

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GetJet Airlines set to lay off 370 employees

Lithuania's wet-lease and charter services provider GetJet Airlines has given lay-off notices to 370 employees, the Employment Service said.

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Avalanche of ideas developed in 'Hack the Crisis' hackathon

One of the most important tasks for hackathon organizers was to identify the most pressing issues, and their list was expanding day by day.

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Lithuania and some other EU countries ask for Mobility Package postponement

Lithuania and like-minded EU member states are urging the bloc's bodies to postpone the consideration and adoption of the controversial Mobility Package, a set of rules to regulate the EU's transport industry, until the coronavirus pandemic has ended and its impact on the transport sector has been assessed, the Lithuanian Transport Ministry said on Friday.

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Oro Navigacija sees further 50 pct drop in workload after Russia halts flights

The chief executive officer of Lithuania's state-owned air navigation service provider Oro Navigacija (Air Navigation) says it is facing a further 50 percent decline in workload after Russia halted all international flights at midnight Friday.

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Intersurgical to produce 1 million respirators for medics

Intersurgical, a Lithuanian designer, manufacturer and supplier of a wide range of high quality medical devices for respiratory support, will produce 1 million masks-respirators for medics.

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Central bank: economy may contract 3-21 pct this year

The Lithuanian central bank forecasts that the economy may contract between 3.4 and 20.8 percent this year, depending on how long the nationwide quarantine remains in place.

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Young people most likely to be in arrears

People aged 25-34 are most likely to be in arrears in the EU, according to Eurofound’s new report on Addressing household over-indebtedness. Among this age group, 21% of people surveyed in the 2016 European Quality of Life Survey reported being in some form of arrears.

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Government seeks instrument to regulate prices during coronavirus crisis

The Lithuanian government approved on Wednesday a legislative package allowing it to regulate prices during an emergency.

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Danske Bank Global Services Center has new leader

Danske Bank Global Services Lithuania (GSL) has a new leader. Aistė Gataveckienė, who has been with Danske Bank for more than three years, will take over as Head of GSL following Rosita Vasilkevičiūtė`s departure this February.

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Thermo Fisher Scientific Baltics to supply Lithuania with coronavirus test kits

The Lithuanian government and Thermo Fisher Scientific Baltics have signed a contract on the supply of test kits for COVID-19 diagnostics.

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Media organizations ask Lithuanian government for assistance due to coronavirus situation

Media organizations have on Tuesday asked government institutions to defer tax payments and provide state subsidies to mitigate the impact of the coronavirus crisis.

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Help for business: tax breaks and economic stimulus package in plan

As Lithuania is set to introduce quarantine over the coronavirus, the country's government has vowed to endorse an economic stimulus and business assistance plan on Monday.

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Competition for Klaipeda port CEO job launched

The Lithuanian Transport Ministry has invited applications for the post of CEO at the Klaipeda State Seaport Authority.

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Citadele Bank to change its office in Vilnius

Citadele Bank is moving to Green Hall business valley in Vilnius which is developed by the SBA company Urban Inventors. The bank will establish its Lithuanian headquarters and customer service department in the highest building of the valley. Citadele Bank is expected to open its doors in the Green Hall 1 business centre in July.

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