Israeli fintech launches expanded operations with new Vilnius Office

Simplex, an Israeli based company providing fraudless payment processing solutions worldwide, has just opened its new Lithuanian office. As part of an overall expansion plan, the company is looking to triple its current 25 strong Lithuanian team in the next three years, states Invest Lithuania.

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Farmers cannot expect drought compensation from EC

Lithuanian farmers who have incurred drought-related losses cannot expect compensation from the European Union as it's an insured event, Vice Minister of Agriculture Venantas Griciunas says.

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New flights to Norway will start from Palanga in October

Norwegian Air Shuttle will launch flights from Lithuania's coastal city of Palanga to Norway's Bergen in October, Lietuvos Oro Uostai (Lithuanian Airports), the airport operator in Lithuania, has announced.

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Watchdog: ex-Klaipeda port breached law and ethics

Arvydas Vaitkus, the former chief executive officer of the Klaipeda State Seaport Authority, breached the law after he failed to declare interests, the Chief Official Ethics Commission has ruled.

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Lithuania to step up visa issuance for foreign startups

Lithuania will start issuing visas to businessmen establishing startups in the country faster as of July 1, the country's Ministry of Economy and Innovation has announced.

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Lithuania's aviation group buying UK's charter airline

Avia Solutions Group, an aviation group owned by Lithuanian businessman Gediminas Ziemelis, is buying Chapman Freebor, a UK charter airline.

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Training center to replace old correctional facility in Vilnius

The demolition of an unused complex of buildings that used to house a correctional facility will start in Vilnius on Tuesday.

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120 million EUR will be provided for European beekeepers

The European Commission will provide €120 million to the EU's beekeeping sector over the next three years to support its essential role in agriculture and the environment. This represents an increase of €12 million compared to the support provided for the period from 2017 to 2019.

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Court: Lithuanian companies don’t have to pay million-worth fine to Serbia

Arvi, a Lithuanian fertilizer, fodder, sugar and turkey meat production group owned by businessman Vidmantas Kucinskas, and Sanitex, a Kaunas-based and Lithuania's largest private capital consumer product wholesaler, which bought the now-bankrupt Serbian fertilizer producer HIP-Azotara in 2006, do not have to pay a million-worth fine to Serbia's privatization agency, according to the final and binding ruling issued by the Lithuanian Supreme Court.

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Transport Minister: new airport could be built between Vilnius and Kaunas

As the numbers of air passengers are growing in Lithuania, a new airport could be built between the country's largest cities of Vilnius and Kaunas by 2035, the country's Transport Minister Rokas Masiulis says, adding that the final decision is expected in 2022.

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MPs call on Adidas to stop sale of Soviet-themed clothing

Several lawmakers from the opposition conservative Homeland Union – Lithuanian Christian Democrats have called on German sportswear maker Adidas to stop the sale of items featuring Soviet symbols.

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Lithuania one of the first countries in EU to establish the definition of a start-up by law

The Parliament of the Republic of Lithuania (Seimas) approved the definition of a start-up provided by the Ministry of the Economy and Innovation of the Republic of Lithuania. The Law on the Development of Small and Medium-Sized Enterprises shall determine that a start-up is a very small or small enterprise with great potential of innovation-based business development, operating for less than 5 years, writes Startup Lithuania.

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Transport Minister: Lithuania ready to test driverless cars

Lithuania is putting a lot of effort and is ready to test driverless cars, the country's Transport Minister says.

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Lithuania remains dependent on imported energy

Lithuania used more energy resources last year, and the country remains dependent on imported energy.

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Chinese conclusions on beef exports due in late summer

Lithuania expects the conclusions of a recent week-long audit by Chinese experts into beef exports from the Baltic country in late summer.

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GET Baltic to expand to Finland next year

The regional gas exchange GET Baltic, operating in the Baltic states, will launch a new market area in Finland as of 2020, it said.

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Lithuanian Railways removes Skinest Baltija and Askita from its tenders

Lithuania's state-run railway company Lietuvos Gelezinkeliai (Lithuanian Railways, LG) has removed Skinest Baltija and Askita from its tenders due to an alleged competition-restricting agreement.

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Textiles producer looking for seamstresses in Vietnam and India

Lithuania's textiles producer Utenos Trikotazas hired six seamstresses from Vietnam in April and plans to increase their number up to 40 by the end of this year since the trial was successful.

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Train speed restrictions introduced due to heat

Lithuania's state-run railway company Lietuvos Gelezinkeliai (Lithaunian Railways, LG) has introduced train speed restrictions due to the ongoing heatwave and advised passengers to take into account possible delays.

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Central bank sees two key risks for financial system

Despite the deteriorated international environment, Lithuania’s financial system is stable, while banks’ resilience to potential shocks remains high, states Bank of Lithuania in a press release.

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