Spurt of Lithuanian start-ups continues: €166.5 million of investment attracted this year

2019 is a memorable year in the Lithuanian start-up ecosystem: the number of innovative companies is nearing 1,000, startups have attracted more than €166,5 million. Vinted, the country’s first start-up to become a unicorn, which has attracted a record amount of investment so far – €128 million, has also proven that innovative products crated by Lithuanian start-ups have great potential.

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Major part of residents in Lithuania would like state commercial bank

A major part of people in Lithuania would back the establishment of a state commercial bank, a new survey has revealed.

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Government to mull merging three state research institutes

The Lithuanian government will on Wednesday consider merging three state research institutes into one.

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Monaco-registered company picks Klaipeda FEZ for its new R&D and manufacturing unit

Monaco-registered GRH International has decided to establish its new R&D and manufacturing unit in the Klaipeda Free Economic Zone (FEZ), the business daily Verslo Zinios reported on Friday.

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Nauseda will ask for significant EU funding for climate goals

Lithuanian President Gitanas Nauseda, currently in Brussels, said on Friday he would seek to ensure significant EU funding for the implementation of goals aimed at fighting climate change.

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Over EUR 11 mln offered for central post building in Vilnius

11.22 million euros has been offered for the historic central post office building in central Vilnius after the sale auction ended on Friday, with the initial price having been set on 10 million euros.

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Lithuania gets message on Belarus' N-plant included in EU climate change plan

Lithuania managed to get an indirect message to Belarus on safety standards at its nearly-completed Astravyets nuclear power plant included into the European Union's climate change commitments.

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Baltic farmers stage protest in Brussels to demand higher payments

Several dozen farmers from Lithuania, Latvia and Estonia staged a protest in Brussels on Thursday to press their demand for higher EU direct payments.

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New child benefit scenario: 60 and 100 euros all year

The ruling parties in Lithuania are once again changing its plan on child benefit payments for the net year.

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EU plans to require that truck drivers return home every 8 weeks

The European Union plans to require that haulers draw up schedules for truck drivers to return home at least every eight weeks.

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Ryanair announces new route from Kaunas

Ryanair announced a new Kaunas route to Zadar in Croatia, with a twice weekly service commencing in May 2020, as part of Ryanair’s Kaunas Summer 2020 schedule.

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Doctors from Kaunas Clinics hope for gamma knife economic return over the next couple of years

Neurosurgeons from Kaunas Clinics in Lithuania's second largest city of Kaunas are very happy with the gamma knife they've been using for the past six months, and hope for its economic return over the next couple of years.

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World’s first digital collector coin to feature signatories of the Act of Independence

The world‘s first blockchain-based digital collector coin created by the Bank of Lithuania is dedicated to the 16 February 1918 Act of Independence of Lithuania and its 20 signatories. The coin is expected to be issued in spring 2020.

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Norwegian specialised bank gets licence in Lithuania

Following the assessment and proposal of the Bank of Lithuania, AB Fjord Bank has been granted a specialised bank licence by the European Central Bank (ECB).

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Norwegian specialised bank get licence in Lithuania

Following the assessment and proposal of the Bank of Lithuania, AB Fjord Bank has been granted a specialised bank licence by the European Central Bank (ECB).

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MG Baltic wins reputation damage case against MP

Vilnius Regional Court on Tuesday ruled that a court of lower instance justly ruled early this year that MP Vytautas Bakas did damage to the MG Baltic business group's reputation when he likened the company to an organized criminal group and said it had caused damage to the state.

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Head of statistics service: rising services prices push inflation up

The prices of services have risen more than 22 percent since the euro introduction in Lithuania in 2015, the country's statistic service, Statistics Lithuania, says.

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AirBaltic launches new direct routes from Vilnius

Latvian airline airBaltic continues its expansion in the Baltics and announces the launch of four new direct destinations from Tallinn, Estonia, and five new destinations from Vilnius, Lithuania. In total, airBaltic will add 13 new routes to its summer season 2020 route map, the company writes in a press release.

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Ruling party leader: new retail tax will not be imposed in January

The leader of the ruling Lithuanian Farmers and Greens Union admits that the proposed new turnover-based tax on major retailers will not be introduced in January as he expected.

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Finance minister expects compromise on 2020 budget

Lithuanian Finance Minister Vilius Sapoka expects that a compromise will be reached on the state's 2020 budget as the bill comes up for a second debate in the parliament on Tuesday.

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