Lithuania’s electricity and natural gas distribution company Energijos skirstymo operatorius (ESO) promises to compensate consumers for overpayments.
October272023
October262023
The Government has approved a proposal by the Ministry of the Economy and Innovation to restore the territory of the Kaunas Free Economic Zone (FEZ) as previously envisaged, the ministry said in a press release on Wednesday.
October262023
Lithuanian Airports has entered into a contract agreement with HISK, an infrastructure construction company that successfully secured the public procurement bid. HISK will oversee the expansion and development of Kaunas Airport’s northern apron, with a contract value of EUR 15 million (excluding VAT). Preparatory work is slated to commence by the end of this year, with completion expected in the spring of 2025, reports Lithuanian Airports.
October212023
Lithuania and Latvia were among the top three wine exporters to Russia in January-August this year, business news website Verslo žinios reports.
October192023
Thermo Fisher Scientific Baltics has topped the list of 100 most valuable Lithuanian companies compiled by 15min news website and partners.
October182023
All four battery storage parks with a combined capacity of 200 MW in Lithuania become officially operational on Wednesday, a key step towards increasing energy independence from Russia, the energy minister says.
October172023
Pigu Hobbyhall Group (PHH Group), the leading e-commerce Group in the Baltics and Finland that operates Pigu.lt in Lithuania, 220.lv in Latvia, Kaup24.ee and Hansapost.ee in Estonia and Hobbyhall.fi in Finland, announced today that Dariusz Wcislo has taken over as CEO of the group. He succeeds Florin Filote, who has handed over the helm of the Group.
October162023
In August 2023, the seasonally adjusted industrial production increased by 0.6% in both the euro area and the European Union (EU), compared with July 2023, reports Eurostat, the EU's statistical office.
October162023
Vilnius is switching on central heating this week, the city’s municipality announced on Monday. The heating price this month will be 10% lower than in October last year, it said.
October142023
The Ignalina Nuclear Power Plant (the INPP) has been awarded the highest score in the Good Governance Index of A+. The INPP received the highest rating for the first time in 2022-2023, following an analysis of the Annual Report 2022, the Sustainability Report, an assessment of the work of the collegiate management body – the Board of Directors, strategic planning and implementation, and other parameters. Last year, the INPP’s governance was given a solid A grade, the administration of the power plant stated.
October132023
Minister of the Economy and Innovation Aušrinė Armonaitė says Lithuania recycles around 4% of its waste into new products and is lagging far behind the European Union (EU) average of 12%. The ministry is thus encouraging smaller industries to engage in recycling and developing new products and to apply for special support, she says.
October052023
Luminor Bank’s CEO Peter Bosek will leave Luminor on 30 June 2024 to return to Austria and become the new Chief Executive Officer of Erste Group Bank AG, one of the largest financial services providers in Central and Eastern Europe.
October042023
The construction of Europe’s largest Subaru car centre has begun in Riga, with BluOr Bank’s financing in the amount of EUR 2.14 million, SIA AD REM Auto said in a press release.
October042023
With Artur Malinowski joining as the new Group Chief Marketing Officer of the e-commerce platform Pigu.lt and its managing group PHH Group, the company's management is now completed. Tomas Mikėnas has recently joined the group as Chief Operating Officer and Jakub Stefański has joined as Group Head of Marketplace.
October042023
With Artur Malinowski joining as the new Chief Marketing Officer the PHH Group management is now completed.Tomas Mikėnas has recently joined the Group as Chief Operating Officer and Jakub Stefański has joined as Group Head of Marketplace.
October022023
Ignitis, a smart energy solutions company that ensures public supply of electricity to private customers, is analysing options of fixing a part of the price for the electricity to be supplied to private customers who use the public supply services in order to mitigate the impact of the risks related to growing electricity prices, the company has announced.
October012023
The Bank of Lithuania forecasts that the country’s economy will experience a 0.6% recession in 2023. Projections for this year have been upgraded from a 1.3% recession forecast in June.
September302023
In 2022, Vilnius-based biotechnology company UAB Thermo Fisher Scientific Baltic posted the highest profit in Lithuania at EUR 626.5 million, business news website vz.lt reports.
September272023
Minister of the Economy and Innovation Aušrinė Armonaitė on Wednesday met with representatives of US space company SpaceX on the margins of Vilnius Space Days, conference for business and science.
September272023
In order to integrate the latest technologies in the management, administration and modernisation of state assets, Turto bankas has signed a cooperation agreement with the PropTech Lithuania. As part of this agreement, start-ups will be given access to data and will be able to propose solutions for real estate management and other problems.