Lithuania: German company Saferoad Baltic set up

A German-capital road infrastructure company, Saferoad Baltic, has been established in Lithuania. Saferoad Baltic is led by Marcin Baginski, according to the Lithuanian Center of Registers. Its authorized capital amounts to 500,000 euros. Saferoad Baltic’s sole shareholder is the company’s Polish branch Saferoad RRS Polska. According to Saferoad’s website, the company provides safe transport infrastructure…

Lithuania: airBaltic agrees to compensate for inconveniences to passengers

An agreement has been reached in a court of justice in Lithuania with Latvian airline airBaltic on payment of compensation to passengers worth a total of EUR 120,000, according to representatives of flight compensation assistance company Skycop. Last year, Skycop commenced more than 200 litigations against airBaltic over the airline’s unpaid compensation to passengers. Following…

Lithuania: anti-money laundering tactics changed

In a change of anti-money laundering tactics, Lithuania’s authorities open pre-trial investigations even if there are only suspicions about the origin of money, Mindaugas Petrauskas, deputy director of the Financial Crime Investigation Service (FNNT), said. According to him, the state received 4 million euros in extra revenue last year, even though the investigations were discontinued.…

Lithuania: Vilnius-London City flights hailed

The launch of a direct service between Vilnius Airport and London City Airport will give Lithuania another opportunity to attract London-based companies in the context of Brexit, Economy and Innovation Minister Virginijus Sinkevicius said ahead of LOT Polish Airline’s first business flight between Vilnius Airport and London City Airport. Paris and Munich are also mentioned…

Lithuania: Vilnius adopts 2019 budget

The City Council of Vilnius has adopted the Lithuanian capital’s budget for 2019, with expenditure exceeding revenue by 5 million euros. The city’s revenue is expected to grow by 3.5% this year compared with 2018, to 611.717 million euros. Total revenue, including EU support and funds carried over from last year, is projected at 679.4…

Lithuania: additional missiles bought

Lithuania has acquired additional combat and training missiles for the Norwegian medium-range aid defense systems NASAMS it is buying from Norway, Lithuania’s Ministry of National Defense said. Due to security reasons, the ministry does not disclose either the volume of the additional missiles, or the price, only saying that the total value of the purchase,…

Lithuania: ruling party leader-related company pledges to stop buying fertilizers from a Russia-affiliated company

Agrokoncernas, a business group owned by Ramunas Karbauskis, leader of the ruling Lithuanian Farmers and Greens Union, has pledged to stop buying fertilizers from Russia company Minudobreniya as its key shareholder Arkady Rotenberg is subject to international sanctions. Agrokoncernas imports fertilizers from Minudobreniya via an intermediary in Dubai, although the company does not disclose, which…

Lithuania: slowdown signs visible

Lithuania’s central banker says it sees no clear signs of an upcoming new economic crisis but warns about slowing growth. Vitas Vasiliauskas, the Bank’s chief, acknowledges that the “income turning to expenses” continues, although differently from ten years ago. According to him, the Bank’s assessment is based on how the 2019 budget numbers. (BNN/Business World…

Lithuania: exports to Japan planned

Lithuania plans to export ready-to-bake food products and pets to Japan, the Agriculture Ministry said. The two countries’ agriculture vice-ministers agreed in Tokyo to immediately begin talks on certification procedures. Lithuania’s potential export products include pizzas, kibinai and similar ready-to-bake products containing poultry and cheese, the ministry said. The countries also expect to agree shortly…

Lithuania: Agriculture Ministry calls on EC to cover losses

Lithuanian agriculture minister Giedrius Surplys has called on the European Commission to cover losses incurred by the country’s farmers from drought and swine fever.

According to the minister, Lithuanian farmers are estimated to have incurred 0.5 billion euros in losses due to drought over the last summer. (BNN/Business World Magazine)