Lithuania: 5-fold increase of solar energy producers expected

Over 10,000 residents in Lithuania will produce solar energy by the end of next year, according to state-controlled holding company, Lietuvos Energija (Lithuanian Energy). The 5-fold increase is influenced by law changes, allowing remote solar power plants. Energy produced off-site can then be “virtually” transferred to be used in private apartments. Residents and multiple stakeholders…

Lithuania: Ukrainians hungry for jobs

Once a country of EU record-high emigration, Lithuania has recently become a new home for thousands of Ukrainians, who come here in search of a better life. According to the Lithuanian Migration Department, the number of Ukrainians living in Lithuania rocketed by almost 42% in 2018, making them the largest foreign community in Lithuania. The…

Lithuania: Revolut poses no security threat

A special Lithuanian governmental commission gave the same verdict that Revolut’s activities did not run counter to the country’s national interests after completing its third review of the UK-based fintech start-up. The commission that vets transactions by strategic enterprises took the decision on June 25. Revolut Bank plans to start operating as a specialized bank…

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,…