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…
Freight volume handled at the Port of Klaipeda in January-September grew by 6.4% YoY, to 33.68 million tons, the Port Authority statistics said. Container throughput totaled 531,440 TEUs. In the reporting period transshipment of general cargo grew by 30.6%, to 11.92 million tons, and dry bulk cargo – by 1.4%, to 14.21 million tons, while…
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…
The Lithuanian parliament voted to legalize medicines containing cannabis. The respective amendments were passed with 90 votes in favor, none against and three abstentions and would come into force next May. The amendments to the Law on Pharmacy and the Law on the Control of Narcotic and Psychotropic Substances will allow the medicinal use of…
Russian fertilizer producer EuroChem has opened a $16-million efficient water-soluble fertilizers plant in Lithuania, the company said in a statement. The plant will produce 25,000 tons of water-soluble crystalline urea phosphate per year, and the capacity will be reached until the end of 2018. “This new facility will further strengthen Lifosa’s position on the global…
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)
Lithuanian charter airline Small Planet Airlines has turned to a court in Germany, asking for the restructuring of its German subsidiary due to loss-making activity. The company says its expansion plans in Germany failed due to technical problems and flight irregularities. According to Vytautas Kaikaris, CEO of Small Planet Group, financial losses incurred by the…