Belarusian fertilizers make up a bulk of business for Lithuanian transportation and stevedoring firms, but as US sanctions come into effect next month, it is still unclear how they will cope with the loss of revenue. Last August, the United States introduced sanctions on Belaruskali, the Belarusian state-owned firm, one of the world’s largest producers…
The housing loan portfolio of Lithuania’s banks grew more than in any other eurozone country this year, showing signs of overheat, said central bank chief Gediminas Simkus. A correction in the housing market could shake the country’s financial system. Between January and September, Lithuanian banks issued 50% more in housing loans than over the same…
The Lithuanian Environment Ministry proposes to scrap the existing one-off vehicle registration levy and instead introduce an annual car pollution tax. The Environment Ministry says 54% of car owners in the country will have to pay up to 100 euros in the annual pollution tax that will be phased in until 2025. The ministry earlier…
The European Parliament and the EU Council have reached agreement on the EU’s next year budget, totaling 170.6 billion euros. Lithuania will receive additional funding for dealing with health and migration, the Finance Ministry says. “It’s important that the final version ensures proper funding for Lithuania’s strategically important traditional policy areas, like cohesion and agriculture.…
Three out of four Lithuanian employers prefer employees with work experience in Lithuania rather than abroad, a survey by the Migration Information Centre (MIC) has found. “It is thought that people returning from abroad might be less loyal to the company and more willing to change jobs,” said Indre Jankauskaite-Cince, project manager at the MIC.…
First Christmas trees from Lithuania’s largest spruce plantation have already been shipped abroad. But according to business owners, the pandemic has made it difficult to find workers, while Brexit has forced them to look for new export markets. The largest Lithuanian spruce plantation, located in Joniskis district, is growing around a million trees. It hopes…
Seven years ago, the liquefied natural gas (LNG) floating storage terminal, Independence, pulled into the Lithuanian port of Klaipeda. The terminal is crucial for Lithuania’s energy security, experts say. During the first nine months of 2021, Independence has been the main source of natural gas imports to Lithuania – more than 65% of gas reached…