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Pohjola coming to Lith

Pohjola coming to Lith

VILNIUS — The Finnish bank Pohjola has registered in Lithuania and intends to compete in the country’s foreign-dominated banking industry. The Registry Center reported that the bank’s first branch will appear on Konstitucijos Avenue and will be headed by the former Nordea Bank executive Erika Jakimonytė. The registration of the bank is the fulfillment of […]

VAT reduction proposed in parliament

VAT reduction proposed in parliament

VILNIUS — Another bill to reduce the Lithuanian value-added tax on certain sectors, a controversial issue since the anti-crisis plan jacked up the tax rate at the beginning of 2009, has been proposed in the country’s parliament. Seimas member Saulius Stoma of the Homeland Union/Christian Democrat Party has submitted amendments to the Value-Added Tax Act, […]

Brussels allocates €131 mln for NordBalt

Brussels allocates €131 mln for NordBalt

VILNIUS — The European Union officially gave the green light for the NordBalt electrical connection on Tuesday, voting to allocate €131 million for the project. The money will pay for the connection between Nydro, Sweden and Klaipėda, Lithuania, which will run under the Baltic Sea. The project is being co-managed by Svenska Kraftnaet and the […]

Prosecutorial system may be revamped

Prosecutorial system may be revamped

VILNIUS — Lithuanian General Prosecutor Darius Valys is proposing restructuring the country’s troubled prosecutorial system, saying he has spoken with members of the judiciary about the matter. Valys wants to combine different arms of the prosecutor based on geography in big cities and populous districts where interconnection would be beneficial. “The current prosecutor’s office is […]

Flick: branding right purchase was discussed

Flick: branding right purchase was discussed

RIGA — Following claims that airBaltic CEO Bertolt Flick bought the branding rights to the airline without the knowledge of the government, Flick has responded that he talked with the minister of transport at least three times about the matter. Flick’s company Baltijas Aviācijas Sistēmas bought the branding rights to the airline for €13 million […]

Rape, torture case heard in Belfast court

Rape, torture case heard in Belfast court

BELFAST, Northern Ireland — More Lithuanian-on-Lithuanian violence has occurred in the United Kingdom with a women raped at knifepoint. The incident is the most recent in a series of crimes perpetrated within the Lithuanian emigrant community in the U.K. The High Court in Belfast heard the case of a Lithuanian woman who was raped at […]

Latvian GDP best since 2008

Latvian GDP best since 2008

RIGA — In the second quarter of this year, Latvia’s gross domestic product decreased by the smallest amount since the crisis began in 2008. Initial estimates by the country’s central statistics bureau show -3.9 percent year-on-year for the Latvian economy, seasonally adjusted, and grew 0.1 percent from the previous quarter. Industrial production increased by 6 […]

Finmin: 4% GDP in 2011

Finmin: 4% GDP in 2011

VILNIUS — As economists worldwide debate the likelihood of a double-dip recession, Lithuania’s finance minister is optimistically predicting up to 4 percent growth for the economy in 2011. Recent GDP figures from the first half of the year and the second quarter show that Lithuania’s economy is growing again for the first time since 2008. […]

Jūrmala requests tax cut

Jūrmala requests tax cut

JŪRMALA, Latvia — The Jūrmala City Council announced this week that it will approach the Latvian parliament to ask to have real estate tax in the city reduced. Currently the tax scheme is favorable for large properties, while family homes are taxed at almost the same rate. Jūrmala Mayor Tomas Ražuks, who is a Lithuanian […]

Terrorism suspect free on bail

Terrorism suspect free on bail

VILNIUS — Terrorism suspect Eglė Kusaitė walked free from the Vilnius Court of Appeals on Thursday after a judge ruled that she was not at risk of fleeing the country. Judge Viktoras Kazys overturned a previous ruling, which held Kusaitė in detention for another two months. Her trial date has not been set yet. Kazys […]

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