International Internet Magazine. Baltic States news & analytics
Monday, 05.12.2016, 06:29
As the new Vilnius office of Exadel, an international software engineering company, opens its doors, the company has announced ambitious plans to grow its operations in Lithuania. The US-based company currently employs over 50 specialists in Lithuania, and is now planning to recruit a further 150 staff in the coming two years. This recruitment drive is part of a long-term, five-year development plan for which the company plans to invest €19 million.
Keyword tags: EU – Baltic States, Good for Business, Internet, Investments, Lithuania, Markets and Companies
With its accounts being frozen by a court, Vilniaus Energija (Vilnius Energy), a local district heating supplier controlled by France's Veolia, is not paying Danpower Baltic, a German-Lithuanian joint venture, for the heat energy its has produced, reported LETA/BNS.
Stasys Dailydka, long-standing CEO of Lietuvos Gelezinkeliai (Lithuanian Railways, or LG), has turned in his resignation to the state-run company's board on Friday.
FL Technics, an aircraft maintenance, repair and overhaul (MRO) services company that is part of the Lithuanian-owned, Warsaw-listed aviation group Avia Solutions Group (ASG), has opened an airplane servicing center in the airport of Indonesia's capital Jakarta, informed FL Technics representative.
The Baltic business of Swedish media holding Modern Time Group (MTG) might attract interest also from Russia, the surveyed experts told LETA.
Assessing the general development trends of commercial property in Lithuania, it can be seen that currently the eyes of commercial property developers are essentially focused on only certain segments and certain cities – Vilnius and Kaunas. In Vilnius, the office and hotel segments are the subjects of special attention, whereas in Kaunas, it seems that there is a real boom in the construction of office projects. In other regions of the country, investments in the development of commercial property are substantially scarcer – generally, we see the construction of grocery and construction materials’ shops, as well as the renovation of already-existing shopping centres or a few industrial purpose projects in the free economic zones of Lithuania, Ober-Haus writes in review of the commercial real estate market.
Electricity prices for most consumers in Lithuania are set to decline by 8.3% next year, reports LETA/BNS.