EconomyLithuania's companies posted more than 1 billion euros in aggregate pretax profits for the first quarter of 2016, up by 31.2% compared with a year ago and up 14.3% from a quarter ago, Statistics Lithuania said on June 10th. The Lithuanian state received 1.6% more revenue than planned in the first five months of 2016, putting the total revenue figure at 2.424 billion euros, the government said. The 2016 revenue indicates an increase by 8.5% (190.2 million euros) year-on-year. Lithuania's Senukai-controlled Romos Holdingas, the operator of the Oma chain of building materials and tools in Belarus, in 2015 posted 116.404 million euros in consolidated revenues. The state-run company Lietuvos Gelezinkeliai (Lithuanian Railways, or LG) will pay 845,700 euros in dividend to the state, which accounts for 20% of its retained earnings. Swedbank will provide loans, guaranteed by the European Investment Fund (EIF), to small and medium-sized enterprises in the Baltic countries. The central Bank of Lithuania has started holding reverse auctions of public sector purchase program via Bloomberg auctions platform. As part of its participation in the expanded asset purchase program within the Eurosystem, the bank tested the system on June 2nd. Biriu Kroviniu Terminalas (Bulk Cargo Terminal, or BKT), a company that has observed rapid growth over the past few years, is readying for a 40-million-euro expansion and subsequent double increase in its loading capacity. German-owned retailer Lidl Lietuva on June 2nd opened its first 15 stores in Lithuania, the 26th market where the chain operates. Amid signs of overheating on the mortgage market in Sweden, Lithuanian banks and real estate developers say that the Swedish troubles are not relevant for Lithuania, while independent experts are convinced that crediting in the Baltic States would be stalled. Lithuanian and Polish railway companies are set to launch a regular passenger service between Kaunas and Bialystok in mid-June 2016, following six months of negotiations. |
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