EconomyThe Lithuanian government is initiating the construction of wind power plants in the Baltic Sea, with projects to be implemented following the examples of Denmark and Germany. The Lithuanian and Algerian authorities are finalizing veterinary certificates for Lithuanian meat product exports to the North African country, the daily Lietuvos Zinios reported on Friday. Vilniaus Prekyba, the owner of Lithuania's grocery chain Maxima, the drugstore chain Eurovaistine and the DIY-chain Ermitazas, posted 3.17 billion euros in consolidated revenue, not including VAT, for 2015, up 3.7% from 3.06 billion euros in 2015. In the first quarter of the year 2016, the highest office space rental prices in the Baltic countries were in Vilnius and at the same time vacancy was the lowest in the Lithuanian capital, Colliers said in its Baltic property overview. Klaipedos Nafta (Klaipeda Oil), Lithuania's state-controlled liquefied natural gas (LNG) terminals operator, may continue developing the joint LNG reloading station project together with Germany's LNG supplier Bomin Linde LNG. Warsaw-listed, Lithuania-based aircraft leasing company AviaAM Leasing and China's Henan Civil Aviation Development and Investment Company (HNCA) have signed an agreement to establish a joint venture for aircraft leasing. Pieno Zvaigzdes, one of Lithuania's largest dairy producers, is gradually raising exports volumes to countries outside the European Union (EU). About one-third of the consumer financing granted in 2015 was issued to people in the age group of 25-34 while youngsters under 24 years of age were most reluctant to take consumer loans from commercial banks, according to the SEB Baltic Household Outlook. Competition on the global market of liquefied natural gas (LNG) should continue growing, which should be in the benefit of Lithuania, experts say. The International Monetary Fund (IMF) recommends that Lithuania should strengthen its credit unions sector and carry out structural reform of the sector. |
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