EconomyThe Lithuanian seaport of Klaipeda handled 13.29 million tons of cargo in January through April 2016, up 9.1% from 12.181 million tons a year earlier. Butinge crude terminal, which is owned by Orlen Lietuva, the Lithuanian unit of Poland's PKN Orlen, posted a 13.7% year-on-year growth in oil. Lithuania's gas trade company Litgas, which is operated by state-run Lietuvos Energija (Lithuanian Energy) holding, earned 209.294 million euros in income in 2015 and netted a profit of 4.923 million euros. The European Central Bank said on May 4th it would no longer produce and issue EUR 500 banknotes, amid fears the purple-colored bills were favored by criminals for money laundering and even terrorist financing. Lithuania's oil product and liquefied natural gas (LNG) terminals operator Klaipedos Nafta (Klaipeda Oil) said on May 6th that its total revenue for January through April 2016 rose by 9.9% year-on-year to reach 39.82 million euros. This year marks 10 years since ‘PKN Orlen’ became the owner of the oil refinery in Mažeikiai. Today ‘Orlen Lietuva‘ (known as ‘Mažeikių nafta‘ until 2009) is the largest Polish investment and the largest tax payer in Lithuania. It is also the largest foreign investment on Lithuanian territory. There are EUR 51.6 million of funding available for Latvia-Lithuania cooperation projects from the European Regional Development Fund (ERDF). Lithuania still interested in buying the Klaipeda LNG terminal's vessel from its owner2016-05-03, 09:53Energy Minister Rokas Masiulis says that Lithuania remains interested in buying the Klaipeda liquefied natural gas (LNG) terminal's vessel from its owner, Norway's Hoegh LNG, before the 10-year charter contract expires in 2024, but it is difficult to say if meetings to be held by Prime Minister Algirdas Butkevicius and him in Oslo this week will help move the talks forward. Operating income of Danske Bank Estonia increased in the first quarter of 2016 by 15% year on year to 5.6 million euros and net profit grew 47% to 3.2 million euros. Lithuanian branch of Danske Bank said that its first-quarter net profit from core activities of corporate and private banking fell to 3.3 million euros and in Latvia Danske Bank closed the first quarter with EUR 0.92 million in profit. Studio Libeskind has won an international competition organized by Lords LB Asset Management to design a new 40-million-euro commercial complex in Konstitucijos Avenue, on the right bank of the Neris River in Vilnius, the investment management company said on April 29th. Lithuania's agricultural investment group Linas Agro Group is buying a fertilizer trade business in Latvia. Linas Agro Group intends to purchase Paleo for nearly 4.6 million euros and take over a fertilizer trade business and trademark from Latfert, with the 4.59 million euro deal to be closed in October of 2017. |
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