EconomyLithuania's public debt totaled 15.815 billion euros at the end of 2015, accounting for 42.5% of last year's GDP, data from the Finance Ministry showed on March 31st. Siauliu Bankas, a Lithuanian bank controlled by the European Bank for Reconstruction and Development (EBRD) and a group of local investors, is set to increase its authorized capital by 18.245 million euros to 109.472 million euros from undistributed profits and to pay out 629,000 euros, or 0.2 euro cent per share, as dividends to shareholders. Lithuania's retail sales, excluding car sales and repairs and food and beverage service providers, for January through February 2016 rose by 6.8% year-on-year to 1.315 billion euros, not including VAT, figures from Statistics Lithuania showed on March 29th. In the first two months of the year 2016, compared to the same period last year, the Port of Klaipeda was the only Baltic port to register an increase in cargo turnover. Apranga, the largest Baltic fashion retail chain, is opening the first Sandro and Maje stores in the Baltic countries on March 24th. The Scandinavian financial group Swedbank has received the green light to take over the Lithuanian retail banking business of Danske Bank, the second-biggest financial group in Northern Europe by assets. The Lithuanian Competition Council cleared the deal, whose value is not being disclosed, on Tuesday. "The transferred share of Danske Bank Lithuania Branch's assets, rights and liabilities in the relevant markets cannot be considered significant," it said. Swedbank and Danske Bank said that the service transfer would be carried out between Jun. 3 and Jun. 6 and would be free of charge to customers. "Specialization of banks is a widespread phenomenon in the world. From now on Danske Bank will focus on the activity which is the strong side of the bank, i.e. on business and private banking, in Lithuania," Gintautas Galvanauskas, CEO of the Danske Bank branch, said in a press release. Lithuania's banking sector is transparent and healthy with no suspicious or threat-posing banks left, Vitas Vasiliauskas, the central bank's governor, said on March 24th. Klaipedos Juru Kroviniu Kompanija (Klaipeda Stevedoring Company, or Klasco), which is part of Achemos Grupe (Achema Group), will distribute 3 million euros as dividends to shareholders, or 0.238 euros per share, after posting a pretax profit of 5.7 million euros for 2015. With the European Central Bank (ECB) cutting its deposit rate further into negative territory, businesses are increasingly concerned that they may be charged for keeping their money with the domestic commercial banks. Households also fear that they may be charged for deposits whereas banks assure their customers that they do not plan any changes in the deposit market, the Lietuvos Zinios daily reports on March 22nd. All three Baltic countries posted growth in new heavy commercial vehicle sales in 2 months2016-03-23, 14:33All three Baltic countries posted growth in new heavy commercial vehicle sales in the first two month of 2016, figures from the European Automobile Manufacturers' Association (ACEA) showed on March 23rd. |
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