EconomyStatistics Lithuania informs that in February 2016 industrial production totalled EUR 1.46 billion at current prices and, compared to January, increased by 2.4% (1) at constant prices (seasonally and calendar unadjusted – increased by 2.7%). The Lithuanian Finance Ministry on March 18th lowered its GDP growth forecast for the year 2016 to 2.5%, from 3.2% projected last September. Ministry forecasts that the changing bargaining power in the labor market will improve workers' prospects for wages and that unemployment in the country will continue to ease. In October, number of employees who earned EUR 325 and less stood at 19.2% in Lithuania2016-03-20, 16:25Statistics Lithuania informs that in October 2015 the number of employees (including individual enterprises) with gross earnings of EUR 325 and less stood at 212.1 thousand (19.2%). More than half of employees (127.8 thousand) earning EUR 325 and less were working part-time. Investors in Lithuania generate higher returns and pay off their investments faster than those in other investment locations, according to a new study. The study, conducted by analysts at the investment development agency Invest Lithuania, looked at levels of return on invested capital (ROIC). They concluded that, thanks to strong ROIC levels, companies see their investments in Lithuania pay off 30% faster than in other locations. Easing unemployment and labor shortages in some sectors, coupled with increased minimum wages, are driving average wages in Lithuania higher, the central bank said on March 17th. Rimi Baltic to invest EUR 75 mln in new warehousing, administrative complex in Riga2016-03-17, 16:42Deglava Real Estate, a company of Rimi Baltic group, which operates Rimi retail stores in Latvia, Estonia and Lithuania, has announced a tender for construction of a warehousing and administrative complex in Riga, and total investments in the project are planned at EUR 75 million. With Lithuanian and foreign companies getting ready to launch the sale of liquefied natural gas (LNG), as vessel fuel, from the port of Klaipeda and to supply LNG to smaller terminals around the Baltic Sea, Klaipedos Nafta (Klaipeda Oil), the operator of the Lithuanian LNG terminal, is amending the facility's rules so as to pave the way for such operations. Lithuania's central government and local governments collected a total of 1.132 billion euros in budget revenue in the first two months of 2016, exceeding the revenue target for the period by 25.1 million euros, or 2.3%. Silutes Baldai (Silute Furniture), a Lithuanian furniture manufacturer that supplies more than 90% of its output to Ikea's stores in 20 countries worldwide, last year increased its sales revenue by 5% on the back of success of new products and a rise in output and exports and targets an 11-% revenue growth in 2016, the Verslo Zinios business daily reports on March 14h. Deutsche Post DHL has unveiled plans to offer 6,500 parcel shops in the Nordic and Baltic countries by the end of 2016, posing competition to the state postal company Lietuvos Pastas (Lithuanian Post), which owns over 70 LP Express24 self-service parcel terminals. |
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