EconomyThe gross profit of the Lithuanian subsidiary of the largest Danish group of financial services Danske Bank A/S in 2014 was LTL 36 million (EUR 10.42 million), the branch said in an annual report. Statistics Lithuania has announced that trade turnover in Lithuania's markets totalled EUR 85.5 million in the fourth quarter of 2014 and, compared with the fourth quarter of 2013, it increased by 6.6% at constant prices. Lithuania's GDP which grew in the last quarter of 2014 as well as has been going up during the entire year allowed to temporarily halt the creation of pessimistic scenarios as Russia started punishing the producers of the European Union with various sanctions and experienced a collapse of its own economy, says financial analyst Gitanas Nauseda, advisor to the SEB bank president. Statistics Lithuania informs that in 2014 country's gross domestic product (GDP), estimated based on available statistical data and econometric models, amounted to EUR 36 270.8 million (LTL 125 236 million) at current prices. Compared to 2014, the real GDP change, seasonally and working day adjusted, stood at 2.9%. According to preliminary data, unaudited net profit earned over the year 2014 by AB SEB bankas is EUR 65.3 million (LTL 225.6 million) and by AB SEB bankas Group – EUR 72.4 million (LTL 249.9 million), the bank announced in a statement. At the 8th annual European Gas Conference 2015, in Vienna, petroleum company Klaipedos Nafta won the Project of the Year award for the implementation of the Liquefied Natural Gas (LNG) Terminal project. Anva Polytech, a rubber component producer from Sweden, is setting up a production facility in Lithuania, with the aim of creating 50 new jobs in the next 5 years. The factory, which will produce a variety of rubber components, will be established in Biržai, Panevėžys County. Turnover of retail trade and catering enterprises in Lithuania increased in December, but annually decreased2015-01-28, 11:07Statistics Lithuania informs that, based on provisional data, in December 2014, the turnover (VAT excluded) of retail trade enterprises* amounted to EUR 842.3 million; against November, it increased by 19.2% at constant prices (seasonally adjusted – increased by 0.1%). On 19-25 January 2o15, the average electricity price in Nord Pool Spot power market Lithuanian trading zone was EUR 41.14 per megawatt hour (MWh). Milder winter in North Europe and cheaper electricity from Finland led to a 6% price drop in Lithuanian and Latvia trading zones compared to the previous week. A total of 463 entrepreneurs were financed by the Entrepreneurship Promotion Fund (VSF) in 2014 in Lithuania, or by 55% more than in 2013. Young people aged up to 29 years old were the most enterprising. |
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