EconomyExtraordinary event has occurred in Lithuania's telecommunications market – one of the most lucrative internet, cable TV and landline telecommunications service providers Cgates is going to be sold. Statistics Lithuania informs that in October 2014 industrial production totalled LTL 6 billion (EUR 1.75 billion) at current prices and, compared to September, grew by 5.5% at constant prices, seasonally adjusted – by 4.9%. Minister of Energy in Lithuania Rokas Masiulis welcomed the participants of the Baltic Energy Forum 2014. He emphasized that the Liquefied Natural Gas (LNG) terminal will change the rules that the energy market operates under. Lithuania-based Lithuanian Free Market Institute (LFMI) was awarded Atlas Network's prestigious Templeton Freedom Award for its Municipal Performance Index for Freedom and Free Enterprise. On November 17th, Polish Business Awards were handed out for the third time in Lithuania in 2014. Trade and Investment Promotion Section of the Polish Embassy is organising Polish Business Awards. The European Central Bank will take unconventional monetary measures if the economic situation in the euro area requires them, ECB President Mario Draghi reiterated to economic and monetary affairs MEPs on Monday. As the Banking Union takes shape, risks could migrate from banks to the non-banking sector, he warned. Also, speaking as chair of the Systemic Risk Board, he added that there is "a vast scope for more coordination of sanctions against banks between the US and Europe". State enterprise the Deposit Insurance Fund, which paid out insurance to the customers of the bankrupt Bank Snoras, is yet to recover LTL 498 million (EUR 144.2 million) from the bank, estimates Chairman of the Board of the Bank of Lithuania Vitas Vasiliauskas. In September 2014, the build-up of the current account balance (CAB) in surplus (LTL 346.8 million, or EUR 100.4 million) was driven by growth in the surplus balances of secondary income and capital account, as well as the remaining surplus in the balances of services. Based on provisional data of the Ministry of Finance in Lithuania, in January-October 2014 the state budget received by 0.9% more than projected revenue from tax, whereas the aggregate state budget revenue collection plan has been fulfilled at 100.5%. In October 2014, Klaipėda Port cargo turnover has grown by 24.3%: total of 3,652.8 thousand tons (including LNG – 48.6 thousand tons) were handled, i.e. 713.6 thousand tons more than in October 2013, reports BC port's marketing specialist Mantas Stoncius. |
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