EconomyStatistics Lithuania informs that in the second quarter 2014 country's gross domestic product (GDP), estimated based on available statistical data and econometric models, amounted to LTL 31316 million (EUR 9069.8 million) at current prices. Compared to the same period of 2013, the real GDP change, seasonally and working day adjusted, stood at 3.0% (working days unadjusted, GDP grew by 3.1%). Ryanair, Europe's biggest low fares airline today (July 28) announced a Q1 Net Profit of €197m, an increase of 152% over last year, although cautioned that this result was distorted by the timing of a very strong Easter in Q1 with no holiday period in the prior year comparable. Traffic grew to 24.3m as load factors rose by 4% points to 86%. Average fare rose by 9%, boosted by a strong Easter period, while total revenues were up 11% to €1.496bn. Unit costs fell by 2%, excluding fuel they rose by 1%. Statistics Lithuania informs that, based on provisional data, in June 2014, the turnover (VAT excluded) of retail trade enterprises amounted to LTL 2508.7 million (EUR 726.6 million); against May, it decreased by 3 %at constant prices (seasonally adjusted - decreased by 0.4%). Investors interested in cogeneration power plant projects - Lithuanian Co Lietuvos Energija2014-07-27, 16:28The state-controlled energy group Lietuvos Energija, which develops new cogeneration power plant projects in Vilnius and Kaunas, has attracted particular interest of potential partners with 24 legal entities from 10 different states expressing an interest to participate in the development of power plant projects. Following an assessment of the results of a non-binding survey, which lasted from 20 June to 23 July, an official and open procedure for the selection of partners will be announced later, says Lietuvos Energija in a statement. Poland-based company PKN Orlen is not going to close down its concern ORLEN Lietuva, says Lithuania's Prime Minister Algirdas Butkevicius. During the General Meeting of Shareholders of Lietuvos Dujos held on 22 July, 2014 a decision was made to pay LTL 53.3 million (EUR 15.4 million) as dividends, or 18.3 Lithuanian cents per share, said the company in a statement. Increasingly more people choose to shop online - Swedbank statistics indicate that during the first five months of 2014, the amount of online purchases by Swedbank clients increased by 25 percent as compared to the respective period of 2013. A new chief executive officer is now in charge of the airline Air Lituanica. Gytis Gumuliauskas replaces Erikas Zubrus in this position. Fighting fraud: Major progress in anti-fraud policy but Member States must do more to combat fraud2014-07-19, 16:28Member States must step up their work to prevent, detect and report fraud affecting EU funds, according to the Commission's annual report on the protection of financial interests (PIF report). The report sets out detailed recommendations on areas that national authorities should particularly focus on in this respect. The report finds that detected fraud in EU spending accounts for less than 0.2% of all funds. Nevertheless, the Commission believes that greater efforts at national level both on combatting and detecting fraud should be deployed. The annual PIF report therefore recommends, amongst other things, that Member States review their controls to ensure they are risk-based and well-targeted. On 16 July 2014, the Board of TEO LT, AB approved unaudited TEO LT, AB Consolidated Interim Financial Statements, prepared according to International Financial Reporting Standards as adopted by the European Union, and Consolidated Interim Report for the six months period ended 30 June 2014, the company announced in a statement. |
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