EconomyThe euro zone could get bigger next year after the European Commission said Lithuania is ready to adopt the common currency. That is the conclusion of the convergence reports published on 4 June by the Commission and the European Central Bank, assessing eight EU countries' readiness to join the euro zone. A final decision will be made by the Council at the end of July after consulting the Parliament. Lithuania is pursuing the goal to extend the Mongolian Vector railway project route to its territory. Turnover of the Lithuania-based producer of refrigerators Snaige reached 33.6 million litas in the first quarter of the year 2014, according to unaudited consolidated data; which is 18% higher than the turnover of the same period last year, the company said in a statement. Lithuania is most favourable country for investment in Baltic States2014-06-05, 16:19The 2014 Baseline Profitability Index (BPI), presented in Foreign Policy magazine by Daniel Altman, rates Lithuania the most favourable country for investment in the Baltic States and ranks it second in Europe for expected investment returns. Estonia is ranked 18 and Latvia – 22nd. Profit of Utenos Trikotazas in Q1 totalled 0.6 mln litas2014-06-04, 11:16Consolidated Group operating profit of the Lithuania-based textile company for the first quarter of 2014 was 0.6 million litas, as in the same period in 2013 the group incurred 0.8 million litas operating loss, Utenos Trikotazas said in a statement. Bank of Lithuania: insurance market continues to grow strongly in Q12014-06-03, 18:52The insurance undertakings registered in the country and branches of insurance undertakings of other European Union Member States established in Lithuania in the first quarter of 2014 wrote LTL 486.9 million (EUR 141.0 million) of insurance premiums, a one-tenth increase year on year. Deficit decrease in Lithuanian government sector in 4 months2014-06-02, 11:50According to the Ministry of Finance data the central government deficit in Lithuania in January-April 2014 amounted to LTL 1.379 billion (EUR 0.40 billion) and was LTL 0.166 billion (EUR 0.05 billion) or 0.2% GDP smaller than year on year. Lithuanian Finasta Asset Management announces upcoming fund merger2014-05-31, 14:08By seeking to act in its clients best interests as well as in best interests of its managed investment funds, has approved the merger of two investment funds, where Finasta Word Equity Fund Subfund will be incorporated into Harmonized investment fund Finasta Baltic Fund, Finasta Asset Management announced in a statement. In Q1, GDP of Lithuania grew by 3%2014-05-30, 12:51Statistics Lithuania, based on more comprehensive business, tax and price statistics, has revised the first GDP estimate for I quarter 2014 and, additionally, estimated GDP components by production and expenditure approaches. According to the revised data, in I quarter 2014, GDP at current prices amounted to LTL 27694 million (EUR 8020.8 million). Lithuanian companies more successful abroad2014-05-29, 11:13Compared to Latvia, Lithuanian companies are more successful in investing abroad, Guntars Krols, partner of the auditing, taxation, transaction and consultation service provider EY. |
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