Lithuania's exports shrank by 5.4% in January-October 2020 from a year earlier to 23.367 billion euros, and its imports slumped down by 11.4% to 23.681 billion euros, the country's statistics office said on December 10th.

Banks and foreign bank branches in Lithuania saw their combined net profits drop by 21.6% in January-September 2020 to 213.1 million euros, from 271.9 million euros a year ago.

Wittix, an electronic money institution, and Hanan Assis, its CEO, have been fined for improper safeguarding of client money.

Europe's largest secondhand clothing and accessory marketplace Vinted has launched in Italy. The company says the country's residents can use its app as of last week.

Lithuania's consumer prices edged down by 0.1 percent in November from October, resuming their downward trend after two months of positive inflation, the country's statistics office said.

Lithuania's oil terminal, operated by state-owned company Klaipedos Nafta (Klaipeda Oil, KN), is starting preparing its storage facilities for bitumen handling.

US-based biotech giant Biogen has this week launched operations in Lithuania where it plans to carry out clinical trials and other projects with local partners. Biogen said on Friday it opened its office in Vilnius on December 1.

Average gross monthly wages rose by 3% to 1,603.4 euros in the region of Vilnius and went up by 5.2% to 1,339.3 euros in the rest of Lithuania in the third quarter compared to the second quarter 2020.

Eliq, a Swedish company developing customer engagement software for energy suppliers, has announced plans to open a product development office in Vilnius.

Lithuania's pipeline construction company MT Group has been awarded a contract worth almost 64 million euros to build a Polish segment of the Baltic Pipe pipeline that will link Norway with Denmark and Poland.