Tadas Karosas, a minority shareholder of Morele, the Polish owner of Lithuania's e-retailer Pigu, does not deny that he met with Jack Ma, founder of the Chinese e-commerce giant Alibaba, last week. "It's confidential, I can't comment (...) I can't deny," he told.

The Bank of Lithuania published the MFI balance sheet for June 2019, which shows that deposits of Lithuanian residents with credit institutions reduced by €49.7 mln over the month.

Baltija, one of Lithuania's largest recreation and wellness complexes, was auctioned off on Wednesday as the starting price was lowered to 4 mln euros after ten unsuccessful attempts to sell the property in the seaside resort of Palanga.

Electricity market prices in the Baltic countries jumped by 7% on average last week to cross the 55-euro mark.

Lithuania's state-run oil and LNG terminal operator Klaipedos Nafta (Klaipeda Oil) is partnering with other international companies and will take part in a 500 mln euro tender for the design, construction and operation of the Cyprus LNG import terminal.

The Board of the central Bank of Lithuania has issued electronic money institution licenses to PCS Transfer and Simplex Payment Services, authorizing them to issue electronic money and provide certain payment services.

Metso, a leading Finnish minerals and process technology company, plans to open a services center in Vilnius in late 2019 and hire several dozen people, Lithuania's foreign investment promotion agency Investuok Lietuvoje (Invest Lithuania) said.

Jack Ma, founder of the Chinese e-commerce giant Alibaba, visited Vilnius this week.

LG Cargo, a rail cargo company which is part of Lithuania's state-run railway company Lietuvos Gelezinkeliai (Lithuanian Railways), has been observing a downward tendency for cargo recently and hopes to maintain last year's result.

The Lithuanian government is expected to endorse this week the security plans of the natural gas transmission system operator Amber Grid, which is carrying out the Gas Interconnector Poland-Lithuania (GIPL) project in Lithuania's territory.