A court has ordered Orlen Lietuva, the Lithuanian unit of Poland's oil group Orlen, to pay a group of inventors another 1.983 million euros for the use of a piece of equipment they invented.

Lithuania's state-run railway company Lietuvos Gelezinkeliai (Lithuanian Railways) plans to invest 7 billion euros by 2030 and reach a turnover of 725 million euros, up 60 percent from last year. The company's profit is set to double over the next 12 years.

Dutch IT company Convious is opening a research and experimental development center in Vilnius and is looking for software engineers and data analysts, with 30 people expected to be employed by the end of 2018.

Bazaarvoice, a US company that develops technologies connecting brands to consumers, on July 3rd opened its office in Vilnius, with plans to hire 70 to 80 professionals in Lithuania in the next six months and pay them 1.6 million euros in salaries annually.

With the Lithuanian government due to decide on the future of the Klaipeda liquefied natural gas (LNG) terminal, businesses call on the authorities to look for ways to lower the terminal's costs for gas consumers and energy experts say that these costs will go down and that the floating storage and regasification unit (FSRU) will remain useful to the country in the future as gas will play an increasingly important role.

The Bank of Lithuania and Statistics Lithuania announce that in I quarter 2018, exports of services amounted to EUR 2.0 billion, imports – EUR 1.3 billion. The surplus of balance of services amounted to EUR 773.8 million, or 7.8% of GDP, and against I quarter 2017 increased by EUR 179.6 million, or 30.2%.

Lithuania's pet food manufacturer Mars Lietuva, which is part of the international food industry giant Mars, plans to invest 18 million euros in expansion.

Statistics Lithuania informs that in May 2018, against April, construction input prices increased by 0.6%. The greatest influence on the overall price change was made by a 1.3% increase in wages and salaries, 0.4% increase in prices of construction materials and products, as well as by a 0.3% decrease in overheads. An increase in average gross hourly earnings was determined by increased lump sum premiums, bonuses and benefits.

The existing interconnection between Lithuania and Poland and a reserve link will be used for the synchronization of the Baltic power grids with the Continental European network, the Lithuanian president's chief advisor said on June 27t.

The Bank of Lithuania has not changed its GDP forecasts. The central bank still expects Lithuania's economy to grow 3.2% this year and slow to 2.7% next year.