Electricity prices in the Baltic and Nordic countries remained high last week as the cold snap continued to grip the region, Lithuania's power transmission system operator Litgrid said on Monday.

The international credit ratings agency Standard & Poor's has given a positive mark to Lithuania's fiscal policies and economic growth outlook, revising the its outlook to the country's credit rating.

The banking union was created in the wake of the financial crisis and involves supervising the largest banks at EU level as well as ensuring that when banks go bankrupt, they do so at minimal cost for tax payers, while afecting the economy as little as possible.It is also about protecting smaller savers.

Russia's airline RusLine will resume flights from Moscow to Palanga, Lithuania's biggest resort on the Baltic Sea, during the summer season.

Lithuania's economic growth was last year slower than that of the other two Baltic states, according to data provided by national statistics agencies.

Statistics Lithuania informs that in January 2018, based on provisional data, industrial production totalled EUR 1.8 billion at current prices and, compared to December 2017, seasonally and calendar adjusted, decreased by 1.1% at constant prices (unadjusted – decreased by 0.9%).

Capella Baltica, a Spanish cosmetics and food industry supplier, has just signed a 10M EUR investment deal to build a 2500 sq. m powder and oil extract production plant and laboratory at the Klaipeda Free Economic Zone. The company plans to employ up to 40 engineers, biochemists and other specialists at the Klaipeda facility to supply customers from EU, US, Canada and Asia.

A Dutch information technologies company Centric is coming to Lithuania and has founded a subsidiary Centric IT Solutions Lithuania.

According to Statistics Lithuania, in IV quarter 2017, the country’s accommodation establishments received 607.4 thousand tourists, or by 8.9% more than IV quarter 2016. Compared to IV quarter 2016, the number of overnight stays grew by 7.5%. One guest stayed in an accommodation establishment for, on average, 2.2 nights.

Baltic Ground Services (BGS), which is part of the Lithuanian-owned, Warsaw-listed aviation business group Avia Solutions Group, plans to allocate 18 million euros for reinforcing its position in foreign markets.