Lithuania's construction company Panevezio Statybos Trestas (PST), together with its partners, has signed a 13.1 mln euro contract to build a new multifunctional sports center in Latvia.

Sweden's ICA Gruppen, the operator of the retail chain Rimi, has found a buyer for 17 Rimi and Iki stores in Lithuania. According to sources, a deal has been made with Lenoka, the company operating the Latvian chain Mego.

Dalius Misiunas, Maxima Grupe's CEO since February, says that one of his top priorities is the Baltic retail group's expansion in foreign markets, adding that the company may tap into capital markets to raise funds for these plans.

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.