Michal Rudnicki, until recently CEO of Ventus-Nafta, a Lithuanian retail fuel chain owned by Poland's Orlen, has taken over as CEO of the Polish group's Lithuanian crude refining and transportation company Orlen Lietuva.

Ireland's regional airline CityJet, which set up a subsidiary in Lithuania last August, is expanding operations in the Scandinavian and Baltic region, with plans to hire 40 employees in Vilnius and invest over 2 million euros.

Rifas, a Panevezys-based electronic system production company operated by Estonian group Harju Elekter, is expanding in Lithuania and plans to hire 100 new employees over the next three years in addition to the current staff of 120.

Lithuanian companies' cumulative direct investment abroad totaled 2.8 billion euros in late September of 2017, according to preliminary reports. Investment in EU countries made 89.4% of Lithuania's total direct investments abroad and investment in the euro area was 73.5%.

Lithuania's minimum monthly wage rose by 20 euros to 400 euros on Jan. 1, 2018. The minimum had been last increased in July 2016, from 350 to 380 euros.

The Bank of Lithuania and Statistics Lithuania announce the III quarter 2017 data on exports and imports of services broken down by country and type of service. In III quarter 2017, exports of services amounted to EUR 2.2 billion, imports – EUR 1.3 billion, the surplus of the balance of services – EUR 899.2 million, or 8% of GDP. In III quarter 2017, against III quarter 2016, the surplus of the balance of services increased by EUR 285.9 million, or 46.6%, which was a result of exports of services growing faster than imports (22.5 and 10.2% respectively).

Statistics Lithuania informs that, based on provisional data, in November 2017, the turnover (VAT excluded) of retail trade enterprises amounted to EUR 874.8 million at current prices, and against October 2017, seasonally and calendar adjusted, increased by 1.2% at constant prices (unadjusted – decreased by 2.2%).

Sweden's furniture group Ikea is investing almost 47 million euros in a new furniture factory in Kazlu Ruda, a town in southern Lithuania, with the project expected to create at least 20 new jobs.

Wurth Group, a German company selling mounting and assembly materials, has requested for a sanction to control the Lithuanian lightning solutions company Gaudre.

Lietuvos Gelezinkeliai (Lithuanian Railways) has signed a three-year contract with Lifosa, one of Europe's biggest phosphate fertilizer exporters, the state railway company said on December 22nd.