![]() EconomyAccording to the results of the Survey of the Payment Habits of Lithuanian Residents, in 2016 survey participants holding accounts made utility payments slightly more often online, while at payment institutions – less often. Other payments, by nearly all of the surveyed, were made online rather than at bank or credit union branches. Cash payments were made somewhat less frequently at trading venues. The average price of electricity in Nord Pool Spot's Lithuanian bidding area declined by 27% over the past year to 36.9 euros per megawatt-hour in January. M-o-m, the price climbed 6%, Litgrid said on Wednesday. Maxima Grupe (Maxima Group), the operator of retail chains in the Baltics, Poland and Bulgaria, saw its consolidated retail turnover ticked up 0.2% to 2.684 bln euros (excluding VAT) in 2016 year-on-year. Spending by foreign visitors at Lithuanian retail stores fell by 11% in 2016 compared with 2015 and the value of the average shopping basket was down by 5%, the business daily Verslo Zinios reported on Tuesday, citing data from the tax refund company Global Blue Lietuva. Lithuanian-owned, Warsaw-listed aviation business group Avia Solutions Group (ASG) is planning to expand in Asia in the next three years, but it would not disclose how much money it intends to invest in that market. Lithuania's beer market leader Svyturys -Utenos Alus, which is part of Carlsberg, one of the world's largest beer groups, will sack 20 employees out of the 57 in Klaipeda. The company has breweries in Klaipeda and Utena. Statistics Lithuania informs that, based on non-final data obtained from customs declarations, Intrastat reporting and VAT returns data, exports in December 2016 amounted to 2 016 mln, imports – EUR 2 254 mln. Exports of goods of Lithuanian origin amounted to EUR 1 158 mln. The foreign trade deficit of Lithuania amounted to EUR 238 mln. Sweden's ICA Gruppen, which operates Rimi Lietuva retail chain in Lithuania, will shortly submit the necessary documents to the Competition Council in connection to the intentions of buying another retailer Palink, the operator of Iki supermarkets. Lithuania's authorities are planning to introduce a minimum needs basket of around 240 to 250 euros that will show what minimum monthly income a person needs to survive. The price of electricity in Nord Pool Spot's Lithuanian bidding area last week averaged 36.5 euros per megawatt-hour, down by 7% from the previous week and down by 15% from the year-earlier level. |
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