EconomyPrices in the Lithuanian electricity market rose last week due to wintry weather conditions, which caused overhead lines to break under the weight of ice and forced wind turbines to stand idle. The housing market continues to heat up, with a 12.3 per cent increase in transactions from 2015. With low interest rates still prevailing, a large share of flats is being acquired for investment purposes, which raises property prices. The Bank of Lithuania closely monitors the situation and is ready to respond if necessary told the central banks representatives. MG Valda to invest EUR 14 mln in Apranga's new office and logistics center in Vilnius2017-01-25, 09:47Apranga, the Baltics' leading clothing retailer that is controlled by MG Baltic, is building a new office and logistics center in the northern part of Vilnius, close to the city's new western bypass, with MG Valda, the developer of the Vilnius Business Park where the center will be located, set to invest 14 mln euros in the project. Statistics Lithuania informs that in December 2016 industrial production totalled EUR 1.69 bln at current prices and, compared to November, seasonally and calendar adjusted, grew by 1.1 % at constant prices (unadjusted – decreased by 0.2%). Poland's trimming of GIPL route to give Lithuania additional EUR 3 mln in EU support2017-01-23, 10:32As Poland trims the projected Gas Interconnector Poland-Lithuania ( GIPL ) and postpones of the overall project implementation for two years, Lithuania will receive additional 3 mln euros in support from European Union (EU), which will put the total support at 58 mln euros. Lithuania should secure permits to export beef and poultry products to Japan by the beginning of March, which would enable Lithuanian producers to seek direct opportunities to export their products to the market. The spending of Lithuanian households on essential goods remains the lowest in the Baltic states, however, is rapidly catching up with Latvia, shows an index of household spending published by the research company Baltic Market Insights (Baltmi). According to the survey, Lithuanians spend an average of nearly 2 euros more than Latvians during a single visit to the store, however, are still behind Estonia. Startup DealLink.biz, a Lithuanian-built B2B open procurement platform, has successfully expanded into the Finnish and Polish markets, it announced. The company also confirmed it will start operations in Sweden in January 2017, in Denmark in March, and in Norway in May. Rimi Baltic retail company is set to announce next week a new project providing for construction of a logistics center for EUR 75 mln, the company's representatives said. Vilkyskiu Pienine, one of Lithuania's largest dairy companies, has sent the first shipment of its products to China, becoming the first Lithuanian dairy to export to China – the cargo of 20 t of mozzarella should reach the Chinese market within about a month. |
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