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.

With retail stores in some European countries rationing vegetables because of shortages caused by bad weather in Spain, prices for vegetables imported to Lithuania have been on the rise as well.

UAB Merko statyba, a company of Merko Ehitus group, has started construction work on the Rinktines Urban residential development project in central Vilnius.

Russia's Alfa-Bank is seeking to recover 14.431 million euros from Vidmantas Kucinskas, one of Lithuania's richest business people and the owner of the fertilizer, fodder, sugar and turkey meat group Arvi.