![]() EconomyLithuania's state energy group Lietuvos Energija (Lithuanian Energy) and European Investment Bank (EIB) on Monday signed a loan of 190 mln euros for the biomass and waste-fired cogeneration plant in Vilnius. During a follow-up public offering of Baltic Horizon Fund, a recently listed closed-end real estate fund, investors subscribed units worth 20.6 million euros and the fund has decided to allocate each investor all units they subscribed for. With its accounts being frozen by a court, Vilniaus Energija (Vilnius Energy), a local district heating supplier controlled by France's Veolia, is not paying Danpower Baltic, a German-Lithuanian joint venture, for the heat energy its has produced. As the new Vilnius office of Exadel, an international software engineering company, opens its doors, the company has announced ambitious plans to grow its operations in Lithuania. The US-based company currently employs over 50 specialists in Lithuania, and is now planning to recruit a further 150 staff in the coming two years. This recruitment drive is part of a long-term, five-year development plan for which the company plans to invest €19 million. Electricity prices for most consumers in Lithuania are set to decline by 8.3% next year. Vilnius’ and Kaunas’ office market might require international companies’ assistance2016-12-01, 12:09Assessing the general development trends of commercial property in Lithuania, it can be seen that currently the eyes of commercial property developers are essentially focused on only certain segments and certain cities – Vilnius and Kaunas. In Vilnius, the office and hotel segments are the subjects of special attention, whereas in Kaunas, it seems that there is a real boom in the construction of office projects. In other regions of the country, investments in the development of commercial property are substantially scarcer – generally, we see the construction of grocery and construction materials’ shops, as well as the renovation of already-existing shopping centres or a few industrial purpose projects in the free economic zones of Lithuania. The turnover of enterprises engaged in wholesale and retail trade of motor vehicles and motorcycles in Lithuania increased by 0.1% over the month2016-11-30, 14:29Statistics Lithuania informs that, based on provisional data, in October 2016, the turnover (VAT excluded) of enterprises engaged in wholesale and retail trade and repair of motor vehicles and motorcycles amounted to EUR 270.3 million at current prices, and, against September 2016, seasonally and calendar adjusted, increased by 0.1% at constant prices (unadjusted – by 3.1%). Average gross monthly earnings in Lithuania's economy, excluding sole proprietorships, rose by 7.9% in the third quarter of 2016 compared with a year earlier to reach 793.3 euros. Swedish company ICA Gruppen, which operates the Rimi retail chain in Lithuania, has officially confirmed it was holding talks on the acquisition of Iki retail chain. Lithuania could store more natural gas at the Incukalns underground gas storage facility in Latvia after the neighboring country next year separates it from Latvijas Gaze as part of the implementation of the EU's Third Energy Package. |
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