EconomyThe Lithuanian Finance Ministry has redeemed bonds with a face value of 200 mln US dollars prior to maturity in the secondary market. Talks between Lietuvos Gelezinkeliai (Lithuanian Railways, or LG) and the Lithuanian unit of the Polish oil group Orlen on freight transportation rates have broken down again, Transport Minister Rimantas Sinkevicius said, adding that the dispute is likely to be taken to court. Latvia's building materials and household goods chain Depo is looking to open its first store in Klaipeda by this Christmas with plans to open four more stores in other Lithuanian cities in late 2017, which means that the Latvian retailer is unlikely to have any major impact on the market until 2018. Lithuania's state-run companies posted 137.499 mln euros in an aggregate normalized profit (net profit excluding property and commodity taxes payable to the state) in January through September 2016, up by 18.9%, from 115.602 mln euros, from the same period of 2015. Lithuania's Klaipedos Nafta signs long-term fuel oil loading contract with Belarus' BNK2016-10-22, 10:38Klaipedos Nafta (Klaipeda Oil), the Lithuanian state-controlled oil loading company, has signed a long-term three-year fuel oil loading contract with the Belarusian oil company Belorusskaya Neftyanaya Kompaniya (Belarusian Oil Company, or BNK ). Lithuania plans to spend over 170 mln euros on information and communication technology (ICT) development over the next three years, with a large portion of the money to go toward making various public and administrative services available online. Lithuania's regulator has given the green light for merging the mobile operator Omnitel into the integrated telecoms, IT and TV services provider Teo LT. A figure in the budget of Lithuania's state-run social insurance fund Sodra warns that if several thousand more people enter the labor market than leave it in 2017 and 2018, the total number of the insured will remain unchanged and the labor market will come close to its bottom as soon as in 2019. The Lithuanian seaport of Klaipeda continues leading the ports of other Baltic countries in terms of container loading volumes in the first nine months of 2016. Lithuania has been chosen as the location for one of two settlement centers between the European Union and China due to broad attitude of Lithuanians, friendly bureaucrats and recommendations of Chinese companies investing in Klaipeda. |
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