Electricity prices for most consumers in Lithuania are set to decline by 8.3% next year.

Assessing 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.

Statistics 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.

Latvia's building materials and household goods chain Depo has opened its first store in Klaipeda, making it the first store in Lithuania. According to informal reports, investments in the store totaled about 15 mln euros (excluding VAT).

US technology services giant Computer Sciences Corporation (CSC), which employs almost 500 people in Lithuania, is looking at whether CSC Baltic's services center in Vilnius could maintain Nordic e-health systems.

Lithuania is to attract IT, business process outsourcing, financial and other services enterprises to free economic zones (FEZs). Due to decision of Parliament of the Republic of Lithuania capital investment of service companies will have to exceed EUR 100 000 and employ at least 20 full time employees to receive incentives.

The European Commission set out a strategic approach for achieving sustainable development in Europe and around the world.