![]() EconomyLithuania's cosmetics and perfumery retailer Douglas LT posted 15.373 mln euros in revenue for the last financial year, up 13.6% from 13.534 mln euros in 2014. Among the three Baltic states, Lithuania and Latvia saw a decline in exports in the first half of 2016, as compared with the same period last year, Eurostat said. Exports remained stable in Estonia over the period. Litana, Lithuania's group of metal structure design and construction, is expanding its operations in Sweden and intends to launch production of stainless steel. Amid continuing effects of the global dairy crisis on the Lithuanian dairy market, milk purchasing prices saw a modest increase in July after a long break, as compared month-on-month. Lithuania's central government and local governments collected a total of 4.44 billion euros in budget revenue in January through July, exceeding the revenue target for the seven months by 181 mln euros, or 4.3%. Rising incomes, low interest rates and improving expectations encourage people to take home loans, although Lithuanians still tend to use their own money to buy properties. Litgrid has connected a 60-megawatt, 24-turbine wind farm of 4energia, a subsidiary of Estonia's Nelja Energia, to the country's power transmission grid. Lithuania's insurance market, including branches of foreign companies, totaled 330.205 mln euros in the first half of this year in terms of insurance premiums, up by 5.7% year-on-year. Lithuania imported 8,160 gigawatt-hours (GWh) of gas in the first quarter of this year, down by 5.1 % form the same period of 2015. U.S. investment company Providence Equity Partners (Providence), which is the new owner of Bite mobile operator, has also invested in Latvia's Baltcom TV and Internet services provider. |
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