Silutes Baldai (Silute Furniture), a Lithuanian furniture manufacturer that supplies more than 90% of its output to Ikea's stores in 20 countries worldwide, last year increased its sales revenue by 5% on the back of success of new products and a rise in output and exports and targets an 11-% revenue growth in 2016, the Verslo Zinios business daily reports on March 14h.

Deutsche Post DHL has unveiled plans to offer 6,500 parcel shops in the Nordic and Baltic countries by the end of 2016, posing competition to the state postal company Lietuvos Pastas (Lithuanian Post), which owns over 70 LP Express24 self-service parcel terminals.

Norway's government pension fund, which is often referred to as the Norwegian oil fund and is one of the biggest global institutional investors, last year doubled its investment in Lithuania's government securities but reduced its shareholding in Lithuanian-owned aircraft leasing, management and trading company AviaAM Leasing, Norges Bank Investment Management (NBIM), the manager of the fund, said on its website.

Statistics Lithuania informs that in February 2016, against January, prices for the total industrial production sold decreased by 1.5%, refined petroleum products excluded – by 1.4%. Over the year, prices for the total industrial production sold decreased by 9%, refined petroleum products excluded – 2.5%.

Germany's discount supermarket chain Lidl plans to open its first stores in Lithuania in the first half of the year 2016.

Lithuania's industrial sewing and assembly company Be-Ge Baltic expects the construction of its new factory on the Klaipeda free economic area to be completed in May 2016 and plans to move to the new facility in July.

The president of the Lithuanian Banks' Association says that Scandinavian-owned banks are no longer willing to invest in Lithuania due to low return-on-equity levels and warns that with banks cutting down on administrative expenses, the quality of their services declines.

Lithuania's liquefied natural gas (LNG) and oil product terminals operator Klaipedos Nafta (Klaipeda Oil) said on March 7th that its total revenue for January though February 2016 rose by 10.8% year-on-year to reach 20.05 million euros.

Lithuanian-owned charter carrier Small Planet Airlines is set to expand its aircraft fleet and plans to hire another 80 pilots by the summer, mostly for work in Poland, Germany, Britain and France.

Promwad, an innovative technology developer and a pioneer of the Internet of Things in the CEE region, has announced that it is opening an office in the Lithuanian capital, Vilnius. The Belarussian independent electronics design house, which also manufacturers electronic devices and develops software for the likes of Fujitsu, Marvell and Texas Instruments, plans to use its Vilnius office to provide services to its clients in the EU.