Poland-based company PKN Orlen is not going to close down its concern ORLEN Lietuva, says Lithuania's Prime Minister Algirdas Butkevicius.

During the General Meeting of Shareholders of Lietuvos Dujos held on 22 July, 2014 a decision was made to pay LTL 53.3 million (EUR 15.4 million) as dividends, or 18.3 Lithuanian cents per share, said the company in a statement.

Increasingly more people choose to shop online - Swedbank statistics indicate that during the first five months of 2014, the amount of online purchases by Swedbank clients increased by 25 percent as compared to the respective period of 2013.

A new chief executive officer is now in charge of the airline Air Lituanica. Gytis Gumuliauskas replaces Erikas Zubrus in this position.

Member States must step up their work to prevent, detect and report fraud affecting EU funds, according to the Commission's annual report on the protection of financial interests (PIF report). The report sets out detailed recommendations on areas that national authorities should particularly focus on in this respect. The report finds that detected fraud in EU spending accounts for less than 0.2% of all funds. Nevertheless, the Commission believes that greater efforts at national level both on combatting and detecting fraud should be deployed. The annual PIF report therefore recommends, amongst other things, that Member States review their controls to ensure they are risk-based and well-targeted.

On 16 July 2014, the Board of TEO LT, AB approved unaudited TEO LT, AB Consolidated Interim Financial Statements, prepared according to International Financial Reporting Standards as adopted by the European Union, and Consolidated Interim Report for the six months period ended 30 June 2014, the company announced in a statement.

In May 2014, the build-up of the the current account balance (CAB) in surplus (LTL 428.8 million or EUR 124.2 million) was driven by increases in the balances of secondary income and services in surplus.

SEB pension fund asset management companies in Latvia, Lithuania and Estonia have teamed up with the leading private equity firm in Baltics BaltCap to invest EUR 16.26 million of pension fund assets in developing Baltic companies through BaltCap Private Equity Fund II (BPEF II).

President Dalia Grybauskaitė met with the Speaker of the Upper House of the National Diet of Japan, Masaaki Yamazaki, to discuss bilateral relations and cooperation in the fields of science and innovation. The President thanked Japan for supporting Lithuania's membership in the Organisation for Economic Co-operation and Development (OECD).

According to the data presented by insurance companies, most Lithuanians work as salespersons, while air traffic controllers earn the highest salaries.