Consolidated Group operating profit of the Lithuania-based textile company for the first quarter of 2014 was 0.6 million litas, as in the same period in 2013 the group incurred 0.8 million litas operating loss, Utenos Trikotazas said in a statement.

The insurance undertakings registered in the country and branches of insurance undertakings of other European Union Member States established in Lithuania in the first quarter of 2014 wrote LTL 486.9 million (EUR 141.0 million) of insurance premiums, a one-tenth increase year on year.

According to the Ministry of Finance data the central government deficit in Lithuania in January-April 2014 amounted to LTL 1.379 billion (EUR 0.40 billion) and was LTL 0.166 billion (EUR 0.05 billion) or 0.2% GDP smaller than year on year.

By seeking to act in its clients best interests as well as in best interests of its managed investment funds, has approved the merger of two investment funds, where Finasta Word Equity Fund Subfund will be incorporated into Harmonized investment fund Finasta Baltic Fund, Finasta Asset Management announced in a statement.

Statistics Lithuania, based on more comprehensive business, tax and price statistics, has revised the first GDP estimate for I quarter 2014 and, additionally, estimated GDP components by production and expenditure approaches. According to the revised data, in I quarter 2014, GDP at current prices amounted to LTL 27694 million (EUR 8020.8 million).

Compared to Latvia, Lithuanian companies are more successful in investing abroad, Guntars Krols, partner of the auditing, taxation, transaction and consultation service provider EY.

Lithuanian company Litgas negotiated with Norwegian company Statoil which agreed to supply gas for the Liquefied Natural Gas Terminal for five years at lower than average global price, said Prime Minister Algirdas Butkevicius.

Statistics Lithuania informs that, based on provisional data, in April 2014, the turnover (VAT excluded) of retail trade enterprises* amounted to LTL 2451.8 million; against March, it increased by 4% at constant prices (seasonally adjusted – by 0.6%).

Lithuanian company Lietuvos Dujos has proposed to reduce natural gas price tariff for household consumers: for those who consume up to 500 cubic meters of natural gas per calendar year, it should be reduced from LTL 2.67 (EUR 0.77) to LTL 2.28 (EUR 0.66) per cubic meter.

Klaipedos Kartonas AB, a subsidiary of Grigiskes AB, has successfully completed the construction of a new biofuel boiler and began to operate it.