The consolidated sales of the company for May 2014 amounted to 32.7 million LTL (9.5 million EUR) – 16% increase comparing to May 2013, the company announced in a statement.

On 10 June, the Competition Council (KT) imposed a fine of 123,096,700 litas (approx. EUR 35,651,269) on OAO Gazprom for the failure to comply with merger conditions, the Competition Council (KT) announced in a press release.

Lithuanian Railways (Lietuvos Gelezinkeliai) says that additional petroleum refining opportunities are a way out for Orlen Lietuva from a complicated situation. To the knowledge of Lithuanian Railways a new client has made a proposal to Orlen Lietuva regarding petroleum refining.

The preliminary sales revenues of SC Klaipedos Nafta for May 2014 amounts to LTL 8.9 million (EUR 2.6 million); that is less by 23.6% less compared to May 2013 (i.e. LTL 7.2 million or EUR 2.1 million).

The euro zone could get bigger next year after the European Commission said Lithuania is ready to adopt the common currency. That is the conclusion of the convergence reports published on 4 June by the Commission and the European Central Bank, assessing eight EU countries' readiness to join the euro zone. A final decision will be made by the Council at the end of July after consulting the Parliament.

Lithuania is pursuing the goal to extend the Mongolian Vector railway project route to its territory.

Turnover of the Lithuania-based producer of refrigerators Snaige reached 33.6 million litas in the first quarter of the year 2014, according to unaudited consolidated data; which is 18% higher than the turnover of the same period last year, the company said in a statement.

The 2014 Baseline Profitability Index (BPI), presented in Foreign Policy magazine by Daniel Altman, rates Lithuania the most favourable country for investment in the Baltic States and ranks it second in Europe for expected investment returns. Estonia is ranked 18 and Latvia – 22nd.

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.