On December 2 media representatives and distinguished guests observed closing operation of Exercise Iron Sword 2016, viewed a static display of vehicles and weaponry used for the exercise and talked to soldiers at the Urban Warfare Training Facility of the General Silvestras Žukauskas Training Area. The event was attended by President of the Republic of Lithuania HE Dalia Grybauskaitė, caretaker Minister of National Defence Juozas Olekas, Chief of Defence of Lithuania Lieutenant General Jonas Vytautas Žukas, commanders of other Lithuanian Armed Forces’ units, and foreign guests.

Latvia's national airline airBaltic welcomed the world's first Bombardier CS300 aircraft in Riga.

New rules to enable EU citizens subscribing to services that give access to online music, games, films or sporting events, to enjoy this content while abroad in another EU country were approved by the Legal Affairs Committee in a vote on Tuesday.

Lithuania's electricity transmission system operator Litgrid is planning to invest 671.18 million euros in the power grid in the next ten years.

The average price of electricity in Nord Pool's Lithuanian bidding area fell by 5 percent last week from a weak earlier to 37 euros per megawatt-hour and was down by one-fifth compared with a year earlier.

The bankruptcy administrator of Lithuania's collapsed bank Snoras has launched the sale of the creditor's claim with a nominal value of EUR 20.03 million on a loan to Latvia's carrier airBaltic.

Vilnius Airport is now even more colourful because till 30 December passengers at the airport will be able to enjoy an exhibition of photographs that attracted worldwide attention: “Soviet Bus Stops”. The exhibition will be available to everyone: departing and arriving passengers as well as passengers travelling through the country.

The Moscow-based chocolate factory Krasny Oktyabr (Red October) is in a dispute with Naujoji Ruta over the design of the wrapper of candies that the Lithuanian confectioner produces for the German market.

Fraud involving VAT on goods exported to other member states costs EU tax payers an estimated €50 billion a year. The European Commission has come up with an action plan to clamp down on VAT fraud and update current VAT rules that have been left unchanged since 1993. MEPs debate the action plan on Wednesday 23 November and vote on it the following day. Read on to find out more about Parliament's position and watch our video for an explanation of how VAT fraud works.

A Vilnius court has ordered a freeze on almost 20 million euros worth of funds of Vilniaus Energija (Vilnius Energy), a local district heating supplier controlled by France's Veolia, a move that the company describes as "an assault" and plans to contest.