International Internet Magazine. Baltic States news & analytics
Saturday, 30.04.2016, 02:37
Parliamentary Secretary, Ministry Edgar Putra thinks that the bank or the financial services industry Latvian should evolve in quality, rather than quantity direction, so that Latvia, like Switzerland, after some time be able to say that our banks work as precisely as a Swiss clock. Politician points to the important role of banks in economic growth, while developping loans.
Keyword tags: Analytics, Banks, Direct Speech, Economics, EU – Baltic States, Financial Services, Latvia
Calendar adjusted data (at constant prices) compiled by the Data of Central Statistical Bureau (CSB) show that, compared to March 2015, in March 2016 total retail trade turnover rose by 0.3%. Retail trade in food products grew by 1.0%, whereas retail trade in non-food products – by 0.2%.
Flash estimate of the Central Statistical Bureau (CSB) shows that, compared to the 4th quarter of 2015, in the 1st quarter of 2016, Gross Domestic Product (GDP) value dropped slightly – by 0.1%, according to seasonally adjusted data.
The assets of pension plans under the government-funded or second-pillar pension scheme in Latvia grew by EUR 73 million in the first quarter of 2016 to EUR 2.4 billion at the end of March, the Finance and Capital Market Commission (FCMC) said, cites LETA.
Latvia's distressed asset manager Reverta last year recovered EUR 61.3 million from the restructuring and sale of distressed assets. Reverta's loss amounted to EUR 45.5 million compared to EUR 57.5 million in loss in 2014, according to the comapny's audited financial report, cites LETA.
Latvia’s Rigas Elektromasinbuves Rupnica (Riga Electric Machine Building Works, RER) electric equipment maker last year sustained loss worth EUR 235,432 in contrast to a profit of EUR 42,116 in 2014, according to the company's audited financial report submitted to the Nasdaq Riga stock exchange, cites LETA.
Latvia's Rujienas Saldejums ice-cream maker in 2015 generated EUR 916,489 in sales, which is by 35% less from a year ago, reports LETA, according to Firmas.lv business database.