Direct Speech

International Internet Magazine. Baltic States news & analytics Thursday, 18.10.2018, 22:03

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Why inflation rate of close to 3% is healthy for Latvia at this stage

Why inflation rate of close to 3% is healthy for Latvia at this stage

17.10.2018

In September, annual inflation exceeded 3% for the first time in 13 months. For the second consecutive year, the consumer price rise in Latvia was slightly faster than in the euro area on average. This article will look at the underlying factors of the above and why an inflation rate close to 3% is a sign of a healthy economy at this stage.

Keyword tags: Analytics, Banks, Direct Speech, Economics, Financial Services, Inflation, Latvia



Vitas Vasiliauskas: Preparations necessary amid strengthening global risks

Vitas Vasiliauskas: Preparations necessary amid strengthening global risks

11.10.2018

Global growth continues on a strong footing, yet elevated risks, notably in international trade, are starting to exert downward pressure on the main engines of economic activity – near-term momentum in the US, China and the euro area will be weaker than previously expected. Attending the Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group held in Nusa Dua, Indonesia, this week, Vitas Vasiliauskas, Chairman of the Board of the Bank of Lithuania, will discuss rising downside risks and the need to gear up in order to withstand them.

Cards issued in Latvia rarely used in fraudulent transactions

Cards issued in Latvia rarely used in fraudulent transactions

08.10.2018

In 2016, the level of card fraud using domestically issued cards in the Baltic States was one of the lowest in Europe: an average of four fraudulent card transactions per 100 000 payments in Latvia and three transactions in Estonia and Lithuania respectively. At the same time, the euro area average was 22 fraudulent card payments out of 100 000 payments.


Two types of central bank digital currency: which one is better for monetary policy?

Two types of central bank digital currency: which one is better for monetary policy?

05.10.2018

The digital world around us is evolving rapidly. Not so long ago we used phones just for calling people, while financial services were provided at banks, not even at internet banks, and we couldn't imagine it could be otherwise.

Irina Mirochnik Speaking on Business Climate in Latvia

Irina Mirochnik Speaking on Business Climate in Latvia

18.09.2018

IMMER Group is one of the world's leading manufacturers of flexible packaging. One of the Group’s enterprises IMMER Digital has been operating in the Latvian town of Ventspils since February 2017. Some days ago, the IMMER Group President, Mrs. Irina Mirochnik, was awarded the Third-Class Order of Merit by the decree of the President of Ukraine. This was followed by Pentawards, the most prestigious award in the packaging design world. This time the conversation with Irina is about business climate in Latvia, about relations with the state authorities and prospects of a modern enterprise.


12.09.2018

Imports of goods have reached a historic high; exports witness the sustainability of business competitiveness

Latvia's exports of goods continue to benefit from global economic growth. Higher demand from trade partners underpinned an increase in the real volume of exports, noted experts from Bank of Latvia.

11.09.2018

V. Vasiliauskas: Clear ‘rules of the game’ needed for the booming crypto sector

Participating in the informal Ecofin meeting held on 7-8 September in Vienna, Vitas Vasiliauskas, Chairman of the Board of the Bank of Lithuania, shared Lithuania’s experience in crypto assets regulation. Discussions on the importance of regulating this sector at the EU level have been initiated by Austria, which currently holds the Presidency of the Council of the European Union.

11.09.2018

The current account surplus stood at 0.5% of GDP in the second quarter

The ministers of the Central and Eastern European countries responsible for transport sector are discussing the perspectives of expansion of transport infrastructure, implementation of joint projects, and innovations during the Economic Forum held in Krynica resort in Poland on the 05th-06th of September. The significant event for Lithuania and Poland happened – today, during the Forum, the memorandum of understanding on cooperation in order to induce autonomous driving on the highway “Via Baltica” was signed.

10.09.2018

Prices continue favoring export of energy products – economist

Estonia's exports of energy products, which saw very robust growth in July, continue to get support from prices and demand, Tonu Palm, chief economist at Luminor, said commenting on foreign trade data for July, cities LETA/BNS.

06.09.2018

Latvian economy is riding a cyclical growth wave

In the second quarter of 2018, the Latvian economy continued on a cyclical growth path, although, as expected, slightly lagging behind the pace posted in the first quarter.

06.09.2018

The current account in Estonia was back in balance over the half year

Economic activity increased in the second quarter of 2018, and as a result the growth in goods exports recovered. The surplus in net exports of services meant that the external balance of the economy improved and the current account was in balance for the first half of the year.

31.08.2018

The average wage is rising, but it varies notably across Latvian regions

Photo by: Shutterstock Although the average gross wage has exceeded the long-awaited limit of 1 000 euro in Latvia, regions witness significant wage differences. The average monthly wage in Latgale does not even reach two thirds of that paid in Riga.

28.08.2018

Slower growth in wages may prove temporary

Wage growth was slowed by the effect of the tax reform, which changed how holiday pay is paid out and raised the average net wage. Upwards pressure on wages remains high. Wage inequality and poverty wages have declined in Estonia in recent years

27.08.2018

Interaction between FDI and exports

2017 and 2018 have been very favourable for Latvia's exports of goods and services so far. Income from exports of goods posted a steep rise, whereas exporters of services have demonstrated robust income growth for several years already, accounting for approximately one third of Latvia's total export value.

23.08.2018

Two worlds to meet in PropTech Riga 2018 forum: real estate and technology to find effective solutions for development

On 27 and 28 September in Riga, and for the first time in Latvia is to take place an international conference, devoted to technology in the real estate industry – PropTech Riga. The conference will include a challenge – a competition amongst real estate field related start-ups. The conference is organized by the Latvian Real Estate Association LANĪDA with a support of the General Sponsor - Bill.me.

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