Direct Speech

International Internet Magazine. Baltic States news & analytics Wednesday, 27.05.2020, 04:54

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Swedbank Nordic Baltic Business Report: Well prepared to take on the challenge

Swedbank Nordic Baltic Business Report: Well prepared to take on the challenge


The Nordic and Baltic economies will be hard hit by the Covid-19-induced shock due to their small size and relative openness. Strong economic fundamentals and a timely reaction to the health crisis ensure that the countries are in an advantageous position to take on the challenge. The crisis gives a chance to push for bolder and greener policies, as well as advance reforms aimed at streamlining the growing public sector and further tailoring the economy and human capital to the digital post-corona world.

Keyword tags: Analytics, Baltic, Banks, Covid-19, Crisis, Direct Speech, Economics, EU – Baltic States, Financial Services, Markets and Companies

The changing map of nearshoring: what is the equation for a successful operation post Covid-19?

The changing map of nearshoring: what is the equation for a successful operation post Covid-19?


Could the crisis result in new nearshoring opportunities for Lithuania? As global businesses rethink the way they manage critical business processes, increasing priority is being given to locations that offer flexibility, resilience and robust ICT infrastructure. Laisvis Makulis, Vice-President at Invest Lithuania, examines the factors that make Lithuania an increasingly attractive choice in the post-crisis GBS landscape. Read it below.

Estonia: The crisis hit the service sector when it was at a peak

Estonia: The crisis hit the service sector when it was at a peak


Employment was 1.3% higher in the first quarter of 2020 than a year earlier, and active participation in the labour market was increasing. The growth in employment last year and in

airBaltic still has goal to expand its fleet to 80 Airbus aircraft by 2025

airBaltic still has goal to expand its fleet to 80 Airbus aircraft by 2025


Today, the press service of the company air Baltic distributed a letter from the president of the company. Below we provide the full text of the letter.

Manufacturing and Covid-19 at the chess-board

Manufacturing and Covid-19 at the chess-board


There is an anecdote that says: "When I have all the cards in my hands, life suddenly decides to play chess." That is currently true of manufacturing, which has been fighting fiercely against weakening external and domestic demand already since the last year, adjusting to the situation with changing and varying degrees of success, finding new export markets, investing in more efficient production, etc. Then, all of a sudden, everything was turned upside down by Covid-19.


Eesti Pank: The buffers built up previously will help the banks to cope with larger loan losses

The latest financial stability review from Eesti Pank finds that the banks have sufficient capital buffers even if restrictions remain in place for long time. The central bank estimates that if the restrictions last until August, the share of problem loans will rise to 13% of the loan portfolio of the banks.


Creativity as the engine of economy in crisis times

Recently, Cannes Lions, Clio and D&AD announced their 2020 festival editions cancellation due to the current unstable situation on market caused by COVID-19 pandemic. Nevertheless, the organizers of one of the largest creative festivals in Eastern Europe – International Advertising Festival White Square – intend to hold the festival this year but change the dates from traditional April to June 24-26. We talked about the situation on creative communications market and the reasons behind the festival movement in 2020 with Alena Ustinovich, Chairman of Board of Association of Communications and Marketing Agencies of Belarus.


Business-to-business customers expect personal service in online chat

For a long time, companies have used cost-effective chat services in their business-to-customer (B2C) sales. Companies engaged in business-to-business (B2B) sales are also increasingly moving their activities online, but their online chat services and customer interaction have not been studied much yet. A new study from the University of Eastern Finland shows that the nature of social presence in B2B online chat dialogues varied depending on the stage of the customer relationship.


Monetary aggregates are on sick leave

Both the received deposits and granted loans showed signs of decrease in the first two months of the year. With slower economic growth reducing the profitability of businesses, domestic deposits declined seasonally in January, and their minor rise in February did not allow for a return to the level of December.


Lending for business: challenges and opportunities

The preliminary results of 2019 clearly indicate that the loan portfolio of Latvian banks has stabilized. Moreover, judging by the statements of industry participants, the credit function is considered by many as a priority.


Latvia: The labour market also cools as a result of slower growth

Latvia's labour market indicators for 2019 reflect both slower economic growth and contractions in the number of working age population.


Kersti Kaljulaid: Estonia needs to save more than before for sense of security

Although Estonia has been doing well, for our own sense of security, we actually need to save more, President Kersti Kaljulaid said in her speech on the occasion of the 102nd anniversary of the Republic of Estonia in Viljandi on Monday evening.


Latvia: "First shift" of manufacturing subsectors getting tired

In the circumstances of weakening external and domestic demand, manufacturers continue with their attempts at conquering export markets and the hearts of local consumers.


US ambassador to Lithuania: We see opportunities for thaw in relations with Belarus

Washington sees some potential for "a slight thaw" in relations with Belarus, the United States' new Ambassador to Lithuania Robert Gilchrist says.


Open letter to politicians and society of the Kingdom of Denmark in relation to the case of Kristīne Misāne

I always believed Nordic countries to be a role model for what Latvia should strive to become – strong, independent, able and willing to protect itself and every single one of its citizens. Unfortunately, the case of Kristīne Misāne has proved quite the opposite and has broken this illusion to reveal the not-so-pretty reality.

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