Direct Speech

International Internet Magazine. Baltic States news & analytics Saturday, 04.07.2020, 09:46

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Retail trade vigorously bounces back from COVID-19 shock in May

Retail trade vigorously bounces back from COVID-19 shock in May

03.07.2020

Gradual lifting of COVID-19 related restrictions and more clarity with respect to rules of the game in the near term has allowed the retail trade to return to almost its normal course of operation.

Keyword tags: Analytics, Banks, Direct Speech, Latvia, Retail



Businesses remain cautious about making investment decisions

Businesses remain cautious about making investment decisions

27.06.2020

The coronavirus pandemic has inflated the economic crisis in Estonia and in the global economy in recent months and is dragging on the future outlook for businesses. Economic uncertainty has caused many long-term investments to be put on hold until more certain times. This is seen in the reduced need of companies to borrow to fund investment. In consequence the total volume of long-term loans and leases issued to companies in the month was even lower in May than in April at 134 million euros, which was some 40% less than before the crisis, meaning the average from April 2019 to March 2020. The volume of short-term loans issued was also a quarter smaller than usual. The continuing pessimism at companies is shown by the notable drop in car leases, which showed no sign of rebounding in May.

President: post-crisis Lithuania will have to live within its means

President: post-crisis Lithuania will have to live within its means

18.06.2020

A post-crisis Lithuania will have to live within its means, President Gitanas Nauseda said, having initiated or supported additional payouts to pensioners and children and increasing income of working people, informs LETA/BNS.


Professor: 1% Latvians could have already formed immunity towards Covid-19

Professor: 1% Latvians could have already formed immunity towards Covid-19

16.06.2020

Comparing the morbidity rates in Norway, Sweden and Latvia, it could be assumed that about 1 percent of the population in Latvia has formed immunity towards Covid-19, Professor Girts Brigis, head of the Department of Public Health and Epidemiology at Riga Stradins University, told LETA.

Bank of  Latvia: Early repercussions of the state of emergency in the first quarter's balance of payment

Bank of Latvia: Early repercussions of the state of emergency in the first quarter's balance of payment

12.06.2020

The state of emergency restrictions and a broad-based deceleration of economic activity were also partly reflected in the balance of payments developments in the first quarter of 2020.


05.06.2020

Bank of Estonia: The effect of the crisis is that labour shortages will be replaced by shortages of jobs

At the end of the first quarter of this year the coronavirus crisis hit the global economy, including Estonia, and had a major impact on the labour market. Demand for labour fell at companies that were hit most by the crisis, as economic activity was hindered by restrictions introduced in Estonia and in other countries. Fear of infection by the virus also affected people’s behaviour. This meant the ability of companies to produce goods and services suffered a blow, while demand for those goods and services fell at the same time.

03.06.2020

Bank of Estonia: Future development in the economy will depend mainly on foreign markets

Data from Statistics Estonia show that Estonian GDP was 0.7% smaller in the first quarter than in the same quarter of last year, and seasonally adjusted was 3.7% less than in the fourth quarter of last year. The economic position in the first quarter only partly reflects the impact of the coronavirus and is more a consequence of earlier events.

03.06.2020

Latvian professor: resumption of migration is a responsible and difficult moment for epidemiologists

The resumption of international migration and the abolition of the self-quarantine requirements for residents of countries with low Covid-19 incidence will be a responsible and difficult moment for epidemiologists, Professor Girts Brigis, head of the Department of Public Health and Epidemiology at Riga Stradins University, told LETA.

01.06.2020

Latvia: The negative impact of COVID-19 can already be seen in the labour market

The measures taken to contain the spread of the coronavirus, contributed to a decline in the economic activity in the first quarter of 2020, thus negatively affecting the labour market.

26.05.2020

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.

26.05.2020

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.

19.05.2020

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

08.05.2020

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.

07.05.2020

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.

06.05.2020

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.

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