International Internet Magazine. Baltic States news & analytics
Sunday, 08.12.2019, 16:22
The Artterritory.com portal specialising in cultural topics has published an article on trends in the Latvian art market, in which owners of leading galleries, auction houses, art historians, and owners of art collections comment on the situation.
Keyword tags: Banks, Culture, Direct Speech, Financial Services, Latvia
In the third quarter of 2019, the average monthly gross wage of employees in Latvia increased by 8.3% year-on-year. The pace of remuneration growth remains high and, in the long run, could affect the competitiveness of Latvia's goods and services.
Changes in the Latvian banking industry, the increased attention to it from international organisations, and the challenges of the time required Latvian banks to seriously restructure development models and search for the new ones. In a short time, these tasks were successfully completed by the small mobile banks with local capital that managed to find their niche in the financial market and prove to be necessary for the Latvian economy.
The flash estimate for Latvia's economic growth in the third quarter shows that after the unfavourable developments at the beginning of the year growth has recovered and stabilised; however, it was primarily driven by short-term factors such as a renewed rise in energy production from a low level and a good grain harvest.
Report of the Session “The Investment Environment of Business Development: The Key Issues Faced by Foreign Investors” at the III International Economic Forum, Riga, Latvia, 1 November, 2019.
According to SEB Bank’s chief economist Daniel Bergvall, one of the main presenters of the Nordic Real Estate Forum taking place in Tallinn at the end of November, this autumn the picture of a globally synchronised deceleration in economic growth has been clear and concerning – but not entirely without glimmers of hope. Record-high political uncertainty has been offset by new monetary easing.
Report of 3rd International Economic Forum. Our conference reminds me of a fisherman gathering on the ocean shore, discussing how to raise fishing efficiency keeping in mind that tsunami (global crisis) is imminent. Does this mean that it is no longer necessary to talk about improving economic environment in Latvia? I think that we nevertheless must do it.