Financial Services

International Internet Magazine. Baltic States news & analytics Thursday, 02.04.2020, 00:00

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Economic recovery will depend on how many businesses and jobs are preserved - Dombrovskis

Economic recovery will depend on how many businesses and jobs are preserved - Dombrovskis

01.04.2020

After the Covid-19 pandemic, economic recovery in Europe and Latvia will depend on how many businesses and jobs are preserved during the crisis, the European Commission's Vice President Valdis Dombrovskis said in an interview with LETA.

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



Lithuania's c.bank proposes fund to support big companies, ensure settlements

Lithuania's c.bank proposes fund to support big companies, ensure settlements

01.04.2020

– The central Bank of Lithuania has suggested establishing a special fund to provide swift temporary financial assistance to big and socially important companies facing difficulties due to the coronavirus crisis and failing to receive bank loans, informed LETA/BNS.

Monetary aggregates are on sick leave

Monetary aggregates are on sick leave

31.03.2020

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.


Estonian central bank recommends focusing on immediate mitigation of crisis impact

Estonian central bank recommends focusing on immediate mitigation of crisis impact

31.03.2020

Bank of Estonia governor Madis Muller, who on Tuesday attended a sitting of the finance committee of the Riigikogu, said that it is currently important to focus on supporting the economy with steps that will directly support people and businesses in coping with the coronavirus crisis.

Buyout prices for Lithuania’s ESO, Ignitis Gamyba set

Buyout prices for Lithuania’s ESO, Ignitis Gamyba set

31.03.2020

Lithuania's state-owned energy group Ignitis Grupe will offer to buy the remaining shares in Energijos Skirstymo Operatorius and Ignitis Gamyba at 0.88 euros and 0.64 euros per share, respectively, informed LETA/BNS.


27.03.2020

Commission’s approval for Latvian loan and subsidies for SMEs

In mitigating negative effects to the member states economy, the governments are facing numerous challenges: disruption of supply chains, lower consumer demand, production deficiencies, as well as decrease in investment and liquidity constraints for undertakings. The Commission has approved Latvian loan guarantee scheme and subsidize for companies affected by coronavirus outbreak.

27.03.2020

Latvia: Contributions to private pension funds grow 11.3% y-o-y in 2019

A total of EUR 85.68 mln were paid into Latvia's private pension funds in 2019, which is a 11.3% increase against 2018, according to the data of the Financial and Capital Market Commission writes LETA.

26.03.2020

Lithuanian energy companies continue strategic projects, manage risks

There are no disruptions in Lithuania's energy sector after the country was placed under quarantine due to the new coronavirus, and energy projects are being smoothly implemented, the energy minister and executives of the power and gas transmission operators say, reported LETA/BNS.

26.03.2020

Bank of Latvia expects Latvia's GDP to drop 6.5% this year

The Bank of Latvia expects Latvia's gross domestic product to drop 6.5% this year, while average annual inflation is estimated at 0.5%, the central bank told LETA.

25.03.2020

Estonia: 75% of terminals updated to accept new EUR 50 contactless payment limit

Estonian banks on Monday raised the limit on contactless payments to 50 euros in an effort to minimize contact so as to curb the spread of the novel coronavirus, and so far, 75% of terminals have been updated in the central systems, informed LETA/BNS.

24.03.2020

Covid - 19 Latvia: Around 73,000 employees to receive downtime pay initially

Initially, downtime pay during the period of the Covid-19 crisis will be provided to around 73,000 employees in transport and logistics, hospitality, tourism and creative industries, according to regulations worked out by the Economics Ministry and adopted by the government on Tuesday, reported LETA.

24.03.2020

Covid-19: Estonian Health Insurance Fund to cover virus-related expenses for uninsured people

Estonian Health Insurance Fund will cover urgent coronavirus treatment and testing upon a family doctor's referral for people who do not have health insurance, the "Aktuaalne kaamera" news program of ETV public television reported.

23.03.2020

The Kalsnava Distillery alcohol manufacturing plant adjusted its manufacturing to produce alcohol for disinfectants manufactured in Latvia

The Kalsnava Distillery alcohol manufacturing plant adjusted its manufacturing to produce alcohol for disinfectants manufactured in Latvia.

20.03.2020

Estonian state to support self-employed with payment of social tax

The state will execute advance payments of social tax on behalf of self-employed persons for the first quarter to help such individuals cope with the impact of the economic difficulties going with the crisis, reported LETA/BNS.

20.03.2020

Cultural and creative sector: exploring financial support

Cultural and creative sector, including SMEs, remains poorly exploited and at risk, European Commission acknowledges. Great and important cultural sector’s potentials in all EU states require some support: hence, modern European guarantee’s program is aimed at providing support. The Baltic cultural sphere shall be more active in acquiring these funds.

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