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Minister: it is not impossible for banks to reduce number of risky clients to 5%

It is not impossible for Latvian banks to reduce the number of risky clients to 5%, says Finance Minister Dana Reizniece-Ozola.
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Latvia experiences one of the most rapid export rises among EU member states in January

In January 2017, Latvia experienced one of the most rapid export increases among EU member states when compared to the same month of the previous year, according to data published by Eurostat on Monday, 19 March.
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Number of vacant jobs in Latvia grew 17.9% in 2017

In 2017, there were 17.0 thousand job vacancies in Latvia, which was 2.6 thousand vacancies or 17.9 % more than in 2016. In public sector there were 6.1 thousand job vacancies van in private sector 10.9 thousand vacancies.
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Latvian cosmetics producers exports goods worth approximately 20 million euros

Cosmetics producers in Latvia export products worth EUR 20 million every year. Volumes increase 5% every year. The main export partner states are located in Europe. Still, there has been a significant increase of export volumes to third countries – to some countries this increase was as large as 60% -70%, according to data from Latvian Cosmetic Manufacturers Association.
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“Baltic International Bank” is strengthening its management team

Ilona Gulchak, who has previously served as the Chairperson of the Management Board of “Baltic International Bank” has filled the role of a member of the Supervisory Board. From now, the Deputy Chairperson of the Management Board takes the lead of Bank.
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Hourly labour costs in Latvia grew 7.3% in 2017

Compared to Q4 2016, in Q4 2017 hourly labour costs rose by 54 cents or 7.3 %, reaching EUR 8.02. Seasonally adjusted data show identical changes – rise of 7.3 %.
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Rietumu Banka claims it has not worked with high-risk clients for years

Rietumu Banka has been steadily rejecting high-risk clients for years and has significantly reduced the volume of transactions, as mentioned by the bank’s representatives.
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Lithuanian and Estonian businessmen are ahead of Latvia in terms of investments

In Latvia, 36% of small and medium-sized companies have plans to invest in the development of their business this year. In Estonia and Lithuania, on the other hand, the proportion of businesses with development plans is 42% and 46%, respectively, according to results of a recent study performed by SEB Bank.
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Baltic railway companies agree on creation of a unified container train route

On Monday, 12 March, a meeting was held among the heads of Latvia’s, Lithuania’s and Estonia’s railway companies for the first time. Officials discussed the organization of an inter-modal Amber Trail container train route, as reported by Latvijas dzelzceļš.
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Bank: Latvia’s exports on the rise in a time when the world is worried about trade wars

«Although the export year commenced with a high jump, it is not possible to hold such a high bar throughout the entire year. Growing external demand will help, considering stable economic growth in our partner countries,» predicts Swedbank economist Agnese Buceniece.
Photo
Celebrations the 25th anniversary of the fall of the Berlin Wall
Entertaiment & Arts

20 000 Euro Prize Money Paid out to Artists

On 6 July, awards ceremony and opening of the juried exhibition “Martinsons Award” marked the end of the 2nd Latvia International Ceramics Biennale. The biennale was part of the Latvian centenary programme and was organised with a view to developing contemporary ceramics as a discipline, promoting cooperation among the Baltic states and commemorating the artistic legacy of Pēteris Martinsons, who is widely considered the father of Latvian contemporary ceramics.