Cruise travel is currently one of the most rapidly growing tourism segments in the world, chosen for recreation by approximately 23 million passengers every year. Market trends suggest that the number of cruise passengers may increase by another third by 2030, revealing more and more new tourist routes and market niches. A significant increase in…
The story about economic growth is not in any way related to the work performed by Prime Minister Maris Kucinskis. Economic growth is based on money provided by European structural funds in previous planning period, says chairman of New Conservative Party and prime minister candidate Janis Bordans. “It is claimed that Kucinskis’ government has made…
Last year the largest profits among banks in Latvia were recorded for Swedbank and ABLV Bank. Seven banks worked with losses in Latvia last year, according to data compiled by Association of Latvian Commercial Banks. Swedbank’s profits were EUR 94.366 million, up by 1.6% YoY. This amount also accounted for 40% of the banking sector’s…
In 2017 turnover of drug wholesale traders in Latvia and abroad was EUR 846.76 million without VAT. Compared to the previous year, this means an increase of 6%, according to data compiled by State Agency of Medicines. Wholesale traders continued increasing turnover of medicines in Latvia and other countries. The volume of medicines sold in…
ABLV Bank will be liquidated in accordance with Latvia’s laws, because preservation of this credit institution is not in the interest of the country’s society, announced the European Central Bank. In the report, ECB concluded that ABLV Bank and its subsidiary ABLV Bank Luxembourg were expected to collapse in the near future. ECB has informed…
The final data on the year 2017 by the European Union statistical bureau Eurostat showed that both the economy of the EU and the euro area had expanded at the quickest pace since 2007. Economist Ryan Djajasaputra of the South-African, British banking group Investec evaluated that much of the growth in 2017 had been driven…
Freight volume handled in the Port of Liepaja in January climbed by 10% YoY, to 643,000 tons, the Port Authority says. In the reporting period transshipment of grain declined by 0.3%, to 286,900 tons, while construction materials grew by 68.3%, to 54,800 tons, but timber fell by 14.8%, to 26,200 tons, and oil products surged…