The fall is less an effect of the pandemic than the weakness of Estonia’s energy and manufacturing sectors.
Retail sales crashed 17.9% y/y in April, a fall that was expected after the government instituted a lockdown to contain the spread of the coronavirus.
Tracings apps are intended to allow identification and fast isolating of people suspected of carrying the virus and testing of those who might have been in contact with them.
The capital injection comes in spite of Bolt suffering a severe decline in demand under lockdown. CEO Markus Villig says the long-term drivers of on-demand mobility continue to grow.
Central Europeans in need of a culture fix after weeks of lockdown can now watch films at a growing number of drive-ins and outdoor cinemas opened in car parks, airport aprons and other open spaces as restrictions are eased.
Estonia's producer price index retreated 4.4% y/y in April, after falling 3.5% y/y in March.
The law was passed as the tech-savvy Estonia is gearing up to roll out 5G services, offering unprecedented speed of data transfer but also potentially opening up new possibilities for cyber attacks or espionage.
Plunge in producer prices driven by crashing oil prices, an effect of the global oil market depression caused by the pandemic.
A worldwide lockdown has created havoc for retailers as their customers are forced to stay at home. There has been a little respite as sales in March surged due to panic buying but that has given way to a lockdown that keeps stores closed
The slowdown came mainly on the back of prices falling in the housing and transport sectors, an effect of the falling oil prices because of the coronavirus pandemic that depressed the global oil market.
Earlier this year, Revolut said it would shift the management of its payment operations from the UK capital to Ireland and Lithuania because of Brexit.
The contraction is the direct effect of the lockdown measures imposed by the Latvian government – and those elsewhere in Europe, which had an effect on Latvia’s foreign trade dynamics – in March in order to tackle the coronavirus pandemic.