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Employers choked up Labour Inspectorate’s information line

Employers who were interested in nuances regarding layoffs, choked up Labour Inspectorate’s information line, ERR News reports.

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1000 people protested in Narva

Today nearly 1000 people gathered in Narva, since they were unhappy that from today they can bring only two packs of cigarettes from Russia instead of previous ten, Postimees writes.

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Strategist: Baltic countries must be through an economic shock

Baltic stock market must be through a macroeconomic shock before it becomes attractive again, Peeter Koppel, strategist at SEB private banking told ERR News.

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Today changes Estonia’s business climate

Today will bring last years’ record amount of law amendments, which affect all entrepreneurs mostly painfully, Äripäev reports.

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Estonian Q1 budget gap soars, threatening euro goal

Estonia’s fiscal deficit under European Union terms more than doubled in the first quarter from a year earlier, indicating the Baltic country may not be able to adopt the euro in January 2011, Bloomberg reports.

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Estonian Air 2008 net loss more than tripled

AS Estonian Air, Estonia’s national carrier, said its losses more than tripled last year as fuel prices rose and demand slumped, Bloomberg reports.

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The Pirate Party is now in Estonia

There is MTÜ Eesti Piraadipartei (The Pirate Party) registered in the Estonian business register. It’ll likely take example from its Scandinavian sister parties and plans to introduce its further plans in the near future, ERR News reports.

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Maripuu’s gift

Äripäev discovered while investigating Anders Tsahkna’s activities that as a Minister of Social Affairs Maret Maripuu made a favourable decision for Merck, Sharp & Dohme, ignoring the advice of Committee for Medicinal Products (CMP), Äripäev reports.

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Whose projects drag?

Approving a detail plan takes sometimes 9 years in Tallinn, while others are approved in less than a year. Such a difference gives favourable ground to corruption and unfair competition, Äripäev reports.

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PM: Higher VAT doesn’t reduce consumption remarkably

Andrus Ansip, the PM, defended higher VAT at the government’s press conference today and expressed his opinion that higher VAT doesn’t decrease consumption remarkably, E24.ee reports.

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Swedbank hands over 1 housing loan a day to the bailiff

In the first five months Swedbank has handed more than 114 default housing loans to the bailiff, which is 22.8 claims a month or 1 claim per working day, Eesti Ekspress reports.

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Drivers in middling intoxication to become criminals

New Traffic Act makes a criminal of drivers who has been caught in at least 1.5 p.m. intoxication, but the police may also start a criminal matter against the driver who, at visual observation, seems to jeopardize other road users, Postimees reports.

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Economist: raise of VAT rate, excise duties will deepen recession

The upcoming increase of VAT rate and raise of excise duties on motor fuel will deepen economic recession, not ease it, says economist Viktor Trasberg.

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Controversial businessman develops multi-billion-kroon project in Estonia

The latest project of Thorben Gronkjaer Nielsen, a 45-year-old Danish businessman, in Estonia is very ambitious, writes Äripäev.

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Estonian Air to open direct route between Tallinn and St Petersburg

Starting from 27 July 2009, Estonian Air will operate between Tallinn and St Petersburg with four weekly flights on Mondays, Wednesdays, Fridays and Sundays.

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Elcoteq sells Tallinn plants to Ericsson for 30 mln euros

Finland’s Elcoteq said today it has signed an agreement with Ericsson to sell the majority of its operations in Tallinn.

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Paper: it's time to start buying products made in Estonia

Buying products made in Estonia will help the Estonian economy to recover sooner, writes Äripäev.

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New logo of Eesti Energia cost 11 million kroons

Estonian state-owned energy group Eesti Energia says it paid 11 million kroons for its new logo, writes Äripäev.

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Thousands of workers to go on a strike today

Estonian Central Union of Trade Unions is organizing a warning strike today that will mainly affect public transport services, writes Äripäev.

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Cheaper real estate may increase brokerage fees

Since real estate has gone notably cheaper in the past couple of years and therefore brokers earn less, which is why the brokerage fee’s percentage may increase in the near future, Soov writes.

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Estonia to buy gasoline and diesel for EEK 350 mln

At the time when Parliament fights for every million, Estonian Oil Stockpiling Agency (OSPA) buys gasoline and diesel for EEK 350 mln, Äripäev reports.

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Estonian industrial production fell most in EU

In April Estonian industrial production fell 33.7 pct, representing sharpest fall in the European Union, E24 reports.

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Actual Minister

The Security Police is interested in Anders Tsahkna, advisor at the Ministry of Social Affairs, who is considered to be actual Minister of Social Affairs, Äripäev reports.

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Taxi without licence - car rental with driver

In April municipal police’s taxi patrol and transportation board made several audits and discovered taxi companies, which don’t have licence and call their activity car rental with a driver, aripaev.ee reports.

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Estonia's health stronger than Latvia's

Although the rest of the world looks at Estonia and Latvia as if they had a common disease, analysts and investors bring out remarkable advantages that help Estonia to distinct and shot itself in better light than Latvia, Äripäev reports.

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Visa claims additional securities from the banks in Latvia

Visa claims SEK 0.5 bln deposit from Swedbank and SEB in Latvia to keep the bank cards functioning, aripaev.ee cites Svenska Dagbladet.

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Former Minister wants to be a CEO of a lotto company

Heiki Kranich, who has been away from politics and paid work fro 6 years, is running his candidacy to be the CEO of Eesti Loto. He came out in time when talks of Eesti Loto’s privatization are more actual, Äripäev reports.

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Estonian economy fell 15.1 pct in the Q1

The gross domestic product (GDP) of Estonia decreased by 15.1% in the 1st quarter of 2009 compared to the same quarter in the previous year, according to the first estimates of Statistics Estonia.

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Loan interests are small only deceptively

Loan’s real interests have increased to highest point of last decade, Äripäev reports.

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Latvia bought 168 mln lati last week to support currency

Latvia’s central bank bought LVL 168 mln to help stabilize the currency, the bank said on its homepage today.

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Siim Kallas' golden signature

Märt Rask, the chairperson of the State Court blames the Ministry of Finance of Siim Kallas’ time for paying baselessly high salaries for elite, Äripäev reports.

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The trouble with Latvia: what it is and why it matters

As I pointed out recently in the context of Latvia and the impending potential for a devaluation, there is a distinct risk of falling victim to the sin of crying wolf, Edward Hugh, an economist writes in Seeking Alpha.

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Latvian PM: Spending cuts will enable loan, save peg

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Bitter fruits of pension funds

Swedbank that has more than half of Estonian pension market suffered losses from discount the most from investing to group’s other funds of which some were worth fifth of their acquisition value, Äripäev reports.

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Survey: Estonian company manager is sceptical of foreign workers

A survey by Saar Poll confirmed that although Estonian company managers claim to be open about hiring foreign workers, then it does not apply to all minority groups or posts, aripaev.ee reports.

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