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Estonia's overdue loans in June rose to 7.1% of total lending

26.07.2010, 09:44

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Estonian banks’ overdue loans rose to 7.1 percent of total lending in June, the central bank said.

In the meantime, Estonia's bank industry reported a net profit of 212 million kroons in the second quarter.

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Estonia is getting richer by the minute....

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Jean-Claude Trichet::Photo: :

Trichet praises hard work done by Estonia

Jean-Claude Trichet , president of the European Central Bank, said yesterday in Frankfurt that preparations for Estonia's accession into the eurozone were on track, writes Äripäev.COMMENTS (4)

::Photo: : Arhitektuuribüroo Pluss

Estonians to design Marriott Hotel in Riga

Two Estonian architects Indrek Allmann and Joel Kopli have won an international architectural contest for designing Mariott Hotel Riga.COMMENTS (10)

Estonia, Latvia poor
in youth unemployment

Estonia has EU's third-highest unemployment among people younger than 25 years of age with 37.5% unemployed. Latvia was second-worst with 39% based on the second quarter.COMMENTS (12)

New owner: Kalvi will remain open

Yevgeni Bolshakov of Belitex Invest that now owns Kalvi Manor House said that claims that Kalvi will be closed for the public were untrue.

Tarmo Kriis (left), Enn Veskimägi::Photo: : ÄP

Employers draw
criticism

A list of proposals to the state that the Estonian Employers' Confederation unveiled yesterday have already drawn criticism from most parliamentary parties and trade unions, writes aripaev.ee.COMMENTS (7)

Estonian ports handled record volume of cargo

Estonian ports handled 3.9 million tons of cargo in July that is 13% more than a year earlier. This has come as a surprise also for many in the logistics business.COMMENTS (3)

Estonian wages up 1.2% a year

Estonian average monthly gross wages rose an annual 1.2 percent in the second quarter to 12,869 kroons (822 euros), Statistics Estonia said today.COMMENTS (11)

Latvia's retail trade
down 2% in July

Total retail trade turnover in July decreased 2% from a year ago by working (trade) day adjusted data at constant prices, according to the data of Central Statistical Bureau.

Aivar Rehe::Photo: : ÄP

Estonia under pressure to curb unemployment

International business community expects Estonia to quickly bring its unemployment down to below 10%, says Aivar Rehe, CEO of Sampo Pank in Estonia.COMMENTS (8)

Lithuanian bank to sponsor Renault F1 team

Renault F1 team has signed a sponsorship contract with the Lithuanian Snoras Bank. COMMENTS (6)

Authorities: huge differences in taxi tariffs in Tallinn

A price survey conducted in August by consumer protection authorities found major variations in taxi tariffs in Tallinn.COMMENTS (16)

IMF: Baltic states have turned corner on crisis

Economic crisis in the Baltic states has begun to ease, IMF said.COMMENTS (8)

Aircraft incident
a human error

The accident in Tallinn Airport yesterday where the gear of a cargo aircraft operated by Polish carrier Exin collapsed during the takeoff, sending the plane to its belly skidding more than a kilometre, may have been human error, according to a source in Exin.COMMENTS (2)

FinMin upbeat
in new outlook

The Estonian economy will grow 2% this year, according to the latest forecast released by the ministry of finance today.COMMENTS (14)

Latvia second in EU by industrial order growth

Seasonally adjusted industrial new orders increased 61.2% in Latvia in June year on year, 2nd biggest increase in the EU. Estonia posted 49.2% and Lithuania 19.1% growth.

Polish carrier
has second accident in Estonia

Tallinn Airport was closed for flights between 8 pm and 11 pm on Wednesday, August 25 after the landing gear of a cargo aircraft broke during takeoff and fell to its belly. There was a crew of four persons in the plane, none of them was hurt during the accident, reported aripaev.eeCOMMENTS (5)

Hanschmidt: nothing wrong with business ethics in Estonia

Ain Hanschmidt says that Estonian businessmen have good business ethics. COMMENTS (19)

Lipstok wants sanctions

There must be stricter fiscal rules in the euro region and sanctions for failing to implement them to prevent future crises, says Estonia’s central bank governor Andres Lipstok.COMMENTS (20)

Imports surge in June

Estonian exports grew 7% in June year on year, but imports were up 22% at current prices compared to June 2009, Statistics Estonia announced today. The trade deficit was 1.8 billion kroons.COMMENTS (7)

Developer: it's like pre-boom times again

Mart Saa, board member of Estonia's largest real estate developer Arco Vara, says that the demand for housing has reached pre-boom times four years ago. COMMENTS (15)

Baltics way behind Finland in quality of life

In a Newsweek ranking of living conditions, Estonia was 32nd, Lithuania was 34th and Latvia was 36th. Finland was on top.COMMENTS (81)

Report: Tallinn cheapest among Baltic capitals for families

Tallinn has emerged as the cheapest place for a family among the three Baltic capitals, according a the Diena daily that compared the cost of living in Tallinn, Riga and Vilnius. According to the survey, family life in Tallinn is slightly cheaper than in Riga, while Vilnius is slightly more expensive, wrote The Baltic Course with reference to LETA.

Estonia ranked 2nd by shadow economy

Estonia has one of the largest shadow economies, according to a survey by economist Friedrich Schneider from Austria's University of Linz that covered 37 countries. COMMENTS (23)

Estonian second-quarter GDP up
3.5% year on year

In the second quarter the Estonian economy resumed annual growth after two and half years. According to the flash estimate of Statistics Estonia, GDP rose 3.5 percent from the second quarter of 2009, compared with a contraction of 2 percent in the first three months of this year. COMMENTS (16)

FT: Estonia’s recovery defies economists

Estonia that in July formally received confirmation from the EU that it will be admitted to the eurozone at the beginning of next year is stubbornly failing to comply with the predictions of currency crises, is already seeing a resumption of growth and a fall in its real cost of capital, John Dizard writes in today's FT.com. COMMENTS (128)

Big Mac index:
Baltic currencies
25-30% undervalued

According to a new Big Mac index published by The Economist this week, the Estonian kroon is 30% undervalued against the US dollar. A year earlier the kroon was 20% undervalued.COMMENTS (19)

Estonia may grow 3.6% in average in next decade

Estonian economy may grow 3.6% on average next year through 2020 thanks to a favorable business environment, the Economist Intelligence Unit said.COMMENTS (26)

Latest news

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12:00Riga hosts a meeting of European People's Party (1)

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Latest comments

Trichet: Estonia's eurozone preparations are on track

Smells like shit, looks like shit, and speak like shit. "Mr Trichet, 60, was [...]

Estonian architects to design Marriott Hotel in Riga

Ugliness is everywhere. They even make it into an art form.

Trichet: Estonia's eurozone preparations are on track

I wonder if Trichet knows just how much money Estonia has cost the EU in the [...]

Trichet: Estonia's eurozone preparations are on track

UH-OH! I have just compared this report with another newspaper report today in [...]

Ministry: registered unemployment has been falling for 5 months

So at this rate in 65 weeks (or 15 months) there will be no "registered" [...]

Estonian architects to design Marriott Hotel in Riga

i dont doubt that estonia has some good designers. the problem is if you look [...]

Survey shows wages highest in Estonia, lowest in Lithuania

I wonder how relative purchasing power, cost of living and net income (after tax)[...]

Latvia’s current-account surplus at 6% of GDP in 2nd quarter

mojo 00N MIS. XL-VANTAA VUODELT 92 ELI TIEDÄN MILT TEIST TUNTUU, ALOTTELEVII [...]

Lithuanian government plans exchange for gas market players

oon sekä rekkis että femme samaan aikaan mul on siilitukka ja tukias-peruukki ja [...]

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The forecast is probably close enough to what actual growth will be in 2011 and [...]

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