German companies operating in the Baltic states are optimistic and consider Estonia, Latvia and Lithuania attractive for business and investment, shows a new survey of the German-Baltic Chamber of Commerce in Estonia, Latvia and Lithuania (AHK Baltic States).
The Estonian government is set to endorse today 172 million euros as total dividends to be taken from state companies this year.
The general government deficit of Estonia in 2013, measuring 2 percent of GDP, was lower than in any other EU member state save for Luxembourg and Germany, which boasted a surplus of 0.1 and 0 percent of GDP.
Kazakhstan plans to start fuel oil exports from Georgia's Batumi terminal in May, diverting some 700,000 tonnes from Baltic Sea ports, mainly in Estonia, by the year-end as it seeks to cut its costs and transit risks, Äripäev reported with reference to Reuters.
Estonia continues negotiations with Latvia and Lithuania in the Rail Baltic project aimed at finding a workable solution.
The United States European Command announced yesterday that it would bolster military presence in the Baltics including Estonia by sending one airborne company to each country.
Estonian Tax Authority has spent hundreds of thousands of euros in preparing to adopt a system aimed at processing declarations of business transactions that exceed 1,000 euros.
Average labor costs in Estonia were 9 euros per person per hour in 2013, up from 8.4 euros in 2012, according to Statistics Estonia.
Estonia’s Ministry of Economic Affairs and Estonian Investment Agency (EAS) are hosting a delegation from the Ministry of Trade and Industry Singapore, led by Lee Ark Boon, Deputy Secretary for Trade, with a focus on Estonia’s ICT sector and business climate.
Estonian Minister of Foreign affairs Urmas Paet said that any statements on the cost of trade sanctions targeted against Russia are speculative because the exact degree of sanctions has not been agreed.
The government has started replacing members of supervisory boards of state enterprises which means that Neinar Seli, current chairman of the supervisory board of Port of Tallinn, may also lose his seat.
Although the demand for foreign trips during May holidays has declined by 20-30 percent, Estonia is still an attractive destination country.
Columnist Kaarel Tarand writes that a look at the Estonian candidates to the Europarliament shows that among the mainstream political parties the list is dominated by former members of the Communist Party of the Soviet Union (CPSU) and one who wanted to become CPSU member, but was not admitted.
Tallinn-Moscow flights operated by Estonian Air and Russian carrier Aeroflot will be based on bilateral code sharing effective from this week.
Polish insurer PZU, the largest insurer in Eastern Europe, will buy the insurance business of RSA, one of the world's largest insurance groups, in the Baltic countries and Poland, reported Äripäev.
Sanctions are a zero-sum game: if the states interrupt cooperation, both parties are hurt, writes Eesti Päevaleht in its editorial.
According to a study made by the European Commission, full sanctions against Russia would severely affect Estonia’s economy.
Estonian Prime Minister Taavi Rõivas said in the Parliament’s Q&A session this week that the positive news was that the number of people who wish to leave Estonia has down by a third.
Estonian Financial Supervisory Authority says that until the EU adopts sanctions on Bank of Moscow, they will not be taking actions with regard to Krediidipank that is majority-owned by Bank of Moscow, writes Eesti Päevaleht.
Estonia’s largest oil terminal Vopak E.O.S. announced that it is going to downsize its operations according to the decrease in business volumes.
Urve Palo, Estonian Minister of Economy, says that she is confident that Lithuanians will shortly accept that Vilnius cannot be included in the current route for Rail Baltic.
In one of its largest operations against organized crime, the Estonian criminal police on Monday arrested several members of the Estonian mafia, including its head Assar Paulus, writes Postimees.
Estonian national carrier Estonian Air served 110,666 passengers during the first quarter of 2014, down from 121,693 in the same period last year.
The Estonian harmonized index of consumer prices (HICP) was 144.23 points in March, 0.7 percent higher than in the same month a year ago, Statistics Estonia said.
Pavel Telicka who coordinates Rail Baltic project at the European Commission says that Lithuania’s request to add Vilnius on the route cannot be accepted.
Oleg Ossinovski, one of Estonia’s richest businessmen and owner of a large group specializing in transit trade, says that the Estonia must learn how to live next to an empire, but is not doing a good job right now.
The dependence of Baltic states on Russian natural gas needs to be drastically cut, said representatives of Estonia, Latvia and Lithuania at the energy roundtable organised by the Baltic Assembly
The programs of Estonia’s two largest parties, Reform Party and Centre Party, for the European Parliament elections speak little of how the European Union should develop in the next five years, but are focused mainly on domestic issues with a view on the next year’s general elections, writes Eesti Päevaleht.
Although NATO has decided to increase air policing capacity over the Baltic states and station four fighter jets in the Ämari air base in Estonia, the base is still undermanned, writes Eesti Päevaleht.
According to Eurostat, Estonia posted the fastest growth in 2013 in housing prices in the EU with the growth of 15.6%.
Lithuanian, Latvian and Estonian public broadcasters are considering a plan to set up a new Russian-language TV channel to offset the influence of Russian channels.
Around 178,000 tourists used the services of Estonia's accommodation establishments in February 2014 which is 11 percent more than in the same month a year ago, Statistics Estonia reports.
Several Estonian companies have recently decided to start suppliers or service providers for the Defence Forces, writes Postimees.
95.4% of taxpayers in Estonia filed their tax returns electronically, an increase of 0.4% year on year, spokespeople for the Estonian Tax and Customs Board said.
Since foreign businessmen attending trade conferences spend notably more in destination than holiday-makers, and often recommend the country to their friends and business partners, Estonia should consider re-adjusting its target to business tourism, says Anne Samlik, CEO of Estravel.
The statement made by Vahur Ausmees, head of personnel and development in Tallink Group, in which he seemed to imply that it was women’s fault if they get drunk and are raped, has caused a major scandal in Sweden.
According to Statistics Estonia, in February 2014, both the exports and imports of goods decreased by 4% at current prices compared to February 2013.
Estonian state power company Eesti Energia, one of the country’s most valuable enterprises, has prepared an analysis which shows that the coalition promises agreed by the Reform Party and Social Democrats will reduce the company’s value to nothing, write Äripäev.
Struggling Russian economy and weak Ruble mean that the number of Russian tourists visiting Estonia that has been increasing rapidly in recent years could soon start falling, say tourism sector representatives.
The new multifunctional conference centre that the state wants to complete by 2018 when Estonia holds EU Presidency could be located in Ülemiste City and be made part of Tallinn Airport which is close by, writes Eesti Päevaleht.
Swedbank expects Estonian economy to grow 1.8% this year.
Struggling Russian economy is having a negative affect on the economies of Baltic states and Finland and is slowing down their recovery, writes Eesti Päevaleht.
Estonian consumer prices in March were 0.3 percent higher than in February and 0.2 percent higher than in March 2013.
If Baltic countries fail to resolve their disagreements over Rail Baltic project, they could lose not only 85% in EU co-financing, but the whole project, says Henrik Hololei, vice secretary-general of the European Commission, writes Eesti Päevaleht.
In the first quarter, Tallinn Airport served 147,669 passengers which is 1.4% more than a year earlier.
Estonian Institute of Economic Research (EKI) reported that its weekly basket of groceries for a family of four cost EUR 71.61 in March 2014.
Estonian Finance Ministry has again proposed to impose restrictions on the deductions of VAT on company cars, something that businesses are vehemently opposing.
Minister of Finance Jürgen Ligi expects Estonia's economy to expand only 2% in 2014, down from the earlier September forecast of 3.6%, reports ERR.
According to Statistics Estonia, the change of the consumer price index in March 2014 was 0.3% compared to February 2014 and 0.2% compared to March of the previous year.
A total of 1.8 million passengers passed through the ports of Port of Tallinn in the first quarter of 2014.
The general convention of the Reform Party decided over the weekend that the party’s Europarliament candidate list will be topped by former Prime Minister Andrus Ansip, writes Eesti Päevaleht.
In order to facilitate the adaptation of foreigners staying in Estonia it is necessary to ensure better availability of information and existence of an effective adaptation program, finds the study on foreigner adaption to Estonian society.
Eesti Energia’s new strategy for co-production of oil and electricity from oil shale is expected to boost Estonia’s gross domestic product between 1 and 3%.
Maxima is determined to become the market leader on the grocery market in Estonia and hopes that it happen soon, according to Lithuanian businessman Nerijus Numavičiuse who owns the Maxima retailer.
New Minister of Economic Affairs and Infrastructure, Urve Palo, met with Jan Palmer, CEO of Estonian Air, last week, writes Eesti Päevaleht.
Estonian Air is benefiting from the strike of Lufthansa pilots and several flights of the national carrier have been sold out to passengers who have been forced to change their travel itineraries, writes Eesti Päevaleht.
Chairman of Social Democrats Sven Mikser is confident that the current coalition of Reform Party and Social Democrats will have a long life and could become the coalition’s main force, writes Postimees.
Postimees writes that although Estonian national carrier Estonian Air has not yet announced its last year’s loss figure, it is likely to be around 8.1m euros or by one million euros more than forecast by the state.
Lithuania is clearly more active than Latvia or Estonia in attracting foreign investors, says Kitty Kubo, former monitoring manager of the Development Fund, writes Eesti Päevaleht.
Estonians’ investments are notably different than the investments of citizens of other European countries, writes Eesti Päevaleht.
According to Statistics Estonia, in February 2014 compared to February of the previous year, the retail sales of goods of retail trade enterprises increased 3% at constant prices. When in January retail sales increased 7% compared to the same month of the previous year, then in February the growth decelerated.
According to Statistics Estonia, in February 2014, the production of industrial enterprises did not change compared to February of the previous year. The production in manufacturing and mining increased, while the production in energy decreased.
The Social Democratic government of Taavi Rõivas has its proletarian hands up to its elbows in the pockets of entrepreneurs, writes businessman Tõnis Palts, member of the opposition IRL.
Former Swedbank chief analyst Maris Lauri is to assume the job of adviser to Estonia's new Prime Minister Taavi Rõivas.
The supervisory board of the Enterprise Estonia foundation decided yesterday to recall the newly-appointed management board member Andres Rannamäe who was hired only two weeks ago.
The United States plans to join with other NATO nations in increasing ground and naval aforces in Eastern Europe as part of the military alliance’s response to Russia’s incursion in Ukraine, reported ERR.
Investment company Brave Capital Group and Kuno Pindmaa, majority shareholder in KP Factory that manufactures office supplies in Kohila, sold their holdings in KP Factory to investment company Muravei OÜ.
Marko Kaljuveer, the long-time head of the sports news department of ETV, was laid off by the public broadcasting company this week effective from 1 April, writes Eesti Päevaleht.
SEB has cut its 2014 growth forecast for the Estonian economy, projecting 0.5 percent growth in its Eastern European Outlook published yesterday.
Ministers of Estonia's new Reform Party-Social Democratic Party government took their oaths of office before the parliament yesteday.
No-confidence vote called by opposition parties in the Tallinn City Council against Mayor Edgar Savisaar held yesterday for Savisaar’s taxpayer-funded trip to the Sochi Games in February and for his recent remarks made in a speech in Moscow failed.
Today is the final day of Andrus Ansip (57) as Prime Minister of Estonia. He was PM just short of nine years, specifically 8 years, 11 months and two weeks, writes Postimees today.
The Estonian parliament on Monday authorized the Reform Party's Taavi Rõivas to set up the new government.
According to Statistics Estonia, in 2013, freight volume increased 1% in tonnes, but fell 10% in tonne-kilometres.
Estonian homeowners may soon be hit with substantially higher land tax than at present when the transition to current evaluation rather than the 2001 prices is implemented, writes Eesti Päevaleht.
The CEO of Elion, Arti Ots, is to head the business development of the Eurasian business area of Elion's owner Teliasonera as of May 1 in Istanbul, Turkey.
New figures show that Estonia has the least refugees among all EU member states. According to a new international report, Estonia also has the lowest number of asylum applicants and approvals, reports Eesti Päevaleht.
Commenting the statement of the incoming economic affairs minister, Urve Palo, who said last week that her predecessor Juhan Parts had steered Estonian Air to the bring of bankruptcy and that she believed that the airline would go bankrupt, Parts said that what
Change of the Reform Party’s government and replacement of IRL with Social Democrats as coalition partners has increased the popularity of the Reform Party and lowered that of IRL, reported ERR, shows an opinion poll made in March by TNS Emor which includes only respondents who had a clear preference among political parties.
The board of the Estonian Social Democratic Party (SDE) yesterday endorsed the list of the party's candidates for the ministerial positions.
The website of the Estonian Ministry of Foreign Affairs came under cyber attack yesterday afternoon, reported ERR.
Russia signaled concern on Wednesday at Estonia's treatment of its large ethnic Russian minority, comparing language policy in the Baltic state with what it said was a call in Ukraine to prevent the use of Russian, reported Reuters.
Columnist Marek Reinaas writes in Äripäev that Europarliament elections are less than two months away, but the campaign has not even started.
One only hopes that most of the steam of the new Estonian government will not wasted on illusional changes, but meaningful reforms, Postimees daily writes in its editorial.
Columnist Janek Mäggi writes in Äripäev that, as the new candidate for Prime Minister, Taavi Rõivas is like a fresh, but chill wind.
According to Estonian enterprises doing business in Russia, business is being affected also because the purchasing power of Russians has been weakening, partly because of devaluation of ruble.
SEB analyst Ruta Arumäe says that possible EU sanctions against Russia would also affect Baltic countries because they worsen the outlook for the Russian economy.
Estonian economist Maris Lauri writes that EU and US are likely to impose extensive trade sanctions in Russia in the light of Ukraine events. Russia is likely to respond with its own means which may include that the assets of foreign companies in Russia could be nationalized.
The coalition of Reform Party and Social Democrats are promising more funding for various purposes, but do not yet want to say where the additional money will come for, in other words, from which sectors it will be taken away from, writes Postimees.