Starting from this week, Kaidi Merilo started work as CFO of Estonian Air. Earlier, Merilo was working in the airline as financial controller. She was promoted after former CFO Wade Stokes was hired by Transferwise.
Minister of Economic Affairs Kristen Michal has issued a decree that obligates state-owned Estonian Railways to pay back more than 115,000 euros for failure to carry out public tenders, writes Äripäev.
Prime Minister Taavi Rõivas has turned out the invitation of Centre Party MPs to explain the government’s tax policies which means that he could be facing a possible non-confidence vote, reported Äripäev.
„Tallinn does not have the means of London, Paris nor Berlin,“ said Tarmo Mutso, head of the tourism promotion agency of Enterprise Estonia, commenting tax hikes that the Estonian government plans to introduce.
Percentage of invoices that are never paid shrunk by 1.3 percentage points to 1.6 percent in 2014, a report by credit management services company Intrum Justitia shows.
A fifth of employees in Estonia say that bribery or corruption practices are widespread in Estonian businesses, shows a corruption and fraud study conducted by Ernst & Young.
Political analysts say that Estonian Reform Party could start finally changing after the party elected prominent critics including Rein Lang, Kaja Kallas and Urmas Paet to the party board.
According to Klaipeda port, Riga and Klaipeda/Butinge were head to head in cargo handling in four months 2015.
Kaido Saar, chairman of the management board of Bigbank, says that it’s time that bank services become as accessible as other digital services.
There are at least ten high-level vacancies in the Estonian public sector right now, writes Eesti Päevaleht.
Statistics Estonia said today that the average monthly gross wages were 1,010 euros in the first quarter, up by 4.5% year on year.
The international rating agency Fitch has affirmed Estonia's long-term foreign and local currency issuer default ratings (IDR) at A+, with the outlook as Stable.
Lithuanian airline Air Lituanica announced that it has ceased flight operations from mid-day today.
According to Statistics Estonia, 4,637 persons emigrated from Estonia which is 30% less than in previous three years.
Speaking at the government press conference yesterday, PM Taavi Rõivas said that he would not read too much into the fact that he got 2+ on a scale of 1 to 5 at a new PM’s
Ex-justice minister Jüri Raidla says that instead of public criticism, Estonian government needs positive social pressure and support.
An executive of Narva Power Stations, a subdivision of Estonian state-owned energy group Eesti Energia, was detained yesterday by KAPO officials under suspicion of accepting repeated bribes, reported ERR.
European Union Affairs Committee of the Estonian Parliament has started discussing the EU action plan for migration in order to shape Estonia’s positions.
Food and Environmental Hygiene Department of the Hong Kong Special Administrative Region of the People’s Republic of China has granted HKScan Estonia a permit to begin exporting chilled and frozen poultry to Hong Kong, announced the company
State-owned Port of Tallinn will pay out 31.2 million euros in dividend plus 7.8 million euros of income tax.
Tallinn City Government has endorsed a supplement to the city's budget for 2015 in the amount of 34.5 million euros and bring the total size of the budget to 563.7 million euros.
Ambassador Jaak Jõerüüt writes in Äripäev that when discussing the need to accept hundreds of refugees under the Commission quota plan, Estonians forget that refugees can also teach us a lesson or two.
Former European Commission vice president Siim Kallas is denying having a conflict of interest although he is working both as a special adviser to the European Commission and for a major Baltic software company Nortal, creating a possible conflict of interest.
Estonian state-owned rail freight operator EVR Cargo’s freight volume reached 928 thousand tons in April, dropping by 28 per cent compared to April 2014.
Tarmo Mutso, head of the tourism development centre of Enterprise Estonia, says that right now the task facing Estonian tourism sector is not how to convince foreign tourists to visit other places in Estonia apart from Tallinn, but how to attract more foreign tourists in general.
According to Statistics Estonia, in April 2015, the producer price index of industrial output was 1.3% lower than in April 2014.
Former European Commission vice president Siim Kallas works as a special adviser to the European Commission - and for a major Baltic software company Nortal, creating a possible conflict of interest, reports politico.eu.
Harju County Court will today start preliminary hearing in the so-called Autorollo criminal case, reported ERR.
Estonian private airline Avies that belongs to businessmen Priit Piilmann and Allan Soll may soon go bankrupt, writes Äripäev.
Global ridesharing operator Uber says it is cooperating with Estonian authorities in search for best way to legally regulate the service that it launched in Estonia on May 14.
Average monthly gross income per employee was 954 euros in Estonia in 2014, reported Statistics Estonia.
Äripäev writes that plummeting public approval of coalition parties shows that voters are deeply disappointed in the way how parties are protecting their interests.
Minister of Economic Affairs Kristen Michal believes that some state enterprises including EVR Cargo and Eesti Teed should be sold into private hands, writes Äripäev.
The public approval rating of the Estonian PM Taavi Rõivas is 2+ on a scale of 1 to 5 where 1 is very poor and 5 is very good, shows a poll by Eesti Päevaleht.
Estonian businessman and investor Raivo Hein writes in Äripäev that Estonian government must start establishing its long-term narrative, and stop toying with taxes.
Estonian Air carried 46,089 passengers during April, of them 45,918 on regular flights, and the number of passengers on regular flights grew by 8.7 percent compared to the same period last year.
Businessman Jaak Nigul who is board member of Tarmeko KV, a furniture manufacturer, writes in Äripäev that companies should consider a possibility to go on a “tax strike” against the state.
Äripäev writes in its editorial that Märt Rask who will be advising the Prime Minister Taavi Rõivas in the areas of administrative reform and public law may have a conflict of interest.
Media and communication expert Raul Rebane writes in Postimees daily that Estonian politics, business and social life is facing major challenges.
Jaan Männik, 70, who was a long-term chairman of Eesti Telekom before becoming head of supervisory board of Bank of Estonia in 2008-2013 has agreed to run for the chairmanship of political party IRL, reported Äripäev.
International taxi booking company Uber officially expanded to Tallinn last week by launching its UberPOP app and competitors are already claiming that the company’s services are illegal, writes Äripäev.
Lithuanian economy will be the fastest growing in the Baltics both this year and the next, according to EBRD.
Karli Lambot, chairman of the supervisory board of Ace Logistics Group, writes in Äripäev that the Estonian tax policy is like a fairy-tale that offers nothing but wishful thinking and creates dreams.
According to the latest Labour Force Survey, Estonia’s unemployment rate fell 1.9 percent to 6.6 percent in a year in Q1, reported Statistics Estonia.
Port of Tallinn‘s revenue in the first quarter was 27.9 million euros, down from 30.7 million a year earlier.
Estonian shipping group Tallink said it lost 13.3 million euros in the first quarter of 2015, up from a loss of over 23 million euros a year earlier.
Brian Souter, a Scottish billionaire whose bus companies operate in both Finland and Poland is preparing to expand his bus operations also into Estonia, writes Äripäev.
The Estonian economy has potential for annual growth of 3-4 percent in the next few years, governor of the Estonian central bank Eesti Pank Ardo Hansson said.
Finnish-owned manufacturer of bullet-proof vests C.P.E. Production Oy s claiming half a billinon euros from Estonian Defence Forces for damaging its reputation and leaking the company’ business secrets.
Estonian consumer price index was 0.1 percent lower in April than in the same month
188,000 domestic and foreign tourists used the services of accommodation establishments in March 2015, which is 3% fewer than in March 2014.
Gorail, subsidiary of Estonian transport company Go Group stopped operating a passenger train line Tallinn-St Petersburg this week, while the last Tallinn-Moscow train line will come to stop on May 18.
Hotels in Tallinn and elsewhere in Estonia are facing tough times as in addition to the government plan to increase VAT rate they are also accommodating fewer and fewer Russian and Finnish tourists, the two main tourist groups visiting Estonia, reports Äripäev.
According to Statistics Estonia, the change of the consumer price index in April 2015 was 0.5% compared to March 2015 and -0.1% compared to April of the previous year.
The government agreed yesterday that it will increase VAT rate on accommodation sector from the current 9 percent to 14 percent and to increase excise duty on fuel over three years, not four as originally planned.
Banker and businessman Indrek Neivelt believes that instead of increasing VAT on accommodation services from 9 percent to 20 percent, as planned by the government, it should be decreased.Neivelt said that in essence, accommodation service is exports which should not be taxed by VAT.
European Parliament member Kaja Kallas is criticising Reform Party for agreeing to a coalition agreement that is filled with Social Democratic initiatives and promises, writes ERR.
Eesti Päevaleht writes in its editorial that if the situation with the Taavi Rõivas second government were not so sad, it would be comical.
Eesti Päevaleht writes that the next two weeks will be critical for the coalition: the deadline is the first reading of the bill on amendments in taxes and excise duties before the parliament goes to a summer recess.
Some of Estonia’s most powerful businessmen say that the government is fooling itself when it claims that reducing social contribution tax rate by 1 percent is going to create jobs or make employers to increase wages.
Estonian ferry operator Tallink announced that it has sold its MS Silja Festival to Medinvest SPA after the deal made with Bridgemans Service failed.
Ärpäev writes in its editorial that the fact that the unemployment insurance fund or Töötukassa is sitting on 600 million euros in assets or three times more than in 2010 is a reason itself to stop the current system.
At the time when the government is looking for revenue sources to cover 1 percent cut in social tax rate, the Estonian Unemployment Insurance Fund or Töötukassa has 610 million euros that are sitting idle, writes Äripäev in its top story.
Rescue services were on high alert in Tallinn Airport afer midnight on Monday because an Estonian Air aircraft that had departed Brussels had reportedly developed technical problems.
Aivo Adamson announced last week that he is resigning on his own initiative as director-general of the national road administration, writes Äripäev.
The government state is losing hope that it can collect an additional 47 million euros by year-end from changing taxation of company cars, writes Eesti Päevaleht.
The cabinet did not approve the proposals made yesterday by Finance Minister Sven Sester to refrain from raising the value added tax on accommodation services and to postpone the planned fuel excise duty hike and has asked Sester to draw up a new budget strategy aimed at balancing the budget, write Äripäev.
Enterprise Estonia (EAS), a government agency that promotes business in Estonia, announced that it is restructuring which includes staff cuts.
According to Delfi, Finance Minister Sven Sester is going to propose to the cabinet meeting today to abolish the planned increase in VAT for hotels.
A survey made by Enterprise Estonia shows that most Finns who have settled in Estonia are happy with their life and say that they are doing better than at home because of higher purchasing power, reported ERR.
Estonian accommodation establishments are worried that the market position of Booking.com is getting too strong and starts to influence the prices.
State-owned Port of Tallinn says that it now expects 281 cruise vessels with 480,000 cruise tourists on board to visit Tallinn in 2015.
Riga International Airport was closed for a few hours this morning over a bomb threat, reported ERR.
Banks operating in Estonia earned 191 million euros in net profit in the first quarter of 2015.
Äripäev writes that thanks to well-planned and targeted tax policy, Latvia has become the hotbed for growth companies.Last week the Latvian parliament passed amendments to the Law on Micro Enterprise Tax restoring the tax rate of micro enterprises at 9 percent of annual turnover.
UPDATE: adds comments from owner of Tavid and CEO of Tavex
Estonian ferry operator has apologized to its customers and employees over claims that its former employee Jaak Madisson who in March became Estonian MP used to harass his female co-workers on a Tallink ferry.
Kaido Saar, CEO of Bigbank, writes in Äripäev that the European economy is struggling mainly because the single market cannot break down borders, especially digital borders between member states.
Estonian financial group LHV Group earned a net profit of 5.1 million euros in the first quarter of 2015.
It is not surprising that people feel that the country is run primitively, because politicians are unable to manage the processes that are shaping the nation either because of inexperience or lack of interest, says Estonian economist Heido Vitsur.
Former minister of exports Anne Sulling says that instead of increasing fuel excise duty, the ruling coalition should revise some of its promises, writes Eesti Päevaleht.
Estonian ports handled in March 3.1 million tons of goods, 27 percent less than in the same month a year earlier.
The prices of dwellings in Estonia in Q4 were 10.1 percent higher than in the same period in 2013, which put Estonia in fourth place in terms of price growth after Ireland, Malta and Sweden, Eurostat reported.
Estonia did best among Baltic countries in the Global Information Technology Report 2015 published by the World Economic Forum this week.
Äripäev believes that the excise duty issue will become the first test for the strength of the new coalition.
Estonian internal security agency KAPO makes no secret that Estonians who have contacts with businessmen from Russia and other CIS countries are under special attention, writes Äripäev.
Estonian Air carried 45,472 passengers in March, 11.3 percent more than in the same month in 2014.
Priit Põldoja ja Jan Andresoo, two former executives of Hansabank, have set up a new bank in Estonia with the help of several investors from Monaco, writes Äripäev.
Scandinavian banking group DNB expects Estonia’s economy to expand 2.2 percent this year, up from 2 percent.