At a time when in the last five years, Estonian labour market has lost about 40,000 people and, according to forecasts, another 40,000 will be leaving in the next five years, more and more foreigners are being attracted to Estonia in the hope to find better life, writes Äripäev.
The European Bank for Reconstruction and Development ( EBRD) cut its estimate of Estonian economic growth this year to just 1 percent from 2 percent in May.
The government decided yesterday at its meeting to continue with the plan to set up a Russian-language TV channel under Estonian Public Broadcasting Company ERR, reported Aktuaalne Kaamera.
SEB says in its September Investment Outlook that the Baltic states, especially Estonia, will be hardest hit by the Russia-Ukraine conflict as their trade with Russia is extensive.
On Tuesday, the Estonian government agreed on next year's annual budget in the total amount of 8.5 billion euros, reported ERR.
Baltic states were in the top four countries in EU where hourly labour costs increased most, reported Eurostat.
There is a big risk that the estimate of the structural surplus of the state budget in 2014-2015 is inflated, says the Estonian Budget Council.
Estonia is struggling to implement the EU energy directive that requests the country to save 7.1 TWh of energy by 2020, writes Postimees.
Teet Soorm, CEO of HKScan Estonia, Estonia’s largest meat packer, writes in Äripäev that Estonian pig farmers are ready to battle the African swine fever or ASF that threatens to annihilate the whole pig cattle in Estonia, but cannot do it without the Estonian state and the European Union.
Moonrider Ltd, a company owned by one of Estonia’s richest businessmen Marcel Vichmann, has filed a claim in court to declare businessman Oliver Kruuda bankrupt, while Kruuda denies any claims, writes Äripäev.
Estonian transit and logistics companies say that the June decision to amend excise duty regime banning specially marked oil or so-called blue diesel fuel will deal a death blow to the Estonian rail transport sector because a switch to a different fuel means higher costs that rail transport companies which are already suffering from loss of Russian business.
The Norwegian DNB bank is forecasting a 0.7 percent economic growth for Estonia for this year and a 2.5 percent growth for 2015.
Spanish businessman Juan Roman Saenz-Diez is representing financiers who are planning to build a large data warehouse in seaside Haapsalu in Western Estonia, writes Eesti Päevaleht.
European Union member states agreed on Thursday to implement a new round of sanctions against Russia, diplomatic sources said, after sharp disagreements on how to factor-in a ceasefire in Ukraine.
EstLink 1 and EstLink 2, the undersea power cables linking Estonia and Finland, are both down and will not be in operation also today, writes Äripäev.
As expected, former Estonian PM Andrus Ansip has been named candidate for European Commission vice president in the new team of EC President Jean-Claude Juncker.
Estonian Chamber of Commerce and Industry is actively lobbying MPs aimed at making sure that entrepreneurs have at least six months to adapt to tax changes, writes Äripäev.
Estonian Air said it carried 53,554 passengers in August, an increase of 3 percent year on year.
Several flights were delayed or cancelled in Tallinn Airport this morning because of thick fog, reported Delfi.
The Tallinn Airport said it served 208,370 passengers in August which is 4.3 percent more than a year ago.
Swedbank is considering raising Estonia’s economic growth forecast, the banking group said.
Some 150 Estonian enterprises and organizations, including Health Sickness Fund, are advertising their products in pro-Kremlin state media channels such as RTR Rossija which is also available in Estonia, writes Äripäev.
In what seems to be a major diplomatic row and the first serious standoff between Estonian and Russian security services, Eston Kohver, an official of KAPO, Estonia's national agency for counterintelligence, was reportedly kidnapped at gunpoint on Friday morning at Luhamaa border checkpoint on the Estonian side of the border by FSB, the Russian federal security agency, and taken to Russia.
Äripäev writes in its editorial that well-known Estonian enterprises are advertising their products in pro-Kremlin TV stations that are shown in Estonia.
Estonian economy grew 2.4% in the 2nd quarter year on year, Statistics Estonia announced in its
Estonia's ex-Prime Minister and current member of the European Parliament Andrus Ansip has reportedly been offered a vice president's position in the new European Commission and become responsible for the digital sector, reported Postimees.
A study made in the Ministry of Economic Affairs shows that if Gazprom were to stop supplying gas to Estonia, the country would have a gas supply for only five days, writes Eesti Päevaleht.
Estonian-based security-technology provider Guardtime has teamed up with Ericsson AB, the world’s biggest maker of wireless-network equipment, to improve the safety and transparency of the data transmitted over its systems, Äripäev reports.
Nordea Bank expects Estonian economy to grow 0.7 percent this year, compared to a previous forecast of 1.2 percent in June.
Estonia is ranked 29 among 144 nations in the new global competitiveness rankings of The World Economic Forum, reported ERR.
In Tallinn yesterday, US President Barack Obama gave the most important speech about European security — and issued the most important pledge—of the post-Cold War era. No U.S. president since Reagan has used such forceful language against Russia, reported The Atlantic.
Postimees writes in its editorial that the visit of US President Barack Obama in Tallinn is sending several messages.
Estonia recorded the largest increase in producer prices of any European Union member nation in July, according to figures published by Eurostat.
US President Barack Obama arrived on Air Force One at 6:22 today for his one-day visit
Finnish food group Fazer announced yesterday it will close its plant in Tallinn in April,
Ants Vasar, board member of Viru Keskus shopping centre, writes in Äripäev that for retailers the big question is how much new shopping space Tallinn can still accommodate, considering the people’s limited purchasing power and population.
In July 2014, the retail sales increased 10 percent at constant prices from the year earlier, Statistics Estonia reported.
On September 24, Äripäev business media group will host Business Plan 2015 (Äriplaan 2015), the leading business conference in Estonia that will bring together over 600 participants.
Commenting Kristina Narusk, head of the Service Industry Council, said that many countries including most European countries, but also Australia, US and Singapore have had similar program for years.
Enterprise Estonia plans to start attracting foreign specialists for work in Estonia as the country needs 3,500 new specialists until 2019, writes Postimees.
In Q2, average monthly gross wages were 1,023 euros, an increase of 4.8 percent year on year, according to the Wages and Salaries Statistics Survey.
Today, Restaurant Dvigatel, Estonia’s largest restaurant with approximately 1,743 sqm of floor space, opened doors in Ülemiste City business district.
A study of a bank account owned by convicted former Environment Minister Villu Reiljan and his wife Anne Reiljan shows how important business is in politics in Estonia, writes Äripäev in its investigative journalism report.
Estonia's next year's state budget will be up to 5 percent bigger than this year and in nominal deficit but the government is not planning to take on any new loans to cover the budget's expenses, Estonian Prime Minister Taavi Roivas said.
It’s is not yet known how much the upcoming visit of US President Barack Obama will cost Estonia, but according to the Minister of Interior Hannu Pevkur, the amount may exceed half a million euros, writes Postimees.
Speaking at the conference "Are Estonian wages growing too fast or too slowly?", Tartu University economics professor Raul Eamets recommended a comprehensive analysis of the current taxation system.
Businessman Indrek Neivelt said that Estonian employers were only interested in making a profit instead of looking further into the future.
Yesterday the Estonian Central Union of Trade Unions hosted a conference “Are wages growing too slowly or too fast in Estonia?”, writes Eesti Päevaleht.
Swedbank has lowered its forecast of Estonia's economic growth in 2014 by 1 percentage point to 0.8 percent.
Valdis Dombrovskis is one of the top candidates to succeed Herman van Rompuy as head of the European Council, writes Eesti Päevaleht.
Latvian national carrier airBaltic said its first-half net profit for 14 million euros, up from a loss of 12 million euros in the first half 2013.
Estonia is planning to set up a network of so-called digital embassies to make sure that its vital data is safe as part of the national cyber protection strategy, writes Postimees.
UAB Merko statyba, a company of the listed AS Merko Ehitus group, and VsI Tarptautine Amerikos mokykla Vilniuje signed a contract on Aug. 20 under which Merko will build the sports hall of the American International School of Vilnius.
State-owned Port of Tallinn reported that its seven-month net profit amounted to 25.7m euros, an increase of 22% year on year.
Estonian-based Eften Real Estate Fund has acquired Nordic Technology Park business and industrial property in Riga for 20 million euros, reported Äripäev.
Tallinn City Court yesterday started to hear a lawsuit where a controversial businessman Marko Kalev who is suspected of tax fraud in fuel trading is claiming a total of 12,000 euros from opposition politician Eerik-Niiles Kross, writes Äripäev.
National carrier Estonian Air said yesterday it ended last year with a loss o 8.1 million euros.
Petri Nikkilä will replace Andreas Laane as head of the Estonian operation of Nordea from September 1.
Estonia’s economy should grow 2.5 percent in 2014 and 3 percent in 2015, Moody's Investors Service said in its update on Estonia published this week.
Estonian Air CEO said ahead of announcement of the airline’s second-quarter results that they are roughly the same as last year, but not meeting the company's expectations.
Four Russian manufacturers that were planning to invest in Narva industrial park have frozen their investment plans for several plans in connection with the Ukraine crisis, reports ERR.
A new international survey of children funded by the Swiss-based Jacobs Foundation shows that Estonian children whose parents are working abroad feeling more miserable than their counterparts, writes Eesti Päevaleht.
As a country, Estonia is trapped in the group of medium-income countries where only a few have managed to break out, said ex-banker Indrek Neivelt at the Opinion Festival held last weekend in Paide, writes Äripäev.
Retail price of food products increased 58% in Estonia in the last ten years, from May 2004 to May 2014, according to Eurostat.In the EU, food prices were up only 27% over the same time.
Christian Mihr, head of the German unit of Reporters Without Borders (RWB), says that information that Estonia may be among the states that is using the infamous FinFisher surveillance software raises concerns.
It’s now been a year since Robbie Williams performed in Tallinn to 60,000 people in his „Robbie Williams: Live In Tallinn” concert, but the DVD which was ordered to be made as part of Estonia’s new marketing campaign is not yet ready, writes Eesti Päevaleht.
Estonian Air will take over a slot vacated by Flybe and start
Budget airline Wizz Air is considering plans to add Tallinn to its destinations, according to its chief commercial officer Gyorgy Abran, reported ERR this week.
Eesti Päevaleht writes that recent leaks from the customer support database of Gamma Group, the UK-based developer of FinFisher (aka FinSpy), one of the world’s most powerful surveillance software systems, show that the system is being used also in Estonia, most probably by police or intelligence agencies.
According to the new ranking by Freedom House, Estonia is second only to Slovenia in its democratic development among former Communist countries in Central and Eastern Europe and the former Soviet Union, reports ERR.
Sports Direct International plc, a British retailing giant that is known for its low margins, will open its first store on 1,600 sqm in Tallinn in Ülemiste Shopping Centre at the end of October, writes Äripäev. Remi Aare, Baltic area manager of Sports Direct, said that the store will be offering same prices as in UK.Guido Pärnits, board member of Ülemiste Shopping Centre, said that the company took advantage of the fact that the mall was expanding, becoming the anchor tenant in the newly-built section.„While many retailers are trying to add e-commerce to their retail business, Sports Direct is supporting its e-commerce with physical stores,” said Pärnits.
The closure of an assembly plant of PKC Eesti in Haapsalu, employing 347 people, has triggered a wave of accusations some of which are targeted at the government and Finance Minister Jürgen Ligi, in particular, writes Eesti Päevaleht.
The new owner of the Tõlluste manor house located in Saaremaa is the Estonian subsidiary of Natura Siberica, a Russian-owned natural cosmetics brands, writes Meie Maa.
Estonian food producers admit that they did not expect Russia to impose a total ban on food imports from EU and say this is equivalent to declaring a trade war, writes Äripäev.
Estonian consumer prices in July were 0.2 percent lower than in June and 0.4 percent lower than in July 2013.
In July, the number of passengers served by Tallinn Airport was up by 6.8 percent year-on-year, to 211,916, almost all of them travelling on international flights.
In July 2014, Estonian Air carried altogether 55 445 passengers, an increase of 9.1% compared to the same month last year when Estonian Air carried 50 806 passengers. In July Estonian Air operated 967 flights, an increase of 12.1%.
Merko Ehitus reported revenue of EUR 64.8 million in the second quarter and EUR 113.7 million for the first six months of 2014.
International manufacturer of wire harnesses PKC Group that has two plants in Estonia in Keila and Haapsalu announced that it is going to close down its plant in Haapsalu by the end of this year.
Moscow is slapping a ban on EU-imported fruit and vegetables and food from the US in retaliation for western economic sanctions, reported EUobserver.
Äripäev’s editor in chief Meelis Mandel writes that these are both exciting and terrible times when because no-one knows what is going to happen.
Listed Estonian shipper Tallink Grupp announced yesterday that it carried 1,092,180 passengers in July, which is 3 percent less than a year earlier, writes Äripäev.
Russian companies that have been planning to invest in Estonia this year are mostly postponing investment plans, says Teet Kuusmik, CEO of Ida-Virumaa Tööstusalade Arendus, a company that is developing industrial parks in Northeast Estonia.
In June, Estonia posted the largest decrease in industrial producer prices at 6.6 percent year on year, according to Eurostat.
The ambitious plan that is backed by Finnish businessmen and is being promoted by leading IRL politician Eerik-Niiles Kross to build Europe’s largest data warehouse in Estonia raises doubts, writes Delovye Vedomosti.
Swissôtel Tallinn has won three categories in the 21st annual World Travel Awards.
Eesti Päevaleht writes that Centre Party’s MP Olga Sõtnik not only owes about 260,000 euros in debt, but has also taken a 5,500 euro instant loan.