EEK 1.2 billion disappeared on Tallinn bourse today

Tallinn Stock Exchange faced a deep fall today and investors lost EEK 1.2 billion a day, Tõnis Oja, analyst at Estonian business daily Äripäev writes.

Swedbank faces big loan worries

Swedish Swedbank’s loans in amount of several hundred million kroons to expire during the year. As it is difficult to borrow additional money on financial markets, Swedbank may be forced to ask help from Swedish central bank Riksbanken.

Real estate prices in Tallinn centre down 25 pct in September

Despite some growth of transactions and monetary volumes the prices for apartments continued to decrease in Estonia in September.  As compared to September of the previous year the decrease in prices in Estonian capital Tallinn is already 19 pct; in the very centre of the town it reached even 25 pct, real estate company Ober- Hause writes in it's market overview.

Statistics on fatal road accidents in Estonia shows strong improvement

Postimees writes that traffic police is doing a good job in reducing the number of fatal traffic accidents.

Estonian construction sector prepares for a bloodbath

Estonian authorities expect many construction companies to start paying their workers unreported pay, so-called envelope salaries.

Valio may have misused EU aid in cheese trade with Russia

The trade in cheese made by Võru Juust, Estonian subsidiary of Finnish dairy giant Valio, is being audited.

Port of Tallinn breaks ground for new container terminal

State owned Port of Tallinn has started preparations for building a new container terminal.

Standard & Poor’s cut Swedbank’s rating

Reiting agency Standard & Poor’s lowered Swedbank's long term credit reiting from A+ to A.

Fitch downgrades Estonia, Latvia and Lithuania

Fitch Ratings has today downgraded the long-term foreign and local currency issuer default ratings and country ceilings of Estonia, Latvia and Lithuania by one notch. The outlooks remain negative.

Swedbank reassures savers

Swedbank, Sweden's largest savings bank, moved to reassure depositors yesterday in response to the recent drop in its share price caused by its exposure to the slowing Baltic economies and to stricken investment bank Lehman Brothers, today's Financial Times writes.

Estonian narcotics market turnover exceeds EEK 5 billion

Forest and textile industry nor the cultural sector is able to compete with Estonian narcotics market, which turnover may exceed EEK 5 million.

Swedbank CEO: one of every hundred housing borrowers to default

Erkki Raasuke, head of Baltic operations of Swedbank Group, said yesterday that at present one percent of housing loan customers of Swedbank have repayment problems.

Estonian candy maker Kalev suspected to have juggled with figures

Äripäev suspects that Estonia’s largest candy maker Kalev has juggled with interim figures to make it more attractive for prospective buyers.

Hardo Pajula wins the race of Estonian analysts

Hardo Pajula, chief analyst of SEB, was the most accurate among four Estonian analysts and analysis centres in forecasting the economy of 2007 and early 2008.

Estonian property sales fell to five-year low in Q3

Estonian property sales fell to the lowest level in five years in the third quarter as loan growth slowed due to more restrictive lending terms and weaker consumer confidence, Bloomberg reports.

Estonian construction company Merko Ehitus excluded from public tenders

Estonian window maker invests millions in spite of recession

Valeri Pärs, owner of window maker Plasto, is a bold guy since Plasto invested EEK 50 mln last year when the economy was already slowing down.

Estonian state to buy EEK 11 million campaign in MTV

Estonian state is buying advertisement time in music channel MTV for EEK 11.4 million to attract young people to Estonia, today’s Estonian weekly Eesti Ekspress writes.

Estonian retailer Bauhof quits Ukraine

Estonian retailer Bauhof is closing it’s activities in Ukraine on financial and political crisis, rynok.biz writes.

TV programme: taxi business in central Tallinn under mafia control

Popular Estonian TV programme Pealtnägija has proved that the taxi business in central Tallinn is controlled by mafia, writes Postimees.

Joakim Helenius to build skyscrapers in Ukraine

Investment banker Joakim Helenius is planning to build a tower complex near Harkov in Ukraine, Eesti Ekspress writes.

Estonia is running short of pension money

The pressure on Estonian politicians to change the current pension system is growing since it simply has no money to pay pensions.

Baltika sales up 9 pct in Q3, down 2 pct in September

Estonian fashion retailer Baltika's revenues totaled EEK 336 million in the third quarter, a 9 pct increase compared to the same time last year, in September the revenues annual decline was 2 pct.

Phase one of the Estonian casino island to cost EEK 300 mln

Märt Sults who want the city to build an artificial island off the Tallinn coast and move all casinos to the island wants to borrow EEK 300 mln.

Arco group got a new EEK 198.2 mln loan from SEB to finance Tivoli project

Estonian real estate developer Arco Vara got a new loan from SEB to finance it's projects Laeva and Tivoli in Tallinn, according to Äripäev analysts, the interest is high.

Is the Swedish central bank preparing for collapse of Swedbank?

Eesti Päevaleht business supplement Ärileht writes that the Swedish central bank may have been preparing for collapse of Swedbank.

Estonian retail sales down 6 pct in August

According to Statistics Estonia, in August 2008 compared to August of the previous year the retail sales of goods of retail trade enterprises decreased 6 pct in constant prices.