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Äripäev publishes list of top dividend earners

Fri, 03 Feb 2012 11:25:07 GMT

Toomas Annus, Vjacheslav Rabotshev and Heino Harak are the top three dividend earns in Estonia on their companies’ 2010 results, shows a list of top dividend earners published by Äripäev today.

Government approves ESM, may get a 1.3-billion-euro bill

Fri, 03 Feb 2012 08:54:20 GMT

The government has approved the European Stability Mechanism treaty in which Estonia’s share is 0.186 percent or about 1.3 billion euros.

No-one knows the number of Estonians living abroad

Fri, 03 Feb 2012 08:53:36 GMT

More and more Estonians have found new home and work abroad, but until now the state has lacked accurate data about their number.

UniCredit: we will remain in the Baltics

Thu, 02 Feb 2012 13:06:16 GMT

Italy's UniCredit Bank that enjoys a strong presence in Central and Eastern Europe but a limited exposure in the Baltics has been recently speculated to be a likely candidate to sell its regional business. The bank itself denies the potential exit, writes news2biz.com with reference to Verslo Zinios.

Anders Borg: Swedish banks should regard Baltics as their home

Thu, 02 Feb 2012 08:59:02 GMT

Swedish finance minister Anders Borg who visited Tallinn yesterday and had a meeting with the Estonian finance minister Jürgen Ligi said that he has a message for Swedish banks that operate at home, writes Eesti Päevaleht daily.

Estonian-Finnish undersea power cable out of service for days

Thu, 02 Feb 2012 08:19:45 GMT

“It’s a technical problem that started in the Harku converter station that was corrected by ABB, but then there were more problems with the cable in the Finnish side in Espoo,” is how Taavi Veskimägi, CEO of Elering that operates Estlink power cable between Estonia and Finland, explained the cause of problems.

The Chinese New Year carnival cost the city 43,700 euros

Wed, 01 Feb 2012 13:23:42 GMT

The Tallinn City Government said it had allocated 43,700 euros to cover the cost of the festivities related to the Chinese New Year that were held last Monday in the Kadriorg Park in Tallinn.

Estonia postpones e-census deadline by 24 hours

Wed, 01 Feb 2012 10:07:07 GMT

Statistics Estonia announced yesterday that it had extended access to e-census by 24 hours due to a large number of users who were attempting to enter their data yesterday. This means that people will be able to participate online in the Population Census until 23:59 on 1 February.

Group of prominent Estonians propose to erect statue to Boris Yeltsin

Wed, 01 Feb 2012 10:04:08 GMT

Thirty-nine public figures and businesspeople in Estonia have made a proposal to erect a statue to commemorate the contribution of Russia’s first president, Boris Yeltsin, to the restoration of Estonian independence. Boris Yeltsin would have been 81 years old on 1 February of this year.

Tax board to hire another 70 tax auditors

Wed, 01 Feb 2012 08:43:38 GMT

Estonian tax authority plans to hire tens of tax auditors this year, seeing it as the best option in increasing tax collection, writes Postimees daily.

Rail Garant starts building container terminal in Muuga

Tue, 31 Jan 2012 11:46:39 GMT

Yesterday one of Russia’s leading rail transport companies Rail Garant officially started construction for a new large container terminal in Muuga, writes Eesti Päevaleht daily.

Estonia eyes world record in online census

Tue, 31 Jan 2012 11:37:41 GMT

697,888 people had been enumerated by 4 pm yesterday in the ongoing Estonian Population and Housing Census which represents almost 53 percent of the country’s estimated population, writes Eesti Päevaleht daily.

Flybe to operate a route between Tallinn and Copenhagen

Tue, 31 Jan 2012 09:40:05 GMT

Finnair’s subsidiary Flybe Nordic is planning to launch a flight route from Tallinn to Copenhagen before the end of 2012.

Estonia industrial production surges In 2011

Tue, 31 Jan 2012 08:36:28 GMT

Industrial production in Estonia climbed 17.9 percent in 2011 compared to the previous year, Statistics Estonia said Wednesday.

Top 10 M&A deals in the Baltics in 2011

Mon, 30 Jan 2012 14:47:56 GMT

Eurozone turbulence last year lowered expectations in the mergers and acquisitions (M&A) market and prompted forecasters to look more prudently into the future. Still, following the meagre recession years, 2011 was marked by growth in the number of M&A deals in the Baltics.

George Soros: New Year, Same Crisis

Mon, 30 Jan 2012 14:21:13 GMT

George Soros, Chairman of Soros Fund Management and of the Open Society Institute, writes that with the euro crisis still acute, the prospect of a global financial meltdown remains very much alive.

Lithuanian GDP up 5.9% in 2011

Mon, 30 Jan 2012 11:39:12 GMT

Lithuania's GDP rose in 2011 by a seasonally and working day adjusted 5.9%, a flash estimate by the statistics department shows, reports newsbiz.

Official: making English a second state language in Estonia is nonsense

Mon, 30 Jan 2012 08:32:49 GMT

Ilmar Tomusk, head of the Estonian language inspectorate, writes in Postimees daily that people who talk about the need of making the English language a second official language in Estonia don’t understand what they are talking about.

Estonian retail sales growth quickens In December

Mon, 30 Jan 2012 08:22:41 GMT

Estonia's retail sales volume increased at a faster pace in December, data released by Statistics Estonia showed Monday.

Lithunian retail trade volume up 8.8% in 2011

Fri, 27 Jan 2012 13:02:25 GMT

In 2011, Lithuania's retail trade sector posted a much awaited trade volume recovery of 8.8% after two contraction years of -22% in 2009 and -7% in 2010, writes news2biz.com

Developer starts renovation of former KGB building in Tallinn Old Town

Fri, 27 Jan 2012 12:04:40 GMT

Reconstruction works have commenced at the property of Pagari 1 in Tallinn Old Town, to convert the historical building that by 1990s was used by Soviet security forces into 42 luxurious apartments.

Russian businessmen buy cinema Kosmos building for 770,000 euros

Fri, 27 Jan 2012 09:33:39 GMT

Iron Capital OÜ that belongs to citizens of Russia Evgeni Muljukov and Olga Revjakina has acquired the cinema Kosmos building at Pärnu mnt 45 in central Tallinn, writes Äripäev.

Tallinn Airport expects 15% growth in 2012

Thu, 26 Jan 2012 14:57:59 GMT

Tallinn Airport expects to service 2.2 million passengers this year, up about 15% from 2011. The most significant contributors to the growth are expected to be the national carrier Estonian Air as well as discount airlines, Erik Sakkov, member of the board of Tallinna Lennujaam has told Äripäev.

Officials: ACTA will have an impact on Estonian legislation

Thu, 26 Jan 2012 14:19:36 GMT

Representatives of the ministry of foreign affairs admit that the Anti-Counterfeiting Trade Agreement (ACTA) that is set to be signed in Tokyo tomorrow will have an impact on Estonian legislation since it will be an international obligation for the state and must be considered when drafting legal acts, writes Eesti Päevaleht.

Rail company E.R.S. testing new locomotive

Thu, 26 Jan 2012 12:25:47 GMT

Estonia’s largest railway cargo transportation company E.R.S. is testing a new freight locomotive, the GE “Evolution” TE33A diesel locomotive, assembled by Locomotive Assembly Plant in Astana that is able to pull trains with a weight of up to 5,200 tons.