Heating price in Tallinn falls 11 pct

AS Tallinna Küte lowers heating prices by about 11 pct retroactively from March 1, ERR News reports. The number announced today and the new price is depending on US dollar’s exchange rate. April’s bill is calculated on new, lower price.
In February the heating prices dropped by 7,2 pct and in January 9 pct. In three months the [...]

Euro strengthens economic environment

Foreign Minister Urmas Paet met with Portuguese Foreign Minister Luís Filipe Marques Amado, who was in Estonia for an official visit. Foreign Minister Urmas Paet expressed his satisfaction that the first visit ever to Estonia by a Portuguese foreign minister has taken place.
Paet introduced Estonia’s plans for joining the euro-zone with his Portuguese colleague. “Estonia [...]

Amserv to start as Peugeot dealer in April

Under a co-operation agreement signed with the Peugeot importer KW Bruun Baltic, Amserv Grupp will become a dealer for Peugeot from April.
Peugeot cars will be sold and serviced by the dealerships of Ascar, a holding of Amserv Grupp, in Tallinn and Tartu.
Raivo Kutt, CEO of Amserv Grupp, said Amserv added Peugeot to the list of [...]

Sales of self-scanning systems to retail sector increased

New Vision, the leading provider of information technologies for retail in Baltic States, reached 11,1 million euro of consolidated revenue. It is 17 % more than in 2007.  In year 2009 New Vision recommends for retailers not to save blindly but to  select those investments, which has a clear short term ROI.
In 2008 retailers were [...]

Baltika to open ten stores

The listed Estonian garment maker and seller Baltika is about to open ten new brand stores in Estonia in the first half of 2009, two of them in the south-western city of Pärnu, this Thursday.
Four stores will be opened in the extension of the Rocca Al Mare shopping centre in Tallinn that is due to [...]

EU allocates 6.7 mEUR for Estonia-Latvia gas link

Aside from the Estlink-2 undersea power cable project, the project to build a gas link between Estonia and Latvia also stands to receive support from the EU’s economic stimulus package.
The size of the EU allocation for the gas link project is 6.7 million euros.
Prime Minister Andrus Ansip said after the EU summit on Friday that [...]

Profit of Playtech soars 55 pct

The developer of online games and gaming environments Playtech has posted a profit of 41 million euros for 2008, which marks a 55% increase over the profit earned in the year before.
Playtech’s total revenues surged 70% to 112 million euros. The casino business gave 79 million euros and poker 30 million euros of revenues.
Playtech signed [...]

Attract Russian tourists with tax-free shopping

Tax free limit, which was applied at the beginning o the year, increased tourists’ interest so remarkably that Juhan Parts, the Minister of Economic Affairs and Communication thinks that the limit could be lowered more, Eesti Päevaleht reports.

Last year a tourist has to spend at least EEK 2500 to get tax discount. This year the [...]

Foreign trade declined sharply

According to Statistics Estonia, in January exports of goods in current prices totalled 7.2 billion kroons and imports 8.8 billion kroons. Compared to January of the previous year, exports declined by 29% and imports 36%. The decrease in value of exports and imports began already in November 2008.

In January exports of goods was 2.9 billion [...]

Overdue loans 4% of banks’ loan portfolio

The volume of banks’ loan and leasing portfolio declined 0.4%, i.e., 1.1 billion kroons in February. The decrease was relatively moderate considering the current economic situation. The total portfolio volume in February was 266 billion kroons. The contraction in the volume of the loan and leasing portfolio was rather uniform across both enterprises and households. [...]