Starman delisted

On March 5, 2009, the Listing and Surveillance Committee of NASDAQ OMX Tallinn Stock Exchange decided to satisfy the application of Starman AS from January 22, 2009, and to delist its shares from the Main List of TSE starting from the next day after the Estonian CSD has transferred the minority shares to the majority shareholder – Baltic Moontech Investments Holding AS.

On February 25, 2009, the extraordinary general meeting of shareholders of Starman decided to approve the takeover of shares from the minority shareholders by Baltic Moontech Investments Holding AS against a fair monetary compensation in the amount of EEK 89,96795 (EUR 5,75) per share. After the takeover of shares, Baltic Moontech Investments Holding AS will be the only shareholder.

Source: BBN

Tenants want to use the apartment for free

There are bunch of aggressive tenants on the market, who want to use the apartment for free and only pay utilities, Jekaterina Petrova, the broker at Pindi wrote to ehitusuudised.net.

Mostly these offers are made to objects, which have been on sale for a long time. They say that paying utilities for a dwelling which is enough anyway, is compensation enough.

The owners of dwellings reject these offer, because not paying utilities isn’t reason enough to give dwelling for unfamiliar person to use.

Anyway, that thing has happened in the small towns, where rent prices are low and utility costs may be higher than the rent. In that case the owner of a dwelling has to accept that he/she is not getting any revenue from rent, but he/she is also not paying for utilities.

In bigger towns this transaction is pointless for owners. There are plenty of decent renters, who can’t or don’t want to take a housing loan from the bank.

Although there is pressure on the prices, it’s possible to fine a tenant in couple of weeks, if the price is reasonable.

Source: BBN

Estonia’s standard of living among the lowest in EU

Although in the past couple of years Estonia and Latvia have been like European tigers, by showing admirable development and economic growth, it doesn’t reflect in people’s welfare, Postimees writes.

According to the statistics, Estonians and Latvians standard of living is the lowest together with Slovakia. And it’ll likely get worse.

Human development report, that’ll be published next week, says that the countries should increase working opportunities, access to the health care and education, security in the society, offer social protection, decrease the level of crimes etc.

Currently Estonia is going in the opposite direction – unemployment is rising, options for retraining are bad, level of crimes is increasing, social securities are decreasing, shops, post offices and bus traffic are closed in rural areas.

Read more here BBN

Consumer price index in February

According to Statistics Estonia, the percentage change of the consumer price index in February 2009 compared to January was -0.3% and compared to February of the previous year was 3.4%.

The change of the consumer price index compared to the same month of the previous year was less than 3.5% last in June 2005, when it was 3.1%.

In February 2009 compared to February of the previous year, the prices of goods had changed by 0.9%, of which the prices of food products had increased by 6.1% and the prices of manufactured goods had decreased by -3.3%. The prices of services had changed by 8.0%. Regulated prices of goods and services changed by 9.2% and non-regulated prices by 1.6%.

Compared to February 2008, the consumer price index was mainly influenced by alcoholic beverages and tobacco (the price increase together 20.5%) and by the impact of the expenditures on housing, of which the price increase of heat energy by 29.3% gave about three quarters. The index was also greatly influenced by motor fuel, the prices of which were about 20% lower in February 2009 compared to the same month a year ago.

In February compared to the previous month, the consumer price index was mainly influenced by the decrease in the expenditures on housing, the main reason of which was the decrease in the prices of heat energy. The increase in the prices of motor fuel and the decrease in the prices of food also had a big impact on the consumer price index.

Change of the consumer price index by commodity groups, February 2009

Commodity group February 2008 –
February 2009, %
January 2009 –
February 2009, %
TOTAL 3.4 -0.3
Food and non-alcoholic beverages 1.3 -0.9
Alcoholic beverages and tobacco 20.5 0.0
Clothing and footwear 0.7 0.7
Housing 10.3 -2.4
Household goods 3.8 0.4
Health 6.5 0.0
Transport -8.0 1.6
Communications -0.8 -0.1
Recreation and culture 0.7 0.3
Education 6.5 0.1
Hotels, cafés and restaurants 5.1 -1.5
Miscellaneous goods and services 8.4 0.5
Source: Statistics Estonia