Major regional banker Swedbank has cut its estimate for Estonia's 2012 GDP growth to 2.7 percent, down from the 3.3 percent it predicted last month.
Maivi Ots, managing partner of Law Office Eversheds Ots & Co, and Lauri Liivat, associate, write that the legislation in force in Estonia is discriminating US companies by prohibiting them to directly acquire shares of Estonian registered public limited companies.COMMENTS (5)
“Foreign investors have stopped buying local stocks, there is no market for stocks or bond and local pension funds play a marginal role. It’s like Central Africa,” says Sven Kunsing from the asset management arm of SEB.COMMENTS (9)
Icelandic businessmen who are bringing world-famous IKEA department store in Lithuania have decided to expand the business also to Estonia and Latvia, writes Äripäev.COMMENTS (15)
In spite of small market size and ongoing crisis in Europe, developers in Tallinn are racing to announce plans of new shopping malls, writes Äripäev.COMMENTS (21)
Kalev Lillo, MP for Reform Party caused an uproar among businessmen last week when he said that the Estonian state should not support exporters who trade with Russia, writes Äripäev.COMMENTS (11)
Äripäev has named Rain Lõhmus, the owner of LHV Bank, businessman of the year 2011.COMMENTS (3)
Sonny Aswani, a businessman from Singapore who has been doing business in Estonia for 18 years said in an interview to Äripäev that Estonia is likely to win from the current eurozone crisis since it forces more Scandinavian businesses to transfer their jobs to Estonia.COMMENTS (9)
One of Estonia’s most respected businessmen, Indrek Neivelt said in his speech held in the Estonian parliament yesterday that the current crisis is endemic since the decision-makers have underestimated its gravity and made an effort to keep the system running at any cost.COMMENTS (4)
“Rumours made about Swedbank are false and absurd. All banking operations are functioning. We urge people not to fall victim to rumours and assess them critically,” said Swedbank in a tweeted statement made Sunday evening. COMMENTS (19)
Second largest bank in Estonia, SEB, said yesterday that it has lowered annual economic growth forecast of Baltic economies for 2012 from 3.7% to 2.5%.COMMENTS (15)
Ex-finance minister Mart Opmann shares an investment firm with an Estonian real estate businessman Swen Uusjärv in the company SwizzBankers that is looking for investors capable of investing between 30,000 and 250,000 euros for one to three years at an annual return of between 12 and 25%.COMMENTS (7)
Both Port of Tallinn current management board members Ain Kaljurand and Allan Kiil managed to keep their jobs for the next period despite of rumors that junior coalition partner IRL was attempting to replace Kiil with one of its own, writes Äripäev.COMMENTS (4)
Supervisory board of Estonian central bank Eesti Pank elected Ardo Hansson, a Harvard-educated economist at the World Bank, as a successor to current governor Andres Lipstok who is due to step down next summer.COMMENTS (5)
Jan Kotka, CEO of Elcoteq Tallinn, said today that the bankruptcy of parent company Elcoteq SE may mean that the Tallinn assembly plant may be sold.COMMENTS (13)
Late on 23 August, the Latvian government agreed to give the Latvian national carrier airBaltic some of its badly-needed cash, reports news2biz.com COMMENTS (19)
By flash estimates, Estonian gross domestic product increased by 8.4% in the 2nd quarter of 2011 compared to the same quarter of the previous year.COMMENTS (28)
Freshly inaugurated Latvian President Andris Berzins is meeting with Estonian President Toomas Hendrik Ilves during his first official state visit.COMMENTS (8)
Russian billionaire Vladimir Antonov says that if he manages to buy the Swedish car maker SAAB, he may transfer production to Latvia. COMMENTS (37)
Tero Taskila, the new president and CEO of Estonian Air, believes that the Estonian national carrier Estonian Air muyst grow if it wants to survive, writes ERR.COMMENTS (13)
Andris Berzins, representative of Union of Greens and Farmers, has been elected the new president of Latvia. COMMENTS (11)
Estonian central bank has bought an armoured car Gurkha Tactical that costs more than 140,000 euros, writes Eesti Päevaleht.COMMENTS (10)
Estonian businessman Hillar Teder who owns part of a Russian supermarket chain O’Key and has several real estate projects underway in Ukraine may soon become the first Estonian to make it into the Forbes list of billionaires, writes Äripäev.COMMENTS (6)
The increasing number of Russian tourists visiting Estonia is helping local hotels to survive and create hope that they will be able to start increasing prices one day, writes Eesti Päevaleht.COMMENTS (25)
Investment banker Joakim Helenius may soon find himself owner of Estonia’s largest dairy farm Väätsa Agro that owes millions to Swedbank. Instead of restructuring the ailing agribusiness, the bank is seeking to declare it bankrupt.COMMENTS (2)
