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Estonian economy expanded 3.1% annual in Q2 on industry

The gross domestic product (GDP) of Estonia increased by 3.1% in the 2nd quarter of 2010 compared to the same quarter in the previous year, according to the first estimates of Statistics Estonia.

PM condemns employers' manifesto

Prime minister Andrus Ansip used strong words in describing the recommendations of the Employers' Confederation. Employers say the PM is opposing it because of elections.COMMENTS (9)

Tallink carried 5% more passengers

Estonian listed ferry group Tallink said that it carried 2.83 million passengers in the fourth quarter or more than 5% than a year earlier.

Trichet praises Estonia's eurozone preparations

Jean-Claude Trichet , president of the European Central Bank, said yesterday in Frankfurt that preparations for Estonia's accession into the eurozone were on track, writes Äripäev.COMMENTS (9)

::Photo: : Arhitektuuribüroo Pluss

Estonians to design Marriott Hotel in Riga

Two Estonian architects Indrek Allmann and Joel Kopli have won an international architectural contest for designing Mariott Hotel Riga.COMMENTS (25)

Estonia, Latvia poor
in youth unemployment

Estonia has EU's third-highest unemployment among people younger than 25 years of age with 37.5% unemployed. Latvia was second-worst with 39% based on the second quarter.COMMENTS (13)

New owner: Kalvi will remain open

Yevgeni Bolshakov of Belitex Invest that now owns Kalvi Manor House said that claims that Kalvi will be closed for the public were untrue.

Tarmo Kriis (left), Enn Veskimägi::Photo: : ÄP

Employers draw
criticism

A list of proposals to the state that the Estonian Employers' Confederation unveiled yesterday have already drawn criticism from most parliamentary parties and trade unions, writes aripaev.ee.COMMENTS (7)

Estonian ports handled record volume of cargo

Estonian ports handled 3.9 million tons of cargo in July that is 13% more than a year earlier. This has come as a surprise also for many in the logistics business.COMMENTS (3)

Estonian wages up 1.2% a year

Estonian average monthly gross wages rose an annual 1.2 percent in the second quarter to 12,869 kroons (822 euros), Statistics Estonia said today.COMMENTS (12)

Aivar Rehe::Photo: : ÄP

Estonia under pressure to curb unemployment

International business community expects Estonia to quickly bring its unemployment down to below 10%, says Aivar Rehe, CEO of Sampo Pank in Estonia.COMMENTS (8)

Authorities: huge differences in taxi tariffs in Tallinn

A price survey conducted in August by consumer protection authorities found major variations in taxi tariffs in Tallinn.COMMENTS (17)

IMF: Baltic states have turned corner on crisis

Economic crisis in the Baltic states has begun to ease, IMF said.COMMENTS (8)

FinMin upbeat
in new outlook

The Estonian economy will grow 2% this year, according to the latest forecast released by the ministry of finance today.COMMENTS (14)

Hanschmidt: nothing wrong with business ethics in Estonia

Ain Hanschmidt says that Estonian businessmen have good business ethics. COMMENTS (19)

Lipstok wants sanctions

There must be stricter fiscal rules in the euro region and sanctions for failing to implement them to prevent future crises, says Estonia’s central bank governor Andres Lipstok.COMMENTS (20)

Developer: it's like pre-boom times again

Mart Saa, board member of Estonia's largest real estate developer Arco Vara, says that the demand for housing has reached pre-boom times four years ago. COMMENTS (15)

Baltics way behind Finland in quality of life

In a Newsweek ranking of living conditions, Estonia was 32nd, Lithuania was 34th and Latvia was 36th. Finland was on top.COMMENTS (82)

Report: Tallinn cheapest among Baltic capitals for families

Tallinn has emerged as the cheapest place for a family among the three Baltic capitals, according a the Diena daily that compared the cost of living in Tallinn, Riga and Vilnius. According to the survey, family life in Tallinn is slightly cheaper than in Riga, while Vilnius is slightly more expensive, wrote The Baltic Course with reference to LETA. 

Estonia ranked 2nd by shadow economy

Estonia has one of the largest shadow economies, according to a survey by economist Friedrich Schneider from Austria's University of Linz that covered 37 countries. COMMENTS (23)

Estonian second-quarter GDP up
3.5% year on year

In the second quarter the Estonian economy resumed annual growth after two and half years. According to the flash estimate of Statistics Estonia, GDP rose 3.5 percent from the second quarter of 2009, compared with a contraction of 2 percent in the first three months of this year. COMMENTS (17)

FT: Estonia’s recovery defies economists

Estonia that in July formally received confirmation from the EU that it will be admitted to the eurozone at the beginning of next year is stubbornly failing to comply with the predictions of currency crises, is already seeing a resumption of growth and a fall in its real cost of capital, John Dizard writes in today's FT.com. COMMENTS (128)

Big Mac index:
Baltic currencies
25-30% undervalued

According to a new Big Mac index published by The Economist this week, the Estonian kroon is 30% undervalued against the US dollar. A year earlier the kroon was 20% undervalued.COMMENTS (19)

Estonia may grow 3.6% in average in next decade

Estonian economy may grow 3.6% on average next year through 2020 thanks to a favorable business environment, the Economist Intelligence Unit said.COMMENTS (27)

Latest news
16:00Opposition walks out from reading of draft budget for Tallinn
14:59Swedbank: real estate market shows signs of life(7)
13:59Estonia's second-quarter current-account surplus widened
13:30Latvian consumer prices fell 0.3% in August on domestic demand
12:00Tax revenue collection in Estonia more successful than last year
11:51Estonian economy expanded 3.1% annual on industry in Q2
11:00Households may have to pay 25% more for power from 2013
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