Estonian gaming operator Olympic Entertainment Group (OEG) announced that it has entered into an agreement to sell to investment firm East Capital its subsidiary that owns the hotel and entertainment complex that houses the Hilton Tallinn Park hotel and OEG's flagship Olympic Park Casino.
Aripaev writes that Estonian-owned GoGroup which had a very strong year in 2015 recently underwent major changes in its ownership when the former majority shareholder Marcel Vichmann stepped aside and Tiit Pruuli who had been a minority shareholders became the majority shareholder.
Aripaev writes that Estonian property investment firm EfTEN Kinnisvarafond II AS and KanAm Grund Kapitalverwaltungsgesellschaft mbH announced that EfTEN has acquired the Domina Shopping Center from KanAm.
Eesti Ekspress writes that it has received information from anonymous sources claiming that Allar Joks who is bidding to become Estonia's next president is too close to Estonian internal security service KAPO.
Eesti Paevaleht writes that although Kalle Palling, MP for Reform Party and chairman of the parliamentary European Union affairs committee, is undoubtedly qualified to become the next head of the European Commission in Estonia, his recent criticism of European Commission’s president may have cost him the job.
State-owned Port of Tallinn handled 10.7 million tons of freight in six months which is 11 percent less than a year earlier, announced the company.
Technomar & Adrem AS, a family owned dynamic company founded in 1991 and implementing the latest advancements in wood processing technology, is hiring a sales specialist on Oriental.
Nortal Group shareholders bought back 50% of Group shares from Enterprise Investors and LHV Pension Funds, regaining full ownership of the company. Simultaneously Nortal is expanding its shareholder base among employees.
Tallinn Bekker Port last week opened a new warehouse complex for bulk goods that includes a 6,000 square metre enclosure and 40,000 square metres of open-air storage area.
Aripaev writes in its editorial that the good news from last week was that the parliament adopted amendments which should make e-residency more accessible to foreigners.
Responding to claims made by Estonian alcohol producers and importers association, representatives of the government hint that retailers are too greedy and are driving up the price of strong alcohol.
Estonian state could lose tens of millions of euros because today Estonian trucking companies can save over a 100 euros per tank simply by filling up in Latvia and not in Estonia, according to the Estonian Confederation of Employers.
Aripaev writes in its editorial that it's ironic that at the time when the biggest worry for Estonians is whether the summer is sunny and does not distort Midsummer festivities, Europe is bracing itself for its biggest ever risk, ie Brexit.
Latvian airline airBaltic said it is the largest airline in Tallinn
Aripaev writes in its editorial that Nordica's announcement that it will report is financial results only next year is nothing else but another sign that the airline is already now doing poorly.
Lithuania again came out on top of Estonia and Latvia in the rankings of the 2015 World Competitiveness Yearbook of the Lausanne-based International Institute for Management Development (IMD).
Aripaev writes in its editorial that last week's big news in business was that Cherry Media, a big Estonian e-store that offered discounts, went bankrupt and has stopped operations in Estonia and abroad.
Estonian state airline Nordica said that it will publish its first comprehensive financial results in 2017 because it is still a “startup” and there is no obligation to report the results of the first few months.
According to Statistics Estonia, in Q1 the average monthly gross wages were 1,091 euros and the average hourly gross wages were 6.86 euros.
Aripaev writes in its editorial that the report of the National Audit Office that was unveiled this week which criticised the government for poor judgement with Estonian Air raises the question how is the new state airline Nordica any different.
Latvia's gross domestic product (GDP) growth in 2016 is projected at 2.7 percent and Lithuania's at 2.8 percent, while Estonia's GDP is forecast to grow only 2 percent, said SEB at the presentation of Nordic Outlook.
Commenting the report of the National Audit Office which claimed that the government rushed its decisions on national carrier Estonian Air, former PM and current vice president of the European Commission Andrus Ansip said that he is convinced that the government did the right thing at the time when it decided to aid Estonian Air.
Aripaev writes that the hope of the Estonian government is to collect more money into budget by increasing fuel excise duties is backfiring because more and more vehicle owners are filling up in Latvia.
Priit Perens, head of Baltic banking at Swedbank, says that whether we want it or not, but it's more likely that foreign banks operating in the Baltic states will leave the region, than new banks would open up.
Superbus, a low-cost bus operator owned by Scottish tycoon Brian Souter
Because of delays in the pilot training program of Nordica, Estonian national carrier, the airline has been forced to continue outsourcing the service.
It's notable that the two presidential hopefuls Siim Kallas and Marina Kaljurand were speakers at the pre-event for the opinion festival that was held in Narva on Saturday.
Immigration exceeds emigration in Estonia for first time since reindependence last year, reported Statistisc Estonia.
Katri Paas-Mohando, Senior Associate at Law Firm VARUL writes that
Raul Kirjanen, owner of Graanul Invest, writes in Aripaev that he wants to praise the government for not rushing to borrow cheaply.
Aripaev writes that more and more Latvians are choosing Estonia and in particular Southern Estonia as place of employment, mainly because of higher wages.
Aripaev writes in its editorial that Estonia should support the initiative of the Euroepan Commission on battling tax evasion.
Four illegal immigrants who claim to be from Guinea were recently released from the detention centre because the court-sanctioned 18-month term of preparing their deportation expired.
Aripaev writes that the proposals made by Justice Minister Urmas Reinsalu on amending the commercial code in a way that would ease requirements on e-residents may turn Estonia into another offshore country just like Panama.
Latvian airline airBaltic has launched a new route between Tallinn and Vilnius starting from April 18.
Siim Kallas did well in his opening speech on Saturday when he announced his intention to run for president, but failed to make it memorable.
Raul Toomsalu told Arileht that it is time to differentiate rail infrastructure usage fee, because it’s a thing of the past.
Aripaev writes that Finance Minister Sven Sester has drafted amendments that will change taxation of company cars.
Aripaev writes that Inna Ossinovskaja, wife of one of Estonia’s richest businessmen Oleg Ossinovski is not happy with the divorce settlement proposed by his husband and has gone to court.
Estonian and Swedish private capital is investing 12,5 million euros in health care, building an innovative medical and wellness centre at Veerenni Street in Tallinn.
Port of Tallinn served over 741,000 passengers in March which is 13.3 percent more than a year earlier.
Postimees wrote today that Estonian investment banker Kalle Norberg who some years ago managed the assets of some of Estonia’s wealthiest people, but is now bankrupt, is one of the Estonians whose name is featured in so-called Panama Papers.
With the help of Latvian colleagues, Estonian business paper Aripaev was able to access so-called PanamaPapers, ie leaked documents from Panama.
Aripaev writes with reference to several independent sources that Scandinavian banking giant Nordea Bank has decided to sell its Baltic branch and was looking for a buyer.
Estonian Civil Aviation Administration has suspended the air operator's certificate (AOC) of the bankrupt carrier Avies.
Estonian state airline Nordica has canceled all its flights between Tallinn and Brussels until April 15.
Aripaev writes that Estonian military company Threod Systems plans to enter the lucrative world of military drones.
Estonian state-owned airline Nordic Aviation Group yesterday officially adopted the Nordica trademark and a new visual brand identity, the focal point of which is the logo depicting a dragonfly.
Aripaev writes in its editorial that at the time when Latvians are working hard to make their economy grow faster, Estonia’s leaders are perfectly happy with what Estonia has achieved and see no need to change anything.
Aripaev writes that the actual costs that Estonia is spending on its e-residency poject and benefits are hard to estimated.
The Supervisory Board of Technopolis Ülemiste AS that is developing the Ülemiste City campus has decided to extend the term of office of the current Chairman of the Management Board Gert Jostov and member of the Management Board Martin Seppälä for another three years.
Political scientist Rein Taagepera writes in Eesti Paevaleht that Estonia could encourage immigration from Vietnam, but add conditions to it.
According to Statistics Estonia, in February 2016, industrial producer prices were 2.2 percent lower than in February 2015.
SORAINEN has been named the "European Law Firm of the Year" at The Lawyer European Awards
Estonian Prime Minister Taavi Rõivas will make an appearance in the popular The Daily Show during his US visit.
Aripaev writes that Estonian construction group Merko Ehitus announced yesterday that it has acquired majority holding in Nowegian construction company Peritus Entreprenor.
Aripaev writes that in the last year, Estonian entrepreneurs have bought out several foreign shareholders in their Estonian enterprises.
Attorney at law Leon Glikman writes in Aripaev that Estonian entrepreneurs are thankful for anything that makes business in Estonia more attractive, especially for investors.
Estonia’s former Finance Minister and current MP Maris Lauri (Reform Party), writes that the Estonian tax system does not need major changes.
EfTEN Real Estate Fund II announced today that it had acquired the shopping centre Magistral in Tallinn for 24 million euros.
Jaan Puusaag, prominent Estonian industrialist and owner of Krimelte, a major Estonian exporter of construction foam, says that the government should stop talking about Estonia having Europe’s lowest taxes and admit that it is impossible.
The long-time chief executive of Tallinn Airport, Rein Loik, has tendered his resignationand the supervisory board of the state-owned company will gather on February 29 toconsider it.
According to Statistics Estonia, in January 2016, the producer price index of industrial output changed was down 0.1% compared to January 2015.
While three years ago, 15 students from Bangladesh applied for a study place in Estonia, the figure last year was 79 and 56 were granted residence permits.
According to Statistics Estonia, 12.5% of people aged 15 to 29 did not work or study last year. Nearly a third of them were unemployed, and two thirds otherwise inactive.
Maaleht writes that according to Oliver Kruuda, owner of Tere dairy group, Tere’s current financial problems are caused by the unwillingness of financiers to extend loan repayment date for Tere.
ERR reports that the trade union representing pilots of regular flights ELA has gone to court seeking to overturn the decision to setup a bankruptcy estate for Estonian Air.
Adria Airways which operates flights for Estonia's national airline Nordic Aviation plans to open direct routes from Tallinn to Ukrainian cities Lviv and Ivano-Frankivsk.
Estonian state-owned airline Nordic Aviation is hiring pilots from abroad because Estonia’s own pilots find the terms and wages offered by airline insufficient.
Janek Mäggi, owner of a public relations agency, writes in Aripaev that one way to make sure that Estonia is successful is to make Estonians happier.
Postimees writes that tax authority’s server crashed on Sunday under the load from taxpayers checking their pre-filled tax reports for last year and submitting them so that they can apply for early refunding.
Prime Minister Taavi Roivas said in a radio interview that it is inevitable that manufacturers whose business models are based on low-cost labour are moving jobs away from Estonia.
In the fourth quarter of 2015, Estonian economy was bigger by 0.7 percent than in the same quarter of 2014, according to a flash estimate by Statistics Estonia.
Aripaev writes in its editorial that Finnish maker of automotive harnesses PKC Group announced that although its revenue increased 10% in a year and profit improved by half, the company has decided to close its plant in Estonia in a year.
Reaction to the news that PKC has decided to close manufacturing in Estonia, combined with the announcement that Estonia’s economy expanded 0.7 percent in the final quarter was divided.
Finnish manufacturer of cable harnesses PKC Oy announced yesterday that it will close its Estonian assembly plant PKC Eesti next year.
Estonian state owned airline Nordic Aviation announced this week that it will open a seasonal route to Odessa, Ukraine in collaboration with Adria Airways.
Anti-immigrationist national Conservative People's Party (EKRE) has caught up with the Social Democratic Party (SDE) and the Free Party in popularity, it appears from a poll taken for the public broadcaster ERR by Turu-uuringute AS made in January.`
According to Statistics Estonia, in January 2016, the change of the consumer price index was 0.6% lower than in January of the previous year.
The winter 2016 economic forecast of the European Commission says that the Estonian economy should grow 2.1 percent in 2016.
The government press conference held yesterday was proof that the two junior partners - IRL and SocDems – are almost at war with each other.
State-owned Estonian airline Nordic Aviation carried 17,267 passengers in January 2016.
There is reason to be worried about SMIT, the information technology and development centre of Interior Ministry that is one of the most powerful and secretive government agencies and controls all national security IT systems, investigative TV programme Pealtnägija (Eyewitness) reported yesterday.
Although Estonian political parties have not yet announced their candidates for the presidential elections that will start at the end of August, the main battle is likely to take place between Siim Kallas and Edgar Savisaar.
The number of crimes registered in Estonia fell to a record low level in 2015.
A poll made by the Estonian Employers’ Confederation shows that more than a third of entrepreneurs consider the government’s actions in recent months detrimental for the business climate.
Aripaev writes that head of the Estonian Tax Board Marek Helm made headlines yesterday when he said that the tax authority is considering the possibility of abolishing tax declarations in the future.
Aripaev writes that in spite of Estonia having about 100,000 corporate tax payers, 75 companies pay more than a third of taxes.