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News

30.01.2012 Parliament Committee Passes EU Fiscal Treaty

ERR - Parliament's committee on European affairs approved the European Union's new fiscal treaty draft, which would instate more stringent penalties for violations of budget deficit and public debt ceilings.

25.01.2012 E-Business Registry Launches English-Language Version

ERR - The e-Business Registry began keeping English-language records of company profiles as of this month.

24.01.2012 Consumer Confidence Improves, Remains Below Average

ERR - Consumer confidence improved in January compared to the previous month but is still below the long-term average, the Institute of Economic Research reported.

20.01.2012 Tallinn Tech Students Visit Silicon Valley

ERR - Tallinn University of Technology is sending three students on a week-long trip to Silicon Valley in April, to help develop a new technological concept.

19.01.2012 Paet Joins Finnish Minister for Indonesia Visit

ERR - Foreign Minister Urmas Paet of Estonia and Minister for European Affairs and Foreign Trade Alexander Stubb of Finland will join forces to cut a new export path to Indonesia on January 23 to 26.

13.01.2012 Nation Holds Stable in Competitiveness Rankings

ERR - Estonia improved its ranking in the World Economic Forum's international competitiveness index, published on Thursday.

10.01.2012 Number of Tax Debtors Drops 15% in 2011

ERR - The number of tax debtors had shrunk to 50,300 by the close of 2011, a 15 percent decline from the beginning of the year, according to the Tax and Customs Board.

09.01.2012 Economists Ponder Reasons for Higher Cost of Capital for Companies

ERR - Despite many sound economic indicators, the cost of credit for companies in Estonia appears to be higher than in many other countries. Some experts question the statistical methods while others say it is due to the ownership structure of banks.

05.01.2012 Nordic Interest in Estonia Growing

ERR - SEB Estonia Bank Manager Riho Unt said yesterday that, in the last quarter of 2011, there were 30% more Nordic company bank accounts opened in SEB as compared to the same quarter previous year.

05.01.2012 Ligi: Euro's Impact on Prices Not Greater Than 0.3%

ERR - The Minister of Finance stressed at a Cabinet press conference today that last year’s sharp inflation in Estonia should not be tied to the euro changeover.

30.12.2011 Bank of Estonia Budget Nearly 20 Million Euros

ERR - The Bank of Estonia's budget for 2012 is 13.8 percent larger than it was this year, mainly due to increased expenses related to cash.

30.12.2011 Retailer: Christmas Shoppers More Miserly Than in 2008

ERR - Though Estonian retailers generally prospered this Christmas sales period, the average value of their purchases on a per-day basis was less than it was three years ago, according to the director of the Prisma Peremarket chain.

28.12.2011 Tallinn-Taipei Research Axis Aims for Zenith

28.12.2011 Loans Getting Pricier, Says Bank of Estonia

23.12.2011 Estonia's Resilience to Crisis Now Better Than in 2008

21.12.2011 Edward Lucas: Welcome to the Moral High Ground. What Next?

21.12.2011 Ligi: Prepare for Possible Slump in Export

19.12.2011 61% of GDP Generated in Capital Region

ERR - Highlighting the lingering economic contrasts between Tallinn and the rest of the country, new figures from Statistics Estonia show that in 2009, as much as 61 percent of Estonia's GDP was generated in Harju County, where the capital is located.

19.12.2011 Companies, Population Showing Fiscal Restraint, Says Central Bank

ERR - According to the Bank of Estonia, the debt burden of companies and households has decreased significantly this year.

16.12.2011 Estonian American Innovation Award Goes to GrabCad

ERR - US Ambassador Michael C. Polt and Speaker of Parliament Ene Ergma announced the winner of the first Estonian American Innovation Award at a ceremony today.

16.12.2011 Survey: Crisis-Hit Estonians to Spend Less on Christmas

ERR - It may not exactly be the Grinch that stole Christmas, but the economic situation is expected to have an impact on Estonian spending habits this season - two thirds of the population is planning to splash out less on the holiday this year than last, a survey by Danske Bank has found.

15.12.2011 Economic Growth Predictions Waning

ERR - Ernst & Young (E&Y), an auditing company, downgraded Estonia's economic growth predictions for next year, citing declining exports resulting from the Eurozone debt crisis.

15.12.2011 Unions, Employers Shake Hands on Minimum Pay Deal

ERR - Trade unions and employers came to an unwritten agreement to raise next year's minimum monthly salary to 290 euros, up from the current 278-euro mark established in 2008.

15.12.2011 Central Bank Lowers Economic Forecast

ERR - The central bank has changed its forecast for growth next year to just 1.9 percent and now says it is not ruled out that Estonia could join the continent in a downturn.

14.12.2011 Per Capita GDP Lands Estonia 22nd in EU

ERR - Last year’s per capita gross domestic product of Estonia amounted to 64 percent of the EU average, placing the nation on the 22nd position among the 27 member states.

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