News
15.08.2011 The Board of the Estonian Chamber of Commerce and Industry awarded the medal of honour of I class to the President of the Association of Lithuanian Chambers, Industry and Crafts
With the decision of the Board of dated 1 August 2011 the Estonian Chamber of Commerce and Industry awarded to the medal of honour of I class to the President of the Association of Lithuanian Chambers, Industry and Crafts, Dr. Rimantas Stankevićius for special services in promoting commerce between Estonia and Lithuania, and facilitating development of the chambers of commerce.
09.08.2011 Estonia’s Rating Raised to AA- by S&P on Growth, Finances
Bloomberg Businessweek - Estonia’s credit rating, upgraded by Fitch Ratings last month, was raised by Standard & Poor’s Ratings on the Baltic country’s strong economic growth and solid public finances.
09.08.2011 Poll: Estonians 2nd Most Optimistic on EU Recovery
ERR - Estonians show the second most positive attitude in the EU regarding the bloc's economic prospects, with 64 percent of people believing that the crisis has passed its peak and will no longer influence the labor market, a recent survey by Eurobarometer reveals.
09.08.2011 4 Solutions to European Debt Crisis
ERR - According to financial expert Indrek Neivelt, the common European currency requires much more than the economic and monetary union can offer today. In order for the currency to survive, the union should move towards centralization of power, from having a common financial minister and bonds to adopting a common taxation policy.
09.08.2011 Student Company Lands Among Top 5 in Europe
ERR - SOCKme, a company that's made up of five Tallinn high-schoolers and manufactures trendy mobile phone holders, has been named one of Europe's top five student companies at a Junior Achievement competition in Norway.
03.08.2011 Young Coders Finish 3rd in Thailand Informatics Tournament
ERR - A crack team of budding computer scientists returned from Thailand with a bronze medal at a tournament held there.
03.08.2011 Lithuanian, Latvian Inflation Catches Up to Estonia
ERR - In the last decade, Latvia has seen the highest and Lithuania the lowest inflation in the Baltic states. Estonia has gone through the sharpest price hikes of late, but the others have begun to catch up.
28.07.2011 Central Bank Governor: Threat of Contagion Contained for Now
ERR - Bank of Estonia Governor Andres Lipstok has warned that the recent decision to restructure Greece's debt must be a one-time case.
27.07.2011 GoSwift – an electronic border crossing line for vehicles at the road border posts between Estonia and Russia
On 1 August 2011, the order for crossing the border between Estonia and Russia will change. From then on, all motor vehicles heading towards Russia must book a place in an electronic waiting line for crossing the border. The GoSwift system will help you cross the border comfortably and with no excess waiting.
26.07.2011 Renewable Energy Production Drops 10% in Q2
ERR - In the second quarter of 2011, around 10 percent less renewable energy was produced in Estonia, compared to the same period last year.
26.07.2011 Estonia Dodges Eurozone Industrial Slowdown
ERR - Although the Purchasing Managers Index fell to 50.8 in July - its lowest in two years - analysts and business owners aren't worried yet that the slowdown of the Eurozone's industrial production is a threat to the Estonian economy.
22.07.2011 Changes to Labor Law Point Up Deficit of Specialists
ERR - Changes based on EU law entered into force on July 20 that make employing foreigners illegally a crime, not just a misdemeanor. But employers say that rather than being tempted to hire unskilled workers for cheap, their problem is actually bringing qualified foreign specialists to Estonia.
22.07.2011 Estonia Gets Pat on Back from IMF
ERR - John Lipsky, First Deputy Managing Director of the IMF, has praised Estonia's fiscal policy after a meeting with Prime Minister Andrus Ansip in Washington on July 21.
21.07.2011 Germany admires Estonia’s ability to cope with Euro
BBN - As Europe faces difficulties with debts and Euro, more and more countries are under surveillance by rating agencies. The euro-stars in Tallinn, however, have no debts and they receive better ratings, writes German newspaper Süddeutsche Zeitung.
21.07.2011 Construction Sees Q2 Price Bump
ERR - The nation's construction price index rose 1.5 percent between the first and second quarter of this year, and was up 3.2 percent compared to the same quarter of last year, according to the latest figures from Statistics Estonia.
20.07.2011 Export Success, Economic Growth May Hinge on Fate of Southern Europe
ERR - Estonian economy is showing signs of recovery and its export growth is the highest in the EU, which seems an anomaly considering the spate of recent dismal financial news from both sides of the Atlantic. One investment firm says it is too early to celebrate and that Estonia's future performance depends largely on Greece and Italy.
18.07.2011 Registered Unemployment Dips Below 8%
ERR - The number of people registered as jobless in Estonia has dropped below the 8 percent threshold, reaching a new post-crisis low.
18.07.2011 Bank Groups in Estonia Pass Stress Tests
ERR - All of the banks operating in Estonia that took the stress test passed with flying colors, according to the European Banking Authority's results published on July 15.
15.07.2011 Estonian Exceptionalism
The Economist - A rare bit of good news from a euro-zone economy.
15.07.2011 Ligi Prepared to Bail Out Banks in Worst-Case Scenario
ERR - Finance Minister Jürgen Ligi says Estonia is prepared to support banks that may find themselves in difficulty after stress test results are released later this week.
15.07.2011 Bank Analyst Offers Doom and Gloom for Eurozone
ERR - Colorful SEB Bank economist Hardo Pajula says it is likely that the euro will split into two currencies, one for the north and another for the south.
13.07.2011 Government Coaxes Drivers to Buy Electric Cars
ERR - As of July 11, car owners, be they individuals or businesses, can receive subsidies of up to 50 percent on their purchase of a new electric car, the Ministry of Economic Affairs announced.
11.07.2011 Trade Deficit Narrows on Shrinking Imports
ERR - In May, the country registered its lowest trade deficit of the year thanks to continued growth in exports and a slight drop in imports, new figures from Statistics Estonia show.
11.07.2011 Capital's Spending Narrowly Surpasses Revenue
ERR - In the first six months of the year, Tallinn coffers brought in 220.7 million euros in revenue, at the same time spending 221 million euros.
08.07.2011 European Parliament Approves Tallinn-Based IT Agency
ERR - The European Parliament confirmed on July 5 the creation of an agency for managing Schengen area IT systems that will be based in Tallinn.
