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.
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.
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.
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.
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.
ERR - The watershed between two main interest groups in the European debt crisis does not so much run between the archetypical "North" and "South" as between those in favor of cutting costs and those who benefit from inflation, says banker and financial expert Indrek Neivelt.
ERR - Swedbank said claims circulating in Latvia, asserting that the bank is in financial trouble, are baseless."The bank's stability has been confirmed by financial supervision agencys in each of our markets," spokesman Mart Siilivask told uudised.err.ee. "The most recent European financial stress tests also show that Swedbank's stability and capitalization is strong."
ERR - In October, year-on-year exports of goods grew by 23 percent and imports by 26 percent at current prices. Growing trade with Russia was the main contributor to both trends, Statistics Estonia reported.
ERR - The Ministry of Finance is expecting the payment of the European Union’s structural funds to Estonia to be restored in the upcoming weeks.
ERR - The three Baltic ministers responsible for transport have signed a memorandum of intent to develop Rail Baltic, the high-speed railway project that could one day reconnect Tallinn with Warsaw.
ERR - The 2012 state budget was passed in Parliament today by a vote of 55-44, with a 2.1 percent deficit that will be covered from reserves.
ERR - The Chamber of Commerce and Industry has announced it opposes the government's plan for implementing the vocational education development plan because the Cabinet is not allocating enough funding for the programs.
ERR - The five-year-long dispute with the European Commission regarding allowable greenhouse gas credits has come to an end.
ERR - According to Statistics Estonia, growth of the consumer price index was 0.1 percent in November compared to October and 4.2 percent compared to a year ago.
ERR - Finance Minister Jürgen Ligi called out the Standard & Poor's rating agency for taking a populist approach when it yesterday promised - in the event that the euro debt crisis is not quelled - to downgrade credit ratings for basically the whole Eurozone.
ERR - Third quarter net sales, costs and total profit of businesses grew compared to the previous quarter as well as year on year, a fresh report by Statistics Estonia says. But the growth rate is slowing down.
BBN - According to Statistics Estonia, in the 3rd quarter of 2011, the net sales, costs and total profit of the business sector increased compared to the previous quarter as well as to the same quarter of the previous year. At the same time the continually improving comparison basis turns the growth rate slower.
BBN - 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%.
ERR - Retail trade volumes in Estonia showed the fourth highest annual growth in the EU, according to Eurostat.
ERR - Credit-ratings company Standard & Poor's yesterday upgraded the ratings of two major Swedish banks dominating the Estonian market, Swedbank and SEB.
ERR - Two prominent figures in Estonia's business circles have offered their suggestions for changes that, they say, would make the nation's tax structure better suit current economic conditions.
ERR - Got an idea lying around? Bring it in and let designers turn it into a prototype. That is the scheme behind the TeamUp! event being held on December 3 at the Tallinn University of Technology.
ERR - The ratio of Research and Development spending to GDP has reached new heights - 1.63 percent in 2010 compared to 1.43 percent the previous year.
ERR - According to a forecast released by Elering, next year the renewable energy fee - a component of the price of electricity - will be 0.97 cent per kilowatt hour as opposed to this year's 0.615 cent.
ERR - Minister of Agriculture Helir-Valdor Seeder said Latvian senior officials have expressed support to him for faster convergence of the EU's direct agricultural subsidies.