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.

14.12.2011 Expert: Discard 'North' Versus 'South' Split in EU Crisis Thinking

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.

12.12.2011 Swedbank Dismisses Instability Rumors After Bank Run

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 "The most recent European financial stress tests also show that Swedbank's stability and capitalization is strong."

12.12.2011 Trade With Russia Looks Up

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.

12.12.2011 Finance Ministry: EU Structural Funds to Estonia Soon to Be Restored

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.

09.12.2011 Rail Line Passes Necessary 'Baltic Cooperation' Stage

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.

09.12.2011 State Budget Drafted on 3 Percent Growth Scenario Passes

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.

09.12.2011 Business Community Unhappy with Cuts for Vocational Education

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.

07.12.2011 EC Accepts Lower Free Carbon Credit Level

ERR - The five-year-long dispute with the European Commission regarding allowable greenhouse gas credits has come to an end.

07.12.2011 Monthly Consumer Price Index Levels Out

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.

07.12.2011 Ligi: Populist S&P Underestimates Estonia

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.

06.12.2011 Shrinking Q3 Manufacturing Profit Drags Down Business Sector Growth

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.

06.12.2011 The growth in business sector 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.

06.12.2011 SEB lowers its Baltic growth forecast from 3.7% to 2.5%

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%.

06.12.2011 Estonia's Retail Growth Among Highest in EU

ERR - Retail trade volumes in Estonia showed the fourth highest annual growth in the EU, according to Eurostat.

05.12.2011 S&P Raises Grades for Swedbank, SEB

ERR - Credit-ratings company Standard & Poor's yesterday upgraded the ratings of two major Swedish banks dominating the Estonian market, Swedbank and SEB.

05.12.2011 Business Leaders: It's Time to Give Taxes a Rethink

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.

02.12.2011 TeamUp! Provides Would-Be Inventors with Expert Support

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.

02.12.2011 Oil Industry Causes R&D Spending Intensity to Surge

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.

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