News
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.
08.07.2011 Economist Says Inflation Kept High by Conspiring Companies
ERR - Although most analysts still believe inflation should ease up in the latter half of the year, one economist thinks things could get worse due to stable economic growth, rising wages and a consumer boom - because of the nature of the Estonian market.
08.07.2011 Consumer Prices Remain Unchanged in June
ERR - Though the nation's consumer price index was up 4.9 percent in June compared to the same month of last year, the number flatlined compared to May's results, latest data from Statistics Estonia show.
07.07.2011 Economist Sounds a Sour Note Amid Growth Spurt
ERR - Estonian consumer confidence seems to have plateaued, mainly due to the inflation that just won't abate, according to a leading economist.
07.07.2011 State Seeks More Efficient Transit Link to Kazakhstan
ERR - A delegation from Kazakhstan is huddling with Estonian officials in a three-day meeting on ways to improve cooperation between the transit partners.
06.07.2011 Fitch Upgrades Estonia's Rating to A+
ERR - On July 5, the global credit rating agency Fitch Ratings upgraded Estonia's long-term foreign and local currency Issuer Default Ratings (IDR) from A to A+, and categorized its outlook at "stable."
04.07.2011 Industrial Production Growth Shifts into Lower Gear
ERR - The nation's industrial production was up by 26 percent in May compared to the same month of 2010, still impressive, but a slight drop from the 30 percent year-on-year growth rates seen over the previous eight months, new figures from Statistics Estonia show.
04.07.2011 Estonia's Unemployment Falls Fastest in EU
ERR - The 5 percent drop in unemployment that Estonia registered between the first quarter of 2010 and the first quarter of this year was the largest in the European Union, according to a July 1 report by Eurostat.
30.06.2011 Bank of Estonia: Loan Portfolios to Increase by 3%
ERR - The impressive, post-recession growth rate that the economy has seen over the last few quarters has yet to spark a similar jump in the credit market, according Jana Kask, head of the Bank of Estonia's financial sector policy subdivision.
30.06.2011 Retail Sales Still Ringing Up Growth
ERR - Fresh figures from Statistics Estonia show that retail sales totaled 330 million euros in May, a 2 percent increase compared to the same month of last year.
28.06.2011 Directive Requires Lenders to Provide More Transparent Information
ERR - Changes in the Law of Obligations Act stemming from an EU directive will make it easier for customers to compare loan offers from different banks.
27.06.2011 Enterprise Estonia Signs Deal with Major Japanese Bank
ERR - The nation's business development agency Enterprise Estonia has signed a cooperative agreement with Japan's Sumitomo Mitsui Banking Corporation (SMBC) aimed at promoting business between the two countries.
27.06.2011 Retailers: Estonian Consumers Still Cautious
ERR - While grocery stores saw a shopping rush before the long Midsummer Day weekend, retailers are still not doing that well, because the prices are rising steadily and the buyers remain cautious.
27.06.2011 New Project to Champion Estonia as Financial Services Hub
ERR - The long-discussed notion that Estonia could one day grow rich as a regional provider of financial services was given a boost on June 20 with the launch of FinanceEstonia, a new project started by several major players in the country's investment realm.
27.06.2011 Study: Estonian IT sector needs at least 6,500 new specialists in three years
BBN - A new study made by the Estonian Information and Telecommunication Association ITL shows that Estonia needs at least 6,500 new IT specialists in the next three years.
20.06.2011 Real Income Continues to Fall
ERR - Real income, which is adjusted for inflation and determines purchasing power, fell for the second year in a row, albeit at a slower tempo.
20.06.2011 Exports up 60%, imports grow 68% in April
BBN - According to Statistics Estonia, in April 2011, the exports of goods from Estonia amounted to 1.1 billion euros and imports to Estonia to 1.2 billion euros at current prices.
09.06.2011 Trade Figures Remain in Record Territory
ERR - New figures from Statistics Estonia show that April exports and imports totaled 1.1 billion euros and 1.2 billion euros respectively, edging a tiny fraction over the record levels they reached in March.
09.06.2011 Cyber Conference to Open in Tallinn
ERR - Tallinn will host a major conference this week devoted to the new national niche industry, cyber security.
09.06.2011 OECD Raises Economic Growth Forecast to 5.9%
ERR - In its Economic Outlook report, released May 25, the Organization for Economic Cooperation and Development (OECD) raised its forecasts of Estonia's economic growth to 5.9 percent in 2011 and 4.7 percent in 2012.
18.05.2011 Estonian Development Fund to invest in developer of infectious disease test kits
BNS – The Estonian Development Fund has announced an investment into the company Selfdiagnostics, which aims to develop a new pathogen-specific medical diagnostic test for domestic use.
17.05.2011 Webmedia Buys Finnish Software Firm CCC
ERR - Estonia's largest software developer, Webmedia Group, announced on May 16 that it has bought a 97 percent stake in the Finnish software company CCC.
17.05.2011 Swedbank’s real estate arm puts 85 apartments on sale
BBN.EE - Ektornet, the real estate management company of Swedbank, has put on sale 85 apartments in the so-called smart home at Juurdeveo street in Tallinn that it took over in a bankruptcy proceeding.
