Economy

Health Board critical of stores advertising 'Black Friday' sales

24.11.20 NEWS ... The Health Board has said it is ready to fine businesses advertising "Black Friday" (Must Reede) sales taking place in their stores rather than online. The agency believes they are acting irresponsibly.

Diesel price rises above one euro per liter

24.11.20 NEWS ... Diesel prices in Estonia have risen above the one-euro-per-liter mark for the first time since spring.

Prices of electricity packages vary from seller to seller

24.11.20 NEWS ... Seven sellers offer electricity to consumers across Estonia. According to data from Go OÜ, the operator of comparing websites Elektrihind.ee and Gaasihind.ee, the price difference between the most expensive and cheapest package is €26 for variable packages and €62 for fixed packages.

Maintenance to cause possible disruptions of Smart-ID, Mobile-ID

23.11.20 NEWS ... SK ID Solutions said on Monday that it will be performing scheduled maintenance on its IT infrastructure on the night between November 26 and 27, as a result of which there might be disruptions in services.

Finland orders Helsinki-Tallinn ferry link maintained

22.11.20 NEWS ... Finnish transport authority Traficom has decided to order the Helsinki-Tallinn ferry connection maintained to curb coronavirus damages. The procurement went the way of Tallink and Viking Line.

CEO: Nordica's loss should remain under €20 million

21.11.20 NEWS ... State-owned airline Nordica made a loss of €3.8 million in 2019. The company's 2020 loss will amount to roughly €20 million, CEO Erki Urva said.

Finnish government to loan Tallink €100 million

19.11.20 NEWS ... Finland is to provide a €100-million loan to the Finnish subsidiary of Estonian shipping line Tallink.

Tallinn pub bans MPs, to highlight effects of COVID-19 restrictions

19.11.20 NEWS ... Government coronavirus restrictions have hit Tallinn's pubs, bars, cafes, restaurants and hotels hard, but one such establishment in the heart of the Old Town has issued a restriction of its own, in barring Riigikogu MPs service.

State budget bill passes second reading

19.11.20 NEWS ... The 2021 state budget bill passed its second reading at the Riigikogu Thursday evening.

Rail Baltic Ülemiste terminal work starts next year, ends 2025

18.11.20 NEWS ... The time-frame for the planned high speed Rail Baltic terminal in the Estonian capital has been announced, with work starting next year with the goal of completion by the end of 2025.

Erik Laidvee stepping down as Eesti Raudtee CEO

18.11.20 NEWS ... Erik Laidvee is to step down as chair of state-owned rail firm Eesti Raudtee at year end. The decision was partly influenced by a change in direction from the company's hierarchy, it is reported.

Close to 10,000 people apply for second pillar pension payment hiatus

17.11.20 NEWS ... 9,575 people applied for a temporary suspension of second pillar pension payments in October. The suspension period would run from December to September 2021.

Supermarkets were better prepared for second wave of COVID-19

17.11.20 NEWS ... Representatives of supermarket chains confirm that they were better prepared for the second wave of COVID-19 when it comes to disinfectants and personal protective equipment (PPE). At the same time, people are more relaxed and do not hoard provisions as they did in spring.

Eesti Raudtee freight transport down 16 percent January-October

16.11.20 NEWS ... Freight transported on state-owned Eesti Raudtee tracks fell by 16 percent on year for the period January-October 2020. Passenger volumes fell by over a quarter over the same period.

Foresight Center: Estonian economy vulnerable in COVID-19 second wave

15.11.20 NEWS ... The information technology and communications sector was the least hit by the first wave of the coronavirus in spring, while accommodation providers, caterers and travel agents found themselves in the most difficult situation. This means Estonia is entering the second wave in a vulnerable position, a report by the Riigikogu Foresight Center concludes.

Tallinn preparing for holiday season without Old Town Christmas market

15.11.20 NEWS ... Tallinn is making preparations for the holidays that will not include the traditional Town Hall Square Christmas market this year. Handicraft shops and restaurants are awaiting Estonians to visit the capital's Old Town as there is no hope of tourists this year.

Tallinn tram procurement postponed

15.11.20 NEWS ... While the Tallinn City Transport Company (TLT) first started looking for eight new trams a year ago, manufacturers have asked for a continuance and the winner of the tender will be declared in 2021.

Online shop orders soar in a repeat of spring coronavirus effects

15.11.20 NEWS ... Even though supermarkets remain open and people still go grocery shopping, e-commerce orders have returned to the spring emergency situation level.

Health Board renews COVID-19 testing contract, valued at €100 million

14.11.20 NEWS ... The Health Board (Terviseamet) has concluded a potential €100-million contract for coronavirus testing through to year-end.

Unemployment rises by nearly 5,000 persons in the third quarter

13.11.20 NEWS ... In the third quarter of 2020, there were 54,300 unemployed persons in Estonia, which is 4,900 more than in the second quarter of the year, data from Statistics Estonia shows.

Shipping line Eckerö adds Muuga-Vuosaari early morning departure

12.11.20 NEWS ... Finnish shipping line Eckerö has added an extra, early morning service, using its MS Finbo Cargo ferry and plying the route between Muuga, east of Tallinn, and Vuosaari, near Helsinki.

Four Harju County post offices reduce opening hours due to staff shortages

11.11.20 NEWS ... Four post offices in Tallinn and Harju County will temporarily close or shorten their opening hours this month as they cannot find replacements for infected or quarantined employees.

Police detain three persons with ties to savings and loan association Erial

11.11.20 NEWS ... Three persons associated with savings and loan association Erial were detained on Tuesday and stand suspected of investment fraud and embezzlement. Erial's founder is also suspected of bribing a Police and Border Guard Board (PPA) internal control bureau employee.

Riigikogu committee sends 2021 state budget bill to second reading

10.11.20 NEWS ... The finance committee of the Estonian parliament at a sitting on Tuesday voted on the amendments submitted to next year's state budget and agreed to send the draft to the second reading at a plenary sitting on November 18.

Tallinn earmarks €86 million for public transport costs, development

10.11.20 NEWS ... Tallinn will set aside €86 million for the running and development costs of public transport in 2021 which include the purchase of 100 new gas powered buses. By the end of next year, half of the city's public transport will be carbon dioxide free.

Telia rolling out 5G services in select regions of Estonia

10.11.20 NEWS ... Mobile operator Telia opened its 5G network on Tuesday, in a first phase covering Estonia's three largest towns, Tallinn, Tartu and Pärnu.

SEB: Growth in exports of goods of Estonian origin was surprising

09.11.20 NEWS ... The 15 percent growth registered in September in the exports of goods of Estonian origin definitely was surprising, Mihkel Nestor, economic analyst at SEB, said on Monday.

Auditor: Public services outside Harju, Tartu counties need restructuring

09.11.20 NEWS ... The provision of primary public services outside Harju and Tartu counties needs restructuring due to growing labor shortages, Auditor General Janar Holm has said in the annual report of the National Audit Office.

Võru, Russia's Pskov launch creative enterprise cooperation project

09.11.20 NEWS ... The southeastern Estonian county town Võru and the Russian regional capital Pskov on Thursday kicked off an international project in creative industry called "BestNest," which aims to improve the competitiveness of the two cities and increase the entrepreneurial experience and know-how of artisans and people active in the creative industry.

Statistics: September export turnover peak for year so far

09.11.20 NEWS ... Exports of goods increased by 11, while and imports fell by 4 percent, on year to September 2020, state agency Statistics Estonia reports.

Ainar Ruussaar named new Raadio Kuku editor-in-chief

08.11.20 NEWS ... Ainar Ruusaar has been appointed editor-in-chief of Raadio Kuku, one of the largest commercial radio stations in Estonia and operated by the Postimees Group.

Bank of Estonia: Deflation to continue for rest of this year

07.11.20 NEWS ... Deflation in Estonia is set to continue into 2021, only to be replaced by inflation, the central bank says.

Rain Epler confirmed as new environment minister

07.11.20 NEWS ... The Conservative People's Party of Estonia (EKRE) has confirmed businessman Rain Epler as new environment minister, replacing Rene Kokk, whose last day in office also happens to be Saturday.

Statistics: New car sales fall 25.4 percent on year to October

06.11.20 NEWS ... Sales of new cars in Estonia were down 25.4 percent on year to October, the national car dealers and service companies association AMTEL said Friday.

5,400 people joined voluntary third pension pillar in October

06.11.20 NEWS ... Since October 20, when President Kersti Kaljulaid signed the controversial pension reform bill into law, 5,400 people joined the voluntary third pension pillar. People joining the voluntary pillar starting next year will be exempt from favourable withdrawal rates.

State to establish work group for long-haul potential nuclear energy plans

06.11.20 NEWS ... The government is to set up a national nuclear energy work group, which will analyse options for introducing nuclear power.

Swedbank ex-CEO: We did not knowingly launder money

06.11.20 NEWS ... Former Swedbank Baltic CEO Priit Perens told daily Eesti Päevaleht (EPL) in an interview that he and his colleagues never consciously laundered money, and that the heads of Estonian banks did not foresee changes in regulations and society.

Mardilaat craft fair to go online this year, starting Friday

06.11.20 NEWS ... This year's Mardilaat craft fairs is to move online due to coronavirus considerations, ETV news show "Aktuaalne kaamera" (AK) reports. The fair starts Friday and runs until Sunday.

Government green-lights start of long-term population cohesion plan

06.11.20 NEWS ... A proposal from minister of population affairs Riina Solman (Isamaa) and culture minister Tõnis Lukas (Isamaa) to start work on a population and society plan has been discussed and approved at cabinet level.

Statistics: Consumer price index fell by 0.5 percent in October

06.11.20 NEWS ... According to Statistics Estonia (Statistikaamet), the consumer price index for October was down 0.5 percent compared to September and down 1.5 percent compared to October last year.

Statistics: Tourism falls by half on year to September

06.11.20 NEWS ... Tourism fell by nearly a half on year to September, state agency Statistics Estonia reports.

First 'week of flavors' to highlight South Estonian wild food

05.11.20 NEWS ... Starting on Thursday (November 5), the first "From Forest to Table" week of flavors will take place across six counties in Southern Estonia showcasing wild food experiences and local produce.

Estonian startups increase revenue, pay record amount of labor taxes in Q3

05.11.20 NEWS ... The revenue of Estonian startups totaled €562 million in the third quarter of 2020, growing by 41 percent year-on-year, while employment tax payment increased by 30 percent, reaching €73 million.

Regulator: Latvia, Estonia cannot currently import Russian electricity

05.11.20 NEWS ... Latvia and Estonia cannot start electricity trade via their interconnections with Russia based on a new trilateral Baltic methodology until it has been approved by all three market regulators, Lithuania's National Energy Regulatory Council (VERT) said on Wednesday. But this is disputed by Estonia's Elering.

Magnetic MRO looking for bright spots in coronavirus crisis

05.11.20 NEWS ... Estonian aircraft maintenance company Magnetic MRO took the opportunity last week to join Prime Minister Jüri Ratas' (Center) official visit to France, meeting with President Emmanuel Macron, as it hunts for opportunities in a sector ravaged by the coronavirus pandemic.

Tallinn city budget stands at €861.5 million for 2021

05.11.20 NEWS ... Tallinn City Government's draft 2021 budget stands at €861.5 million, a 4.6 percent rise on this year's budget.

Tallink Group reports €23.9 million Q3 2020 net losses

05.11.20 NEWS ... Tallink Group has today announced its unaudited financial results for the third quarter and first nine months of 2020, which confirm the group does not expect to make a profit in the full financial year in 2020.

Air traffic sector battling with lessened workload and incomes

05.11.20 NEWS ... Traveler numbers in Tallinn Airport for October were down to a tenth of what they were in 2019 with the number of flights from Estonia also down drastically, having reached a third of pre-crisis levels. In addition, air traffic services are set to lay off a quarter of their employees by year's end.

Radisson Blu Sky hotel to undergo repairs, laying off all employees

04.11.20 NEWS ... The Radisson Blu Sky hotel located in Tallinn's city center will be undergoing repairs over a period of a year and a half and laying off all employees, the Estonian daily Postimees writes.

Riigikogu committee chief: Farmers can get €12 million support

04.11.20 NEWS ... The Riigikogu's finance committee has agreed to a €12-million agricultural support package, the committee's chair, Aivar Kokk (Isamaa) says.
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