Hansabank Group to Apply to Delist From Tallinn Stock Exchange After May 30 Shareholder Meeting
TALLINN, (AP) -- Hansabank Group, the largest bank in the Baltic countries, said Wednesday it will apply to delist from the Tallinn Stock Exchange after its extraordinary shareholder meeting on May 30.
Swedish banking group Swedbank said in April its ownership in the Tallinn-based bank exceeded 99 percent, prompting the move.
The chief of Estonia’s national police force punished two senior officers in Tallinn for failing to ensure order and security on the eve of May 9 and prevent the vandalization of a World War II monument.
A disciplinary investigation carried out by ..............
Banks are quite eager to grant housing loans to their customers in Finland, but the market is even more busy on the other side of the Gulf of Finland - in Estonia and the other Baltic States. The four Estonian banks are battling fiercely for housing loan customers. The competition has led to a downward spiral in margins, which have now fallen below the Finnish level on average. In Finland, the average margin on a new housing loan is around 0.6 %, but in Estonia, margins have been cut to ................
*On Monday, 23 May, a Memorandum of Understanding between Sweden, Finland, Estonia and Norway concerning the forming of a EU battle group has been signed in the Council of the European Union in Brussels.
The Defence Ministers of Sweden, Finland, Estonia and Norway signed the Memorandum. Sweden will assume responsibility as the framework nation of the Nordic battle group.
"Considering the fact that Estonia is the only member of the battle group that is both a member of NATO and the European Union, our participation in a battle group with Sweden, Finland and Norway is a sign of strengthening of our partnerships with other nations," said Defence Minister Jaak Jõerüüt. He added that, "Estonia continuously believes that it is important for the EU’s common foreign policy to have a strong defence component, because that is the only way to protect values and principle’s of the European Security Strategy".
Estonia’s military contribution to the EU battle group will be up to 45 troops. In addition to a forces protection unit, Estonia will provide staff offices, medical and logistic personnel. Estonia is supportive to the perspective that this particular battle group will be ready for ................
Bank deposits grew by EEK 5.8 billion in April Deposits in banks grew by EEK 5.8 billion and reached up to EEK 74.6 billion in banks of Estonia. In earlier months, the growth has not surpassed the limit of EEK 3.1 billion. Äripäev
Amount of trips to Finland has increased drastically Estonians made 73 % trips to Finland more than in respective period last year. According to Finnish Statistics Department, number of visits of Estonians to Finland reached 383,000 in 2004, which is 155,000 trips more than in 2003. Amount of money that Estonians spend in Finland has also grown. Äripäev
Wednesday, 18th of May, 2005
International Herald Tribune : not enough real estate in Baltics It is only a matter of time, when international real estate developers will go along with the real estate boom in order to invest into properties in Estonia, Latvia and Lithuania, where real estate prices are significantly below EU average, writes the International Herald Tribune. The increase of real estate prices in Estonia, Latvia and Lithuania has is not yet so rapid like in other new EU member states Poland and Czech Republic. But presuming that the economy of the Baltic States would rise 6 percent a year, real estate prices should continue increasing. The main problem is the lack of investment possibilities in Baltics. Competition for each square meter is fierce. According to Arco Vara, there are 400,000 square meters of bureau areas in Baltics and 44 million in Paris alone. Eesti Päevaleht
There are 2 million Internet users in the Baltics By the beginning of the current year there were almost two million Internet users in the Baltic States, whereby half of them live in Estonia. According to TNS Emor, almost 2 million residents in ages of 15 to 74 used Internet in Baltic States. During recent years, the user base has grown fastest in Latvia. Spread of Internet has happened mainly due to popularity of home computers and broadband connections at home. Nearly third of Estonian households have Internet connection at home, whereby the percentage in Latvia is 12 and in Lithuania 14. Äripäev, Turunduse TOP
Alcohol sales made giant leap with help of the European Union Local alcohol market has quickened considerably after Estonia becoming member of the EU. Biggest winners are local alcohol manufacturers. Remarkably more alcohol was sold to tourists, increasing over two times compared to last year. Eesti Paevaleht
1.9 million tourists stayed overnight in Estonia last year 1.9 million tourists used services of Estonian accommodation places last year, which are 361,000 tourists more than year before, announced Statistics Department. 28 % were Estonian citizens and 72 % foreigners. 67 % of tourists came from adjoining states – from Latvia, Finland and Russia. Tourists stayed in accommodation places fairly two days. 61 % were on vacation and 26 % were on business trip. Tourists paid fairly EEK 445 in accommodation places for a day. Aripaev
Thursday, 19th of May, 2005
Volume of housing loans, real estate transactions up briskly Estonia's leading banks Hansabank and SEB Ühispank say their housing loan portfolios are up by more than 50 percent a year. Most of these loans went to the real estate market where the number of notarised purchase-sale contracts increased by 13 percent in Q1 and totalled almost EEK 8 billion. BBN
MOSCOW, May 23 (RIA Novosti) - Russia has signed and ratified a border treaty with Estonia, one of three Baltic republics that were part of the former Soviet Union, but rejected its additional conditions.
"Everything went as we had expected: no additional conditions for the border treaty had been advanced, and the Estonian minister reaffirmed his position that once ratified the treaty would finally stipulate the border line," the Russian foreign minister said at the Russian president's meeting with cabinet members.
The Russian-Estonian border treaty was signed by Sergei Lavrov and Urmas Paet, the respective Russian and Estonian Foreign Ministers, in Moscow last week.
Estonia had demanded that Russia recognize that the three Baltic republics were occupied by the former Soviet Union in ................
MOSCOW (Interfax) - Russia and Estonia will not make any reservations or unilateral additions after the ratification of the bilateral border treaty, Russian Foreign Minister Sergei Lavrov said at a Monday governmental meeting chaired by President Vladimir Putin.
He said in an answer to Putin's question the Estonian foreign minister had confirmed that the treaty ratification would legalize the final border status.
"Russia will see how the treaty is being ratified in Estonia," he said. Then the Foreign Ministry will make proposals on the Russian ratification process to the president.
What is the EU constitution treaty and why does it matter ?
Depending on who you believe, the proposed constitution is either a manifesto for a monolithic European superstate, or a much-needed route to a more efficient, decisive EU.
The 300-page document pulls together and formalises all the successive treaties and agreements that have accumulated over the years, and draws up arrangements for the EU of the 21st century. There are 460 articles. It's not an easy read.
What are the key clauses ?
If the constitution is adopted, the EU will have a new anthem, (Beethoven's Ode to Joy) a president and a foreign minister. The president would serve a 30-month term, ending the system of a six-month rotating presidency of the Council of Ministers.
The appointment of a foreign minister would finally answer the question asked by ..........
*There are always lots of discoveries at Tallinn’s markets, both cultural and gastronomical. Keskturg (Central market) is just a short street (and a world) away from Stockmann’s department store, with the closest thing to a specialty food store in Eesti.
But Stockmann’s did not have cranberries (jõhvikad), either fresh or frozen last week, yet many nice little old ladies at the Keskturg still did. EEK 70.00, or approximately USD 7.00 a kilo, but doctor’s orders – to help cure my urinary tract infection. Sorry, if this is too much information, but it’s worth noting that many Estonian physicians suggest tried and true homeopathic remedy alternatives before sending you to the prescription counter. So I drank teas of põldosi (horsetail) and leesikas (bearberry), bathed in kummel (camomile) and popped cranberries for 3 days – before heading to the prescription counter. (It must’ve been a nasty strain.)
Garden plants were the new arrivals at the turg : cold-tolerant pansies galore (võõrasema = “step mother”), wonderful little rock garden plants like kukehari (“cock’s comb” = sedums) and liivatee (sand tee = thyme) and tables teeming with tomato plant seedlings with great names like Saksa varajane (German early), Koit (Dawn), Tolstoi, Valve (woman’s name) and Moneymaker (no translation required).
But I also chanced upon something new. Alongside fresh radishes, rhubarb and spring greens including lovely sour hapuoblikas (sorrel), I spied bunches of ...........
Estonia's biggest restaurant has opened at the Reval Hotel Olumpia. It has 255 seats and two banqueting halls with 200 seats. Einar Salomonsen and Anne M. Bjornstad designed the interior. They have also designed most of the public rooms in the hotel. The chef at the Reval Hotel Olumpia is Torbjorn Lofaldi. The decor and menu are suitable for business meetings, meetings with friends and for families.
Subsidiary of Saaremaa Shipping Company, SLK Ferries opens shipping line between Saaremaa and Latvian town Ventspils on today. To market the new route company offers tickets 20 % cheaper than regular price in May. In the beginning, ship will be taking four cruises a week, on 6th June there will be six cruises a week. Ticket for passenger costs EEK 250 until the end of June. Transporting car will cost EEK 300. Cruise from one harbour to another will take four hours.
The Eesti Telekom (Estonia Telecom) subsidiary Elion Enterprises has acquired a 95% stake in the local arm of MicroLink, the leading IT company in the Baltic Republics, for a reported €6.08 million. At the same time, MicroLink’s operations in Latvia and Lithuania have been sold to Lattelekom and Lieuvos Telekomas, the countries’ respective incumbent telcos. Elion is the leading provider of ADSL-delivered Internet services in Estonia, having ended 2004 with 76,800 subscribers. In a separate development, TDF-backed Levira, formerly known as the Estonian Broadcasting Transmission Centre, has announced plans to convert the Tallinn TV Tower into a conference centre. Levira has operated an experimental DTT service in Tallinn and environs since May 2004.
Company Estonian Conference Centre and Levira are planning to establish conference and education centre in Tallinn Television tower. Arranging conferences would be primarily directed to foreigners, who could at the same time enjoy the view of Tallinn.The area around television tower has started to develop, and new hotels and motels are built there.
Stockholders of airline company Estonian Air has confirmed company’s last financial year’s report. Stockholders decided not to pay dividende and instead use the profit to cover earlier losses, says Anu Hallik-Jurgenstein, information officer of the Ministry of Economics. Estonian Air had sales of EEK 955 million in 2004 and gained profit of EEK 29.5 million.
Saare county government has signed a contract of serving Saaremaa-Ruhnu route with Saaremaa Ship Company from May 19 to August 31. Passenger and cargo boat Aegna will make five return cruises in a week. Subsidiaries from the state will be EEK 1.1 million