The former Krediidipank is officially launching operations under the new Coop Pank brand. All Krediidipank subsidiaries will likewise be switching to the new name. Coop Pank’s major stakeholder is Coop Eesti, a retail group consisting of 19 regional consumer cooperatives. According to Coop Pank board chairman Margus Rink, 14 bank branches across Estonia have been…
The Reform Party’s leadership condemned the government’s budget policy, saying that Prime Minister Juri Ratas’ approach to the budget was reckless. The party’s chairman, Hanno Pevkur, said Ratas’ choices regarding the state budget undermined Estonia’s future. “In a situation where the economy is growing and the president of the Bank of Estonia as well as…
According to information released by Statistics Estonia, the production of industrial enterprises increased by 5% YoY in August, with production increasing in mining and quarrying, but decreasing in the energy sector. In August, manufacturing production was 6% higher than the same month last year. Production growth was broad-based – last month, production surpassed August 2016…
Latvenergo’s energy trading company in Estonia – Elektrum Eesti – has commenced selling natural gas to business clients, as confirmed by the company. Elektrum Eesti is the second largest electrical energy trader in Estonia. Now it will also start selling natural gas in addition to electricity, expanding the company’s services. The company will offer gas…
The Estonian state-owned port company Port of Tallinn is planning on launching the first vehicle gateways outfitted with automatic license plate recognition as part of its EUR 7 million project to upgrade gates and waiting areas in Tallinn’s Old City Harbor. The Port of Tallinn will implement the Smart Port concept in Old City Harbor,…
The Riigikogu has ratified the EU-Canada Comprehensive Economic and Trade Agreement (CETA), which will give European companies the opportunity to operate under the same competition conditions as Canadian firms. 66 members of the Riigikogu voted in favor of the motion and 1 was against, according to a Riigikogu press release. Chairman of the Foreign Affairs…
The Estonian government at an extraordinary meeting on September 27 approved the 2018 state budget bill, which set out the first ever Estonian state budget to exceed EUR 10 billion. This marks the first full-length budget of the coalition government that took office in November 2016. The activities financed from the budget support the four…