In June, the turnover of retail trade enterprises was EUR 780 million. Compared to June 2020, turnover increased by 12% in constant prices, data from Statistics Estonia showed. Jaanika Tiigiste, leading analyst at Statistics Estonia, said that turnover increased in grocery stores and stores selling manufactured goods as well as in enterprises engaged in the…
In the first half of 2021, Eesti Energia earned a net profit of EUR 16.5 million with a record sales revenue of EUR 538 million. In the same period last year the company made a net profit of EUR 5 million. Turnover of the first half of the year increased by 36% YoY and reached…
New electric scooter parking spots have started appearing in central Tallinn, set aside for the two companies operating rental services to the public: Tuul and Bolt. The parking spaces are free-of-charge and, while not mandatory for riders, their use is encouraged. Bolt spokesperson Kristiin Jets said Tallinn city government had come up with the idea.…
Grid distributor Elektrilevi has acquired competitor Imatra Elekter, Estonian subsidiary of a Finnish firm, for EUR 28.9 million. The move means Elektrilevi now serves nearly all customers nationwide. Board chair at Elektrilevi Mihkel Harm said of the deal: “The merger of two companies and full integration of systems will take close to two years, according…
The number of people employed in the Estonian startup sector grew by 130% in five years, whereas the sum total of labor taxes paid by the sector’s companies more than tripled during the same period, Startup Estonia reported. In 2016, when systematized data on the sector began to be collected, a total of 2,625 people…
The effects of the pandemic have made their effects known within the construction sector and related industries, though not always in ways envisaged. Prices internationally of materials like timber have tripled since May, for instance, though in the US they have started to fall again. At the same time, construction projects are ongoing, leading to…
The Bank of Estonia (Eesti Pank) has urged caution on the part of two significant banks in issuing home loans and instigated specific requirements for the two banks in particular, in order to mitigate risk against any potential future downturn and at a time when the real estate market is particularly active. The central bank…