Swedbank will relocate its head office building on Liivalaia Street in Tallinn’s Kesklinn district and move to the Hippodrome quarter in North Tallinn in 2024, bringing all of its departments under one roof. Head of Swedbank AS Olavi Lepp said the buildings on Liivalaia Street were too small and the bank had outlived its time…
The Estonian Financial Supervision Authority (FSA) has said the most difficult time for banks during the coronavirus crisis has passed and at the end of the second quarter requests for loan holidays ceased. In the second quarter, the loan stock of the banking sector decreased by 0.7% YoY, to EUR 27.5 billion. In the previous…
There were 49,093 registered unemployed in Estonia as of the end of September, making up 7.6% of the entire workforce of people aged 16 and over. Compared to August, the increase in the number of unemployment is 0.5%. The highest rate of unemployment in September was in Ida-Viru County at 12.2% and the lowest was…
A new carrier operating flights between Tallinn and Kuressaare, the capital of the island of Saaremaa, brings with it a change to flight timetables, in response to islanders’ complaints that the morning service to Tallinn arrived too late in the day. NyxAir won the tender after a lengthy process, replacing Lithuanian firm Transaviabaltika, and the…
Troubled state-owned airline Nordica may have to be privatized in the years to come, due to European Commission rules requiring the repayment of state aid. Management board chair Erki Urva says that European Commission rules require state aid, which amounts in the case of Nordica to EUR 30 million and was issued after the peak…
The change of the consumer price index in September was -0.3% compared to August and -1.1% compared to September 2019, data from Statistics Estonia showed. Year on year, goods were 0.7% and services 1.7% cheaper. Leading analyst at Statistics Estonia Viktoria Trasanov said compared to September 2019, the consumer price index was affected the most…
The Riigikogu’s finance select committee will discuss the newly presented state budget for 2021 with ministers to clear up uncertainties and goals in each ministry’s areas of governance. Riigikogu finance committee head Aivar Kokk (Isamaa) explained the state budget was activity-based for ministry’s areas of governance for the second year, as Estonia changed to a…