International food producer Paulig plans to expand in Estonia, though this hinges on reaching an agreement with Swedish trade unions. Relocating production to Estonia, where Paulig already operates a production plant in Saue, near Tallinn, would mean closing a factory in Molndal, Sweden, which Paulig currently leases. To close down the Molndal plant, near Gothenburg,…
Estonia’s major grocery chains – Selver, Grossi and Coop – are continuing their active expansion this year and plan to open new stores in several locations. Selver plans to open two new stores in the second half of the year – one in Parnu and another in Joelahtme Municipality. The chain has no plans to…
Post-holiday sales at industrial goods stores are drawing as many shoppers as last year, but weather gear, sports goods and clothing are selling better. January is traditionally a discount season in retail and this year is no different. Guido Parnits, director of the Ulemiste Keskus shopping center, told ERR that sales during this year’s January…
Cheese prices in Europe are falling due to overproduction, but this has not yet been reflected on Estonian store shelves. Producers say prices may drop in February or March. The price of raw milk on the international market has fallen by 20-30% compared with last year, but this has yet to be reflected in the…
A drop in global milk prices is currently only reflected in cheaper Lithuanian butter in Estonia, but Estonian butter and cheese prices are also set to fall soon. ERR reported on January 14 that butter prices in Latvia had dropped sharply, with Latvian Radio saying a pack of butter could now be bought for as…
Ukraine will win this war and become one of Europe’s engines of growth, Tarmo Sild, CEO of Iute Group, which is in the process of establishing a bank in Ukraine, has declared. The Estonian financial company Iute Group is acquiring RWS Bank in Ukraine. “We are buying selected assets from them. We’re taking over a…
Iute Group, a banking group founded in Estonia, has won Ukraine’s state-organized tender to create a digital bank. Final approval will be given later this month. Iute has won Ukraine’s state-organized tender conducted by Deposit Guarantee Fund to take over selected assets and deposit liabilities of RWS Bank, a Ukrainian bank with over 30 years…