Assets declined by 3% or by EUR 4.34 million, in the second quarter of 2020, the Bank of Estonia said, despite the aggregate balance sheet of savings and loan associations increasing during that time. Q2 bore the brunt of the coronavirus pandemic so far. Assets grew by 1% or by EUR 1.43 million in Q3,…
One in five businesses have serious deficiencies relating to their tax situation, the Tax and Customs Board (MTA) says. Additionally, another 20% have some issues. The MTA adds that over half of businesses have their affairs fully in order, so far as the authority is concerned. The board issues guidance on how to remedy this…
Estonian bank LHV is to fully set up separate operations in the United Kingdom. LHV has a branch in the U.K., but this has not been distinct from its Estonian operations via AS LHV Group. The bank told the Estonian stock exchange the move would allow for better compliance with regulatory and supervisory requirements. In…
A section of cargo rail track in southwestern Estonia is to be reopened following repair works, largely using European Union funds. The line, which has been closed for two years, runs from Parnu to Lelle, Rapla County, and is primarily needed to transport construction materials for the building of the planned high-speed Rail Baltic link.…
The industrial output producer price index fell by 0.4% in September, compared with August, and by 2.4% YoY, state agency Statistics Estonia reported. Eveli Sokman, leading analyst at Statistics Estonia, said that in September, as compared with August, the producer price index was affected the most by price falls in electricity and heat energy supply,…
The national airline Nordica is waiting for Polish LOT to approve a contract that will see Estonian company acquire 49% of joint subsidiary Regional Jet, Nordica CEO Erki Urva has announced. Urva said that Nordica hadn’t received the EUR 30 million promised by the state because its precondition was that first, the contract with the…
The government agreed on October 15 to support Nordica’s share capital by EUR 22 million and provide a loan of EUR 8 million to the struggling airline. Minister of Economic Affairs Taavi Aas said the government planned to approve the allocation of funds within a week. The government received permission from the European Commission to…