The Road Administration authority has declared the procurement procedure in the Tallinn-Kuressaare flight route, linking the capital of Estonia’s largest islands to the mainland, invalid, leaving it unclear who will be operating the route in future. The issue surrounds the awarding or otherwise of the contract to Regional Air, a subsidiary of Estonian carrier Nordica.…
The Centre Party announced that a quick solution and government intervention was required to help mitigate the effects of proposed layoffs by state-owned energy provider Eesti Energia. The decision was made at a crisis meeting held by the coalition majority party’s parliamentary group, with group chair Kadri Simson stating the two key issues were preserving…
Estonian bank LHV is set to acquire Danske Bank’s private customer loan portfolio, for around EUR 410 million. In February, Danske was ordered to close its doors by the Finanical Supervisory Authority (FSA), ending months of speculation following revelations that as much as EUR 200 billion in potentially illicit funds had passed through the bank…
According to information released by Statistics Estonia, GDP grew by 4.5% YoY in the first quarter of 2019. The seasonally and working day adjusted GDP grew by 0.5% compared with the previous quarter and by 4.6% compared with the first quarter of 2018. Economic growth was driven by manufacturing. The last time that manufacturing had…
During the first quarter of 2019, the average gross monthly wage in Estonia stood at EUR 1,341, up by 7.9% YoY, according to Statistics Estonia, though down by 3.2% QoQ. Average Q1 2019 monthly gross wages/salaries by month were: January – EUR 1,309, February – EUR 1,317 and March – EUR 1,396. As well as…
According to the information released by Statistics Estonia, in the first quarter of 2019, the total production of Estonian construction businesses in Estonia and foreign countries increased by 2% YoY. Overall construction volumes increased due to work done abroad, as construction volumes on the Estonian market decreased. In the first quarter of 2019, the production…
Lithuanian airline Transaviabaltika is due to continue its route between Tallinn and the island of Saaremaa on June 1. Transaviabaltika had previously serviced the island, flying to Kuressaare airport at the island’s capital, and the route was opened to tender at the end of 2018, ahead of the expiry of the company’s previous contract. The…