Chairman of the Supervisory Board of the Bank of Estonia, Mart Laar, has submitted a request to the Riigikogu to replace board members Kalev Kallo (Centre) and Liina Tonisson (SDE). While Laar didn’t explain his reasons for the replacement of Tonisson, Kallo was involved in an ongoing corruption case. Laar is suggesting to replace Tonisson…
Starting from June 20, operator TS Laevad is adding another ferry to their Virtsu-Kuivastu route. A total of 513 additional trips are planned, the company said. At the same time, the Road Administration announced that they were chartering additional flights from Tallinn to Kuressaare on Fridays and Sundays. TS Laevad’s Pille Sauber said on June…
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…