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…
Employers’ attitudes toward their employees’ participation in national defense activities have been getting more positive in recent years. 2025 was no exception, according to a Ministry of Defense-commissioned survey. The proportion of employers who reported problems relating to employees being away on military service had continued to fall. More and more employers are reporting benefits…
Luminor Bank’s Chief Economist Lenno Uuskula said Estonia’s declining birth rates would bring economic problems in the future, for example, in healthcare and paying pensions. In November, 721 children were born in Estonia. In total, 8,442 children were born in the first 11 months of this year. Uuskula said that while discussion about economic cycles…
Tallinn welcomed its last cruise ship of the year on December 23. Cruise traffic is slowly rebounding but remains well below pre-crisis levels, especially from the U.S. AIDAprima was the 118th cruise ship to call at the Port of Tallinn this year, reflecting a gradual year-on-year increase in visits. “Last year, we had 100 calls,…
Starting on January 1, 2026, excise duty rates on tobacco products and alcohol in Estonia will rise by 10% and such tax increases typically lead to higher retail prices. Although both tobacco and alcohol excise duty rates were higher this year than last, tobacco excise revenue over the first 10 months of the year came…