Online commerce in Estonia has grown by over 50% since 2017, according to SEB Bank, with the market share of online merchants increasing to 11% over the same period. Much of the growth comes from relatively recent types of e-commerce, such as ride-sharing and food delivery services, with large, international e-stores seeing the largest increases.…
The exceptionally warm winter this year has had a negative effect on economic growth, says a senior economist from Swedbank. The fall in logging activity and energy generation, which the mild conditions have brought, have not been mitigated by any improvements in construction or agriculture, Liis Elmik, Swedbank senior economist, has said. “While predicting the…
Eesti Energia offered the highest bid at the auction for the land at Tootsi wind farm, organized by the State Forest Management Center (RMK). The final price was EUR 51.5 million. The final price was more than four times higher than the starting price. Four bidders took part in the auction: Eesti Energia AS, OU…
Residents of Tallinn have rejected mayor Mihhail Kolvart’s proposal to limit driving speed within city limits to 40 km/h, forcing the municipality to look for other ways to control road traffic speed. The proposal to limit driving speed in Tallinn to 40 km/h was presented in autumn 2019. The idea was justified with how several…
Europe’s largest bus company, FlixBus, will start traveling to Tallinn under plans to expand to eastern and western Europe in the first half of 2020. The Ministry of Economy has approved FlixBus Polska’s request to open bus routes on Berlin-Tallinn, Warsaw-Tallinn and Prague-Tallinn. “We are preparing to start operations in the Baltic States,” said Michal…
Swedbank has been experiencing some issues with its banking services, and is working to resolve the problems, the bank says. The bank has also said it is conducting scheduled overnight work, which could cause additional disruption. Ede Raagmets, Head of Swedbank’s Customer Services Division, said on February 5 that various banking services had been hit…
SEB Estonia earned a profit of EUR 100.4 million in 2019, up from EUR 63.7 million in 2018. In 2019, SEB financed the plans of commercial enterprises with more than EUR 1 billion and individuals with more than half a billion euros. Last year, SEB assisted in the purchase of more than 5,000 new homes.…