Proposed changes of the Ship Flag and Ship Registers Act as well as the Income Tax Act aim to bring up to 300 large cargo vessels under the Estonian flag over the next seven years. There is currently not a single large freighter sailing under the Estonian flag, the last one having been unregistered after…
The European Bank for Reconstruction and Development (EBRD) has lowered its forecast for Estonia’s economic growth this year by 0.2%, to 3.6%, citing poor corporate investment. The EBRD highlighted that following the investment-led strong gross domestic product (GDP) growth recovery of 4.9% in 2017, economic growth in Estonia slowed down to 3.5% YoY in the…
According to information released by Statistics Estonia on October 30, the turnover of retail trade enterprises in September increased by 3% YoY at constant prices, with growth accelerating slightly compared to the previous month, when turnover increased by 2%. In September the turnover of retail trade enterprises was EUR 588.6 million. The turnover growth in…
Growth in the economy slowed in the first half of 2018, signs of which were evident on the labor market, with employment growing more slowly than in 2017, the Bank of Estonia said. There are still many vacant positions in the economy, but they are fewer in number than a year ago, Bank of Estonia…
There is substantially less traffic and fewer traffic jams in Tallinn this week, when most schools are out for their autumn holidays. According to Talvo Ruutelmaa, head of the Traffic Control Bureau of the Tallinn Transport Department, the drop in traffic congestion was measured fairly precisely by fixed counters. “Compared to everyday traffic, there are…
Saaremere Kala AS, a subsidiary of the listed food trading group AS PRFoods, has submitted a new application for building rights for an offshore fish farming complex off the Estonian island of Hiiumaa. The company wants the fish farm permission to extend to 50 years, and aims to harvest rainbow trout in offshore cages to…
Listed Estonian shipper AS Tallink Grupp has signed an agreement with Rauma Marine Constructions (RMC) for the construction of a new shuttle ferry. Tallink and RMC signed an agreement of intent according to which Tallink intended to order a new passenger ferry for its Tallinn-Helsinki route. The new vessel, which is to be built at…