|WEEK 17th 2003
Saturday 26th of April, 2003
Kroon is underrated
According to the Big Mac index calculated by The Economist, Estonian kroon is 24% underrated in relation to US dollar. In Estonia, Big Mac hamburger costs USD 2.07. The average price of hamburger in USA is USD 2.71.
Friday 25th of April, 2003
Telecom demonstrated good results
According to Trigon and Ühispank, the first quarter results of Estonian Telecom were proper; Hansabank Markets was surprised of high efficiency. The results of Estonian Mobile Telephone were better than expected. The number of EMT clients increased by 3200 up to 430,700 in the first quarter. The number of contractual clients increased by 5500.
Thursday 24th of April, 2003
Analysts expect the profit of Estonian Telecom to increase
Trigon Capital expects the profit of Estonian Telecom in the first quarter to be EEK 299 million, Ühispank EEK 310 million. Trigon Capital expects profit to increase by 19%, Ühispank by 23.5% compared to the result in the first quarter of 2002. The operating profit of EMT should increase by 2% compared to the last quarter and by 15% compared to the same period last year up to EEK 204 million, prognosticates Trigon Capital.
Wednesday 23rd of April, 2003
Industrial production increased more than expected in March
The unexpectedly high growth of industrial production pleases analysts. Industrial production increased by 16% in one year. Production increased in March by 14% compared to same period last year. Production increased the most in the industry of flour and cereals, and in the manufacturing of office supplies and computers. Sven Kunsing, the analyst of Ühispank, admitted that the results were strong already for the second month in a row. The weakness of European economy has not affected Estonian manufacturers yet, noted Maris Lauri, the analyst of Hansabank Markets.
Others of us: The New York Times
Half of Estonian citizens use the services of Internet bank; 80% of enterprises have Internet connection. According to the report of the world's economic forum Estonia is on the 8th rank in part of practical Internet applications, on the 2nd place in Internet banking and on the 3rd in part of e-government. Most Estonians, who pay bills in Internet, have never used a checkbook that is still so widely used in the west, writes the New York Times.
Tuesday 22nd of April, 2003
LB Kiel regards Estonia as favourable investment place
Estonia is especially favourable for foreign investments and has become a link of the Baltic Sea area, noted LB Kiel in its report about the countries of Central and Eastern Europe. LB Kiel considered such factors as wage level, taxes, institutional framework, economic freedom, international competitiveness, infrastructure and human capital.
Government and Hansapank are the favourites of media
According to the research of ES Turu-uuringute AS, the best communicator from public sector was government; the best communicator from private sector was Hansapank. The research was carried out in January 2003. 217 journalists from all over Estonia answered the questionnaire.
In addition to the highest general evaluation, both government and Hansapank achieved best results also in part of media communication skills and the availability of the press representative.
Monday 21st of April, 2003
Kredex received EEK 42.6 million of profit
The board of Estonian Credit and Export Guarantee Fund KredEx affirmed the report for the year 2002. According to the report the foundation received EEK 42.6 million of profit. The foundation received EEK 31.4 million of operating income. EEK 22.2 million came in from the bankrupt ERA Bank.
Tallinn Stock Exchange has reached the highest level in five years. Gert Tiivas, the chairman of HEX Tallinn Stock Exchange explains that compared to the rest of the world, the profits and turnovers of Estonian companies have been impressive. In addition, Euro optimism has allured more foreign investors.
Baltic Weekly Monitor