Observer Eesti Oü

WEEK 18th 2003

Third of state budget accomplished
In four months, EEK 12.5 billion or 32.53% of planned income have returned to the state budget. Last year, 30% of planned income had arrived to the state budget in four months.
(Eesti Päevaleht)

Friday 2nd of May 2003

Nordic countries expect a record tourism summer
Fear for terror attacks and lung virus SARS increases the attractiveness of Scandinavia and Baltic countries as a safe tourism direction. Currently, Baltic Sea is the most stable area in the world, admits Erik Sakkov, marketing director of the Port of Tallinn. This summer, 235 cruise ships that carry 220,000 tourists will visit Tallinn. Compared to last year, this is 70 vessels more.
(Äripäev)

Norma share back in spring 1998
Norma share closed on the highest price since May 5, 1998 – EEK 74.79 (EUR 4.78). In a day, the share increased by 2.14%. Hansapank share surpassed the level of EEK 250 and increased from EEK 249.56 to EEK 255.35, having grown by 2.32%. Turnover of the share reached up to EEK 8.65 million.
(Äripäev)

Wednesday 30th of April 2003

Moody's raised the rating of Tallinn to the level of A3
International rating agency Moody's raised the trustworthiness of Tallinn's long-term investments to the A3 category. According to Moody's, Tallinn's versatile and growing economic potential guarantees a noticeable basis of income also in the future.
(Äripäev)

100,000 new mobile clients in a year
In a year, Estonian mobile operators received 100,000 new clients. Every second mobile owner is a client of Estonian Mobile Telephone (EMT). Market share of EMT is 50%, Radiolinja's share is 31.7% and Tele2 has 18.3% of the market.
(Äripäev)

Tuesday 29th of April 2003

Kunda Nordic Cement to invest EEK 65 million
Estonia's largest cement manufacturer Kunda Nordic Cement plans to invest tens of millions of kroons in the next couple of years. The company ended last year with turnover of EEK 455 million (EUR 29 million) and profit of EEK 74 million. Kunda Nordic Cement's owner Atlas-Nordic Cement Ltd plans to open an oil shale mine next year at a cost of EEK 20 million to provide oil shale for the company's burners for the next 25 years. In addition, the company plans to invest up to EEK 40 million in Kunda port.
(Äripäev)

News in one sentence
Estonian analysts expect Hansapank's profit before taxes to be EEK 560 – 568 million.
(Eesti Päevaleht)

Monday 28th of April 2003

Swedish risk capital seeks application in Estonia
Swedish Swedfund, which first investment in Estonia was a shareholding in Ühispank, seeks last great investment opportunities in Baltic countries. In Estonia, the objective is to find three to five projects in which Swedish risk capital fund is willing to invest SEK 5 – 50 million or EEK 8.5 – 85 million. Suitable for the project are local operating companies that wish to modernise or expand the company.
(Äripäev)

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