Observer Eesti Oü

WEEK 20th 2003

Friday 16th of May, 2003

Merko to win a substantial port contract
Merko Ehitus and the Port of Tallinn hope to sign an EEK 730 million contract for constructing a coal terminal. For Merko, the contract is the largest order of all times in financial terms. The completion date for the construction is the end of 2004.

Quarter profit of RMK to reach over EEK 100 million
With the EEK 384.6 million net turnover of Q1, RMK earned EEK 139.8 million of net profit. A year ago, the turnover of Q1 was EEK 314 million and profit reached EEK 100.9 million. According to Kaupo Kirikall, the finance director of RMK, turnover was influenced by long and cold winter that favoured the sale of forest.
RMK is the administrator of Estonian forests.

Wednesday 14th of May, 2003

Foreign competition forces Estonian companies to make an effort
Yesterday, one of the world's leading business schools, International Institute of Management Development (IMD), published annual charts of competitiveness. Estonia is on the 17th rank in the chart of regions with population under 20 million. Estonia outruns such EU candidates as Czech Republic and Hungary and member state Portugal. Latvia and Lithuania are not in the chart.
In order to improve the position and stay in competition, IMD suggests Estonian companies to invest more. According to IMD, Estonian 5.8% of economic growth is a very positive factor.
(Eesti Päevaleht)

Tuesday 13th of May, 2003

Research to praise Estonian banks
According to the data of Deloitte & Touche research, Estonian banks are the most effective banks in Baltic States with their 2.8% of productivity of assets. Same indicators of Latvia and Lithuania (respectively 1.3% and 0.9%) are far behind. Gavin Hill, the managing partner of Deloitte & Touche in Baltic States noted that Estonia is using completely the positive effects that resulted from the process of banks' consolidation.

Monday 12th of May, 2003

ECI: 7% of economic real growth
Estonian Conjuncture Institute published its prognosis for the economic situation in the end of 2003: EEK 118 billion of GDP, 7% of economic real growth, 4% of the growth of CPI, 14% of increase of trade export, 8% of increase of trade import and 13% of increase of retail turnover of retail trade companies. The analysts of ECI estimate the situation of Estonia to be very good. Also Hansapank expects the growth of economy to be 7% by the end of 2003. (Äripäev)

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