Observer Eesti Oü

WEEK 34th 2003

Friday 22th of August, 2003

Commercial banks set a record of housing loans in the first half-year
In the first half-year, commercial banks set a new record of housing loans, issuing EEK 800 million of housing loans in June alone.
Just six months ago, the amount of housing loans per month reached scarcely EEK 500 million.
In the first half-year, Hansapank contracted up to 4700 new loan and leasing agreements in the total amount of EEK 1.7 billion. The average sum of a new leasing or loan in Tallinn was EEK 435,000 and outside Tallinn EEK 200,000.

Thursday 21st of August, 2003

News in one sentence
In the Q1, Estonian Oil Shale earned EEK 46.5 million of profit, which exceeds last year's Q1 results by EEK 29 million.
(Eesti Päevaleht)

Kauppalehti: Estonia runs a smart economics policy
According to Finnish leading economics daily Kauppalehti, Estonia runs a smart economics policy that gives a competitive advantage to the country in EU and enables fast development. In its editorial, Kauppalehti wrote that Juhan Parts, the prime minister of Estonia, admitted that Estonia would decrease the level of taxes regardless of the decision about EU accession.

Tuesday 19th of August 2003

Eesti Energia received EEK 56 million of profit
Net turnover of Eesti Energia Grupp (Estonian Energy Group) increased by 18% up to EEK 1.28 billion in the Q2 and net profit was EEK 56 million. The Q2 profit of Eesti Energia was EEK 83 million bigger than in the Q1. Export of electricity increased by two times in the Q1. Export increase was mainly on the account of Russian export. Export to Latvia increased by 19%. Economic year of Eesti Energia lasts from April 1 to March 31.

Monday 18th of August, 2003

Tallegg will not apply for support due to high mortality rate of birds
Although Estonia's greatest poultry manufacturer Tallegg sustained damages due to high mortality of birds during hot summer days, it will not apply for support from the state.
In the first half-year, Tallegg received EEK 12.3 million of profit with the turnover of EEK 258.1 million.

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