Observer Eesti Oü

WEEK 39th 2003

Thursday, 25th of September, 2003

Incomes of people with low purchasing power increased by fifth
According to Emor research, incomes of people with low purchasing power increased the fastest during first six months, incomes being nearly 20% higher than in respective period last year. Compared to last year, net incomes increased 8% and average net income reached EEK 2939 per person in a month. Incomes of persons with high purchasing power increased 4%.
Agnes Makk from Hansa Capital admitted that increase of incomes reflects also in the increase of issued credit cards. In July, Hansapank issued 4407 and in August 3494 new Ego credit cards.
(Eesti Päevaleht)

Wednesday, 24th of September 2003

Volume of manufacturing industry to increase
In August, the sale of industrial production increased by 8.1% and the volume of production by 8.9% compared to respective period last year. The sale grew the most in the manufacturing of office appliances and computers – over 70%. According to the analysis of the ministry of economy and communications, growth in manufacturing industry was supported by an increase of demand both in domestic and foreign market.

Tartu Brewery purchased Aura
Yesterday, A. Le Coq Tartu Brewery purchased the juice manufacturer Ösel Foods, acquiring the trademark of Aura and an opportunity to increase alcohol production in Tartu. The price of the deal that includes all the obligations, reaches EEK 160 million. Output of soft drinks and juices will increase due to export to Latvia and Lithuania, since A. Le Coq has subsidiaries in all the three Baltic States.

Tuesday, 23rd of September, 2003

Banks to concentrate on chip cards
Estonian banks are investing tens of millions of kroons into bankcards that are equipped with chips.
In five years, Hansapank invests nearly EEK 50 million; Ühispank's investments reach EEK 15 million. Already today, every second debit card issued in Hansapank is equipped with a chip. In total, the bank has over 17,000 chip cards. Hansapank plans to stop issuing cards that are equipped with merely magnetic stripes by the end of 2005.
By now, Hansapank has installed about 1200 payment terminals with chip readers, and about 100 respective ATM machines.

The sale of Smarten Logistika services up by tenth
Sales turnover of Smarten Logistika during first seven months of current year reached up to EEK 36 million, having grown by tenth compared to respective period last year. Logistics company's biggest cooperation partners include Sales-Star, Paulig Baltic, Põltsamaa Felix, Allied Domeq S&W Estonia, Scandinavian Tobacco Estonia, Liviko, Kalev, Ösel Foods and Viru Õlu.

Over million VISA cards issued
The number of VISA bankcards issued by Hansapank Group in the Baltic States exceeded the limit of one million; 329,000 of which were issued in Estonia.
Eesti Päevaleht

Monday, 22nd of September, 2003

Harju County in Financial Times
Information about Harju County was published in the May issue of Foreign Direct Investment, a magazine of Financial Times. County governor Orm Valtson explains what the county has to offer to a foreign investor. Valtson predicts an increase of competitive ability, growth in the number of foreign representative offices and participation of foreign companies in Estonian enterprises by the year 2006. Valtson writes that the highway of Via Baltika will join Harju County with all the major transport knots in Europe; express railway of Rail Baltica on the other hand, will join the county with Berlin, Kaunas and Riga.
(Eesti Päevaleht Tallinn)

Saturday, 20th of September, 2003

Hansapank pension funds have over 150,000 clients
On Thursday, a number of Hansapank's II pillar pension fund clients surpassed the limit of 150,000.
Therefore, more than every second person that has joined the II pension pillar, has selected one of the three pension funds of Hansapank.
According to fund manager Robert Kitt, pension funds have been successful in allocating the money, whereby avoiding unnecessary risks.
Over 292,000 of future pensioners have joined the II pension pillar. By the number of joiners, Hansapank's market share is over 51%.

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