Observer Eesti Oü

WEEK 42nd 2003

Friday, 17th of October, 2003

New stores brought additional turnover to Selver
Nine-month net turnover of Selver chain that consists of 10 stores reached EEK 743 million, which is 29 percent more than in respective time period last year. According to Ain Taube, head of Selver, the increase of turnover in Tallinn per square meter was 5.9% in nine months. Karmo Kaas-Lutsberg, head of Rimi chain in Estonia admits that considering the situation of competition at the market, the results of Selver were good.
(Äripäev)

Thursday, 16th of October, 2003

EEK 3.3 billion of more taxes have been returned
Voluntary receipt of taxes has increased nearly EEK 3.3 billion or by 13% a year, appears in the nine-month statistics of the board of tax and customs. EEK 14.9 billion came from the tax board. This is nearly EEK 1.9 billion or 14% more than in respective time period last year. EEK 12.9 billion came to the state budget from the board of customs. This is about EEK 1.4 billion or 11.8% more than in respective time period last year.
(Äripäev)

Private persons borrow at record figures in Estonia
Loans of private persons in Estonia went up by a record EEK 779 million in September. According to the Bank of Estonia, this is a new record since the previous highest figure was EEK 613 million that was recorded in July 2003.
By the end of September, Estonian banks had issued EEK 17.1 billion in loans to private persons. This is 46% more than a year ago. Total loans, which include all borrowers, went up by EEK 1 billion to EEK 60.8 billion.
Kersti Arro from Hansabank admitted that the increase of loans was mainly due to the continuing boom of housing loans and a period of student loans.
(Äripäev)

Handelsblatt: Estonian elite to trust on the effect of Ireland
In yesterday's Estonia's extra, German biggest economics newspaper Handelsblatt refers to the optimistic prognosis of both local and foreign analysts about the economic growth of Estonia.
Analysts agree that the member status of the EU will be beneficial to Estonia. Recently, the ministry of finance prognosticated an acceleration of economy's growth tempo in Estonia, writes the newspaper. In its latest analysis, International Monetary Fund raised the growth prognosis of Estonia's GDP from 5.2% to 5.5% in 2004. The newspaper points also to Maris Lauri from Hansabank Markets, according to whom Estonia's head start before Latvia is 23% and before Lithuania even 26%.
(Äripäev)

Wednesday, 15th of October, 2003

Growth of economy
In the second quarter of 2003, economy in the European Union grew by 0.5% compared to respective time period last year. At the same time, economy grew by 3.5% in Estonia and 2.5% in USA.
(Eesti Päevaleht)

Hansa gives 75% of stock exchange's turnover
Yesterday, the stock of Hansabank gave 75% of the total turnover of the stock exchange. The stock itself decreased by 0.25% down to EEK 318.41.
Due to its highest market value, Hansabank stock is the most traded stock at the stock exchange. In October, the stock has given about three times more turnover than other stocks together. In terms of market value, Hansabank gives 55% of the total value of companies listed at the Tallinn stock exchange.
(Äripäev)

Tuesday, 14th of October, 2003

78% of state budget fulfilled
In nine months, EEK 30.8 billion or 78% of planned money was returned to the state budget. EEK 27 billion or 77.5% of taxes were returned, announced the ministry of finance. Returned amount of income taxes reached EEK 4.6 billion or 89.6% of planned amount.
(Äripäev)

MicroLink in the chart of Central European technology companies
MicroLink ranked on the 19th position in the chart of Technology Fast 50, annual chart of Central European technology companies compiled by Deloitte & Touche. This year, MicroLink was the only Estonian company in the chart.
During 1998 – 2002, MicroLink's turnover increased by 412%, from EEK 183 million up to EEK 936 million. Last year, MicroLink ranked on the 43rd position.
(Eesti Päevaleht)

Monday, 13th of October, 2003

Hansabank became the biggest life insurer in Baltic countries
On Thursday, Hansabank purchased Lithuania's leading life insurance company. After the trade, Hansabank became the leading life insurance company in the Baltic countries.
Lithuanian insurance company UAB Lietuvos Draudimo Gyvybes Draudimas cost EEK 288 million. Lithuanian company is the leader at the local life insurance market, owning nearly half of the market.
(Äripäev)

Copterline served nearly 58,000 passengers in nine months
Copterline served 57,651 passengers between Tallinn and Helsinki in nine months. This is 58.5% more than in respective period last year.
(Eesti Päevaleht)

About 1.5 million tons of cargo through the port of Pärnu
In nine months, 1.466 million tons of cargo passed through the port of Pärnu. This is 5000 tons more than during respective time period last year.
(Eesti Päevaleht)

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