Observer Eesti Oü

WEEK 25th 2004

Monday, 14th of June, 2004

Baltic’s highest average wage in Estonia
According to statistical office, the highest wages in the Baltics in the first quarter were in Estonia where it was 431 euros. Lithuania was second with 332 euros and Latvia third with 292 euros.

Project of wind generation parks will cost EEK 1.8 billion
In recent years, Estonia will have 43 wind generators. Three wind generation parks will be built in Pakri, Paldiski and Türisalu. The total cost of three projects will be 1.8 billion, of which the cost of wind generators is 80 percent.

Sangar to create 55 new workstations in Valga
Estonian shirt and jeans maker Sangar has teamed up with Scandinavia’s largest jeans maker M.A.S.I Company Oy. The two companies have decided to invest over EEK 12 million in opening a modern production facility for making jeans in Valga in South Estonia.

ING to expect great dividends from Estonian Telecom in the future
Dutch investment bank ING expects EEK 6.40 per share for the dividends of Estonian Telecom in 2005 and EEK 24.5 in 2007. For the annual turnover, ING prognosticates EEK 5.02 billion (5% growth) and net profit EEK 1.10 billion (5.9% growth).

Tuesday, 15th of June, 2004

Israeli businessman promised to allocate EEK 6 billion to Baltic States
One of the largest real estate companies in Israel, Gazit & Globe, plans to invest USD 400 million in the Baltic region. “We thought it was time to look at less mapped areas,” said Chaim Katzman, chairman of the board of Gazit & Globe.

Wednesday, 16th of June, 2004

Estonian banks earned EEK 138 million of profit in May
According to the central bank, Estonian commercial banks earned EEK 138 million of profit in May this year. In five months, banks have earned EEK 1.330 billion of profit.

Äripäev Kirjastus earned EEK 4 million of profit in May
May turned out to be most successful month for Äripäev Kirjastus (Äripäev’s publishing house), having earned EEK 4 million of profit before taxes by the turnover of EEK 13.6 million.

Hansapank on the threshold of a new record
Yesterday, Hansapank share made a next step towards a new record. Only EEK 1.5 must be added to the share price in order to reach a new top. The share of the leading Baltic bank closed yesterday 1.95 percent higher, on EEK 106.08.

Tallinn Milk Industry has doubled export due to Finland
On May 1, Tallinn Milk Industry started to export its production to Finland. Export of May was double the size of export in May last year. Tallinn’s Milk Industry’s cooperation partner in Finland is INEX Oy.

Thursday, 17th of June, 2004

Standard & Poor’s to praise Estonian economy
G to rating agency Standard & Poor’s (S&P), Estonian economy is in a good state and risks in banking have significantly decreased recently. S&P notes that the risk level of Estonian banks is equal to the one of new EU member states of central Europe and is lower than the risk level of Latvian and Lithuanian banks.

WiFi area increased several times
At the moment Elion has 75 wireless Internet areas, last year the number was only 25. Lately Elion created WiFi areas in hotels. Uninet’s wireless Internet areas also significantly increased- currently around 40, whereas last year it was about 20. Tele2 has 45 WiFi areas, most of them are in Statoil gas stations. Tele2 is the only company that provides free WiFi. Elion and Uninet promise to increase the number of wireless Internet areas also in the next year.

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