Monday, 12th of January, 2004
Hansapank made 60 percent of deals at Tallinn stock exchange
In December, Hansapank made nearly 60 percent of all deals at the Tallinn stock exchange, appeared in the stock exchange statistics.
Ühispank followed Hansapank with 16 percent of deals. 13 percent of deals were through Suprema Securities.
Hansapank made 49 percent of full turnover in December. Compared to November, share of turnover increased almost 5 percent.
Tuesday, 13th of January, 2004
Estonia remains on extremely high position in the index of economic freedom
Estonia remains on the sixth position in the ranking of countries by economic freedom. Several economics analysts believe the continuance of the level.
According to the index of Heritage Foundation and Wall Street Journal, 75 countries have increased their economic freedom, 69 have decreased and 11 have stayed the same.
Sven Kunsing, director of Ühispank's division of market analysis admitted that after EI accession, Estonia will definitely not worsen its position in the index of economic freedom.
Estonia was surpassed by Hong Kong, Singapore, New Zealand and Luxembourg. Lithuania is on the 22nd position and Latvia on 29th. Sweden ranks on 12 and Finland on 14 15.
Maris Lauri, analyst of Hansapank agrees that Estonia will keep its current position in the index. It is difficult to move in such index, since there are no sudden changes in the economy, she explained.
Turnover of ETK retail trading exceeded EEK 4.3 billion
The turnover of ETK system's retail trading in 2003 reached over EEK 4.3 billion, having increased 6.3 percent compared to 2002.
According to ETK, retail turnovers of Järva, Saarema and Harju consumer's cooperations increased the most. Among the hypermarkets of ETK, Tartu's Maksimarket was the most successful. Its retail turnover grew 7 percent in a year.
Wednesday, 14th of January, 2004
EEK 1.6 million passengers drove with Edelaraudtee
1,590,000 passengers drove the trains of Edelaraudtee in 2003. Compared to 2002, the amount of passengers increased by 66,415 people.
In December last year, Edelaraudtee served 122,383 passengers. In December 2002, the company served 106,310 passengers.
Thursday, 15th of January, 2004
Estonia is close to getting an EEK 2.5 billion pulp plant
After several years of negotiations, Estonia is close to getting its second-largest foreign investments. Norwegian group Larvik Cell plans to build a wood pulp facility in Kunda. The total cost of the project will be EEK 2.6 billion of which EEK 300 million would be borrowed from EBRD.
Urmas Paavel, head of the Estonian office of EBRD, said that the EBRD board of directors would discuss the project in February.
Estonian Cell, which belongs to the Norwegian firm Larvik Cell, is planning to construct an aspen wood pulp facility with an annual capacity of 140,000 tons in Kunda.
The main contractor is the German firm Industrie-Loesungen GmbH and the installations will be supplied by Andritz AG of Austria.
Estonian Cell has received building rights for 99 years to the property of nearly 80 hectares in Kunda. The cost of the building rights is more than EEK 300,000.
Cargo handling at Estonian Air up 10 percent
Estonian national airline Estonian Air announced that it carried 8.5 percent more mail and other cargo in 2003 in a year.
During the year, the airline carried a total of 1,359 tons of cargo and 417 tons of mail. Key routes in cargo handling in 2003 were Copenhagen, Frankfurt and London.
In December the airline carried 135.8 tons of cargo and 53.8 tons of mail that is 14 percent more that a year ago.
Starting from June, the whole cargo and mail sent out from Tallinn Airport goes through the special X-ray machine that is operated by Falck Eesti.
The biggest single cargo shipments this year have been 2.2 tons sent to Moscow. In average, 12 tons of cargo is sent to Moscow in a month.
In the Tallinn-Vilnius line Estonian Air carries 5-6 tons of cargo a month of which 60 percent is cargo in transit.
Domina Hotels in Tallinn make profit of EUR 1 million
The operating profit of Ilmarine and City hotels of Domina Hotel Group was EEK 15.6 million (one million euro). The annual turnover of the two hotels was EEK 33.8 million.
Aare Jaanus, area manager of Domina for Baltic states and Eastern Europe, said that Ilmarine Hotel is currently undergoing expansion costing as much as EEK 70 million. After the expansion the number of hotel rooms will be 152.
The occupancy of Domina City Hotel was 64 percent and that of Ilmarine was 45 percent last year. This year the occupancy of Ilmarine should increase to 52 percent.
Domina Hotel chain has 61 hotels including two in Tallinn.
Estonian companies earned EEK 11.7 billion in 2002
According to the board of statistics, net profit of Estonian companies in 2002 reached EEK 11.7 billion, which is almost two times more than earlier. The data covers 3667 companies.
Friday, 16th of January, 2003
Austria's biggest business paper recommends buying the stock of Hansapank
Wirtschaftsblatt, Austria's biggest business paper considers the stock of Hansapank as the second best stock in the Eastern Europe and sees a significant growth potential for the stock.
Hansapank is not only the biggest bank in Estonia, but also a market leader in Latvia and Lithuania, writes the paper. In Baltic region, Hansapank's market share is 33 percent. Therefore, the bank has an ideal opportunity to win from the region's economic growth.
GDP is expected to grow more than 5 percent in Estonia, Latvia and Lithuania in coming years. This is the biggest growth in Europe.
Baltic Weekly MonitorA