Saimaa Lines
HR Express
Reval Hotels
International Management Education
Observer Eesti Oü

Estonia Business News: Archive 2003-

WEEK 40.2006

Monday, 2nd of October, 2006

Industrial production grew by 1/10 in August
Estonian industrial enterprises manufactured 10% more in August 2006 than in August 2005. Growth in production of manufacturing trade was the most influenced by foodstuff industry.

Sale of retail trade is stably growing
Conjuncture of retail trade has been favourable for quite some time and sale of goods is growing stably, informed Ministry of Economics. According to statistics department, sale of retail trade companies grew 19% in August compared to respective period in 2005.

Tuesday, 3rd of October, 2006

Baltika’s turnover grew 38% in September
Turnover of Estonian clothes concern Baltica reached EEK 84.3 million in September. Retail sale increased 40% compared to the same month in 2005 and reached EEK 62.3 million; wholesale grew by 35% to EEK 21.2 million. Baltika was able to show decent growth in the Baltic States as well as further; in September retail sale grew the fastest in Latvia (+61%), Russia (+56%) and Estonia (+45%) followed.

Building boom has dragged line of material to Shrove Tuesday
Building boom has led to situation where factories operate at full capacity but market demand for construction materials is much bigger. Lines for doors and windows have been dragged to February. Ago Soomre, manager of Haapsalu door factory says that this year can be called a construction orgy in Estonia. Lasita Aken AS sales manager Hannes Treibert said that there have not been such lines ever before. Reigo Oras from Ehituse ABS notes that they have always wanted to sell more but at the moment company is in a situation where they just do not have anything left to sell.

Wednesday, 4th of October, 2006

Time commends Estonia’s development level
By taking risks in politics and economics, Estonia has become the small country that is able to succeed, wrote Time Europe. Time writes that Estonia has become one of the most developed locations of the planet. Time brought some examples – in Estonia it is possible to use mobile phone for parking, buying bus tickets and observing children’s grades, also more than 80% of returns are filled in Internet. Time considers Estonia’s economy the most dynamic in Europe with 12% growth.

Thursday, 5th of October, 2006

Profit of Tallinn Business Bank doubled
Tallinn Business Bank earned EEK 31.9 million profit in nine months, which is twice as much as during respective period last year. Board President of the Bank Viljar Veskiväli explains that number of private customers has grown by 1/5 compared to beginning of the year and content of private deposits has increased 23%.

Friday, 6th of October, 2006

VP Market grew turnover more than 50%
VP Market’s turnover in Estonia grew 57% in nine months of 2006 to EEK 1.34 billion. Last year company’s turnover was EEK 856 million. OÜ VP Market CEO Arunas Zimnickas explains that opening new stores, finding new customers and favourable prices all helped to grow turnover.

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