Estonia’s and Finland’s electrcity transmission system operators, Elering and Fingrid, have located a fault in the EstLink 2 undersea power cable between the two countries, ERR reports. The location is in the vicinity of the cable landing point on the Estonian coast. The operators concluded that the fault was not caused by external damage. The…
The EstLink 2 submarine power cable between Estonia and Finland went offline on the night of 25-26 January 2024, ERR reported. The cause and exact location of the outage are still unknown. Estonia’s transmission system operator, Elering, assured that there was no threat to the security of electricity supplies to Estonia. The EstLink 1 power…
The customs authorities of the three Baltic States have agreed on uniform application of EU sanctions against Russia and Belarus, BNS reports. The directors of the Estonian, Latvian, and Lithuanian customs departments agreed to introduce stricter controls on sanctioned goods exported to or transiting through Russia and Belarus to third countries. The measures include requiring…
Estonia’s second-largest commercial bank, SEB Pank, posted a net profit of EUR 231.7mn in 2023, which was a double increase from EUR 115.9mn in 2022, ERR reports. SEB’s operating income amounted to EUR 356mn (EUR 206.9mn) and operating expenses to EUR 78.4mn (EUR 69.1mn). CEO Allan Parik attributed the high profit to the rapid rise…
The representative of the spiritual leader of the Tibetan people, the Dalai Lama, in Northern Europe, Sonam Frasi, and the head of the Tibetan government in exile, Penpa Tsering, visited the Estonian parliament, the Riigikogu, ERR reports. The Tibetan representatives talked at a hearing on the legal status of Tibet. The event was organised by…
The Estonian government plans to split the state-owned energy group, Eesti Energia, into three separate companies, Finance Minister Mart Võrklaev announced, ERR reports. He said that the plan was to list shares of network operator Elektrilevi and renewable energy producer Enefit Green on the stock exchange. However, Võrklaev said that he was no longer in…
Estonian Prime Minister Kaja Kallas announced that she will not attend the Independence Day reception at the Estonia Theatre in Tallinn on 24 February 2024, ERR reports. Earlier, President Alar Karis decided not to invite most MPs to this year’s reception. Several MPs have expressed displeasure at the President’s decision. Kallas said that she would…
Estonia’s Swedbank posted a net profit of EUR 385mn in 2023, which was up EUR 193mn (nearly 100%) from the same period of 2022, ERR reports. Revenue rose by EUR 309mn over a year, with net interest income up EUR 244mn. New loans issued to private customers amounted to EUR 1.05bn (up 5%) and to…
The decision of the three Baltic States to build a “Baltic defence line” is preparation for a possible Russian attack, Lithuanian Foreign Minister Gabrielius Landsbergis stated, BNS reports. He said that the move served as a political message, seeking to draw the attention of allies to the threat posed by Russia. “If Russia is not…