The Baltic banking group, Luminor Bank, made a net profit of EUR 53.2mn in the second quarter of 2023, which was up 81% from the same period of 2022, ERR reports. The group attributed the sharp rise in profit to an improvement in net interest income. Meanwhile, operating expenses increased by 72% amid investments in…
The Estonian Tax and Customs Board (EMTA) collected EUR 6.12bn in taxes in the first half of 2023, which was 4.8% more than in the same period of 2022, ERR reports. State budget revenue amounted to 47.4% of the annual budget target. Social tax revenue rose by 12.2%, personal income tax revenue by 11.7%, and…
Estonia should strengthen cooperation with Taiwan and consider opening a Taiwanese representative office (Taipei Mission) in Tallinn, Marko Mihkelson, chairman of the foreign affairs committee of the Estonian parliament, the Riigikogu, stated, ERR reports. Speaking after a joint visit by the heads of the foreign affairs committees of Baltic parliaments to Taiwan, Mihkelson noted that…
The number of foreign tourists visiting Estonia totalled 1,110,431 in the second quarter of 2023, which was up 19% from the same period of 2022, according to data from the Bank of Estonia, ERR reports. Foreign tourists spent a total of EUR 375mn in Estonia, which was EUR 62mn more than a year earlier. Meanwhile,…
Estonia’s state-owned port operator, Port of Tallinn (Tallinna Sadam), generated sales revenue of EUR 57mn in the first half of 2023, which was almost unchanged from a year earlier, ERR reports. The port’s adjusted EBITDA fell by 12% from a year earlier. Net profit stood at EUR 7mn, which was down 42% over a year….
Latvia’s national air carrier, airBaltic, posted the highest ever revenue and profit in the company’s history in the first half of 2023, LSM reports. The company’s six-month revenue totalled EUR 291mn, which was up 52% from a year earlier. Net profit amounted to EUR 14.6mn, which was up sharply from a net loss of EUR…
The state budget control select committee of Estonia’s parliament, the Riigikogu, held an extraordinary session on 8 August 2023 to discuss a controversy over alleged “horse trading” by the Office of the President, ERR reports. Earlier, presidential adviser Toomas Sildam had an informal discussion with Merike Saks, secretary general of the Ministry of Finance, in…
Estonia’s goods exports totalled EUR 4.8bn in the second quarter of 2023, which was down 11% from the same period of 2022, according to Statistics Estonia’s data, ERR reports. Imports totalled EUR 5.6bn, which was down 15% over a year. Estonia’s trade deficit thus stood at EUR 802mn, which was down by EUR 329mn from…
Estonia should prioritise trade with free democratic societies, where the political risk is smallest, Estonian MEP Urmas Paet (Reform/Renew Europe), deputy chairman of the European Parliament’s foreign affairs committee, argues. Writing in an opinion piece for ERR, Paet criticised Estonia’s state-run export promotion agency, Enterprise Estonia, for advocating closer economic ties with Vietnam, which has…