Estonia’s retail trade turnover fell by 9% in the first half of 2023 from a year earlier at constant prices, according to data from Statistics Estonia, ERR reports. In June 2023, retail trade turnover totalled EUR 896mn, which was down 8% over a year. Retail sales in stores selling manufactured goods fell by 12% over…
Estonia’s largest security firms increased their turnover and profit in 2022, ERR reports. G4S Eesti’s revenue totalled EUR 59.5mn in 2022, which was up 6% from 2021. The company’s annual profit amounted to EUR 1.9mn, which was up from a loss of EUR 300,000 a year earlier. G4S Eesti employed 1,880 people in 2022. Retail…
The Estonian Competition Authority (Konkurentsiamet) has approved a takeover of Tallinn’s municipal company, Tallinna Soojus, by private energy group Utilitas, ERR reports. Following the takeover, Tallinna Soojus and Utilitas will establish a new joint venture, Utilitas Tallinna Soojus, which will become the new parent company of Tallinna Soojus. Utilitas will own 66.66% and Tallinn municipality…
Around 400 bicycles have been reported stolen in Estonia so far in 2023, ERR reports. Reported thefts in Harjumaa county number 300, which is 70% more than a year earlier. Kaido Atspol, detective at the East Harjumaa Police Department, said that most cases of bicycle theft took place in central Tallinn. Owners usually buy new…
An investigation of the wreck of the MS Estonia passenger ferry has found no evidence that would contradict the official report on the accident, ERR reports. Märt Ots, director of the Estonian Safety Investigation Bureau (OJK), said that the international investigation team would build a digital model of the vessel in 2024. The final report…
Estonia’s Ministry of Climate has proposed ending universal electricity service contracts automatically, ERR reports. Under the proposal, customers with universal service would be switched automatically to state-owned energy group Eesti Energia’s general service if the average market price of electricity remains below the universal service price for three consecutive months. Eesti Energia’s general service would…
African swine fever (ASF) was detected at Estonian pig farming company Rakvere Farmid’s farm in Põlvamaa county, ERR reports. The farm in the village of Lutsu has more than 9,000 pigs, and all of them will now be slaughtered. Quarantine restrictions are in place around the farm. Markus Kirsberg, CEO of Finnish meat processing group…
The Estonian developer of autonomous vehicles, Clevon, plans to delist its shares from the Nasdaq First North stock exchange without taking over the shares of the company’s minority shareholders, ERR reports. Earlier, the loss-making company announced that it would delist and buy out its minority shareholders. However, Clevon has failed to find an investor to…
The Estonian Competition Authority (Konkurentsiamet) has approved Finnish meat processing group HKScan’s sale of its Baltic businesses to Estonia’s Maag Grupp, LSM reports. However, Maag Grupp will have to sell two of its major food brands, Rannamõisa and Rannarootsi Lihatööstus, ERR reports. Under the deal signed in December 2022, Maag Grupp will acquire HKScan’s Rakvere…