Estonia

Estonia introduces the travel-free travel fair

Tallinn - Estonia has already given the world the internet telephone service Skype and recently opened a NATO cyberdefence academy in its capital, Tallinn.

Now the Baltic nation, which is so in love with all things online that it sometimes brands itself "e-stonia," has come up with another internet first - a virtual travel fair.

The inaugural online travel fair, entitled "Travel Expo," runs October 27 through November 5. It is the idea of Estonian company Online Expo, run by young entrepreneurs Anna Lepp and Sergei Semjonov.

Estonia in recession until 2010, says central bank

Estonia in recession until 2010, says central bank Tallinn - The Estonian economy is set to remain in recession until 2010 according to a forecast published Wednesday by the Estonian central bank, Eesti Pank.

According to the base scenario of Eesti Pank's 2008 autumn forecast, Estonia's gross domestic product will decline by 1.8 per cent in 2008 and by 2.1 per cent in 2009.

The economy should pick up again either at the end of 2009 or at the beginning of 2010, resulting in an average economic growth rate for 2010 of 3 per cent, Eesti Pank believes.

Estonian taxpayers fund first lady's rollerblading hobby

Tallinn - Estonian taxpayers have been subsidizing the Estonian first lady's love of rollerblading to the tune of nearly 30,000 kroons (2,500 US dollars), it was reported Tuesday.

A report in the Estonian business daily Aripaev said the public money was spent on plane tickets and accommodation for Evelin Ilves, wife of Estonian President Toomas Hendrik Ilves, on recent trips during which she took part in rollerblading marathons.

The office of the president confirmed to dpa Deutsche Presse- Agentur that the figures quoted by the press were accurate, but noted that the trips had included "official duties" as well as the freewheeling events.

Estonian quarterly inflation rises

Estonian quarterly inflation risesRiga/Tallinn - Estonia's consumer price index (CPI) rose 1.6 per cent in the third quarter of 2008, according to statistics released Monday.

Prices in the Baltic nation rose by 10.9 per cent compared to the previous third quarter.

The latest figures were mainly influenced by price increases of alcoholic beverages and tobacco, but were mollified by decreases in the price of fresh vegetables.

Estonia's annual inflation currently stands at 10.5 per cent, but appears to be on a downward trend after peaking earlier this year.

Russian foundling being cared for in Estonia

Tallinn - A young Russian-born girl abandoned in the Estonian capital, Tallinn, remains in the care of local social services nearly a week after she was found.

The two-year-old was found alone near a shopping centre in Tallinn last Saturday, sparking a widespread media campaign in an effort to identify her.

That paid dividends on Tuesday when a relative contacted police and revealed the girl was born to Russian parents but sent to Estonia to live with an uncle. Estonia has a sizeable ethnic Russian minority, accounting for around a quarter of the population.

Top 100 Estonian companies worth over 26 billion dollars

Riga/Tallinn - The most valuable company in Estonia is the local subsidiary of Swedish bank Swedbank, according to a new list of the Baltic nation's top 100 businesses issued October 17.

Hansapank, recently rebranded to match the Swedbank name of its parent company, is worth 71.7 billion Estonian kroons (5.6 billion euros) according to the annual GILD100 rankings produced by Tallinn- based investment house GILD Bankers.

Second place was taken by electricity generator Eesti Energia, worth 1.6 billion euros, with another Scandinavian-owned bank, SEB, in third place with a market value of 1.2 billion euros.

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