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The citizen of Somalia detained in the Tallinn Airport in possession of drugs

The citizen of Somalia detained in the Tallinn Airport who was in possession of a large amount of drugs might have been testing Estonia as a possible transit country for drugs, writes the National Broadcasting. The employees of the Tax and Customs Board detained at the Tallinn Airport a Somalian national named Ahmed whose only luggage was eight and a half kilograms of exotic drug khat. In Europe those...

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Tallinn bourse cut equity capital by EEK 16 mln

Sandra Taimre sandra.taimre @ aripaev.ee AS Tallinn Stock Exchange cut the equity capital over EEK 16 mln. The stock exchange was motivated by the ending income tax exemption. The shareholders of TSE decided on June 11 to decrease the equity capital from EEK 27,360,000 to EEK 10,944,000. According to the constitution, equity capital of TSE has to amount at least EEK 10 mln, aripaev.ee writes. Tex Vertamann,...

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Estonian Air raises fuel fees for one-way tickets

Juhan Tere Starting from July 12, Estonian Air raised extra fuel surcharge on plane tickets by 94 kroons, writes EPL Online. On the routes between Tallinn and Helsinki, Vilnius and Kuressaare the fuel surcharge will amount to 249 kroons (16 euros) and on all other regular flights the fuel fees will be 329 kroons (21 euros). These fuel fees apply on one-way tickets. The extra fuel surcharge will apply...

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Estonia mulls state sell-off

TALLINN -- Estonia's Ministry of Economy and Communications is studying which state-owned companies and at which conditions could be privatized, the daily Eesti Paevaleht claims. Under scrutiny are five companies -- Eesti Post, Eesti Energia, Eesti Raudtee (Estonian Railway), Tallinna Sad

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Swedish Vacation Update - Estonian edition

I just came back from a brief trip to Tallinn via the Victoria ferry. The ferry system connects many of the countries bordering the Baltic Sea and (if I understand correctly) us part of the European highway system. They are more than just a way to get from point A to point B however and offer [...]

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Experts: Apartment buildings from Soviet time last 150 years

Sandra Taimre sandra.taimre @ aripaev.ee According to the specialists, the apartment buildings constructed at the beginning of 1960s all over the Soviet Union and therefore also in Tallinn suburbs should last about 150 years. Latvian portal Nams24 disclosed the results of the research which show that the majority of the houses’ lifetime will exceed their estimated lifetime (60-70 years) twice, postimees.ee...

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Estonian ingenuity is on display at Rouge Energy Park

By Marge Tubalkain-Trell TALLINN - Naturally beautiful Oobikuorg is as far from Tallinn as it is from being an ordinary tourist trap. What makes the place beautiful are its views and lakes, but what makes it unique is the legacy of Friedrich Johanson, a brilliant man who led a difficult life. To provide power for his family’s small farm, Johanson began construction on his own hydroelectric power plant...

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The great language myth

By Vincent Freeman with additional reporting by Adam Mullett TALLINN-VILNIUS - Estonians can be strange people. Not only do they dislike Russian speakers speaking Russian, they don’t like Finnish tourists speaking Finnish. “We are not in Finland. If you can’t speak Estonian, speak English” would be a typical response. It’s understandable that Estonians prefer English — it is, after all, an international...

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International passenger rail operator struggles to survive

Toomas Hõbemägi Estonian passenger rail company GoRail that announced terminating its Tallinn-St. Petersburg rail service is struggling. Eesti Päevaleht writes that the company itself named high infrastructure and fuel costs as the reasons why it has decided to close the Tallinn-St. Petersburg service. While higher costs are definitely true since the company that a year ago paid EEK 135,000 a month...

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Over supply of warehouses nudges prices lower

Gertrud Levit gertrud.levit @ aripaev.ee As supply of warehouses in Tallinn and Tartu has increased and demand has lowered, there is pressure to lower prices, is written in the Q2 market overview of Uus Maa Kinnisvarabüroo. There are plenty of offers at project level at the real estate market, but developers are waiting for customers for whom to construct the building. Looking for such room allows...

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Rio Ferdinand Attended Reception at Home of KC Grupp Owner

TALLINN, Estonia--(BUSINESS WIRE)--Margus Reinsalu, an Estonian entrepreneur and owner of real estate

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Rio Ferdinand Attended Reception at Home of KC Grupp Owner (Business Wire via Yahoo! Finance)

TALLINN, Estonia—-Margus Reinsalu, an Estonian entrepreneur and owner of real estate development company KC Grupp, is one of the partners in the development of Le Jardin de Fleur - an area, which is to be transformed from the unknown coastline into a major holiday destination with the King Mohammed VI’s Vision 2010 scheme.

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Estonian Securities market in the first half Of 2008

In the first half of this year, the Baltic securities markets were characterised by low trading activity and a modest decrease in prices. Since the beginning of the year, the reference index OMX Baltic Benchmark has decreased by 21%, the index OMX Tallinn decreased by 21.33% down to 584.10 points. Within half a year, 31,468 stock exchange transactions were made on NASDAQ OMX Tallinn Stock Exchange,...

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Over supply of mediocre new apartments in Tallinn

Gertrud Levit gertrud.levit @ aripaev.ee Uus Maa Kinnisvarabüroo market overview of Q2 of 2008 shows that Estonia’s capital has an over supply of new apartments with mediocre refinement level and the most sought after apartments are those needing fixing up in city centre and in suburbs. The overview says that there’s a clear over supply of new apartments with mediocre refinement level. At the same...

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Olev Schults : Tallinn Airport should try harder

Gertrud Levit gertrud.levit @ aripaev.ee Chairman of the board of Estonian Air, Olev Schults, told aripaev.ee in an online interview that a monopoly is bad and Tallinn Airport, as an important part of national infrastructure and gateway to Estonia, should try harder. A reader wondered if Estonian Air is satisfied with the situation where Tallinn Airport owns a monopoly, even though he feared that Schults...