Posts published in Day: July 7, 2021

Wise worth €9.3 billion on London Stock Exchange debut

Wednesday, July 7, 2021

Wise, the international money transfer service founded by Estonian entrepreneurs, entered the London stock market Wednesday, valued at £8 billion, or €9.3 billion, in a key post-Brexit test for the sector. The global money transfer specialist, formerly known as Transferwise, launched at £8 per share under a so-called direct listing, which does not seek to raise capital but enables public trading. The operation is cheaper and more transparent than a…

SEB: Rapid inflation relates to low 2020 reference base

Wednesday, July 7, 2021

Inflation of close to four percent on year to June is primarily down to the low reference base in 2020, the year the coronavirus arrived, according to one expert. SEB economic analyst Mihkel Nestor told BNS that: “The growth in consumer prices clearly reflects the recovery of the economy from the coronavirus crisis.” The consumer price index (CPI) increased in June by 3.8 percent compared with June 2020, and by…

Aid measure for electric car purchases should continue

Wednesday, July 7, 2021

An analysis of the need for a subsidy for the purchase of electric vehicles and of the market situation of electric cars and their charging infrastructure in Estonia found that the support measure for acquiring fully electric vehicles should continue. Mart Kiis, adviser at the climate department of the Ministry of the Environment, said that the study commissioned in cooperation between the Ministry of the Environment, Ministry of Economic Affairs…

Poland, Lithuania and Ukraine FMs sign Road Map to Lublin Triangle

Wednesday, July 7, 2021

On Wednesday morning, the heads of diplomacy of Poland (Zbigniew Rau), Lithuania (Gabrielius Landsbergis) and of Ukraine (Dmytro Kuleba) signed the Road Map to the Lublin Triangle agreement and the Declaration on Common Heritage and Values ​​at the Palace of Rulers in Vilnius, the capital of Lithuania. The signing of the Declaration of Common Heritage and Values is related to the 230th anniversary of the Constitution of 3 May. The…

Overpriced bids submitted to Rail Baltic design procurement

Wednesday, July 7, 2021

The bids submitted to the design procurement of Rail Baltic have been overpriced, resulting in failed tenders, according to Tõnu Grünberg, CEO of Rail Baltic Estonia, Postimees reports. Rail Baltic’s biggest challenge is at present completing the design of the main railway corridor and subsequently acquiring the relevant properties. All objects are currently being designed, the first of them has been completed and procurements for the remaining 14 objects –…

Increased costs of construction in Estonia causes state to revise investment plans

Wednesday, July 7, 2021

As the costs of construction go up, it gives the state’s coffers a significant blow. Mayor of Tallinn Mihhail Kõlvart (Center) notes that the public sector could cool the market some and delay a few investments. Pootsman, one of the most fascinating residents of Tallinn Zoo, is currently in Slovenia attempting to seduce local tiger girl Vita. Pootsman has been travelling around Europe for three years now and the hope…

48 new Covid cases in Latvia

Wednesday, July 7, 2021

On Wednesday, July 7, Latvia reported 48 new cases of Covid-19 infection, according to the Disease Prevention and Control Center (SPKC). The total number of cases detected since the start of the pandemic now stands at 137,747. Of 6,891 tests carried out in the past 24 hours, 0.7% were positive, consistent with the roughly 0.5% rate of recent days. The 14-day cumulative infection rate per 100,000 inhabitants continued its decline, from 38.2 Tuesday to 35.4 Wednesday.…

Teachers’ wages set to rise in Latvia

Wednesday, July 7, 2021

Starting from September, the minimum monthly wage for teachers in general education schools will be raised to EUR 830, and for preschool teachers – to EUR 872, the LETA newswire reported July 6. The Cabinet of Ministers on Tuesday supported a plan that wages of teachers in general education schools will be increased by 5.1 percent – from EUR 790 to EUR 830, and for preschool teachers by 10.4 percent –…

Plant wonders: needles for medicine, construction, and more

Wednesday, July 7, 2021

The economic importance of Latvia’s forests in the timber trade is well known, but a topical question is how to use the evergreen parts of trees. Pine and spruce needles offer a number of solutions in this respect. Needles have long been known as a cure for cough. However, scientists find more and more uses, for example, needles can also be used as thermal insulation materials for construction. Research on the chemical…

Consumer price index up 3.8 percent compared to June 2020

Wednesday, July 7, 2021

The consumer price index in June increased by 1.2 percent from May of this year and is up 3.8 percent from June last year, data from Statistics Estonia shows. Goods were 3.1 percent and services 5.0 percent more expensive than in June last year. Viktoria Trasanov, an analyst at Statistics Estonia, said that compared to June 2020, the consumer price index was again influenced the most by price increases of…