Commission fee for Tallinn souvenir shops

There are days when a guide is arranging city tours for several groups and the fee can be up to EEK 10,000 a day. She claims that the majority of souvenir shops in TallinnOldTown are operating that way. Another guide said that she received 10 percent from the tourist groups purchase sum. Depending on the day it could have been from EEK 100 to EEK 1,000 a day, she said. Laura Taul, the chairman of the Tallinn Guide Association, claimed that guides do not violate the law by accepting the money from shops but the association considers such action unethical. Source http: baltictimes.com news articles 20889

E-Health Europe :: Insurance plan offers care across Europe

The European Health Plan, launched by BUPA International, provides people living in Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia with access to treatment in hospitals or clinics across Europe. It also includes cover for chronic diseases, such as diabetes, worldwide emergency travel and the facility to add dental and optical cover. Cover is priced from Euro 507 per person and includes access to a 24-hour worldwide medical assistance helpline, staffed by advisers who, between them, speak 34 languages. Steven Martin, European development consultant, Bupa International said: The region is developing rapidly and with the European Health Plan, Bupa International is meeting the growing demand for international health insurance from companies and expats, as well as local professionals who want to ensure all their health needs are covered.

Value of Tallinn companies down by EUR 1 billion in six mon

While companies paid out EEK 2 billion in dividends, their value has at the same time gone down by 15 billion kroons. Tõnis Oja writes there is nothing strange since share prices are at the lowest level for the last three and half years. The last time that the Äripäev index that tracks the most traded stock prices in Tallinn was as low as today was in January 2005. TALSE, the official stock index of Tallinn Stock Exchange has not been so low since March 2005. According to Oja, there is an interesting analogoue: six months after the stock market crash in 1997 the value of Estonian listed companies had also fallen by EEK 15 billion. This gives them reason to call it the second stock market crash, with the exception that share prices have been falling by more than half over 18 months.

Riga airport is still leading in the Baltics

Riga International Airport had 1.65 million passengers in the first half of the year 2008, which is 17.4 more than in the same period of 2007. In June, Riga International Airport counted 346,137 passengers, which is 14.4 more than in June 2007 In the first half of the year, Tallinn International Airport had 900,190 passengers Vilnius International Airport 993,509. The favorite destination from Riga was London, and 145,947 people traveled there in the first six months or 9 of the total number of passengers. The second most popular destination was Dublin, with 102,279 or 6.6 of the total number of passengers. In third place was Berlin in fourth and fifth Stockholm and Copenhagen. The most popular airline at Riga International Airport still is Latvia s airBaltic, and 809,255 passengers were carried in the first six months of this year.

HSH Nordbank and European Investment Bank finance deluxe ferryboat for Tallink Grupp

The MS Baltic Princess, built in the Finnish shipyards Aker Yards OY, was delivered today. The ship is 212 meters long, can travel at up to 24 knots and offers among other things room for 2800 passengers, 12 restaurants, bars, shops and a spacious conference center. Credit costs of EUR 132 million were financed and syndicated by HSH Nordbank. By participating in the project, the EIB has undertaken its first commitment in the Structured Finance Programme for the Estonia region. At the deal signing, EIB President Philippe Maystadt, former finance minister of Belgium, indicated that the fact that HSH Nordbank was taking a leading role was a crucial factor in the EIB s decision to participate in financing the MS Baltic Princess. Ansprechpartner: Herr Dr. In its core region of Hamburg and Schleswig-Holstein, it is the market leader in the corporate customer segment.

Pirates release Estonian and ship

The crew of the Lehmann Timber, hijacked off the Somalian coast, was released late July 8. One of the hostages was an Estonian citizen. The ship was in international waters and the company was attempting to put the crew on shore as soon as possible and to give them the necessary assistance. The Foreign Ministry is ready to give assistance to bring the Estonian citizen home as soon as possible, the ministry spokeswoman said. There were 15 people on board the hijacked ship, including four Ukrainian citizens, three Russians, four Panamanians and one Estonian - Ardo Kalle. The Foreign Ministry announced the release of the crew just a few hours after it had refuted a report by the Ukrainian publication Segodnya according to which the pirates released the crew of the Lehmann Timber after being paid the ranson.

Estonia should tackle corrupt foreigners

The altic nation has focused its anti-corruption efforts to date on domestic bribery only, says an OECD Working Group on Bribery. The Estonian public and private sectors accordingly have very low awareness of the foreign bribery offence and the OECD Convention. The 37-country OECD Working Group on Bribery has just completed its Phase 2 review of Estonia s implementation of the OECD Convention on Combating the Bribery of Foreign Public Officials in International Business Transactions. The Group concluded that absence of awareness of foreign bribery warrants strong measures to rectify the situation. There are also deficiencies in Estonia s laws on foreign bribery and on corporate liability for such crimes, the OECD says. The main recommendations of the Working Group are that Estonia should take measures in both the public and private sectors to prevent, detect, and raise awareness of foreign bribery should broaden the criteria for imposing corporate criminal liability and that it should amend the foreign bribery offence in the Penal Code, including expressly covering bribery of foreign officials who perform legislative functions.

Estonian President Draws Russia Line

This conciliatory gesture comes after the president s unsuccessful visit to Russia, during which the Estonian delegation walked out of the Congress of Finno-Ugric Peoples in Khanty-Mansiisk. The president s visit, which ended Monday, was the topic of mush comment in Tallinn, not only for his gesture in Khanty-Mansiisk, but also for his wife Evelin s dress when they visited the residence of Orthodox Patriarch Alexiy II. She wore a skirt that exposed her knees and did not cover her head. On Tuesday evening, Ilves gave a long interview to Estonian television in which he vigorous defended his trip to Russia. He said the Estonian delegation s exit from the Finno-Ugric Congress was nothing more than an annoying incident. He said that was a good constructive atmosphere at his meeting with Russian President Dmitry Medvedev, at which it became clear that Russia considers reaching a border treaty a necessity for good relations.

SEA and EFFEKT architect firms win first prize for Academy.

Art Plaza, by the two young Danish architect firms SEA and EFFEKT, has been awarded 1st prize in the international competition for the new Academy of Arts building in Tallinn, Estonia. The new academy building is situated in the heart of Tallinn. The building contains facilities for the departments of art, architecture, design, and art history. In addition to the academic programme the project includes a library, gallery, shop, conference facilities and a public plaza. The competition had 96 entries from 26 countries. The jury said: The Jury voted Art Plaza as the winner of the competition because it is by far the best proposal when it comes to architectural concept, outer qualities and inner life. The project is stunningly simple and at the same time fascinatingly complex. The outer shape is a beautifully proportioned square tower.

Forbes ranked Estonia 10th

Forbes ranked Estonia 10th in the standing of the best countries for business US business magazine raised Estonia s ranking to 10th in the standing of the best countries for business. More than 120 countries business climate was analyzed, focusing on degrees of personal freedoms and freedom of expression and organization, postimees.ee writes. Estonian was up 24 spots due to the telecommunication company Skype. Denmark was ranked first, followed by Ireland and Finland.