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Estonian Review: October 3-9, 2005 
12.10.2005
TOP NEWS
FOREIGN NEWS
DEFENCE NEWS
ECONOMIC NEWS
CULTURAL NEWS
TOP NEWS
The EU Foreign Ministers discussed further development of the relationship between the European Union and Russia
October 3 - On Monday Foreign Minister Urmas Paet participated at the session of the General Affairs and External Relations Council (GAERC) in Luxembourg. The ministers discussed the EU's common position for the European Union - Russia Summit to take place tomorrow in London, where further development of the EU-Russia relationship is going to be under discussion. As a matter of top priority a political decision concerning the agreement on visa facilitation between the EU and Russia and the agreement on the readmission of persons is on the agenda to be adopted at the Summit. According to Foreign Minister Paet, one has had a long and serious discussion on those agreements within the European Union and what is significant is that all 25 states speak unanimously.
Both the agreements include articles and provisions, which are compromises achieved as a result of long-lasting negotiations, but the visa facilitation agreement and the readmission agreement are necessary for all parties. "What is clear also is that there still is work to be done in the implementation of those agreements. It is in the interests of us all to ensure the equal treatment of our citizens," Paet said. He added that Estonia has always supported the position, pursuant to which concurrently with the visa facilitation agreement, an agreement on the readmission of persons should be concluded. In addition to the citizens of the Russian Federation it would extend to third country nationals having arrived to the European Union through Russia. According to Paet, facilitating registration procedures in Russia has to continue and Russia must confirm this process.
Foreign Minister Paet's comments on starting accession talks with Turkey and Croatia
Oct 4 - On Monday at the European foreign ministers council the main theme discussed was the beginning of EU accession talks with Turkey. EU Foreign Ministers agreed that the only possible solution must be Turkey's entry into accession talks with the Union.
Foreign Minister Urmas Paet expressed his satisfaction that the European Union has once again shown unity and the ability to work together as one. "To the extent that Turkey has aspirations of becoming an EU member, it would serve as a stabilizing factor in the Middle East and would improve overall worldwide security. It's also very important that the beginning of accession talks would give Turkey the added push to carry through positive reform and to modernize society. From prior experience we know how much of a motivating factor this is," the foreign Minister said.
The foreign ministers had decided on the basis of a presentation also to begin accession talks with Croatia.
Gender equality Ombudswoman appointed to office in Estonia
Oct 03 - On Monday the Estonian minister of social affairs appointed Margit Sarv into office as ombudswoman for gender equality. Sarv has studied political science at Tartu University and the Central European University and passed several advanced training courses on gender equality.
Her previous jobs include those of adviser at the office of legal chancellor and professor at the law and public administration department of the Estonian Business School.
The newly appointed ombudswoman was picked from among 10 candidates by a special commission of the State Chancellery. Ombudsman for gender equality is a new position established in Estonia. The ombudsman is an autonomously acting independent and impartial specialist who monitors observance of the gender equality law in the country. The ombudsman's responsibilities include receiving complaints about violations and forming an opinion on them. Sarv was appointed into office for a term of five years.
FOREIGN NEWS
Estonian president appoints ambassador to Russia
Oct 05 - On Wednesday, President Arnold Rüütel signed a resolution to appoint Foreign Ministry Undersecretary Marina Kaljurand, Estonia's new ambassador to Russia. Kaljurand, undersecretary for legal and consular affairs, joined the Foreign Service in 1991. She also serves as the country's ambassador to Israel, based in Tallinn.
Korean, Guatemalan Ambassadors to Estonia present credentials
Oct 06 - Guatemala's Ambassador Susana Barrios Beltranena and the ambassador of South Korea, Park Heung-shin, presented their credentials on Tuesday to Estonian President Arnold Rüütel. The president said in the meeting with the Korean ambassador that relations between the two countries definitely need a boost, especially in the political sphere, and in commerce and culture, the president's office reports.
Rüütel added that Estonia keeps a close watch on the situation in the divided Korean peninsula.
The president told the Guatemalan ambassador that both countries with fast developing economies are bound to be interested in developing bilateral trade. The ambassador of Guatemala is based in the Swedish capital Stockholm and the Korean ambassador resides in Helsinki, Finland's capital.
DEFENCE NEWS
Jürgen Ligi becomes new defence Minister
Oct 07 - On Wednesday Estonian President Arnold Rüütel appointed MP Jürgen Ligi defence minister. Jügen Ligi was born in Tartu on 16 July 1959. He has an MBA in international business from the Estonian Business School. Before serving in the Estonian parliament, he had been a member of the local government council in Kaarma and later the director of EVEA bank in Kuresaare. Ligi speaks English, Russian and Finnish. Members of the Cabinet are appointed to and dismissed from office at the prime minister's proposal by the head of state. They take office after being sworn in.
ECONOMIC NEWS
Estonian Banks have 1.156 Million Internet Banking clients
Oct 05 - At the end of September, Estonian banks had a total of 1,156,155 Internet banking clients and 175,439 telephone service clients.
Compared to the end of August, the five commercial banks won 14,996 new online banking customers last month while the number of telephone service clients grew by 2,518. Hansapank's Internet service, Hanza.net, had 631,974 users at the end of September.
Ühispank's online banking service, U-Net, had 363,319 valid contracts, with 4,902 new clients joining during the month. The number of users of Sampo Pank's Internet service increased by 1,601 to total 102,240 at the end of September. Users of Nordea Bank's Solo Internet service numbered 20,386, an increase of 364 over the preceding month.
Inflation in Estonia to run at 2.5% next year
Oct 03 - In its fresh survey on salary trends, the international consulting company Mercer Human Resource Consulting has estimated annual inflation in Estonia in 2006 to reach 2.5 percent.
The study, Global Compensation Planning Report, cited by the New Zealand newspaper, The National Business Review, says Lithuania, Latvia and Estonia stand to see the biggest pay rises of all the EU member states next year.
Employees in Lithuania, Latvia and Estonia are forecast to receive pay rises of 8.5 percent, 8.3 percent and 7.5 percent respectively, while inflation in the three countries is likely to be 3.0 percent, 5.3 percent and 2.5 percent. At the other extreme, workers in Poland will be worse off with salaries expected to rise by just 3.1 percent, while inflation will be 2.6 percent. Wages in Finland are estimated to rise 3.6 percent and inflation to reach 1.6 percent.
"Although many Eastern European countries have experienced high wage inflation since joining the EU, their labour costs are still extremely competitive," said Mercer's global head of human capital advisory services, Greg Cornish."Multinational organizations continue to look to Eastern Europe for opportunities to set up operations at a much lower cost than in Western Europe," he said.
The Bank of Estonia has estimated inflation in Estonia next year to be a little over three percent. The forecast by Mercer is close to an estimate by the Estonian Finance Ministry, which in August forecast annual inflation in 2006 to reach 2.6 percent.
Home loan rates in Estonia among Europe's lowest
Oct 03 - The annual interest that banks in Estonia are charging on home loans are among the lowest in Europe, and together with the income tax rebates that loan takers here are entitled to Estonians are enjoying the lowest net rates in Europe, the Aripäev business daily reported.
The average margin on new loans has dropped to 1.1 percent per annum, which translates to an annual percentage rate of roughly 3.3 percent. At the same time, no other European Union member state is applying tax rebates to home equity loans as extensively as Estonia, the paper said.
"Taking into account the tax rebate, the effective loan interest rate, that is, the interest that a person actually pays, is 2.5 percent," Erkki Raasuke, board chairman of Hansapank, said at the Business Plan 2006 conference.
"That is a rate at which strong local governments usually get their finance. But in our country effectively a person from the street can do it," he said.
Triin Messimas, home loans development manager with SEB Eesti Ühispank, said that as a matter of fact, the real interest rate on home equity loans in Estonia was negative if one also considered inflation.
Banks in Estonia issued over 13 billion kroons' (EUR 831 mln) worth of home equity loans during the first eight months of this year, compared with seven billion kroons in the same period a year ago.
In each new month home equity loans worth more than two billion kroons are taken out at this point, or 1,500 kroons per every resident of Estonia.
Currency Rates in Kroons
October 9, 2005
British pound - GBP - 22.775
Canadian dollar - CAD - 10.904
Swiss franc - CHF - 10.101
Danish krone - DKK - 2.097
Japanese yen - JPY - 0.114
Latvian lat - LVL - 22.448
Lithuanian lit - LTL - 4.532
Norwegian krone - NOK - 1.983
Russian rouble - RUB - 0.452
Swedish krona - SEK - 1.678
US dollar - USD - 12.865
Euro - EUR - 15.647
CULTURAL NEWS
The new Jõhvi Concert Hall opened its doors
Oct 8 - On Saturday the Jõhvi Concert Hall opened its doors to the general public. The building is multi-functional in terms of being a centre of activity. The main section includes the Grand Hall, which covers an area of 600 m², with 528 seats on the floor level and 234 on the balcony. The removable seating system in the Grand Hall as well as in the Chamber Hall enables the academic atmosphere of a symphony or chamber concert to be transformed into a conference centre, an opera theatre, a pop concert or even a ballroom, when the circumstances call for it. Chamber Hall covers 160 m² with a total of 160 seats.
The building also contains a cinema, music school, hobby centre for young people, educational centre, new age church and a cafe. The architects Ra Luhse and Tanel Tuhal designed the complex.
vmpress@vm.ee
 
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