closing bread business and wealthy fellow citizens

Rising energy prices gave the company the last blow.Photo: Margus Muld/ERR/Scanpix

This week, the readers of Äripää spoke to the story of the bread industry, which closed its business in fear of incoming energy bills. But in addition to the experience story of the struggling company, the top of the top – our earliest players – also came into the orbit of interest.

Saare Leib, which made bread and pastries, will close its doors at the end of the year. Employees of the bread business received a layoff notice this week.

How did it go? The costs were collected already in December last year, when the bread baking was stopped, but it was not enough. Energy and raw material prices did not show mercy.

“It has to be stopped in time, before things get completely out of hand,” said Janar Vaima, manager of Saare Leiva. Read the story here.

They turned out to be the richest

If it is otherwise a well-known expression among Estonians that it is not polite to rummage through other people’s wallets, Äripää’s rich TOP is an exception. Äripäev ranked the 500 richest entrepreneurs, the first three of whom are actually billionaires.
This year’s TOP has a total of 71 newcomers, among whom you can find the athlete Ott Tänaku, the scientist Mart Ustavi and the manager of Tavid, Kuno Räägu.
In addition, journalists opened the background of the rich in a different way than before – colleagues and other players in the same field spoke. Read how Bolt grew under the leadership of Markus Villigu and how Kristo Käärmann manages the technology company Wise.
Next to Äripää’s rich TOP, an overview of the top layer of the world’s rich was also published and you can read it here.

Auvere is under repair again, prices are rising

The Auvere power plant owned by Eesti Energia, which could produce a quarter of Estonia’s electricity consumption, will undergo repairs for 45 days.

The concern, however, is that the station is only under repair – at least that’s how it seems. During its seven years of existence, the Auvere power plant has been shut down for almost four years due to breakdowns and maintenance.

Energy expert Urmas Voit said that another repair of Auvere will also increase electricity prices. Andres Vainola, chairman of the board of Enefit Power, blames the situation on the French, who built the station.

The full story of the Curse of Auvere can be read here.

Putin is suppressed

With the announcement of mobilization in Russia, the holding of pseudo-referendums and the threat of a nuclear strike, Vladimir Putin set a new narrative of Russia’s war in Ukraine, Igor Rõtov, director general of Äripää, said in the “Hot Seat” program.

“What used to be a special military operation to liberate Donbass is now Russia’s holy fight against the collective West,” said Rõtov, who said that the reaction of Russian society has not been as repulsive as it sometimes seems to us from the Western media image.

The show covered pseudo-referendums in Ukrainian regions that don’t even claim legitimacy, and psychological warfare over Putin’s threat to use nuclear weapons. Rõtov, who systematically follows Russian- and Ukrainian-language sources, gave an overview of which channels it is worth looking for information about what is happening in Russia and Ukraine.

The portals offer discounted real estate sales

The situation on the real estate market was also a topic of interest for readers. On real estate portals, apartments have more affordable price tags and more and more properties are being put up for sale, experts confirm.

According to real estate professionals, only a little air is being let out of the market. However, this does not mean that prices will crash.

“If you take a balloon and overinflate it madly, you have two options: you wait until the room gets warmer and the balloon breaks, or you are smart and untie the balloon and let some air out. But that doesn’t mean the balloon deflates right away should go,” replied Pindi Kinnisvara sales partner Peep Sooman. Read more here.

The week was also summarized in the program “Äripäev eteris”, where concerns about gas were raised. The terminal should be operational in a few months, but the construction of the haulage pier and the connection of the gas pipeline to the main network are accompanied by a war of words and finger-pointing between the parties.

Swedbank: for Tallinn residents, the affordability of an apartment has fallen to the level of 2009

People’s confidence has fallen even more than that of companies: buying an apartment in the capital is as affordable as it was in 2009, and one’s financial situation is considered as good as in 1993, noted Swedbank economist Marianna Rõbinskaja.

People’s confidence has fallen even more than that of companies: buying an apartment in the capital is as affordable as it was in 2009, and one’s financial situation is considered as good as in 1993, noted Swedbank economist Marianna Rõbinskaja.

In times of crisis, even different calculations are alarming

Although reaching different results in the price of public electricity was expected, the current dispute over it still sends the wrong signal to society, writes Äripäev in its editorial.

Although reaching different results in the price of public electricity was expected, the current dispute over it still sends the wrong signal to society, writes Äripäev in its editorial.

Carnival’s results fell well short of estimates Carnival shares fall 20%

Carnival shares fell 20% to $7.33 in midday trading, hitting a near 30-year low.

Carnival shares fell 20% to $7.33 in midday trading, hitting a near 30-year low.

Lemeks earned record turnover and profit last year

Last year, the turnover of Lemeks AS was 193 million euros, which was 61% higher than the previous year’s turnover. According to Jüri Külvik, the chairman of the board of the company, the reason for the good year was that the money that was not spent during the corona was invested in the renovation of homes in Estonia and Europe, which led to a sharp increase in the sale of wooden products.

Last year, the turnover of Lemeks AS was 193 million euros, which was 61% higher than the previous year’s turnover. According to Jüri Külvik, the chairman of the board of the company, the reason for the good year was that the money that was not spent during the corona was invested in the renovation of homes in Estonia and Europe, which led to a sharp increase in the sale of wooden products.

From Jüri Ratasest, a trainer of top managers: dance shows don’t help here either Assessments of well-known Estonian leaders

Today, Jüri Ratas has played himself down once and for all, and these dance shows probably won’t help either, said professor and trainer Mare Pork in the new radio program “Äripää sääääskool”.

Today, Jüri Ratas has played himself down once and for all, and these dance shows probably won’t help either, said professor and trainer Mare Pork in the new radio program “Äripää sääääskool”.

Ukraine is applying for NATO membership in an accelerated procedure

According to Ukrainian President Volodymyr Zelenskyi, Ukraine is applying to join NATO in an accelerated manner.

According to Ukrainian President Volodymyr Zelenskyi, Ukraine is applying to join NATO in an accelerated manner.

Russia announced the annexation of Ukrainian regions

Russian President Vladimir Putin signed the annexation of Ukrainian regions where the occupation authorities had previously held internationally unrecognized referendums.

Russian President Vladimir Putin signed the annexation of Ukrainian regions where the occupation authorities had previously held internationally unrecognized referendums.

A victim of energy prices: this will be the last year for the bread industry with a long history

The employees of Saare Leiva, who have been making familiar breads and pastries from store shelves, will receive a layoff notice today, as the company will close its doors at the end of the year.

The employees of Saare Leiva, who have been making familiar breads and pastries from store shelves, will receive a layoff notice today, as the company will close its doors at the end of the year.


Source: https://www.aripaev.ee/ by www.aripaev.ee.

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