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The glass half-full

Ago Vilu, Partner PwC

For almost 20 years, PwC has been conducting global CEO surveys in order to get their perspective on economic development and business climate. For the latest survey that was unveiled recently in the Davos Economic Forum, more than 1,300 CEOs from 68 countries were interviewed. A similar survey that we carried out at the same time among Estonian CEOs showed that most of them are convinced that despite certain insecurity, the „glass” should still be regarded as half-full rather than half-empty.

 

Energy markets reaching a tipping point

Teet Tender, Head of PwC Advisors Estonia

Currently issued PwC Annual Global Power & Utilities Survey has examined the pressures building up on the traditional power utility business model and the industry’s viewpoint on the transformative changes that lie ahead.

 

Times they are a-changing: for governments

Erki Mägi, PwC Advisors

Many Estonians, who graduated in Soviet time, probably still remember from history classes the Marxist-Leninist definition of revolutionary situation, which is when the ruling classes can’t continue living as they’ve used to and the lower classes don’t want to.

 

Economic value of gold – more than meets the eye.

Stan Nahkor, PwC

PwC has recently completed an analysis on the direct economic and fiscal contribution of gold in the world’s major gold producing and consuming countries. The key measure that was used is gross value added (GVA), which measures the contribution to gross domestic product (GDP), employment and taxes paid.

 

Estonian managers more optimistic than their European colleagues

Teet Tender, Head of PwC Advisors Estonia

The 16th PwC Global CEO Survey was presented at this year's World Economic Forum in Davos. 1,330 top managers from over 60 countries were interviewed for the survey. This was the first time the survey was separately carried out among top managers in Estonia.

 

Overview of the Estonian economy

Olavi Grünvald, PricewaterhouseCoopers

The Estonian economy grew by 3.5 per cent in the third quarter of 2012, which was impressive in the European context. The economy of the European Union, on average, contracted in the second as well as the third quarters of last year. This decline was led by euro zone countries - including large nations such as Italy and Spain as well as smaller ones, namely Greece, Portugal and Cyprus.

 

Estonia and CEE: Moving up the value chain

Mihkel Lauk, PricewaterhouseCoopers

With investment from the Eurozone and respective export markets stalling, Estonia as well as the other countries in Central and Eastern Europe (CEE) with a similar starting position 20 years ago, are already shifting their focus of growth toward higher-value production and services.

 

Estonian tax treatment of franchise agreements

Iren Koplimets, PwC Leading Tax Adviser

Over the past year the Estonian media has published several pieces on major multinational brands planning to start up in Estonia (for example Starbucks and Subway). Often the preferred strategy for multinationals to enter new markets is to work with local partners via franchise agreements.

 

Estonian Economic Overview

Olavi Grünvald, PricewaterhouseCoopers

The key question facing economists for at least the next one or two years is how the economy is to withstand Eurozone turbulence. At the beginning of October the Parliament ratified an act related to the 700 billion Euros lending capacity of European Stability Mechanism (ESM) and European Financial Stability Facility (EFSF). Parliament also approved the early settlement of the second payment into the ESM fund, which according to Minister of Finance, was needed to convince the markets of Estonia’s reliability as a partner on the international stage. The total contribution of Estonia to ESM will amount to 148 million Euros payable over a five year period.