Summed up

ESTONIA'S STATE NEWS AGENCY FOR SALE: The Estonian Privatization
Agency Oct. 1 announced bidding in writing for 100 percent of the
shares in the state news agency ETA. The starting price is 470,000
kroons ($32,650) with sale to the highest bidder. The nominal value
of the ETA shares is 13.21 million kroons. The bidding deadline is 2
p.m., Nov. 22. Up to 50 percent of the purchase price can be paid in
EVP privatization vouchers. ETA is operating at a loss.

ESTONIA'S WAGE GAP BETWEEN MEN, WOMEN: A survey conducted jointly by
the Estonian Social Affairs Ministry and the Finnish Labor Ministry
shows that Estonia, the leader among the three Baltic countries in
average wage, has also the biggest difference between the pay level
of men and women. The survey, titled "Labor Life Barometer," also
shows the share of undeclared income in people's overall income in
Estonia is bigger than in Latvia or Lithuania.

ESTONIANS TO ENTER JAPAN VISA FREE: Estonian citizens will be able to
enter Japan without visas starting from December; Estonia
unilaterally scrapped visa requirements for the Japanese in June
1993. Estonian Foreign Minister Toomas Hendrik Ilves and Japanese
Ambassador Yasuji Ishigaki will exchange notes on Monday on the
abolition of the visa requirement from Dec. 1, a Foreign Ministry
spokesman said. Estonian citizens will be able to stay in Japan for
up to 90 days at a time.

HANSABANK DROPS MORTGAGE INTEREST: Credits made in U.S. dollars will
have annual rates at 11 percent to 15 percent as of Nov. 1 while for
loans made in euros the rates will be 9 percent to 13 percent per
annum. Previously the rates for Hansabanka's mortgage loans were 12
percent to 16 percent a year for dollar loans and 10 percent to 14
percent a year for euro loans. "Assessing the current credit risk in
comparison with the situation like it was a year or two ago, we see a
gradual stabilization of the customer purchasing power and real
estate market in Latvia," Hansabanka board member Viesturs
Kulikovskis said. Late in September Hansabanka's credit portfolio
totaled 74.8 million lats ($131.23 million)

BASKETBALLERS SCORE IN BUSINESS: If one plays basketball, it is very
easy to find a way into business in Latvia, said Zenon Olbris,
president of Baltijas Tranzita Banka. "The fact that I play
basketball has helped me very much," said Olbris, who was confirmed
as the new BTB president this month. It is no secret that many
Latvian politicians and businessmen had either been professional
basketball players in the past or just enjoyed the game as a hobby.
The most popular former basketball players now holding high political
offices or managing successful businesses include the former Prime
Minister Vilis Kristopans and President's Chancellery head Martins
Bondars.

BREWER TO CUT JOBS: The new owners of Lithuania's brewery Ragutis
plan to cut employees as part of re-organization in the Kaunas-based
beer producer. The company, fifth among Lithuanian brewers, currently
employs around 300 people. Some 26 employees at the plant have
received lay-off notices. Finland's Olvi has recently acquired 49.98
percent of shares in Ragutis, with another 5.5 percent held by the
state, and the rest owned by small shareholders. The company plans to
reduce the number of employees to 140, said Kestutis Paplauskas,
Ragutis' director general. Ragutis saw its net profit slump 76.2
percent year-on-year over the first nine months.

LITHUANIA'S INTEREST CALCULATION CHANGES: The executive board of the
Bank of Lithuania on OCT. 28 confirmed the adoption of a new method
for setting interest rates on loans from the central bank. A changing
rate of interest for one-day and liquidity loans will be linked to
the interbank money market indicator VILIBOR. Interest rates for Bank
of Lithuania liquidity loans will be set 4 percentage points higher
than the average VILIBOR money market rate for the preceding 30 days,
and for one-day loans, 2 points higher than the highest VILIBOR rate
for the preceding 15 days. Previously, the interest rate for these
loans was fixed at 13 percent.

LITHUANIAN GAS STILL HOPES FOR MONEY: Lietuvos Dujos has repaid 7
million litas ($1.75 million) of a 33.33 million litas loan to
Merrill Lynch as of Oct. 28. The state-owned gas distributor took the
funds out of its working capital because it has failed to borrow
money from Lithuanian banks so far. Lietuvos Dujos had been due to
repay the loan on October 20.

LITHUANIAN ENERGY LOOKS FOR WESTERN MONEY: The cash-strapped energy
company Lietuvos Energija is borrowing money in the West to replenish
its working capital. The state-owned energy distributor has recently
signed an agreement with Landesbank Schleswig-Holstein Girozentrale
under which the German bank will issue a loan of $5 million at a
floating annual interest rate (LIBOR+3.5 percent).