EconomyOther Economy

US Law Firm Claims Environment Ministry Ignoring Generous Offer

Bratislava, December 23 (TASR) - The American law firm Skadden Arps Slate Meagher & Flom LLP has upped the ante for the remaining millions of tones of unused emission quotas by offering a sum that is at least €168-million higher than what the Environment Ministry is currently anticipating to sell the quotas for, the company announced on Thursday. Several price offers… read more

NBS: GDP Growth in Slovakia to Decelerate to 3.3 percent in 4Q10

Bratislava, December 23 (TASR) - Bank analysts expect that growth in Slovakia's economy will further decelerate in the final quarter of 2010, according to the latest macro-economic predictions released by the country's central bank (NBS) on Thursday. While GDP in Slovakia grew by 3.8 percent year-on-year in 3Q10, it should only expand by 3.3 percent y-o-y in the final… read more

Radicova: Car Manufacturers Significant Pillars of Slovakia\'s Economy

Teplička nad Váhom, December 22 (TASR) - Slovak automobile manufacturers represent a major pillar of the economy – bringing new technologies onstream as well as enhancing the education and skills training environment, Prime Minister Iveta Radicova said during her visit to Kia Motors in Teplicka nad Vahom (Zilina region) on Wednesday. Radicova praised the investments… read more

Sipos: E-auctions for Public Orders Not Cure-All, Quality May Be Affected

Bratislava, December 22 (TASR) - The mandatory use of e-auctions for all kinds of public tenders in Slovakia isn't a cure-all, warned chairman of the Public Procurements Office (UVO) Roman Sipos after a meeting with Transport Minister Jan Figel on Wednesday. According to Sipos, the use of e-auctions in building infrastructure may affect the quality of construction, for… read more

Employers Appreciative of Cabinet\'s Attitude to Social Dialogue

Bratislava, December 22 (TASR) - Although employers were concerned about the way in which the social dialogue would function following the general election in June, the Cabinet has taken up a responsible stance vis-a-vis tripartite issues, president of the Association of Employers' Unions (AZZZ) Tomas Malatinsky said on Wednesday. "I have to admit that we did have some… read more

Simon: 2010 Most Complicated Year in Agriculture Since EU Accession

Bratislava, December 22 (TASR) - The year 2010 has been the "most complicated year in [Slovak] agriculture since the country joined the EU," Agriculture Minister Zsolt Simon said on Wednesday. "The agricultural sector will be in the red partly due to several natural disasters that have hit Slovakia. These were floods and things left behind by the former government and… read more

INEKO: Christmas Bonus for Pensioners a Huge Mistake

Bratislava, December 21 (TASR) - Publishing of state contracts on the internet along with mandatory e-auctions applied at most public tenders turned out to be the most beneficial steps of the current Government in 3Q10; on the contrary, paying the Christmas bonus to pensioners was the worst. These are some of the conclusions drawn in the 'Evaluation of Economic and Social… read more

FinMin Reduces Prognosed Inflation in 2011 to 3.3 percent

Bratislava, December 21 (TASR) - The Finance Ministry's Financial Policy Institute (IFP) on Tuesday announced that it reduced the figure of the prognosed inflation in 2011 from 3.7 percent to 3.3 percent. The main reason for the reduction is the recent decision made by the Office for Regulation of Network Industries (URSO) on the prices of energy for households, the shipwreck… read more

Parliament Overrules Gasparovic\'s Veto of 80-percent Emission Tax

Bratislava, December 21 (TASR) - Parliament on Tuesday overruled President Ivan Gasparovic's veto to the act on income taxes, which does away with several exemptions in taxation and introduces 80-percent tax for surplus emissions in 2011 and 2012. As many as 77 of the 79 MPs present at the extraordinary parliamentary session voted for the bill, with opposition Slovak… read more

Honeywell Planning to Invest €38.3 million in Presov, Creating 446 Jobs

Bratislava, December 21 (TASR) - U.S. company Honeywell International has submitted an official investment intention to the Economy Ministry, TASR was informed by the ministry on Tuesday. Honeywell wants to built a new assembly plant for producing turbochargers in Presov, and plans to create about 446 jobs in the process. The overall investment should reach €38.3 million.… read more

President Signs Amendment Scrapping Advantages for Megacasino

Bratislava, December 21 (TASR) - President Ivan Gasparovic on Tuesday signed an amendment to the Gaming Act, according to which the developers of the megacasino project on the outskirts of Bratislava will lose the advantages legislated by the former government of Robert Fico (Smer-SD). According to the amendment, the special category of "casino in a recreational complex"… read more

President Signs Law Abolishing Unlimited Guarantee of Savings

Bratislava, December 21 (TASR) - President Ivan Gasparovic on Tuesday signed the law abolishing the scheme of unlimited guarantee of savings on bank deposits for members of the public, NGOs and smaller firms – now, in keeping with new EU rules, the limit is set at €100,000. Parliament passed the law on December 8. The protection of bank deposits in full was introduced… read more

Household Electricity Prices to Rise by 4.8 percent

Bratislava, December 21 (TASR) - The end price of electricity for households should increase by 4.82 percent on average in the year 2011, as decided by the Office for Regulation of Network Industries (URSO). read more

PMU €9-Million Fine on Slovnaft Over Discrimination to Be Appealed

Bratislava, December 20 (TASR) - The Anti-Monopoly Office's (PMU) imposed a fine of more than €9 million on oil refinery Slovnaft on December 15 over discrimination detected during its wholesaling of fuel in Slovakia, TASR learned from PMU spokesman Vladimir Ferko. PMU has found that Slovnaft charged its clients on an individual basis in 2005-06 for diesel and in 2006… read more

Mihal: Government to Discuss Labour Code Proposal in April 2011

Bratislava, December 20 (TASR) - The Government is likely to discuss the so-called major amendment to the Labour Code in April, Labour Minister Jozef Mihal (Freedom and Solidarity/SaS) said at a press conference held after the Slovak Economic and Social Council (tripartite of labour, business and government) met on Monday. "A complete Labour Code proposal should be drafted… read more