EconomyOther Economy

Radicova: Shutdown of NADSME Only Way to Salvage EU Money

Bratislava, October 6 (TASR) - The shutdown of the National Agency for Development of Small and Medium-sized Enterprises (NADSME) is the only way to salvage money from eurofunds managed by the agency, Premier Iveta Radicova (SDKU-DS) said on Wednesday. "The only way to gain trust with respect to European resources is to transfer the money to a different institution,"… read more

Yura Corporation Slovakia Opens New Branch in Pravenec

Prievidza, October 6 (TASR) - Korean company Yura Corporation Slovakia wants to open a new branch in Slovakia in Pravenec, near Prievidza (Trencin region), and is already looking for staff. The cable-bundle producer for Kia, which already has assembly plants in Prievidza, wants to employ other 250 people. According to director of the Labour, Social Affairs and… read more

Government Approves Budget Proposal and Ready to Submit Itt

Bratislava, October 6 (TASR) - The Government at its session on Wednesday approved the legislative proposal on the state budget for 2011, as well as the public administration budget for the next three years. The Government now has to submit the proposal to Parliament by October 15. According to the document prepared by the Finance Ministry, the overall state revenues… read more

Dexia: Ownership Change to Have No Impact on Clients

Bratislava, October 4 (TASR) - Dexia Banka Slovensko won't comment on its sale, as the transaction is between its main share-holder, Dexia group, and potential bidders. "Besides, the sale requires confidentiality among the parties involved," Dexia Banka manager for external communication Michal Furik told TASR. Furik spoke in reaction to the proclaimed interest of the… read more

Mihal: Volkswagen Slovakia Can Be Role Model for Investors

Bratislava, October 4 (TASR) - Volkswagen Slovakia company can serve as a role model for foreign investors, Labour, Social Affairs and Family Minister Jozef Mihal (Freedom and Solidarity/SaS) Jozef Mihal told TASR on Monday after paying a visit to Volkswagen facility in Bratislava. Mihal views the company's preparations for extending its production in Slovakia as especially… read more

J&T Interested In Buying Dexia Banka Slovensko

Bratislava, October 4 (TASR) - J&T Finance Group is interested in acquiring Dexia Banka Slovensko, J&T Finance Group spokesman Maros Sykora confirmed on Monday. The finance group has informed DEXIA SA Brussels, the mother company, about its intentions in a letter, and has initiated the negotiations on buying out the shares of Dexia Banka Slovensko. "J&T group is… read more

Nicholsonova Accuses Tomanova of Inaction on Social Enteprises Issues

Bratislava, October 4 (TASR) - Labour and Social Affairs Ministry State Secretary Lucia Nicholsonova on Monday renewed her criticism of the ministry's previous leadership in connection with its job creation scheme dubbed 'social enterprises', which the current Government describes as inefficient and a waste of money. In addition to her last week's remarks that the operation… read more

Tripartite Doesn\'t Agree on Budget, Trade Unions Emphatically Say No

Bratislava, October 4 (TASR) - The social partners - Government, trade unions and employers - at a tripartite session on Monday didn't find agreement on the 2011 state budget draft, with employers accepting it with certain reservations and trade unionists rejecting it flatly. The Government is set to discuss the draft at its regular policy session on Wednesday. "We… read more

Tour Operators Present Slovakia to US Travel Agencies

Bratislava/New York, October 3 (TASR) - The Slovak Tourist Board (SACR) and local tour operators staged a three-day road show late last week in New York, presenting U.S. travel agencies from the cities of Boston, Minneapolis and Dallas with tourist opportunities in Slovakia. "A total of 130 travel agencies were interested in learning about Slovakia," said Peter Petian… read more

Genertel to Launch Operations in Slovakia This Month

Bratislava, October 2 (TASR) - The Slovak unit of the online-only insurer Genertel Insurance Ltd will step into the local market later in October with the direct sales of mandatory third-party liability insurance, its director Miroslav Chovan has said. Genertel Insurance Ltd. will provide its services using direct channels such as internet and fixed-line telephony used… read more

Slovaks Appreciate Euro More than Other Eurozone Members

Bratislava, October 2 (TASR) - Slovaks view the common European currency more positively than people in other eurozone countries, with 64 percent of Slovaks welcoming it compared to the eurozone average of 38 percent. The findings come from a recent 'Transatlantic Trends' survey carried out in 11 EU countries, the USA and Turkey in June involving 1,000 respondents in… read more

Housing Banks Up in Arms Over Plan to Scrap Housing Saving System

Bratislava, October 2 (TASR) - Leading housing savings banks in Slovakia have voiced their opposition to Finance Minister Ivan Miklos's bill to cancel a system under which the clients can, after six years, take out their savings with the end-of-year bonus accrued over the period and use it for the purpose of their own choosing. Prva Stavebna Sporitelna (PSS) savings bank… read more

More and More Slovak Firms Register HQs in Tax Havens

Bratislava, October 2 (TASR) - There are annually 42 percent of entrepreneurs doing business in Slovakia but registering the site of their enterprise in low-tax countries known as tax havens, a tax analyst has told TASR. The number of firms moving headquaters abroad, mainly to Netherlands and Cyprus, continues to increase by 15 percent on the year despite Slovakia's adoption… read more

Some 2000 Unionists Converge on Kosice to Protest Against Austerity Package

Kosice, October 1 (TASR) - Some two thousand trade unionists from across eastern Slovakia converged Friday on Kosice to stage a protest march and rally aimed against the measures planned to be taken by Iveta Radicova's government in social area. "The package of measures being prepared by the Government will directly impact on people. According to our calculations, it… read more

Budget Deficit Deepened to Over €3 billion in September

Bratislava, October 1 (TASR) - The state-budget deficit rose from €2.822 billion in August to €3.110 billion in September, the Finance Ministry announced on Friday. The deficit was more than double the one recorded a year ago, as it stood at €1.360 billion in September 2009. A total deficit of €3.476 billion is projected for the whole of 2010, with the… read more