Archive of articles - November 1996, page 3

Fuchs-Petrochema seeks foreign markets for their chemical products

For a wet winter oasis, check out these indoor pools

After a long day, whether it was spent in the office with work or at home with children, every one of us seeks refreshment. A shower or bath may sound good, but the tub at home does not allow for a whole lot of diving and splashing. No need to wait 'til next spring for that: get your swimsuit and head for the plaváreň (indoor swimming pool) in your city. Bratislava has several indoor pools. Plaváreň Pasienky is the one that is open for the public the most. They have two pools: the 50-meter veľký basin (big pool) and the 25-meter malý basin (small pool). Iuventa, between Karlová Ves and Dúbravka, is open at different times every day. They offer a sauna for 50 Sk per person, two fitness centers and a swimming course that you can sign up for.

Frustrated EBRD wants out of Slovnaft investment

Just 15 months after investing in Slovnaft, Slovakia's leading oil and gas refinery, officials at the European Bank for Reconstruction and Development (EBRD) have said they are unhappy with the treatment they have received from the state-run privatization agency, and they want to sell their shares in the company back to the government.The London-based bank invested $59 million last August when it bought half of Slovnaft's global share issue. The 1,000 Sk pricetag per share got the EBRD a 10.5 percent stake in a company that grossed approximately $1 billion last year, and bank officials were pleased with their equity investment. As a bonus, the EBRD's purchase gave Slovnaft the cash it needed to construct a heavy petroleum residual upgrading complex at its Bratislava refinery.

State railway embarks on millenarian modernization project

The Slovak government has big plans to modernize the country's railway system by the year 2000. Integrating Slovak Railway's (Železnice Slovenskej Republiky-ZSR) aged equipment and facilities with those of its neighbors in western Europe will cost Slovakia 11.5 billion Sk, according to Jozef Hujsy, chief director of the Ministry of Transport's railway and combined transport section.Hujsy said the plan's goal is to "create a prosperous organization able to function in the European market." Toward that end, the state and ŽSR will contract with three Slovak companies-ZTS Dubnica and ZTS Martin, and ZOS Vrutky. The three companies provide maintenance services and have produced a limited consignment of diesel and electric locomotives for ŽSR to manufacture a new fleet of mobile equipment which services the four main transport corridors in the country, the top priority being the route between Vienna and Budapest via Bratislava.

Bratislava, Vienna airport agreement imminent

Cooperation between M.R. Štefaník Airport in Bratislava and Schwechat Airport in Vienna has taken a giant step forward with an agreement expected November 10 or 11. Following negotiations with a committee of the Slovak Ministry of Transportation, Communications, and Postal Services and officials from Schwechat, Bratislava Airport is about to be incorporated as a private shareholding company with 100 percent state ownership. Dula explained that the Slovak Ministry of Finance's approval was necessary. There are several legal obstacles that need to be cleared involving civil aviation regulations but the deal is set to come into effect on January 1, 1997, according to Dula.

Speeches move democracy debate from private to public

Ralph Johnson and Georgios Zavvos, ambassadors to Slovakia from the United States and the European Union, respectively, gave a one-two punch of speeches on October 22 that brought what their missions have been saying privately to government officials for months out into the public. The speeches were noteworthy for their bluntness and for their sense of urgency."The clock is ticking towards the final opinions, negotiations and decisions, which will begin as soon as late 1997," Zavvos said in his speech to a conference of non-governmental organization leaders in Banská Bystrica. "Only through its own efforts in the field of democracy as well as in economy, can Slovakia hope to join the EU. There is much work to be done, and in this task there can be no delay."

I'll take "Blava" over Paris any day

I'm sick of people talking about Paris like it was such a great city. Ah, ParisÉwith those pretty bridges over the Seine, those romantic cafés and all that long bread. Well, my family lived there for two-and-a-half gruelling years and I insist the truth be told.The bridges are traffic-choked and they span a sluggish brown river that smells bad. The cafés are usually located at busstops where the air is blue with exhaust fumes and the din of gridlock. They contain too many pizza-sized tables so that we were always sitting within kissing distance of smokers holding frizzy lapdogs. The waiters are as rude as the prices. And no matter how much you pay for a cup of undrinkable French roast, their washrooms are the foulest in Europe.

Karpatia: Where people in the know go

To top off a perfect day roaming the Carpathians, or to get away from the city bustle, consider Karpatia, about 25 minutes outside of central Bratislava. Just follow the highway toward Brno, and get off at the sign saying Devínska Nová Ves. At the intersection of Devínska and BAZ (Bratislavské automobilové závody), go toward BAZ and follow the road to the restaurant, located out in the open surrounded by fields.The cozy, romantic atmosphere at this restaurant is reminiscent of a country inn. The food is excellent and the service is friendly, though we did have trouble getting seated. The upstairs restaurant seats 55, and the downstairs vináreň has 55 places also.

ING, ČSOB gain reference status

Proud Banská Bystrica swaggers through time

The people of Banská Bystrica know their town is beautiful, and they are proud of it. It is in their eyes as they think about their new square, about the National Bank and Ministry of Transportation, Post, and Telecommunications moving their centers to their city. It has elevated their sense of importance and added a bounce to their step, which is evident any time of year.November is likely to be wet in Banská Bystrica. Gray clouds hide the Low Tatra mountains that begin their ascent north of the town. All around, the gentle foothills soak in the rain. The Hron river can be heard hurrying along. Every side street that connects with the central SNP (Slovak National Uprising) Square bustles with people ducking into shops or newly reconstructed offices.

American teaches ethics to future business leaders

TRNAVA - Rarely when people think about successful companies does morality come to mind. More likely, phrases such as "It's a dog eat dog world," or "winning at all costs" define the booming business. But for one popular management training and research consultant, high ethics are what make a successful company with happy, motivated employees.Speaking to a classroom of 100 teenagers last month at Trnava's Obchodná Akademia, Dorothy Marcic, an American economics professor from Nashville, Tennessee, encouraged her young pupils to choose ethics as they embark on business careers. "In the past, some young people avoided going into business as they thought it required them to be dishonest," Marcic said. "If we can show them this is not the case, we will get a new 'breed' of business people for the future."

The Spotlight

Talk of "overriding aim" of integration sounds hollow

Coke plans plant in Banská Bystrica

Securities measure to depress market

The Slovak stock markets are still waiting for an impetus. Blue chips are trading in small volumes, and their prices are mixed. VSŽ eased to 625 Sk per share, VÚB to 1,750 Sk, Nafta slumped to 1,800 Sk and Slovenské Lodenice to 925 Sk. Conversely, IRB surged to 1,380 Sk. SES Tlmače was in strong demand, and its share rose 7 Sk to 477 Sk. SES has recently won several contracts, among them a120 million Sk order to reconstruct Bratislava's Heating Plant II and supplying technology for the Vojany thermal power plant.Slovnaft's share price slumped below 896 Sk, and it seems that investors are not willing to pay more for this share because of recently published 1-3Q96 results and the EBRD's probable sell-off (see story, page 1). Slovnaft posted a pre-tax profit of 1.37 bn Sk ($44m) for the first nine months of this year, which is only 40% of last year's figure.

Courier brings overnight delivery to Slovakia

When the Bacigal brothers started their business, no one in Slovakia knew what overnight delivery was. It took a while for them to convince folks that they needed a local courier service. "It wasn't necessary in the communist era to be quick; people didn't know what express delivery service was," said Juraj Bacigal, co-owner and co-director of the overnight delivery service In Time. "So the problem was to show these people that there was this possibility."The brothers, Juraj and Peter, got the idea themselves from the Vienna-based company In Time; in February of 1990, they joined forces with the Austrian firm and three Czech partners, shelled out 240,000 Sk, and started In Time ČSFR.

Nation served raw by power struggle

Slovakia received an unusually high degree of attention in the English-language press last month. Below are excerpts from two publications that focused on the nation's current state of affairs. Until Prime Minister Vladimír Mečiar was forced by the constitution to meet President Michal Kováč in August to discuss changes to his cabinet, the two former allies had not met officially for 14 months. For much of the four years since the country achieved statehood its transition to democracy has been blighted by a power struggle between its head of government and its head of state. Slovak politics is served raw.This domestic tension has damaged Slovakia's image abroad. Its economic achievements are among the best of any of the transition countries of central and eastern Europe, but this performance has been overshadowed by the doubts expressed in western capitals about its adherence to democratic, free market values.

Culture ministry wants to give advantages to Slovaks abroad

POSS ADDS: New plant for Hirocem in Roho_n'k is finished