Archive of articles - January 1997, page 3

Ports agree on salvaging Ďumbier

An agreement has been reached between the Slovak owners of the ill-fated tug "Ďumbier" which sank last year on the Danube River and Austrian river authorities about the next steps to be taken with the vessel.Austrian shipping authority spokesman Reinhard Vorderwinkler said divers would be sent down later in January to determine the position and state of the tug. They will also try to recover the two or possibly three bodies of the eight crew members who drowned in the October 22 accident and are still believed to be in the ship. The Slovak shipping company's insurance firm will cover the costs. Attempts will also be made to pump out any fuel that might still be in the vessel. Initially river authorities were expecting an oil spill, which would have made locating the wreck easier, but there was no leak.

Poprad: The enchanting gateway to the Tatras

Morning light in winter strikes the High Tatras just right since the sun is angled so far south. After a flat plane carved out long ago by the Poprad river, mountains jet straight to the sky in jagged inspiration. This first look awaits travellers from either train or car to Poprad, the "gateway to the Tatras." Most visitors find only the train station in Poprad as they hurry to the High Tatras. Indeed, even this can be an adventure as the sometimes confusing bustle leads to different trains in different directions.In the pale glow of a gray sky one conductor pointed to a train sitting on the far end of a track when cornered for information on how to get to the mountains. Inside this far removed train, old and dirty with broken glass and haggled wooden seats, some old people sat. It seemed to be the place the conductor had been pointing.

Slovenské Lodenice plans to built 14 ships, and luxury yachts

Get Croatian-style pizza at Umag

Umag is a town on the Istrian peninsula in Croatia. Pizzťria Umag captures the flavor of the Balkans in its wonderful pizzas and with its delightful choices of Balkan style grilled meats.This is not the place for soups and appetizers, as only a few are offered - it is the sixteen varieties of pizza that are the main attraction at Umag. There's even a vegetarián pizza with olives, cheese, mushrooms and corn (100 Sk). Two of our favorites are the Artičoka (110 Sk) and the ananás (pineapple -110 Sk). If your budget is tight, try the plain ceese pizza (80 Sk), as you will get a real meal since all the pizzas are good sized. If you want the works, we recommend the Pizza Umag (120 Sk) which seems to have a little bit of everything on it - including sardines.

Around Slovakia

Pedophile abused 42 boys in five years13-year-old threatens businessman's lifeBum looks for place to call home

Petrimex nets 11 billion Sk revenue in '96

The Spotlight

Kromberg Schubert builds new plant

Opposition revs up for referendum

Hoping to avert a crisis when President Michal Kováč's term ends in spring 1998, Slovakia's opposition parties launched a petition drive on January 9 to stage a referendum that would establish a direct election for the country's Presidency.The President currently is elected by a three-fifths majority in Parliament - meaning 90 votes in the 15O seat chamber. However, the hostility between the ruling coalition, which holds 82 seats, and the opposition, is too intense for them to agree on a candidate for the nation's highest post.That means two scenarios: One is that Prime Minister Vladimír Mečiar convinces enough deputies to support a candidate that does not stand up to him as much as Kováč. şşA weaker character in his [Kováč's] place would simply become Mečiar's yes-man, and that could be very dangerous for Slovakia's democratic development,'' said Eduard Kukan from the opposition Democratic Union.

World bank's Aide Moire after its mission in Slovakia

Austria backs Slovakia integration into EU

The day is drawing closer when Slovak citizens will know if they are to be accepted into the European Union (EU). Fifty kilometers away from the Slovak capital of Bratislava, Austrian citizens are also watching the progress of Europe's youngest nation toward EU integration. While politicians lay the groundwork, over $900 million in trade has passed between the two nations in 1996, a new high.With that trade boom, it's no wonder that Austrian officials are saying that Austria's economy will lose out if Slovakia fails to win early integration into the EU. Austrian Commercial Counselor Philipp Marboe said up to 1,500 firms from his country had established themselves across the border in Slovakia, which has become a major target for Austrian eastward expansion. Tariffs between EU and non-EU nations would put these firms at a competitive disadvantage in Europe, Marboe added.

Slovak Railways doesn't reach planned income

In Austria we are all persona non grata

Everyone has one. You offer them over coffee, they come to you by phone. Some are amusing, some bizarre, and a few are downright scary. They're Austrian Horror Stories. I became aware of them after running afoul of Austrian authorities myself and being "handled" in a manner that elsewhere is reserved for criminals.Last fall I made the mistake of slowing down instead of stopping at the railway crossing between Wolfstahl and Hainburg. My car was bonked by the lowering barrier and the train went safely by, end of story. On the way back, Austrian border police took my passport away for twenty minutes before accusing me of failing to report an accident. During the ensuing two-hour ordeal I was asked four times by three uniformed men how much money I had with me. They took everything in my wallet - 1500 Shillings.

1996: The year in news

January 24: Karol Plank resigns as chief justice of the Supreme Court, outlasting six ministers of justice and four prosecutor generals during his six years on the court. Milan Karabín, supported by both coalition and opposition deputies, replaces Plank. Upon taking the post, Karabín says one of his aims is to "to ensure that the number of criminal cases will be heard as soon as possible."February 20: An Austrian district court in Vienna decides that Michal Kováč Jr., (below) son of the Slovak President and wanted for questioning by international police for his possible connection with a fraud case involving the Slovak trade company Technopol, cannot be extradited and thus may return to Slovakia.

Acknowledging the best of 1996

The past year was an exciting one in a market where success is hard-earned. Those who succeeded: Construction firm of the year - Váhostav. The Žilina-based firm beats stiff competition thanks to the VÚB tower and dams in Žilina and Čuňovo.Honorable mentions - Hutné Stavby is benefiting from VSŽ's ambitions, including a new hockey stadium. Highway projects boosted Doprastav's work by 50 percent. Hydrostav's sales increased 27 percent, thanks in part to Mochovce. Banské Stavby scored big with a German tunnel project. Real estate agency of the year - HB Reavis. Ambition, sweat, and a bit of luck allowed Reavis to fill up their Bratislava Business Center months before opening day. Honorable mentions - Spiller Farmer and Iuris. Spiller Farmer earned a partnership with Healey & Baker that is potentially market-altering. Iuris filled up Kondomínium Bôrik, one of Bratislava's most attractive residential projects, at a notable pace and price.

NBS cancels repo, reverse repo rate

The National Bank of Slovakia (NBS), seeking to tighten the money supply, cancelled its setting of the securities repurchase and reverse repurchase rate in a move that sent an unwelcome shock to an already jittery commercial banking market.As testimony to the shock, the NBS's January 7 announcement sent interbank interest rates skyrocketing, as they leaped in a four-hour span on January 10 from 17 to 22.5 percent. "It was an extraordinary event," said Tim Stephens, the deputy treasurer at Tatra Banka in Bratislava. "You're not going to see bankers jumping out of windows, but it's the biggest jump I've ever seen in any market."Despite the soaring interest rates, a NBS official said the Central Bank needed to act boldly after other attempts to check commercial banks' activity in the money market had not decreased the money supply.