Archive of articles - February 1997, page 3

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Strong year spurs demand for VSŽ, Slovakofarma, Váhostav

The Slovak capital market experienced a partial revival of investor interest in the last two-week cycle. Interest was renewed by the excellent 1996 results of several Slovak companies and their positive 1997 prospects. VSŽ's shares remained the most in demand, and they continued their upward trend over the past two weeks. VSŽ's share price is now attacking its Sk700 upper barrier, fluctuating in a range of Sk690 - Sk697, but there seems to be a psychological barrier to overcome. The steel company intends to purchase the poorly performing Hungarian engineering company Digép in Diosgyör and, following the purchase of this company, intends to privatize a steel mill in Ozda (see corporate news on page 5 for more info). This step is the culmination of VSŽ's long-term effort to strengthen its position in Hungary.

27. feb 1997

Government tightens grip on NBS

Acting on a little-used provision in the National Bank of Slovakia's (NBS) statutes, the cabinet on February 11 commissioned deputy premier and finance minister Sergej Kozlík to sit on the NBS's bank board, the panel that makes the central bank's strategic decisions.The move followed the government's January 28 appointment of former deputy finance minister Jozef Magula to the NBS's oversight panel, which directs the central bank's policies. As for Kozlík, he takes on his third position in the government, though he has no voting right on the eight-member panel.The cabinet's shift of two high-level executive branch officials fuelled specualtion that its dissatisfaction with the NBS's handling of the country's fiscal policy has grown to the point where it wants to have a greater say in the bank's decisions.

Richard Lewis 27. feb 1997

Postal rates to go up by 20 percent

TASRand 1 more 27. feb 1997

Bundestag Speaker: "Germany does not want Slovakia isolated"

Slovakia and Germany's partner effort to bring Slovakia closer to European integration slipped into a higher gear on February 11-12 with the visit to Bratislava of the Speaker of the German Bundestag, Rita Süssmuth. Visiting a month after a Slovak parliamentary delegation trekked to Bonn, Süssmuth held talks with Prime Minister Vladimír Mečiar, President Michal Kováč, MPs, and Foreign Minister Pavol Hamžík.While the beat to this Slovak-German diplomatic waltz is expected to quicken when German Foreign Minister Klaus Kinkel visits Bratislava in early May, it already skipped, by what Süssmuth had to say."It is of utmost importance that the Slovak and Czech Republics become members of the European Union (EU) at the same time," Süssmuth said at a press conference ending her trip. "Germany does not want Slovakia to be left isolated."

Tom Reynolds 27. feb 1997

The Spotlight

27. feb 1997

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