Archive of articles - December 1997

Slovak fair industry keeps bringing visitors back

During 40 years of communism, trade shows on Slovak soil were visited largely by the braver citizens of the then-Czechoslovak Federation. The western cars, computers and electronic gadgets on display, say eyewitnesses, had a thrilling air of the forbidden about them.Not so now, of course. After eight full years of capitalism, Slovak fair-goers are a price-hardened, quality-conscious bunch - and they come back, in annually increasing droves. Many exhibitors see this consumer enthusiasm as a function of the 'novelty factor.' The Slovak market economy is still young enough that consumers are interested in its lower-profile happenings, such as 'dental equipment' exhibitions and 'tools and ironware' fairs.

Survival tips: Connecting to the outside world via Schwechat airport

Since Slovakia lost the state air line ČSA to the Czechs after the split, and Bratislava airport now offers flights to few destinations other than Kuwait or Switzerland, the Vienna airport at Schwechat represents a vital link to the rest of the world. If you don't have access to a car, then the best way to get there is by bus. The airport is really not that far, only 45 km, but hold-ups at the border can make it feel like a million miles away, especially when you have a plane to catch. Even though buses can bypass car traffic at the border and passport control officers come on the bus to stamp passports, count on at least a 30 minute wait at the border. A one-way ticket to the airport for foreigners is 90 ATS (around 250 Sk), 90 Sk for Slovaks, and it is advisable to buy your ticket the day before since these buses fill up quickly. Buses leave from Bratislava's main bus station at Mlynské Nivy next to the VÚB skyscraper.

Tackling slump, IRB swaps leaders

Exhibitors beginning to target 'niche fairs'

Fair organizers are not up to dealing with the chaos that such numbers cause. But most exhibitors are delighted with the sales opportunities that fairs offer, and say trade shows are among the most important marketing strategies available in Slovakia.Martin Gartner, a representative with the advertising agency Image s.r.o., felt that major brand names had little choice but to attend industry fairs. "If you are a serious market brand, you have to organize an exhibition at the fair for your industry," he said. "It can't be cheap, because it's a question of building up your image in a very competitive market."Gartner, a former advertising representative for the car manufacturer Daewoo Corporation, said that auto fairs offered much more than just a chance to wow consumers with a flashy exhibit. "You have the chance to meet and talk to experts from your branch of industry," he said.

November inflation came in at 0.7%; 6.2% year-on-year

Enjoy winter in the beautiful Malá Fatra

The first snow flakes are flying and nature is falling asleep under its fluffy white cover. We who live in towns are not exactly aware of these gentler realities, because we are busy furiously mashing the mud and snow on the pavement into a well-trodden mess. It is time for a break. Christmas and the winter holidays are coming, so why not indulge yourself with a spot of winter rejoicing ? Mountain facilities await...The mountains of the north-western part of Slovakia are among the loveliest mountain regions of Slovakia, and a boon to tourism and winter sports. The town of Žilina is positively wreathed in their beauty.

Market stable, but uncertainty lingers on

The Slovak money and foreign exchange markets did not show high volatility over the past two weeks, but lingering uncertainty over next year's developments continued to worry market players.Two events dominated the money market - the fifth and sixth auctions of state T-bills. At the first of these sales on December 3, the Finance Ministry sold 39-week T-bills worth 2.984 billion crowns, not nearly satisfying the surprisingly high overall bid of 7.464 billion crowns.The average yield dropped to 24.814 percent, while the maximum accepted yield was 25.00 percent. The yield curve of short-term deposits remained unchanged. Overnight deposits were traded on interests between 13 and 16 percent, while one-week funds traded at around 17 percent interest.

Slovak crown seen edging down as 1998 draws to close

The Slovak crown should continue its gradual decline against hard currencies as the year draws to a close, but dealers maintain that a sharp fall is unlikely provided trading is quiet.Developments in the neighboring Czech Republic, where the government collapsed during the November 29-30 weekend, prompting an initial bout of selling against the mark, would remain the main factors influencing also the Slovak currency, the dealers said. "The Czech crown moves will probably retain the strongest influence on the Slovak crown through the end of the year," said Dušan Svitek, a forex dealer with Slovenská Sporiteľňa.Unlike its Czech counterpart, pegged to a currency basket made up of 70 percent German marks and 30 percent U.S. dollars, the Slovak crown's basket consists of 60 percent marks and 40 percent dollars. During the week the Slovak crown fluctuated at around 19.5 against the mark and around 34.6 against the dollar.

Oops! It doesn't always work in other lands

Your company's product has become all the rage at home, now it's time to conquer foreign markets. Your marketing strategy has worked perfectly on domestic ones, you think, which implies that simply copycating it should work abroad as well ... oops!... if only it worked that easily all the time.As firms expand globally - West meets East, North meets South - language and cultural differences occasionally create some real gaffes. Finishing a year is always a good excuse to laugh about the most glaring of them (cases not disguised for confidentiality's sake).The introduction to South America of the Chevy Nova automobile caught General Motors by surprise. The company was apparently unaware that in Spanish, "no va" means "it won't go." As soon as GM figured why sales were in trouble, it renamed the car throughout the region.

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Hungarian coalition pledges cooperation with SDK

Janus, the Roman god of gates and beginnings, could easily stand in as the patron saint of Slovak politics. Shown with faces on the front and back of his head, Janus symbolized vigilance and circumspection in ancient Rome. But in modern-day Slovakia, his antipodal gaze reflects a profound division between those people who remain obsessed with the past and those who are focused on the future.Perhaps no issue reveals this division quite like relations between Slovaks and the country's Hungarian minority. The December 2 signing of a common statement between the leaders of two opposition blocs, the Hungarian coalition (MK) and the Slovak Democratic Coalition (SDK), was hailed by the signatories as a signal to Slovak voters that the time had come to bury the hatchet with Hungarians. But the deal brought an enraged response from some ruling coalition representatives, who attacked the agreement as a betrayal of the Slovak nation.

Budget deficit at 33.49bn Sk

HZDS sacks its Prešov managers

PREŠOV- Behind a veil of secrecy which has left many local people unaware of the changes, the Movement for a Democratic Slovakia (HZDS) replaced virtually the entire party leadership in the Prešov region during the month of November. At a special regional session, under the close supervision of such prominent HZDS members as Tibor Cabaj, Chairman of the HZDS deputies club, and the party's Deputy Chairman Arpád Matejka, the former regional leadership submitted their resignations and replacements were elected.Among those to resign were the regional board's chairman Igor Urban, deputy chairmen Anton Lamanec and Andrej Fedor, as well as regional and district office heads, respectively Peter Chudík and Jozef Gruška. All cited personal reasons for their decisions.Held in the 1980s Communist Party headquarters in Prešov, the meeting lasted four and a half hours and led one local newspaper to write, "The ruling movement is meeting behind locked doors like a group of plotters. Do they have something to hide?"

VV wins state promise of $100m Gabčíkovo loan

The Slovak government said on December 2 it would offer a state guarantee for a $100 million loan for the state-run construction company, Vodo-hospodárska Výstavba (VV), to finance the completion of the controversial Gabčíkovo dam."The government agreed to promise to give a state guarantee for a loan worth $100 million in 1998," a government statement said, adding that further details and final approval of the loan guarantee would be given after the passage of the 1998 state budget in Parliament. According to Oľga Vavrová, VV's spokeswoman, the money should be used for financing of the Gabčíkovo and Žilina dams.The whole transaction had been formally approved already in 1995, when the government announced it would guarantee a loan totaling $500 million to finance three projects: Gabčíkovo/Nagymaros, Vodné Dielo Žilina and another dam in Tichý Potok in eastern Slovakia.

EU summit: Slovakia on slow train

"Our representatives at the summit today demanded the possibility for Slovakia to have a more intensive screening at the pace which is the same as or approaching that of the 'five plus one'," Beláková continued.She added that Slovakia had made better progress in preparing for membership talks than some of the "five plus one" nations, but gave no details.Beláková's allegations were flatly denied by José María Gil-Robles, Speaker of the European Parliament (EP), who stated that in order to join the club it is necessary to respect basic democratic criteria agreed upon at the EU Copenhagen summit, which Slovakia has not done.

Slovak Railways to become JSC

A couple of New Year's Eve party ideas