Archive of articles - February 1999, page 2

Secret service boss declassifies report

After two weeks of unofficial press reports and political in-fighting about the public's right to read the February 12 report on the secret activities of the SIS under former Prime Minister Mečiar, current SIS head Vladimír Mitro decided last Wednesday to declassify most of the document.It was the largest development in a week of continued hype about the long report, which details illegal activities of the SIS from 1995 to 1998. The report charges that the Russian-oriented SIS was involved in the kidnapping of former President Michal Kováč's son, sought to defame Slovak church officials and intimidated and terrorized journalists and political opponents.

Ivan Mjartan: "We don't make our celebrities, we destroy them"

After the 'Velvet Revolution' in Czechoslovakia in 1989, Ivan Mjartan worked for the state-run Slovak Radio as a journalist. In 1992 he quit the station to run in the 1992 elections for the HZDS party of Vladimír Mečiar in the former Czechoslovak Federal Parliament.After the split of the Czech and Slovak Republics in 1993, Mjartan was appointed Slovak Ambassador to Prague. In 1998, he left his ambassadorial post and entered the HZDS for the second time to manage the party's election campaign. Surprisingly, after Mečiar's defeat in the September national elections, Mjartan left the HZDS and announced his intent to form a new party with a modern social-democratic orientation. The Slovak Spectator met Mjartan on February 25 to discuss his planned new party and his view of Slovak politics.

First Slovak astronaut hits space

Early in the morning on February 20, an international French-Russian-Slovak space mission took off from Bajkonur, Kazakhstan to reach the Russian space station MIR. The Sojuz TM - 29 spaceship docked at MIR two days later, and Slovakia's first astronaut disembarked to begin a mission on which he will carry out research projects co-ordinated and prepared by the Slovak Academy of Science.Thirty-four year-old Ivan Bella, a native of the village of Dolná Lehota in central Slovakia, began an eight-day mission in space after having spent one year in preparation at a space training center near Moscow.

Local speculators send crown crashing through 40/1 USD

After a period of relatively calm development, the Slovak foreign exchange market experienced another run of high fluctuations. The USD-SKK exchange rate moved above 40.000 SKK/1 USD, and the EUR-SKK rate broke the long-term barrier of 43.000 and moved quickly higher by 8 figures in two days.According to the central bank, the sudden weakening was caused by the statements of the rating agencies Moody's and S&P, as well as the prolonged cabinet discussion on the state budget. However, the agencies only affirmed their current ratings for Slovakia, and dealers did not see any local or foreign flows based on that event. Slovak foreign exchange and money markets are not generally sensitive to rumours, and dealers generally trade the overall market position.

European Investment Bank to lend Slovakia 200 million ECU for infrastructure projects

The European Investment Bank (EIB) will provide a 200 million ECU loan to Slovakia this year, aimed mainly at refinancing debts for Slovak railway transport, the Finance Ministry said on February 23."The loan should be the first part of a wider investment programme of the EIB in Slovakia," Finance Ministry spokesman Peter Švec said.He said other tranches, which have not been yet specified, would be aimed more at financing Slovakia's highway construction programme.

Astronaut Ivan Bella's career star rising, on earth as in space

After fifteen years of piloting different kinds of aircraft, Ivan Bella last week finally strapped himself into the Rolls Royce of flight - a space rocket. His mission, which fulfilled a childhood dream, took him to the Russian space station MIR and opened the gate to the top ranks of the Slovak Air Force.Born in 1964 in the central Slovak village of Dolná Lehota, Ivan Bella studied at the military high school in Banská Bystrica, from which he graduated in 1983."The decision to apply for this special kind of high school came from his deep interest in flying, which started at an early age," said the astronaut's father, 61-year-old Marián Bella. He added that his son's efforts were crowned by success when he was accepted at an Air Military Academy in Košice right after graduating from high school.

Woman to run in Presidential election

Letter to the Editor: More English immersion needed

January unemployment up to 16.33%

Around Slovakia

Veterinarians fight rabiesSouthern Slovaks protest "Hungarian-isation of government"Astronaut's parents very proudOne suicide, another attempt"Vegas" bar brawl220-year old cow's heart found in chapelLocal convict caught againChildren's clothing stolenMystery goods stolen from customs warehouse

Market turnover falls, SAX continues decline on losses to steelmaker VSŽ

The equity market continued in its sluggish trading during the middle two weeks in February. The SAX lost 7.7% and closed at 87.98 on February 22. Slovakofarma gained 3.7% and seems to have stabilized at this level. Slovnaft weakened 0.5% and is trading at 650 Sk. VSŽ stock continues to plummet, falling 20.5% to 155 Sk in the past two weeks and over 120% since elections last September. Average daily turnover on the equity market dropped to 74 million Sk in February, compared with 97 million Sk in the first month of 1999.

Slovak aluminium maker Slovalco plans expansion

Slovakia's largest aluminium smelter, Slovalco a.s., is considering expanding its capacity to 144,000 tonnes per year from the current 108,000, Slovalco said at an international investment conference in Bratislava on February 19.Slovalco expects to produce 110,000 tonnes of aluminium in 1999, after producing the same amount, which exceeds its official capacity, in 1997 and 1998."As of now it is technically clear how and what is to be done, now we have to negotiate with banks," Slovalco's administrative director Milan Veselý told Reuters. "The whole investment is about $80 million...It is quite cheap," he added.

Joint venture between Siemens and VW Slovakia widens production

Japan gives Slovak National Theater $350,000 grant

Weakened crown set to fall further

In the wake of a sharp weakening of the Slovak crown in late February, money market players were predicting that the currency would fall another 5-10% in the coming months.The analysts said the weakening was due to specific recent market developments - poor country ratings from two major ratings agencies and the sudden decision by a major money market player to close its crown position. Central bank and Finance Ministry officials, meanwhile, said they were comfortable with the crown's performance and would not intervene to either protect or devalue the crown, for the time being.On February 22, the Slovak crown (Sk) weakened to 45.70 Sk against the euro, its lowest level since the National Bank of Slovakia (NBS) cancelled the plus/minus 7% fluctuation band for the currency last October. The crown opened on February 23 at 39.94 Sk to the dollar, a fall of approximately 15% from its level of 34.70 Sk against USD on October 1.

FNM to launch 'bonds for shares' scheme in first half of 1999

Quotes of the Week

Slovakia's foreign trade gap down 53% year-on-year

Skoda keeps leading position in total car sales