Archive of articles - February 2011, page 10
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Looking to Europe
THE SMALL size of the Slovak market places limits on the activities of local investment and private equity groups but this characteristic is not unique to Slovakia. The main difference, when compared with abroad, is that Slovak private equity groups typically invest the money of their owners, while foreign private equity groups invest money on behalf of other institutional investors.
Devínska Nová Ves’ Croats
THIS PHOTO of Devínska Nová Ves dates back to 1933 – the period before the municipality was swallowed by Bratislava.
Investment tax relief could broaden
THE FINANCE Ministry has conceded that the time period for tax relief that is provided to recipients of government investment incentives might be increased from five years to 10 years. The Economy Ministry is planning to push for this longer period of time in a draft revision to Slovakia’s investment assistance law, the SITA newswire reported.
Following more sophisticated paths
THE FALL of the communist regime in November 1989 in Czechoslovakia and the ensuing transformation of a state-controlled economy into a market economy opened new horizons and brought previously unknown business opportunities to those who were ready for the risks of doing business. The 1990s was a period of both small and large privatisations in Slovakia and the mushrooming of new businesses, a decade sometimes referred to as the ‘wild times’. It was also when the first investment and private equity groups emerged in Slovakia.
Bank loan rates spotlighted
THE FINANCE Ministry has announced that it will conduct a close examination of banking practices in Slovakia. The country’s central bank and antitrust authority will also be taking a hard look at the fees and interest rates that banks operating in the Slovak market charge to lend money, for example to finance home purchases. Finance Minister Ivan Mikloš said in early February that it will be necessary to check whether what he called “high” banking charges are not the result of a cartel agreement across the banking sector. The minister pointed out that mortgages provided by banks in Slovakia are among the most expensive in the whole eurozone. Observers suggest that when, as is the case in Slovakia, three large banks control a majority of the banking market then they do not really need a cartel agreement.
Quote of the week
“I have always wanted there only to be independent MPs in parliament, who would decide freely according to their consciences.”
'The airport has always been a subject of interest'
MAROŠ Jančula considers the option of renting Bratislava Airport to a strategic partner for a long-term period a viable option. The head of Bratislava Airport also suggests that airports elsewhere are being rented for as long as 65 years, but points out that they remain in the hands of the state, which also retains partial interim control over them, and that after the rental period expires they are returned to the state in the same condition – or even improved.
Bratislava needs about €30 million more for its ice hockey stadium
Mayor Milan Ftáčnik announced at a Bratislava City Council session at the end of January that the city would need €30 million more to complete reconstruction of the Ondrej Nepela ice hockey stadium in time for the Ice Hockey World Championship, due to start on April 29. Originally, the stadium’s reconstruction was to have cost €75 million but it has ended up costing €96 million, including follow-on investments such as improvement of infrastructure surrounding the stadium, demolition of the nearby cycling stadium and interior fit-out of the ice rink.
Matovič kicked out of SaS caucus for voting with opposition
MP Igor Matovič was expelled from the coalition Freedom and Solidarity (SaS) caucus on Thursday, February 10, SaS leader and Speaker of Parliament Richard Sulík announced.
Trade unions protest in Detva today against Labour Code changes
Another protest by trade unionists against proposed changes to the Labour Code will take place in Detva (Banská Bystrica Region) on Friday, February 11, representatives of the KOVO trade union told the TASR newswire.
President Gašparovič again refuses to sign amendment to State Language Act
Rules for the use of Slovak – as defined in the current State Language Act passed under the previous Robert Fico-led government – will be toned down as of March, even though President Ivan Gašparovič has again refused to sign an amendment to the State Language Act that he had previously vetoed. The amended law was originally set to become effective as of January, but Gašparovič' veto delayed the process, the TASR newswire wrote.
Analysts: Coalition will attempt to divide Ordinary People faction
Having Igor Matovič dismissed from the Freedom and Solidarity (SaS) caucus but letting the remaining three representatives of the Ordinary People faction stay indicates that the governing coalition will attempt to tear this group apart, political analyst Juraj Marušiak told the TASR newswire on Thursday, February 10.
Procházka: Demands for my punishment will fall on deaf ears
Appeals made by Most-Híd chairman Béla Bugár to the Christian Democratic Movement (KDH) to take disciplinary action against Constitutional Committee chairman and KDH MP Radoslav Procházka over his decision to vote for an opposition amendment to the State Citizenship Act will fall on deaf ears, Procházka said on Thursday, February 10.
Quote of the week
“I have always wanted there only to be independent MPs in parliament, who would decide freely according to their consciences.” Igor Matovič, speaking after becoming an independent MP himself following his sacking from the SaS parliamentary caucus
Coalition loses another MP
THE ISSUE of dual citizenship is proving as controversial as ever, and led to a major disagreement within the coalition on February 10. After parliament failed to pass the coalition’s draft amendment of the citizenship law and two coalition MPs voted in favour of an opposition draft, Most-Híd blocked parliamentary business, leading Freedom and Solidarity (SaS) to sack renegade MP Igor Matovič from its parliamentary caucus.
Different views of Žilina transport strike
Unions and transport companies have expressed differing opinions about whether a bus drivers’ strike in Žilina on Wednesday, February 9, was successful or not. According to the OZ KOVO union, which wanted to demonstrate its opposition to proposed amendments to the Labour Code, the management and operators of the city transport company threatened drivers who said they would join the strike.
State appoints managers to Slovenské Elektrárne’s boards
On Wednesday, February 9, the National Property Fund (FNM) appointed managers who will represent the state on the boards of the country’s dominant power producer Slovenské Elektrárne, a.s. Company spokeswoman Janka Burdová told the SITA newswire that based on the fund’s proposal the company’s General Assembly at the end of last week elected new members of the board of directors and the supervisory board.
Employment in industry increased 2.7 percent y-o-y in December
Employment in industry grew 2.7 percent year-on-year in the last month of 2010. The Slovak Statistics Office also reported that the sectors of transport and storage reported a 0.7-percent increase in the number of employees compared to December 2009, the SITA newswire wrote.
Dual Citizenship Act unchanged
Slovak MPs on Thursday, February 10, passed none of the three proposed amendments to the Dual Citizenship Act submitted to parliament, meaning that the existing legal situation remains unchanged. The coalition withdrew its proposal from parliament after Igor Matovič (a member of the Ordinary People faction of the coalition Freedom and Solidarity (SaS) party), together with opposition MPs and Radoslav Procházka (of the coalition Christian Democratic Movement (KDH)), proposed a separate amendment.
Coalition postpones vote on State Citizenship Act amendment
The vote in the Slovak parliament on three changes in the law to address the issue of dual citizenship has been postponed to February 10 as all coalition MPs could not reach an earlier agreement on the final version of its proposal, the TASR newswire reported. Freedom and Solidarity MP Igor Matovič (from the Ordinary People faction) wants to modify the coalition proposal with his own amending proposal – a move supported by opposition MPs, other MPs in the Ordinary People faction, and Constitutional Committee Chairman Radoslav Procházka from the Christian Democratic Movement (KDH).
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- Slovak female triathlete shatters barriers with historic win at Himalayan event
- Slovakia loses another EV model to Spain as Stellantis chooses Zaragoza over Trnava
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- No more photos or bank statements? Slovakia moves to ease residence process
- The Kremlin’s security agency has a Russian contractor in Slovakia - no one has noticed
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- News digest: Fico’s bloc wants to save money by restricting electoral access More articles ›
