Archive of articles - May 2013, page 7

Professionals in LEASING

Proposal to ban foreign bank branches from offering mortgages scrapped

IN THE END branches of foreign banks operating in Slovakia will continue to be allowed to provide mortgages. The Slovak parliament adopted a revision to the Bank Act, nixing the proposed restriction, on May 15. The decision to cancel a proposed ban to prohibit branches of foreign banks from providing mortgage loans was welcomed by the Slovak Banking Association (SBA) as well as UniCredit Bank Slovakia.

Top court: 'parasite' not racist term

LEAFLETS containing phrases like “gypsy parasites” cannot be considered racial defamation, the Supreme Court ruled in a hearing against Marian Kotleba, a well-known former leader of a far-right organisation.

Net profits of Slovak banks fell in 2012

THE AGGREGATE after-tax profits of Slovak banks amounted to €480 million in 2012, a fall of 29 percent compared to 2011. The drop was caused in particular by the introduction of a special bank levy and a one-off extraordinary bank levy, together with an increase in credit risk charges and provided guarantees, the National Bank of Slovakia (NBS) announced on April 16, as quoted by the SITA newswire.

Leasing market sees little growth

THE SLOVAK leasing market, which was hit hard by the economic crisis in 2009, saw little growth in 2012 and is only slowly returning to its pre-crisis level. Expectations for 2013 are not very optimistic, with leasing companies pointing to the heavier burden of income and payroll taxes on business clients as well as the effect of higher registration fees for new cars in Slovakia.

New rules to support employment

SLOVAKIA’S unemployment rate, hovering just below 15 percent, is the highest it has been in nine years. Predictions by experts for improvement this year are not encouraging. The Labour Ministry has therefore prepared several changes to the law on employment services, which will affect the aid that labour offices provide to preserve existing jobs, and is to provide the unemployed with better access to jobs. Nevertheless, the opposition suggests that the changes will do nothing to solve the high unemployment rate.

Naive Art shown in the SNG

NAIVE ART is a genre that refers to work by self-taught artists who dissociate from dominant art trends. The exhibition currently running in the Slovak National Gallery (SNG), called Medzi selankou a drámou / Between Idyll and Drama, draws from all forms of this genre, though its main focus is turned toward these art forms as they are reflected in 20th century Slovak art.

EU takes steps towards a banking union

THE EUROPEAN Union has devised an ambitious plan to create an integrated banking union for Europe, with EU leaders viewing the strengthening of the economic and monetary framework as a remedy for the current financial crisis. Slovakia, as a member of the eurozone, is supporting and participating in this process.

Bratislava is ‘liberated’ again – after 68 years

ON MAY 8 – the day celebrated as in Slovakia as the Victory over Fascism in Europe –downtown Bratislava changed into a battlefield, with the sound of gunfire, the sun being blocked by the smoke of grenades, and shouts in German and Russian filling the streets. The Slovak capital was taken back 68 years and saw – again – the battle for its liberation. A historical re-enactment in central Hviezdoslavovo Square and Jesenského Street recalled the end of the war.

Glossary: Greetings from the Land of Spices

Spectator College provides readers of The Slovak Spectator who are trying to improve their English with glossaries of useful and frequently used words and expressions from stories published as part of the Spectator College as well as in the rest of the newspaper. As well as this special glossary, which relates to the article Greetings from the Land of Spices, Glossary for politics & business or in the List of names of institutions in English and Slovak.

New leasing firm arrives in Slovakia

THE NUMBER of leasing companies operating in Slovakia has grown by one with the addition of an affiliate of the Czech firm s Autoleasing in May. The company, which has been operating in the Czech Republic since 2004, entered the Slovak market via a wholly-owned subsidiary called 's Autoleasing SK'. The company is part of the international Erste Group and is offering Slovak clients consumer loans to finance new as well as used passenger and commercial vehicles, the SITA newswire reported, citing the leasing company.

Recycling Fund to end

SLOVAKIA’s Recycling Fund should soon become history. Environment Minister Peter Žiga proposed to scrap it in his draft amendment to the law on waste, in which he also wants to prevent waste disposal facilities from purchasing scrap metal from individuals and to end the depositing of plastics, glass, paper and metal into landfills, the SITA newswire reported.

Motorised Malacky

IN THIS postcard of Malacky in the 1920s, the high quality of the photo reveals numerous details. For example, the fact that the people hanging around in the street are predominantly male, while only two women can be seen in the photo, both of whom appear to be in a hurry, which is probably how things were arranged a hundred years ago in the Záhorie region.

Over 300 employees face layoffs

UP TO 316 employees of the Galand shoe manufacturer based in Snina, in eastern Slovakia, are facing the loss of their jobs after the company reported planned layoffs at the local labour office in Humenné for May and June 2013, the SITA newswire reported.

Economy still growing, but only just

THOUGH growing at a slightly slower pace than it did in the first three months of the previous year, Slovakia’s economy in the first quarter of 2013 managed to avoid recession, unlike some of its neighbours, including France – the eurozone’s second biggest economy. While, the Slovak economy grew only slightly faster in the first quarter of 2013 than during the last three months of 2012, climbing from 0.1 percent to 0.3 percent, when compared to its performance in the same period last year, Slovakia’s economy posted 0.6 percent growth, down from 0.7 percent, according to a flash estimate of the statistics authority released on May 15.

Countrywide Events

Western SLOVAKIA

One bank fails stress tests

ONE bank operating in Slovakia failed to pass sector-wide financial stress tests conducted in April by the National Bank of Slovakia (NBS). The NBS did not, however, identify the bank, the Sme daily wrote on its website.

Circus fest revisits Bratislava

THE “FESTIVAL of circus art” Cirkul’art 2013 will again attempt to lure Bratislavans to its performances, training zones, workshops and street shows. The four-day festival, taking place both outdoors and inside a circus tent, will run from May 23-26 and feature numerous Slovak and foreign circus artists, offering programmes for children as well as adults. Some of the performances are free, while others will require an admission fee.

Exercise: Greetings from the Land of Spices

This exercise is linked to the article: Greetings from the Land of Spices.