Spectator on facebook

Spectator on facebook

BUSINESS SHORTS

Kia wants additional investment stimulus

SOUTH Korean car-maker Kia has confirmed its intention to expand production at its plant near Žilina. Kia is now set to produce 300,000 cars and 300,000 vehicle engines in Slovakia per year, having originally planned an annual production of 200,000 for both cars and engines, the Sme daily reported on November 9.

Kia's investment, therefore, will increase from the originally planned €800 million to around €1 billion. On November 8, Kia spokesman Dušan Dvořák confirmed that his company has also asked the Economy Ministry for an additional.

According to the Slovak Trade and Investment Development Agency (SARIO), the original state subsidy approved for Kia, to be paid in instalments, stood at €113.8 million.

EU rules, meanwhile, say that state support is allowed to reach a maximum of 15 percent of acknowledgeable investment costs. As Kia plans to increase its investment by some €200 million, the company could receive as much as an extra €30 million.

Top stories

Poll: Smer followed by SaS, KDH also in parliament

Had the general election taken place in mid-February, the opposition Freedom and Solidarity (SaS) would place second, and the now extra-parliamentary KDH would get nine seats.

Alojz Hlina took over at the helm of KDH

Woman who urinated on the Quran arrested, awaiting trial

Some observers believe the video might lead to increasing security risks for Slovakia.

The accused woman arrives to the court.

It takes nuts to help Kenyans

Slovakia has provided more than €10 million to the Kenyan people since 2005.

Muruku slum in Naorobi

President refuses to sign bill on registration of religions for second time

Although President Andrej Kiska repeatedly refused to ink the amendment to the law on religious freedom and the status of religious communities, it will become valid as of March 1.

President Andrej Kiska, illustrative stock photo