BUSINESS SHORTS

Foreign investors send record profits home

MAJOR foreign investors in Slovakia have sent record-high dividends to their home countries this year, the Pravda daily reported on July 6.

Dividends leaving Slovakia from U.S. Steel, the gas utility SPP, the Slovnaft oil refinery, banks, power distributors and small businesses, added up to Sk70 billion (€2.1 billion), the Slovenská Sporiteľňa bank reported.

"The economy is growing quickly, as are corporate profits," Slovenská Sporiteľňa analyst Michal Mušák told the daily. "So the outflow of dividends will probably not slow down in the near future."

The dividends came from last year's profits.

Mušák expects the amount of money ending up in the hands of foreign owners will rise in the future.

"Some big investments made in the recent past, such as by car-makers, will begin creating profits," he said.

Get daily Slovak news directly to your inbox

Top stories

News digest: Security Council will meet to discuss nationwide testing

Overview of news from Monday, October 19, 2020.

PM Igor Matovič announcing some details about nationwide testing on October 18.

PM wants to test everyone, Kotleba already positive in neo-Nazism

Nationwide testing is less utopian than the blackout but it is driven by the same ambition.

PM Igor Matovič shows the antigen testing kit that should be used in the nationwide testing project in Slovakia.

Matovič keeps falling. The effect of the dispute with its coalition partner is hard to guess

The senior coalition party was defeated by ex-PM Pellegrini’s movement, the Focus poll shows.

PM Igor Matovič

UPDATED: Nationwide testing will be secured by the army

Foreigners living in Slovakia will be able to get tested too.

Illustrative stock photo