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BUSINESS BRIEFS

IRB sale to close in December

The privatisation of Slovakia's Investment and Development Bank (IRB) to Hungary's OTP Bank should be confirmed in the first week of December, Finance Minister Brigita Schmögnerová has said.

Cabinet on November 7 approved the sale of a 92.5% stake in the finance house for Sk700 million. OTP, founded 50 years ago, has market share of 23% in Hungary.

IRB posted a loss of Sk193 million for the first three quarters of this year.

Top stories

State insulation falls behind expectations, ministry widens support

Only 134 homeowners in the first round and 62 in the second applied for a subsidy via the insulation programme.

Only 134 homeowners in the first round and 62 in the second applied for a subsidy via the state insulation programme. Illustration stock photo

US philosopher with Slovak roots, Michael Novak, dies

The man who advised politicians and even presidents Gerald Ford and James Carter died on February 17, aged 83.

Michael Novak

Fee has a negative impact

Practice shows that municipalities will require investors to pay the fee for development from their own budgets and at the same time to also cover the so-called induced investments.

Some municipalities want to re-think the fee.

Discovery made hard mining work more efficient

Gunpowder was used to blow up the rock for the first time in the Upper Bieber adit for the first time 390 years ago.