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CORPORATE BRIEFS

Slovnaft to begin investor talks in October

Oil refiner Slovnaft hopes to begin talks on the entry of a foreign partner into the refinery in the second half of October. Slovnaft wants to offer a strategic partner a 34% stake in the company, under the supervision of investment bank Solomon Smith Barney.

Slovnaft is majority owned by a management company called Slovintegra, which holds a 54% stake.

In the first half of 1999, Slovnaft's sales were 15.7 billion Slovak crowns ($390 million), of which exports accounted for 63%. Slovnaft reported losses of 2.95 billion crowns in 1H99, mostly due to the creation of 3.82 billion crowns in reserves on forex losses. Operating profit fell to 1.04 billion crowns, 540 million down from the same period last year.

Slovnaft's key investment project, a heavy-oil processing operation known as Environmental Fuel Project Apollo (EFPA) has been put into partial operation. EFPA, which will cost a total of $526 million, is scheduled to be finished by the end of the year, and is expected to put Slovnaft among the ten most modern refineries in Europe.

Top stories

Kiska: Even Europe has its aggressive neighbour

President Andrej Kiska addressed UN commenting poverty, instability and climate change.

President Andrej Kiska

Ryanair cancels some flights from and to Bratislava

The Irish low-cost airline publishes full list of cancellations

Irish budget airline Ryanair is believed to be cancelling up to 50 flights every day over the next six weeks because it "messed up" its pilots' holiday schedules.

No fees bring higher summer roaming

EU regulation raises the volume of roaming calls and data with Slovak mobile operators .

People should pay attention on used data abroad.

Fundamental values explored at Divadelná Nitra 2017

This time round, the Slovak, European and US ensembles at the theatre festival focus on #fundamentals, i.e. basic values and the essence of all things.

Nature Theatre of Oklahoma: Pursuit of Happiness