Spectator on facebook

Spectator on facebook

CORPORATE BRIEFS

Černák says SPP-FNM joint venture on cabinet's agenda for June 16

Economy Minister Ľudovít Černák said on June 7 that cabinet would discuss a draft bill on the establishment of a joint venture between the FNM privatisation agency and state gas monopoly SPP for control of the gas storage companies Nafta Gbely and Nafta Trade at its June 16 session.

Černák said that FNM and SPP lawyers had spent many days negotiating the return of the Nafta stakes from a former top-ranking official of the Movement for a Democratic Slovakia (HZDS), Trnava entrepreneur Vladimír Poór. The minister said he was not worried that Poór might sell his Nafta stake to a foreign investor.

FNM President Ľudovít Kaník said that SPP could in future buy the FNM's stake in the joint-venture company. Kanik said the FNM was not discriminating between investors, but stressed that the FNM would sell its stake in the joint-venture only to a strong investor. Any decision to sell the FNM's stake to the SPP, thus, would depend on whether the SPP had enough money to invest.

Nafta ended 1Q99 with a profit of 257.5 million Slovak crowns, up from 200.3 million crowns profit in the same period of 1998. Output grew 19% to 783.9 million crowns on almost doubled production costs of 316.4 million crowns.

Top stories

When the state can’t keep a secret

A selective leak has tarnished President Kiska’s reputation. But he must continue to speak out about corruption.

President Andrej Kiska

Austria launches random checks close to Slovakia’s borders

Refugees are using new smuggling routes, according to the Austrian minister.

Illustrative stock photo

Unemployment rate continues to decline

The still steeper fall in unemployment could be curbed by the type of jobseekers, analysts opine.

Carmakers have already complained about the lack of qualified labour.

Coalition only agrees on how to talk. But what will they talk about?

Budget talks to decide on concrete policies. Danko wants airplanes, Fico wants better pay for nights and weekends.

Danko, Fico, Bugar.