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ECONOMIC BRIEFS

Slovak SAX index hits yet another low

The Slovak SAX index hit yet another all time low on October 21, falling 2.34 points or 2.48% to 91.93 in quiet trading. The drop was caused by decreases in the prices of drugs-maker Slovakofarma and refinery Slovnaft by 6.3 and 4.4% respectively. "General lethargy persists," J&T Securities Marian Herman said after the close, adding that the markets were waiting for signals from a new government, signs of crown stability or global investment climate changes. "Foreign investors seem to be waiting to hear something positive about the market," he added. Overall volume, including direct trades registered at the bourse, was 11,056 shares up from 9,533 shares traded on October 20. Turnover was 86.62 million crowns ($2.39 million) up from 5.00 million crowns.

Top stories

Slovaks drink less and less

Behind the decline in alcohol consumption is, for example, the abandoning of the habit of drinking at work – typical especially during communism, according to an expert.

Kiska: Even Europe has its aggressive neighbour

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

President Andrej Kiska

Arca Capital enters the banking sector

Czech and Slovak financial group acquires a majority share in Austrian private bank Wiener Privatbank.

Bank, illustrative stock photo

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.