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CORPORATE NEWS

SP acquires majority IRB stake

The National Bank of Slovakia (NBS) said on June 10 that the biggest Slovak insurer, Slovenská Poisťovňa (SP) had acquired a 66.7% stake in the troubled IRB bank by subscribing the entire two billion Sk ($57.6 million) share issue. The IRB, whose basic capital is now three billion Sk, was put under caretaker administration by the NBS last December due to liquidity problems. In 1996, the bank posted a loss of about 1.2 billion Sk after heavy loan provisioning, following after-tax profits of 167.5 million Sk in 1995. Its capital adequacy ratio fell to 2.93% at the end of 1996 from 7.25% at the end of 1995.

Top stories

Russian spies allegedly recruit also Slovaks

They are using martial art clubs in Germany and dozens more in other EU states, in the Western Balkans, and in North America.

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EC scrutinises state aid for Jaguar Photo

There is a question whether the scrutiny may impact the carmaker’s plans to invest in Slovakia.

The construction site of a brand new plant of Jaguar Land Rover near Nitra.

GLOBSEC forum will host guests from 70 countries

The 12th year of the conference will be attended by the highest number of participants in its history.

Slovak President Andrej Kiska gives the opening speech of The Globsec 2016 security conference.

Armed forces need new armour, and more

Slovakia's armed forces need to modernise their military technology, but also improve infrastructure and make soldiers' salaries more competitive.

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