Spectator on facebook

Spectator on facebook

CORPORATE NEWS

Slovak Railways to become JSC

A new bill on Slovak Railways (ŽSR), which would allow the transformation of the currently state-run company into a joint stock company, should be discussed by cabinet before the end of the year. Michal Lazar, ŽSR Director, said that the company's privatization has long been pointlessly postponed and that he hopes the change in the company's statutes will enable it to solve its most pressing problems, namely growing debt, obsolescence of railway cars, and continuing decline in output. The state doesn't cover the company's losses from personal transport anymore, so ŽSR has to make up for it from freight transport, whose output decline exceeded 50 percent over the past year. This year ŽSR has already lost 4 billion Sk and total debts have doubled since the beginning of 1997. Lazar said that ŽSR should make an effort to clarify the financial flows within the company, increase bargain prices for freight transport and restructure the loan burden in favor of long-term loans and leasing financing.

Top stories

Robert Fico has lost the electoral magic he once had Plus

But his party can still bounce back if they do the things that make parties resilient.

Robert Fico claims that Smer won the regional elections because it is the party with the most chairs in regional councils.

How propaganda has learned to use the truth

The Czech Centre for Investigative Journalism analysed the information war in the Visegrad Group countries.

Migration crisis was one of causes for the rise in conspiracies and fake or hybrid news; illustrative stock photo

New legislation protects creditors from unfair mergers

Fraudulent mergers were a legal business model enabling unfair businesses to get rid of debts

Tightening conditions when merging companies will increase the red tape of lawful mergers and prolong this procedure.

PSA will produce electric motors in Trnava

The French carmaker re-evaluated original plans and announced it will produce electric motors in its Slovak plant.

PSA Peugeot Citroën plant in Trnava