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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

Voters don’t understand self-governing regions

Rules for regional elections change, which may bring some surprising victories.

One of the biggest fights is expected in Banská Bystrica Region.

Sagan rewrites history Video

Cyclist Peter Sagan becomes the first man to win three consecutive world championships. He allegedly did not expect it and was easy with the idea he would not win.

Ballet legend Sergei Polunin will be guest of SND

The world-renowned personality of contemporary ballet will present two choreographies at the Slovak National Theatre in September.

Sergei Polunin

Blog: Why did I come here?

A group of teachers and students from the Bratislava-based school gathered to support their friend, colleague, and fellow foreigner, as she had already tried four times just to get in the door of the foreign police.

Queue in front of the foreigners' police department in Bratislava.