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CORPORATE NEWS

ŽSR loses 3.9bn Sk in Jan-Aug 97

Slovak Railways' (ŽSR) losses for 1996 were not 500 million Sk as originally reported, but in fact 2.5 billion Sk ($75 million). This was the result of some 1996 costs appearing in the 1997 books, said ŽSR director Michal Lazar. However, the current loss of 3.9 billion Sk for the first eight months of 1997 should not increase further, he added. Lazar said it will take at least three to four years for the company to recover. ŽSR's current debt burden is 10.2 billion Sk, 5 billion up from last April.

Regarding ŽSR's total assets worth 59 billion Sk, it is still workable. The company's management has reevaluated the discounts it provided in freight transport. For instance, the discount for VSŽ was as high as 13 percent off the regular price, and it saved VSŽ hundreds of million s of crowns. The Transportation Ministry and ŽSR have suggested a 20 percent increase in individual transport fees starting January 1, 1998, but the government has yet to approve the measure.

Top stories

EU roaming fees to end on June 15 – in theory

Slovak customers still waiting to find out how mobile operators will implement change.

Archaeologist pieces together early history of what is now western Slovakia Photo

For an archaeologist, the most important thing is his most recent rare discovery, says Július Vavák.

Students visited Svätý Jur as part of their European Wanderer project

How to sell Slovak books to English readers

Slovak literature makes it to the big bookstores of London, but it is unlikely to become a bestseller yet.

On Wednesday, Slovak literature will be presented in one of the biggest bookstores in London. Among the new books translated into English is also the anthology of current Slovak prose selected and translated by Magdalena Mullek and Júlia Sherwood.

General Prosecutor filed a motion for the dissolution of ĽSNS

The Slovak Supreme Court received a motion to dissolve the extreme right ĽSNS party founded and led by Marian Kotleba.

Jaromír Čižnár