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CORPORATE NEWS

VSŽ wins bid for steel mill

VSŽ Inc., Košice, the east Slovak steel maker, announced that it won a tender to privatize the highly indebted and loss-making Hungarian company DAM Diosgyör. VSŽ will pay a symbolic $1 for the shares with a nominal value of 8 billion forints (1.4 billion Sk), but it pledged to increase the company's capital by 3 billion forints (532 million Sk). VSŽ defeated the German Max Eicher, and a Russian-Hungarian consortium in the tender.

Top stories

Cloud computing becomes a standard

External servers are now much more secure than local business ones, according to experts.

Slovak firms have their eyes on the cloud.

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