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CORPORATE NEWS

Nafta, Bank Austria sign $10m loan

Nafta Gbely and Bank Austria signed a loan contract worth $10 million on July 7. The loan, which matures in 2000, will be drawn gradually in US dollars or in Deutsch marks. The interest rate is tied to LIBOR and the interest rate spread of a creditor is up to 1 percent p.a. The loan was non-collateral.

Bank officials said that such lucrative conditions partially stemmed from Nafta's current economic situation and market position, but added that the development prospects of Nafta and its partner, the state-run gas company SPP, meant most.

"The loan will be used to cover operational costs and reconstruction of Nafta's underground natural gas storage facilities," said Jozef Čechovič, Nafta's economic director.

Top stories

In praise of concrete

It was once notorious for its drab tower blocks and urban crime, but Petržalka now epitomises modern Slovakia.

Petržalka is the epitome of communist-era architecture.

Slow down, fashion

Most people are unaware that buying too many clothes too harms the environment.

In shallow waters, experts are expendable

Mihál says that it is Sulík, the man whom his political opponents mocked for having a calculator for a brain, who “is pulling the party out of liberal waters and towards somewhere completely different”.

Richard Sulík is a man of slang.

Blog: Exploring 20th century military sites in Bratislava

It seems to be the fate of military sites and objects in Bratislava that none of them were ever used for the purposes they were built for - cavernas from WWI, bunkers from WWII, nuclear shelters or the anti-aircraft…

One nuclear shelter with a capacity for several hundred people now serves as a music club with suitable name Subclub (formerly U-club).