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ECONOMIC BRIEFS

Merrill Lynch analyzes this year

The international investment bank Merrill Lynch offered this preview of the Slovak crown's (Sk) development in 1997: "The exchange rate of the Slovak crown will most likely weaken this year, within the set fluctuation spread, by 4 percent from the $/DEM benchmark. It is not likely, though, that the Sk's rate will move outside the fluctuation band of +,- 7 percent noting the Central Bank's willingness to support theSk's stability. However, mainly long-term investors should take into consideration the growing deficit in the current payments' account, which could support the weakening of the exchange rate during the year. The current account deficit could grow from an estimated 10 percent of GDP in 1996 to 12 percent of GDP in 1997."

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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