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ECONOMIC BRIEFS

IBRD reports on Slovakia

Report by the International Bank for Reconstruction and Development (IBRD):"Dubious steps taken by the Slovak politicians, which in some cases have led to the exclusion of foreign investors from the process of privatizing companies and banks, could become an obstacle in the Slovak Republic¦s attempt to unite with the EU." The IBRD mainly disagrees with the conspiracy during the second wave of privatization, in which Slovak investors with appropiate political contacts were handed preference. During the previous two years, the FNM sold companies with a book value of 100 billion Sk for unrealistically low prices, the bank sharply criticizes Premier Vladimír MeŹiar for this. The image of the Slovak industrial policy will be one of the obslacle in joining the EU, the EBRD concludes.

Top stories

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

Ryanair cancels some flights from and to Bratislava

The Irish low-cost airline publishes full list of cancellations

Irish budget airline Ryanair is believed to be cancelling up to 50 flights every day over the next six weeks because it "messed up" its pilots' holiday schedules.