BUSINESS BRIEFS

Peugeot gets Sk4.2 billion in tax breaks

THE FRENCH carmaker PSA Peugeot Citroen signed a contract on investment cooperation with Slovak state officials giving the firm tax breaks and subsidies worth Sk4.2 billion (100 million euro), or 15 per cent of the worth of its promised 700 million euro Slovak factory investment.

Such tax breaks are a very sensitive issue with the European Union, which forbids state assistance to firms in the steel and automotive sectors. However, EU officials have yet to comment on the aid Peugeot has apparently received from Slovakia.

In mid-January Peugeot chose west Slovakia's Trnava as the site of a massive factory to be completed by 2006 and to produce over 300,000 cars a year.

Get daily Slovak news directly to your inbox

Top stories

Old-age pension scheme gains three new features

Brand new parental bonus raises concerns.

10 h
Štefan Holý

Deputy PM Holý lied about his exception when travelling to Britain

Corruption demonstrated by a scientist who was barred from travelling.

14 h
Ján Sýkora is an easy-going ice-hockey player who has got a great sense of humour.

We are like the Detva mafia, says a hockey player who lost a bet with his wife

In an entertaining interview, the down-to-earth ice-hockey player, Ján Sýkora, talks about being a busy bee with a poor memory.

20 h

News digest: Weekend testing will be possible on buses as well as in companies

Numbers of victims of human trafficking is alarming. Coronavirus spreads among homeless people in Bratislava.

14 h