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IN SHORT BUSINESS

NBS will attempt to slow crown

IF the crown increases in value too fast, the National Bank of Slovakia (NBS) will again try to slow it down. In previous months, the NBS has tried to slow the crown's rise by buying foreign exchange and cutting the NBS's key interest rates.

The new NBS governor Ivan Šramko suggested in the daily SME that he would continue with this policy.

He said that a too strong crown hurts not just exporters but the whole economy. If the crown increases in value too fast then industry and its employees could be hit..

The new governor is convinced that too fast a rise in value would unsettle the Slovak economy and consequently cause a drop in the currency's value. He sees room for an appreciation of three percent for the crown on the year.

Top stories

PM Fico before Smer congress: I don’t want to run for president

At the party congress, vice-chairman of the ruling party, Marek Maďarič, has been replaced by Richard Raši. Otherwise, no major changes have taken place.

L-R: PM Robert Fico, outgoing Žilina governor adn Smer vice-chair Juraj Blanár, Culture Minister and resigned vice-chair Marke Maďarič, and his successor in party position, Košice Mayor Richard Raši at Decemebr 9 congress.

The increasingly rare wood grouse is being driven out of Slovakia's forests

Foresters plant too many trees in bare areas destroying the natural habitat of western capercaillie (Tetrao urogallus).

Wood grouse

Automation is finding its way

Autonomous vehicles and process connections through Logistics 4.0 are the biggest trends in Slovakia.

Online retailer Amazon opened its new returns centre in Sereď in mid-November.