BUSINESS IN SHORT

New rules for setting minimum wage in Slovakia

AS OF February 1, the minimum wage in Slovakia is being set according to new rules introduced by new legislation, the SITA newswire wrote.

AS OF February 1, the minimum wage in Slovakia is being set according to new rules introduced by new legislation, the SITA newswire wrote.

According to the amended law on minimum wage valid as of February 1, employers have to agree with union representatives on the new level of the minimum wage. Their negotiations must start by April 1 at the latest. In the event that social partners fail to reach a consensus on minimum wage growth, the minimum wage will be increased by the growth rate of the average monthly nominal wage in Slovakia every year as of January 1.

The minimum wage will increase according to the new mechanism for the first time as of January 1, 2009. Minimum wage, which was increased to Sk8,100 in early October of 2007, will thus be valid until the end of 2008.

Get daily Slovak news directly to your inbox

Top stories

Investors pursued projects and transactions despite the virus

Investors pursued projects and transactions despite the virus. Check out the 2020 investment highlights from Slovakia.

The visualisation of new Istropolis building

Better times ahead for the Calvary in Bratislava

The last preserved station was restored this summer.

The last preserved station of the Stations of the Cross in Bratislava

Why you need to buy a belt

On this Black Friday, with society teetering on the brink of chaos, I ask that we all do our part.

Roundup: Bratislava’s Old Market Hall hosts Christmas markets

If you have not watched the 'Dracula' miniseries, filmed in Slovakia last year, it is about time.

Bratislava’s Old Market Hall will provide visitors with Christmas vibes in the coming four weeks. Each week, from Wednesday to Saturday, people can do a little bit of Christmas shopping at the venue.