January: The year in business

SLOVAKIA has waited almost until the very end of the year for the most important news.

Slovak food inspectors imposed fines on Tesco.Slovak food inspectors imposed fines on Tesco. (Source: Sme- Vladimír Šimíček)

A British carmaker confirmed that it will build a €1.4 billion brand new plant near Nitra and thus become the fourth carmaker in Slovakia. In December the Italian energy group Enel also announced that it has agreed with the Czech Energetický a Průmyslový Holding (EPH) over the sale of half of its 66-percent stock in the dominant Slovak energy producer Slovenské Elektrárne (SE). And just some months before the next parliamentary elections scheduled for March 5, 2016, the Robert Fico cabinet continued issuing its packages of so-called social measures.

JANUARY

In spite of concerns that the EU-Russia tit-for-tat sanction war would reduce production of cars in Slovakia, the reality exceeded expectations as carmakers in Slovakia managed to find alternative markets. Carmakers manufactured 971,160 cars in 2014 while the original expectation was more than 930,000, maintaining the country’s position as the biggest carmaker per capita in the world.

Slovak food inspectors imposed a record €1 million fine on Tesco, for repeated violations in the sale of food in its Partizánske hypermarket location. Tesco officials have perceived the fine as excessive and inappropriate and challenged the fine in court. Later during 2015 Tesco received some additional hefty fines. 

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