List of author's articles, page 4
Moscow visit almost seals rich gas deal
A pipeline running gas from Russia to the West and crossing Slovakia will almost certainly be built, Economy Minister Ľubomír Harach has confirmed.The Jamal II pipeline, to be constructed by the Russian gas giant Gazprom, would see 60 billion cubic metres of gas pumped through Slovakia - a potential source of huge revenues in transport fees.The 90 billion cubic metres that already flow through Slovak gas distributor SPP's pipes every year - two-thirds of the gas imported into western Europe - have brought massive revenues to successive Slovak governments.
Consumers may be on bad end of lucrative sell-offs
The lucrative sell-offs in the energy sector may result in higher prices for consumers, the government has warned.Adverts for a tender for 49% state stakes in VSE, ZSE and SSE appeared in foreign and domestic media November 9.But Economy Ministry officials immediately warned new owners would be able to hike tariffs to a maximum level set by a new regulatory body - a maximum that could be much higher than at present.
Ministry moves to stop energy sale flop
The Economy Ministry has appealed to a regional court in an attempt to stop the privatisation of one of Slovakia's key energy companies being derailed.Economy Minister Ľubomír Harach announced October 31 his ministry was appealing an earlier "scandalous" ruling by a court in the east Slovak town of Humenné to a higher regional court in Prešov.A judge ruled October 15 that shares in state pipeline operator Transpetrol could not be traded because of an unresolved dispute over tax payments between a private firm and the Finance Ministry.
Council: Markíza is Ano mouthpiece
The Slovak Licence Council is to take action against the country's biggest TV station for bias in favour of its owner's political party.The Council Chairman, Peter Kováč, told The Slovak Spectator November 5: "We carried out our own monitoring in August and found that in news and news feature pieces on TV Markíza, Pavol Rusko's station, there was a bias towards his Ano party. Therefore we have decided to start administrative proceedings."But the council will not be issuing a fine or revoking the station's broadcasting licence, he added.
Investment grade rise backs FDI boom
A top ratings agency has moved Slovakia to investment grade on the back of economic reform and its faith in the country's continuing an "excellent relationship with the EU" after 2002 elections.Standard & Poor's, one of the three biggest global ratings agencies, announced October 30 it had raised the country's rating from BBB+ to A-.The move now means Slovakia can not only get foreign credit cheaper but is likely to attract far more investment.
Minister: Slovakia safer than US
Finance Minister Brigita Schmögnerová says Slovakia is a safer place for investors than the US.Speaking after a press conference the minister told The Slovak Spectator: "Right now we believe that Slovakia is a safer place to invest than, say, America."Schmögnerová made the statement in support of her belief that the forthcoming privatisation of Slovak monopoly insurer Slovenská poisťovňa (SP) would attract investors looking for low risk.
Bank sector sales come to close
The sell-off of the country's biggest banks has closed with the sale of Investičná a rozvojová banka to Hungary's OTP bank.Approval of the sale of a 92.5% stake in the finance house by cabinet is expected November 7.The Privatisation Ministry had already agreed to a Sk700 million ($14 million) offer for the bank which only two years ago was under forced administration.
Surgeon charged over botched Schuster op
The surgeon who allegedly botched an operation and nearly killed Slovak President Rudolf Schuster last year has been charged with causing bodily harm.But he may go unpunished if the president sticks to his promise to grant a pardon to anyone involved in the near tragedy.A spokesman for the police department's investigation team, Stanislav Ryban, said October 29 a man had been charged. But he refused to name the surgeon and said the Interior Ministry had put an information embargo on the case.
World Bank: Benefit system traps poor
Slovakia is littered with "islands of poverty" and has a social security system which risks creating a poverty trap, a report from the World Bank has warned.A country report presented by the bank October 24 warned that a "soft" Slovak benefits system discouraged people from looking for work.It also said that while the nation was relatively poverty-free compared to other former eastern bloc states, more than twice as many Slovaks as Poles or Hungarians were forced to live on just $2 a day.
Huge premium threat as monopoly comes to end
Motorists may face 20% higher premiums once a monopoly enjoyed by Slovenská poisťovňa (SP) on third party liability insurance ends next year.Insurance bosses are warning potential clients that prices for accident coverage will rise by a fifth in some cases despite increased competition on the market.Slovak insurance firm Kooperatíva has already told car owners to expect steep rises, and other companies have issued the same stark warnings.
Minister's son charged with fraud
The son of Slovakia's Justice Minister has been charged with fraud for his role in an alleged $30 million promissory note scam.Lawyer Ján Čarnogurský Jr was accused by a Žilina prosecutor October 24 of the crime. He immediately rejected the charges.He also declared that the police investigator on the case, Jozef Sochulák, was biased and had wrongly accused people.
Terrorists warned: Our banks not open for your business
Finance Minister Brigita Schmögnerová has warned terrorists they cannot use Slovak bank accounts to fund their activities.Speaking to The Slovak Spectator October 22, the Finance Minister said: "If there aren't strong enough laws here terrorists could take money from states where stricter legislation is in force and bring it here. It must be made clear that it will not be possible to have such accounts in Slovakia."The minister's warning came after representatives of the Slovak Bank Association, the National Bank of Slovakia, the Securities Centre and the Customs and Tax Directorate met October 18 to discuss legislation on suspect accounts at Slovak banks.
Mafia push operations into corporate circles
The Interior Minister and financial police have warned that mafia gangs are moving into large-scale economic crime in an effort to up profits and fund their activities.Financial police have forecasted a rise in money laundering and large scale corporate crime by organised crime gangs this year, and say banks are reporting more suspicious operations.The modernisation of banking services, such as electronic banking, is also facilitating and assisting financial crime.
Divided cabinet backtracks on gas rises for households
Households will not be asked to pay more for gas, a divided cabinet has decided.Government has ditched plans to hike prices by 19.3% for both firms and ordinary households and on October 24 accepted an earlier decision by the coalition council - a senior government body - to raise prices only for companies as of January 1 next year.Prime Minister Mikuláš Dzurinda also promised to freeze gas prices for households at their current level until the end of his government's term in September 2002.
Media moguls prepare for TV war
Slovak media magnate Pavol Rusko is promising to wage war against his former friend Vladimír Železný.Rusko, whose Slovak media empire covers TV Markíza, radio stations and a national daily, launched a bitter attack on the Czech television tycoon just hours before Železný was granted a broadcast licence for Slovakia.Comparing Železný to notorious Czech financial fugitive Viktor Kožený, Rusko said: "If Kožený comes to Slovakia and wants a banking licence, will he be granted one?"
Report slams Slovakia on minorities
A report submitted to the European Union (EU) has slated Slovakia for its poor performance on minority problems, but has at the same time caused a backlash from Roma experts who say its conclusions are wrong.The results of monitoring carried out by the Open Society Institute (OSI) were published on October 11 and described minorities, Roma in particular, as suffering discrimination in most areas of society.The OSI brief will shape an EU country report on Slovakia, expected this November, and thus is expected to play an important role in how the EU will evaluate Slovakia's progress towards full Union membership. The country has said it aims to be ready to join at the end of 2002.
Cabinet dissolves investment agency
The state investment agency, Sario, is to be dissolved, cabinet has decided.The troubled agency, created only last summer, is to be liquidated as a joint stock company and to become a part of the Economy Ministry.The move is another step backwards in the government's efforts to attract more foreign direct investment (FDI), said key players in the Slovak investment sector.
Bio-terrorism panic hits Slovakia
Slovak services were brought to a standstill last week due to a series of anthrax alerts across the country.Government offices were partially evacuated October 16 after Prime Minister Mikuláš Dzurinda received a suspicious package. An envelope addressed directly to Dzurinda containing a card which read "cheers" was opened by office staff. It was immediately delivered to the police and taken for tests for the deadly bug anthrax.The scare came as the number of reports of suspicious mail rose across the country. At the Piešťany post office October 16 two envelopes were discovered to contain an unidentified white powder. Twenty-four people were later sent to a special isolation ward in Trnava hospital in connection with the incident.
Bank report downplays business fears of Mečiar return
The threat of an economic crisis if Vladimír Mečiar is returned to power is overestimated, according to a report released by one of the world's top banks.ING Bank's Slovak research house on October 11 issued a report at the request of its clients to calm growing nerves over a predicted "catastrophic" scenario for the economy in which the former PM would again lead the country following elections set for September 2002.Quelling fears of an overheating economy driven by reckless economic policies, ING argued that the influence of politicians has been dramatically reduced under the current government.
Rusko stung by reports of media abuse
Weeks after a damning report was released by a media watchdog, political party leader Pavol Rusko has been stung by new evidence his media empire is being used for political gain.Rusko, leader of the Ano (Alliance of the New Citizen) party and owner of Slovakia's most popular TV station, Markíza, was presented with the results of radio monitoring from the state Broadcasting and Transmission Council (RVR) October 9.Radio Okey, which is believed to be heavily under the influence of Rusko, gave excessive airtime preference to Ano between April and May, said the council's report. Just 10 days earlier, independent media monitor Memo 98 had said Markíza had given a similar bias to the party in the same period.
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