List of author's articles
Despite high prices, Slovaks flock to cottages for New Year's Eve
Even accommodations in lesser-known areas are easily reserved.
Creating a responsible and meaningful digital world
GoodRequest is present in the lives of many people via their apps and webs.
Money in your account in seconds. Instant payments are about to become reality
Three Slovak banks will launch instant payments on February 1.
Can the Blue Card beat the Green Card?
Highly-skilled workers looking for better job opportunities abroad have always been very attracted to the US labour market which has offered a more welcoming environment and transparent legal conditions for qualified immigrants than many other markets, including countries of the European Union.
Crisis: an end to the brain drain?
Brain drain used to be a real headache for businesses and academia in Slovakia. Over the past two decades the Slovak economy witnessed some of its smartest young people taking up jobs abroad after graduating from the best Slovak universities mostly in search of better opportunities for professional growth and better financial conditions.
Slovak wages set to stagnate in 2009
Slovaks should not expect much higher salaries in the coming months. Because the country’s economy has entered a crisis mode, employers will be more reluctant to increase wages. Even the trade unions agreed during their recent negotiations with the government to be moderate when demanding wage hikes. On the other hand, weakening currencies in neighbouring countries which are not part of the eurozone means that Slovakia’s euro salaries will grow in comparison with salaries in other non-euro countries.
A roundup of the year in business
PREPARATIONS for the euro and the global financial crisis had the most significant influence on Slovakia’s economy this year.
A year of crisis and opportunity
PRIVATE equity firms in Slovakia rate 2008 as a year which some players might have a hard time recovering from. In the course of the year, the market was hit by the financial crisis. As a result, the market might next year see less flexible firms departing, but at the same time new investment opportunities opening up.
Slovak red tape a problem for investors
THE HISTORY of Korean investment in Slovakia dates back to 2002, when one of its main players in the electro-technical industry set up production here. The second milestone occurred in 2004, when a South Korean carmaker announced it would invest in Slovakia, according to the Korean Embassy.Since then, 70 Korean companies have invested about $2 billion in Slovakia and hired about 20,000 Slovak employees. Korean entrepreneurs praise Slovakia’s business environment and its location, which allows for easy access to the EU market. The disadvantages are red tape, lengthy administrative procedures and an outdated education system, they say.
The capital still packs a punch
WESTERN Slovakia has almost always been the most developed part of the country. Its has advanced infrastructure, connections to international corridors and a relatively low unemployment rate. It is home to many large investors and companies such as Volkswagen, PSA Peugeot Citroen, the Slovnaft refinery, the Slovak gas utility (SPP), Slovenské Elektrárne power producer, Sony, Samsung, Leoni, Continental Matador and many others.
Investors get a new fund
SLOVAKS are slowly getting used to investment funds. The majority of retail investment funds, such as mutual funds and pension funds, have gained a foothold on the Slovak financial market. But investment funds requiring long-term, considerable investment, such as qualified investor funds, remain largely unknown to Slovak investors and legislation.
Battening down the hatches
Consultants say that this represents an end to the era of speculative projects during which people felt that anything that was put up could be sold. Instead, developers will come under pressure to be more selective in terms of the number and types of projects they pursue, as well as more careful in attending to the preferences of their clients.
Some like it simple, some do not
DRIVERS wishing to change their provider of compulsory third party liability insurance for 2009 were required to do so by mid-November, as the market is undergoing several changes next year.
Slovak car sales buck European trend
THE NUMBER of newly registered cars in Slovakia continues to grow. This is in contrast to the news from western markets, which are recording falling car sales because of the financial crisis.
Automotive producers to halt expansion plans
THE AUTOMOTIVE industry, which is one of the key industries in the country, initiated the record growth of the Slovak economy over the last several years. But the automotive industry is very sensitive to the changes in global economy. The global crisis thus will have a negative impact on the car industry, and car makers with plants in Slovakia will probably cancel or postpone their expansion projects, according to analysts.
E-government still largely just on paper
THE NATIONAL Concept of IT Introduction in Public Administration, which was adopted in May, is the latest document in which the Slovak government specifies a plan for providing e-government services at state offices.
Online is catching up with print
ONLINE advertising is the fastest growing segment in the Slovak market, as in much of the rest of the world, and this growth is occurring at the expense of the print media, analysts say.
A business would not steal a car but software...
IN MAY this year, shop assistants at two computer retailers in Štúrovo, southern Slovakia, offered to install pirated software on a PC that a customer had inquired about buying. The assistants told the customer they could pretend as if they had accidentally left the software on the computer’s hard disk, so that it would not appear on the invoice. Those shop assistants are now being prosecuted for software piracy, as the customer was actually a member of the Business Software Alliance (BSA).
Biomass is an unfunded priority
THE USE of biomass fuel is increasing in Slovakia, but its supporters contend that the legislation on supporting renewable energy resources is inadequate and unstable, which impedes large investment projects. This is true even though an action plan adopted by the Slovak cabinet at the beginning of the year listed biomass as one of the country’s best potential forms of renewable energy.
Energy strategy targets quality and affordability
THE GOVERNMENT approved its Strategy on Energy Security on October 15, about a year after it was first made public. It is a long-term plan for how to secure reliable supplies of all types of energy resources.
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- A car park rises. An Italian’s business is on the line.
- The start of the Bratislava-Vienna train
- Two American tourists rushed to hospital after ‘boozing too hard’, Slovak police say
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- Lawyer attacked in Slovakia after confronting men giving Nazi salutes linked to pro-Russian group
- Slovakia’s low jobless rate masks deep regional gaps
- Divný Janko, Bratislava: The eatery with a claim to be the city’s oldest — restaurant review
- Slovakia brings in “law against laziness”
- Slovaks paint Fico, dismantle a Nazi skull and half-finish a queen Photo
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- Slovak scientists developing innovative drug delivery platform for smarter therapies More articles ›
