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Last refreshed: 28/07/2026 05:39 · 38 articles added
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Economy

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Economy

Stellantis Tests Chinese Electric Vehicle Technology with Leapmotor B05

Automotive giant Stellantis has tested the Leapmotor B05, a Chinese electric vehicle that brings capable technology to the European market. The test comes as part of Stellantis's partnership with Chinese EV manufacturer Leapmotor, which the company hopes will help it compete in the rapidly growing electric vehicle sector. Stellantis, which owns brands including Peugeot, Citroën, and Fiat, has been seeking to expand its electric vehicle portfolio as European automakers face increasing competition from Chinese manufacturers who have gained significant advantages in battery technology and production costs.

SME
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Economy

HappyTravel clients demand compensation from Slovak state after travel agency collapse

Clients of the collapsed travel agency HappyTravel received only 56.65 percent of their paid money back and are now demanding the remaining funds from the Slovak state. Lawyers representing the clients argue that Slovakia improperly implemented European Union consumer protection directives and failed to establish a system guaranteeing full refunds when travel agencies declare bankruptcy. Police have been investigating suspected fraud related to the HappyTravel collapse for nearly a year. The legal representatives expect the dispute over the remaining compensation claims to be resolved through court proceedings, as they maintain the state failed to provide adequate consumer protection as required by EU law.

Dennik N
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Economy

Slovaks May Discover Retirement Savings Lost Value Only Upon Retirement

Many Slovaks will discover only when they reach retirement that money held in bank accounts has lost significant value over time due to inflation. The warning highlights a widespread lack of awareness about how inflation erodes the purchasing power of savings held in low-interest accounts, particularly affecting those who rely on traditional banking products for long-term financial planning. Slovakia, like other European countries, has experienced periods of inflation that can substantially reduce the real value of money sitting in standard savings accounts, making early financial education and investment planning crucial for retirement security.

Bratislavak
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Economy

Daimler Consolidates Military Technology Production Under New Daimler Truck Defence Brand

German automotive giant Daimler has announced plans to consolidate its military technology production operations under a new brand called Daimler Truck Defence. The company revealed it intends to invest hundreds of millions of euros in this strategic reorganization of its defense sector activities. The move represents a significant restructuring of Daimler's military vehicle and technology operations, bringing together various defense-related production capabilities under a unified brand identity.

SME
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Economy

Slovakia's Central Bank Governor Says Interest Rate Increase Was Necessary Step

Slovakia's central bank governor Peter Kažimír described the recent increase in interest rates as a necessary measure. Kažimír, who heads the National Bank of Slovakia, indicated that future monetary policy decisions will depend on how the country's economy develops in the coming period. The central bank's interest rate decisions are part of eurozone monetary policy coordination, as Slovakia adopted the euro in 2009 and follows European Central Bank guidance while maintaining some domestic policy flexibility.

SME
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Economy

ECB Governing Council Member Tempers Expectations on Hormuz Strait Reopening's Inflation Impact

A member of the European Central Bank's Governing Council has cautioned against expecting immediate inflation relief from the potential reopening of the Strait of Hormuz. The ECB official warned that restoring oil supply chains would take months to implement, meaning any impact on reducing inflation would be delayed significantly. The Strait of Hormuz is a critical maritime chokepoint through which approximately one-fifth of global oil supplies pass, connecting the Persian Gulf to international markets. Any disruption to this waterway typically causes oil price spikes, which contribute to inflationary pressures across the European economy.

SME
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Economy

EU Battery Replacement Requirement Forces Major Changes in Product Development Planning

A new European Union regulation requiring simple battery replaceability is forcing manufacturers to fundamentally restructure their planning for product development, manufacturing, and long-term customer support. The regulation represents a significant shift from current industry practices where many devices feature non-removable batteries, compelling companies to redesign products and adjust their business models to comply with the new requirement for easily replaceable batteries across consumer electronics.

TASR/Teraz
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Economy

Slovak inflation expected to remain near 4 percent this year

Economic analysts forecast that Slovak inflation will continue to hover around 4 percent throughout the current year. The analysts warn that secondary effects from higher energy prices, particularly oil and natural gas, could begin impacting consumer prices later in the year toward its end. This projection suggests Slovakia will continue to face elevated inflation levels compared to the European Central Bank's target of 2 percent, with energy costs remaining a key driver of price pressures in the Slovak economy.

TASR/Teraz
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Economy

Microsoft Implements Significant Price Increases Starting July 1

Microsoft will implement substantial price increases for its business software products beginning July 1. The technology giant's decision to raise prices has prompted concerns among companies about what some are calling an "AI tax" on standard office software. Businesses are now seeking strategies to protect their budgets from the impact of higher costs for essential workplace software tools. The price hikes affect Microsoft's suite of office applications and business software that many companies rely on for daily operations.

TASR/Teraz
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Economy

Slovak Economy Ministry Opens Public Consultation on Hydrogen Trading Proposals

Slovakia's Ministry of Economy has launched a public consultation process on draft proposals for hydrogen trading regulations. The initiative aims to support carbon neutrality goals, reduce emissions, and facilitate the country's transition away from fossil fuels. The consultation represents part of Slovakia's broader efforts to develop a regulatory framework for emerging clean energy technologies as the European Union member state works toward meeting climate targets and reducing its dependence on traditional energy sources.

SME
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Economy

Natural gas prices fall on European exchanges while electricity remains stable in Slovakia

Natural gas prices on European commodity exchanges declined significantly this week, while electricity prices in Slovakia remained largely unchanged for the sixth consecutive week. The price of electricity for Slovak consumers has shown minimal movement, staying within a narrow trading range despite broader fluctuations in European energy markets. Natural gas traded on the Title Transfer Facility (TTF), Europe's main gas trading hub, experienced notable price decreases during the 24th week of the year. The stability in Slovak electricity prices contrasts with the more volatile movements seen in natural gas markets, suggesting different supply and demand dynamics affecting the two energy sources in the region.

Aktuality
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Economy

Slovakia Raises Living Minimum, Affecting Dozens of Benefits, Pensions and Taxes

Slovakia will increase its official living minimum by 11 euros starting July 1, triggering automatic adjustments to dozens of social benefits, pensions, and tax allowances. From July, early retirement pensions will only be available to those whose monthly benefit reaches at least 472.40 euros, while parental allowances will rise to 519.60 euros monthly starting in January for those who previously received maternity benefits. Workers will see slightly higher take-home pay beginning in February due to an increase in the non-taxable income threshold. The living minimum serves as a baseline calculation for numerous government benefits and tax policies in Slovakia's social security system, meaning even modest increases have widespread effects across the country's welfare structure.

Dennik N
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Economy

Slovak Tax System Requires Further Reform, VAT Issues Highlight Problems

Slovakia's tax system needs additional reform, with value-added tax (VAT) issues particularly highlighting structural problems, according to recent economic analysis. The assessment points to ongoing complications within the country's VAT administration and collection mechanisms as evidence of broader systemic weaknesses. Slovakia has undertaken various tax reforms in recent years as part of efforts to modernize its fiscal system and improve compliance with European Union standards, but these latest findings suggest more comprehensive changes may be necessary to address persistent operational challenges.

Dennik N
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Economy

Tatra Resort CEO Defends Business Practices, Criticizes Slovak 'Envy Culture'

Igor Rattaj, CEO of Tatry Mountain Resorts (TMR), defended his company's operations in the High Tatras mountains during a video podcast, dismissing speculation about selling to Chinese investors as nonsense and stating the company has no plans to sell. Rattaj argued that the zoning regulations in the Tatras represent a good compromise between tourism development and nature protection. The business executive blamed Slovakia's economic stagnation on widespread envy toward successful and wealthy individuals, particularly among older generations, while claiming younger people are less affected by this attitude. He warned that Slovakia faces becoming a 'museum' focused only on elderly voters unless it changes its approach, expressing concern about young people leaving the country. Rattaj characterized the chaotic business environment of the 1990s as necessary 'growing pains' of capitalism that Slovakia had to experience.

Aktuality
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Economy

Highway to Zemplín Region Pushed Back in Priority Rankings by Transport Ministry

Slovakia's Transport Ministry has moved the planned highway connection to the Zemplín region down to over 200th place in its priority rankings, choosing instead to prioritize less congested highway sections. The decision has drawn criticism from regional advocates, with the head of a local association stating that "there have been enough promises already." The Zemplín region, located in eastern Slovakia near the Ukrainian border, has long sought improved highway connections to integrate better with the national transport network. The ministry's decision to deprioritize the project reflects broader challenges in Slovakia's infrastructure planning, where limited resources force difficult choices between competing regional development needs.

Korzár
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Economy

Wizz Air Carries 29.5 Million Passengers in Five Months

Budget airline Wizz Air transported 29.5 million passengers during the first five months of the year, representing an increase of 3.8 million travelers compared to the same period last year. The Hungarian-based low-cost carrier, which operates numerous routes from Slovakia including from Bratislava and Košice airports, saw passenger numbers grow by approximately 15 percent year-on-year. Wizz Air is one of the major airlines serving Slovak airports and has expanded its presence in Central and Eastern Europe in recent years.

SME
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Economy

Slovak Boat Rental Startup Boataround Achieves First Profit, Rejects Czech Billionaire Offer

Boataround.com, a Slovak startup that operates as a boat rental platform similar to Booking.com for yachts, has achieved its first operational profit in early 2024 after eight years of operation. The company, founded in 2016 by Pavel Pribiš and Jana Escher, has experienced success in the German market and recently rejected an acquisition offer from Czech billionaires. The startup operates in the leisure travel sector, connecting boat owners with customers seeking yacht rentals for vacations. The achievement of profitability marks a significant milestone for the Bratislava-based company, which has grown from a small startup to a platform with international reach. The rejection of the Czech investment offer suggests the founders remain confident in their business model and growth prospects, preferring to maintain independent control of their operations.

Dennik N
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Economy

Gold Records Second Consecutive Weekly Loss Despite Friday Recovery

Gold prices experienced their second consecutive weekly decline, though the precious metal showed signs of recovery toward the end of the trading week. The weekly losses come amid broader market conditions affecting commodity prices, with gold attempting to regain ground during Friday's trading session.

SME
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Economy

Gold Prices Rise on Friday but Post Weekly Decline

Gold prices recovered on Friday, with August contracts on the New York Commodity Exchange (Comex) climbing $24.80 or 3.03% to $4,238.80 per ounce. Despite the Friday gains, gold posted an overall decline for the week. The precious metal remains volatile as investors weigh various economic factors affecting commodity markets.

TASR/Teraz
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Economy

Central Bank Warns Business Mortgages Carry Higher Risk Than Standard Home Loans

Slovakia's central bank has identified mortgages provided to business owners and self-employed individuals as carrying significantly higher risk than standard residential loans. The National Bank of Slovakia (NBS), which serves as the country's central bank and financial regulator, cited the inherently unstable nature of entrepreneurial income as the primary concern. Self-employed borrowers and small business owners present greater lending risks because their earnings tend to fluctuate more than salaried employees and proving consistent income can be more challenging for financial institutions to verify. The warning reflects ongoing concerns about lending standards in Slovakia's mortgage market, where banks must balance supporting entrepreneurship with maintaining prudent risk management practices.

TASR/Teraz
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