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Last refreshed: 06/06/2026 15:39 · 51 articles added
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Economy

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Economy

Slovak Commentary Highlights Bureaucratic Vulnerability in Travel Expense Claims

A Slovak economic commentary used the example of travel expense documentation to illustrate how bureaucratic processes can be weaponized against employees when authorities want to find fault. The analysis noted that ordinary workers struggle to navigate complex laws and regulations when filling out travel orders, typically relying on guidance from accounting departments to claim meal allowances, accommodation, and other expense reimbursements. The commentary suggested that when officials want to target someone, they deliberately search for errors in paperwork to bring charges against employees, highlighting the vulnerability of workers to selective enforcement of bureaucratic rules.

Dennik N
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Economy

Japanese Steel Giant Pledges to Modernize Slovak Plant as Major Proxy Company Faces Bankruptcy

Nippon Steel announced it will transform its newly acquired steelworks in Košice into the center of its European operations, marking the best news for Slovak business in four years. The Japanese company committed to decarbonizing the facility to help it meet increasingly strict European Union environmental standards, ensuring the plant's survival in the changing regulatory landscape. Meanwhile, Proxenta, a major Slovak company, is now facing potential bankruptcy proceedings, with even its own management acknowledging the possibility of insolvency. The developments highlight the contrasting fortunes within Slovakia's industrial sector, as foreign investment provides stability for some operations while domestic companies struggle with financial difficulties.

Dennik N
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Economy

Austrian energy company OMV begins gas extraction from field near Vienna

Austrian energy giant OMV has started extracting natural gas from a newly developed field located near Vienna. The company plans to begin deliveries from the gas field during the upcoming winter season. The development comes as European energy companies seek to diversify supply sources following disruptions to Russian gas imports since the war in Ukraine began in 2022.

SME
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Economy

Slovak Economist Warns of New Price Increases on Horizon

A Slovak economic analyst has warned that consumers should prepare for another wave of price increases, advising people to start saving money now. The economist identified specific sectors that are likely to see price hikes while also noting which goods and services are expected to remain stable in the near term. The warning comes amid ongoing concerns about inflation and cost of living pressures affecting Slovak households.

Aktuality
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Economy

Slovak Construction Industry Shows Growth in First Quarter

The Slovak construction sector recorded performance growth in the first quarter of 2024, according to the president of the Union of Construction Industry. The industry leader described the quarterly growth as an important positive signal for the sector. He expressed confidence that this upward trend can be sustained throughout the remainder of the year, indicating optimism about the construction industry's recovery prospects.

SME
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Economy

Penta Real Estate Introduces Cooperative Housing Model to Slovakia Following Czech Success

Penta Real Estate has announced plans to develop cooperative housing in Slovakia, following similar initiatives by developer YIT. The company will dedicate one residential complex within its Bory project in Bratislava to cooperative apartments, targeting buyers who cannot obtain or prefer to avoid traditional mortgages. While cooperative housing has experienced a renaissance in the Czech Republic and is viewed as a standard alternative to private ownership, Slovakia has been slower to adopt this housing model. Cooperative housing allows residents to become members of a housing cooperative rather than individual property owners, typically requiring lower upfront costs than traditional purchases and offering an alternative financing structure for those excluded from conventional mortgage markets.

Dennik N
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Economy

Bond Sell-Off Pushes Yields to Multi-Year Highs Amid Inflation Fears

Global investors launched a massive sell-off of government bonds on Friday, driving yields to multi-year highs amid growing concerns about rising inflation. The market turbulence reflects investor fears that governments will subsidize expensive fuel costs for households, potentially leading to increased budget deficits. Adding to uncertainty, a meeting between Donald Trump and Chinese President Xi Jinping failed to produce solutions to ongoing conflicts with Iran. The bond market rout suggests investors are worried that higher inflation will force central banks to maintain elevated interest rates for longer periods, making government debt less attractive and more expensive to service.

Dennik N
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Economy

IKEA Parent Company Plans to Cut 850 Jobs Globally

The parent company of Swedish furniture retailer IKEA announced plans to eliminate 850 jobs as part of a restructuring effort. Approximately 300 of the planned layoffs will occur in Sweden, the company's home country, while the remaining positions will be cut across other international operations. The job cuts represent part of broader organizational changes at the global furniture giant.

SME
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Economy

Construction Company Bekor Rejects Exclusion from Prešov Hospital Project

Bekor, a construction company involved in the Prešov hospital building project, has refused to accept its exclusion from the development. The company maintains that any identified issues are not fundamental problems that would justify its removal. Bekor stated it remains prepared to participate in all negotiations and steps that would contribute to continuing the project. The hospital construction project in Prešov, a major city in eastern Slovakia, represents a significant infrastructure development for the region's healthcare system.

AktualityKorzár
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Economy

Slovak Tax Chief Apologizes for Excessive Fine Over Missing Diacritic on Receipt

The head of Slovakia's Financial Administration apologized today under public pressure for imposing an excessive fine on a business over a missing diacritic mark on a cash register receipt. The case highlighted what experts describe as absurd enforcement practices where a single missing accent mark on a receipt can trigger punitive financial penalties that could bankrupt small businesses. The Financial Administration, which oversees tax collection and electronic cash register compliance, has faced mounting criticism for what experts characterize as excessive formalism and bureaucratic overreach. Despite the apology, the underlying legislation enabling such penalties remains unchanged, leaving small entrepreneurs vulnerable to similar enforcement actions. Tax experts interviewed about the case openly questioned where common sense ends in regulatory enforcement and whether small business owners have any realistic chance of success when battling Slovakia's bureaucratic apparatus.

Aktuality
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Economy

Central Bank Approves Second Green Bond Issue by Eastern Slovakia Water Company

Slovakia's central bank has approved the prospectus for the second series of secured green bonds issued by Východoslovenská vodárenská spoločnosť (VVS), the water utility serving eastern Slovakia. The National Bank of Slovakia's approval follows the success of the company's first bond series and opens investment opportunities to municipalities, the general public, and investors interested in financing ecological water infrastructure projects. The bond issue, branded as "VODA SPIEVA II" (Water Sings II), allows participants to support environmental water management projects while earning returns on their investment. VVS is a major water utility company that provides water services to cities and municipalities across eastern Slovakia. Green bonds are financial instruments specifically designed to fund environmentally beneficial projects, and this approval represents the expansion of sustainable finance options in Slovakia's regional infrastructure sector.

Košice Dnes
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Economy

Slovakia borrows 569 million euros in May government bond auction

Slovakia raised 569 million euros through a government bond auction in May, with the largest portion coming from bonds maturing in 2037. The state secured 225 million euros from these longer-term bonds, which represented the highest volume among the various bond offerings. Government bond auctions are a key financing tool for Slovakia to fund public expenditures and manage national debt, with different maturity periods offered to attract various types of institutional investors.

TASR/Teraz
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Economy

Gold Trading Company Loses Headquarters in Auction as Tax Authorities Pursue Second Firm

A Slovak gold trading company called Zlatá huta has lost its headquarters building in a court-ordered auction, marking the latest development in what appears to be a significant business collapse. Tax authorities are now pursuing the company over unpaid obligations. Meanwhile, a second firm has quietly taken over the million-euro gold trading business previously operated by Zlatá huta. The case highlights ongoing issues with tax compliance in Slovakia's precious metals trading sector, where companies handle substantial volumes of gold transactions that can generate significant tax liabilities for the state.

SME
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Economy

Slovaks Losing Interest in Cheapest Imported Used Cars

Slovak consumers are shifting away from the cheapest imported used vehicles, according to new market analysis. In April, 5,402 used cars were imported to Slovakia, with the highest demand concentrated in the 20,000 to 30,000 euro price range rather than lower-cost options. The trend suggests Slovak buyers are increasingly willing to spend more on higher-quality used vehicles, moving away from the rock-bottom segment that previously dominated the import market. This shift reflects changing consumer preferences and potentially improved purchasing power among Slovak car buyers.

TASR/Teraz
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Economy

Slovak Tax Authority Admits Error in Lángos Stand Investigation, Will Halt Proceedings

Slovakia's Financial Administration has acknowledged procedural errors in its tax investigation of a lángos stand operator in Kvetoslavov and announced it will halt the proceedings. Eduard Kiss, head of the Financial Administration, apologized for the mistakes discovered during an internal review and confirmed the authority will uphold the business owner's appeal. The Financial Administration is Slovakia's central tax collection agency responsible for ensuring tax compliance across the country. The case involving the traditional fried bread vendor had drawn public attention, though the specific nature of the original tax dispute was not detailed in the announcement.

SMETASR/TerazBratislavak
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Economy

Etabletka Online Pharmacy Wins Slovakia's Top E-commerce Award for Fourth Consecutive Year

Etabletka.sk, Slovakia's leading online pharmacy, has successfully defended its title in the prestigious ShopRoku competition for the fourth consecutive year. The company won the Quality Price: Health category, reinforcing its position as the market leader in customer satisfaction and innovation within Slovakia's e-commerce sector. The ShopRoku competition is a major annual contest that recognizes excellence in online retail across various categories in Slovakia.

Aktuality
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Economy

Tax Authority Chief Apologizes to Business Owner in High-Profile 'Langosh Case'

The head of Slovakia's tax administration has publicly apologized to a business owner and requested a meeting following errors made by tax inspectors in the widely-watched "langosh case." The apology represents a significant reversal in the controversial tax dispute that has drawn public attention. Tax controllers were found to have made mistakes in their handling of the case involving the traditional Slovak fried bread vendor, prompting the unprecedented public acknowledgment from the tax authority's leadership.

Aktuality
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Economy

Gold Price Recovers After Falling to 1.5-Month Low

Gold prices have recovered after dropping to their lowest level in six weeks. The precious metal had experienced a significant decline before beginning to rebound from the 1.5-month minimum. Meanwhile, silver prices moved in the opposite direction, falling by 0.5 percent as precious metals markets showed mixed performance.

SME
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Economy

Investment Apps Challenge 'Rich Only' Myth in Slovakia

A growing trend in Slovakia shows investment applications are making financial markets accessible to ordinary citizens, challenging the traditional belief that investing is only for wealthy individuals. These mobile platforms allow users to invest small amounts through smartphone apps, similar to how people currently use applications for food delivery, streaming, or photo editing. The development represents a shift toward democratizing investment opportunities for Slovak consumers who previously may have viewed stock markets and investment products as beyond their reach.

Aktuality
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