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

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Economy

Consortium of firms seeks to complete Prešov hospital construction after excluding one member

A consortium of construction companies has announced its intention to complete the stalled hospital project in Prešov, located in eastern Slovakia, after removing one of its member firms. The consortium is now requesting technical assessments and access to the construction site to proceed with the work. The hospital project in Prešov, one of Slovakia's major regional centers, has faced significant delays, leaving the facility incomplete and adding to challenges in healthcare infrastructure in the eastern region of the country.

Korzár
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Economy

Japanese Companies Eye Automotive Investment Opportunities in Košice

Japanese companies are targeting potential investments in automotive manufacturing facilities in Košice, Slovakia's second-largest city and a major industrial hub in the eastern part of the country. The developments could lead to significant capital investments in the region's automotive sector. Košice already serves as an important manufacturing center for Slovakia, which has become known as the "Detroit of Europe" due to its concentration of automotive plants from major international manufacturers including Volkswagen, Kia, Jaguar Land Rover, and Stellantis.

Korzár
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Economy

Businessman Kamarás: Nippon Steel could make Košice steelworks its European flagship

A prominent businessman has described Nippon Steel's potential involvement with the Košice steelworks as one of the best pieces of news for the eastern Slovak city. According to Kamarás, the Japanese steel giant could transform the facility into its flagship European operation. The Košice steelworks is one of Slovakia's largest industrial facilities and a major employer in the region. Nippon Steel is one of the world's largest steel producers, and establishing a flagship European presence in Košice would represent a significant investment in Slovak industry and could secure thousands of jobs in the country's second-largest city.

Korzár
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Economy

US Stocks Fall at Market Opening

American stock markets declined at the opening of trading, with the broader S&P 500 index dropping 1.2% to 7,411.32 points. The technology-heavy Nasdaq index experienced a steeper decline, falling 1.8% to 26,161.60 points.

TASR/Teraz
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Economy

Slovak Consumers Award COOP Jednota Private Label Products in Consumer Choice Program

COOP Jednota, a major Slovak retail cooperative, has received recognition for its private label products in the Consumer Choice 2026 program. The awards confirm that the retailer's own-brand products remain a popular choice among Slovak consumers. COOP Jednota operates as one of Slovakia's largest retail cooperatives, with hundreds of stores across the country serving local communities with groceries and household goods.

Aktuality
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Economy

Slovakia Extends Application Deadline for Second Tender on D1 Highway Turany-Hubová Section

Slovakia's highway authority has announced another extension of the deadline for companies to apply for participation in the second tender for the D1 highway section between Turany and Hubová. The National Highway Company, which manages Slovakia's highway construction projects, provided notice of the additional time extension for potential bidders. This represents the latest delay in the procurement process for this section of the D1, Slovakia's main east-west highway corridor that connects Bratislava with eastern regions of the country. The Turany-Hubová section is part of ongoing efforts to complete missing segments of the D1 highway network.

SME
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Economy

Slovakia's State Pension System Will Cover Only Half of Workers' Salaries, Expert Warns

Slovakia's state pension system will provide retirees with only half of their former salaries, according to projections from the Social Insurance Agency, prompting calls for workers to build alternative savings. Michal Mešťan, a pension expert and dean of the Economics Faculty at Matej Bel University in Banská Bystrica, described the Social Insurance Agency's pension forecasts as "step A" in retirement planning. He emphasized that "step B," which the agency does not address, requires individuals to conduct their own "homework" by examining their income and expenses to create alternative savings as early and intensively as possible. Slovakia operates a pay-as-you-go pension system where current workers' contributions fund current retirees' benefits. The warning highlights growing concerns about the sustainability of Slovakia's aging population and the adequacy of state-provided retirement benefits for maintaining living standards in old age.

Aktuality
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Economy

Slovakia Amends Public Procurement Rules to Speed Up EU Funds Absorption

Slovakia has amended its public procurement laws to accelerate the absorption of European Union funds and streamline oversight procedures. The changes move preliminary controls by the Public Procurement Office to just before contract signing, rather than earlier in the process. The reforms also eliminate blanket controls that previously applied to all above-threshold procurement contracts and concessions. The amendments are designed to reduce bureaucratic delays that have hindered Slovakia's ability to draw down EU funding efficiently while maintaining necessary oversight of major government contracts.

Aktuality
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Economy

Slovakia May Buy Russian Oil Directly Through State Company, PM Fico Suggests

Slovak Prime Minister Robert Fico indicated that Slovakia may change how it purchases Russian oil for the Slovnaft refinery, potentially shifting from the current arrangement with Hungarian company MOL to using the Slovak state-owned pipeline operator Transpetrol. The suggestion represents a potential shift in Slovakia's energy procurement strategy, as the country continues to rely on Russian oil imports despite broader European efforts to reduce energy dependence on Russia. MOL, the Hungarian oil and gas company, currently owns Slovnaft, Slovakia's main refinery, and has been managing oil purchases for the facility. Transpetrol operates Slovakia's oil pipeline infrastructure and is majority-owned by the Slovak state.

Aktuality
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Economy

Eastern Slovak municipalities sold water company shares at one-third nominal value, audit finds

Municipalities in eastern Slovakia sold their shares in water companies for only one-third of their nominal value, according to an audit by the Supreme Audit Office (NKÚ), Slovakia's financial oversight body. The audit found that the municipalities indirectly lost real influence in the water companies through these transactions. The Supreme Audit Office regularly examines public sector financial management and reports on potential misuse of public resources or disadvantageous deals involving state and municipal assets.

Korzár
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Economy

Wizz Air to Launch Direct Flights from Bratislava to Tel Aviv Starting May 28

Hungarian low-cost carrier Wizz Air will begin regular direct flights between Bratislava and Tel Aviv starting May 28, 2024. The airline will operate the route using an Airbus A321neo aircraft with a capacity of 239 passengers. The new service will provide the first direct air connection between Slovakia's capital and Israel's commercial hub, expanding travel options for passengers in the region.

TASR/Teraz
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Economy

Cupra Raval Electric City Car Goes on Sale with Competitive Base Price

Spanish automotive brand Cupra has launched sales of its new Raval electric city car, with the company initially prioritizing its most expensive variants for delivery. The compact electric vehicle is designed for urban use and carries what the manufacturer describes as an attractive base price point, though specific pricing details were not disclosed. The Raval represents Cupra's entry into the growing market for small electric vehicles tailored for city driving.

SME
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Economy

Slovakia Fines Medical Laboratories €14.5 Million for Price-Fixing Cartel

Slovakia's Antimonopoly Office imposed fines totaling €14.5 million on four major medical laboratories for operating an illegal price-fixing cartel. The penalties followed a three-year investigation that began after Adam Marek, an analyst at the Value for Money Unit within the Finance Ministry, uncovered evidence of coordinated pricing practices among the laboratories. Marek, who specializes in healthcare analysis, discovered that the laboratories maintained artificially high profit margins through their cartel arrangement. The Value for Money Unit is a government body that analyzes public spending efficiency and identifies potential irregularities in various sectors, including healthcare. The Antimonopoly Office, Slovakia's competition authority, has the power to investigate and penalize companies that engage in anti-competitive practices such as price-fixing or market manipulation. The case highlights broader concerns about cartel behavior in Slovakia's healthcare sector, where coordination among service providers can drive up costs for both patients and the public health insurance system. The substantial fines represent one of the larger competition enforcement actions in the country's medical services industry.

Dennik N
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Economy

Tesla Dealer Says Even Combustion Engine Loyalists Reconsidering Due to Fuel Costs

A Slovak Tesla dealer reports that even devoted supporters of traditional combustion engines are beginning to calculate their fuel expenses as electric vehicle adoption grows. Jaroslav Kapšo, who founded DriveTesla.sk and has been importing and selling Tesla electric vehicles for ten years, says people who claim they won't buy Tesla cars due to Elon Musk are often those who couldn't afford them anyway. While cheaper Chinese competitors are catching up to Tesla in sales volume, Kapšo argues they still lag behind in technology and software capabilities. He also notes that European competitors have not yet reached Tesla's level of technological advancement, suggesting the American electric vehicle manufacturer maintains significant advantages in the Slovak market despite growing competition from both Asian and European automakers.

Dennik N
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Economy

Media Explores Cryptocurrency Trading Operations and Volatility

Slovak media outlet Aktuality published an analysis examining how cryptocurrency trading functions, highlighting the high-risk nature of digital asset speculation. The report describes cryptocurrency trading as an adrenaline-fueled activity that appeals to some investors but warns it is not suitable for everyone. Major cryptocurrencies like Bitcoin and Ethereum experience rapid value fluctuations, with prices rising and falling dramatically in short time periods, according to the analysis.

Aktuality
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Economy

Tax Authority Fines Business Owner for Missing Diacritics, But Confuses Terms in Ruling

A business owner from Kvetoslavov received a 1,500 euro fine from Slovakia's Financial Administration for missing diacritical marks on receipts. The tax authority cited the absence of proper Slovak language diacritics - accent marks that change pronunciation and meaning - on receipts issued by the langos vendor. However, the Financial Administration made a terminological error in its ruling, incorrectly referring to the missing diacritics as "punctuation" rather than using the proper linguistic term. This mistake in the official justification could potentially help the vendor challenge the fine in court, as the confusion between diacritics and punctuation demonstrates a fundamental misunderstanding of the violation being cited.

Aktuality
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Economy

Slovak Government Divides Growth Measures into Three Packages, Rules Out Transaction Tax Repeal in First Round

Finance Minister Denisa Saková has divided the government's pro-growth economic measures into three separate packages, with the first set to be discussed by the cabinet next week. The initial package will have no impact on the state budget and will not include the repeal of the transaction tax, which had been under consideration as part of broader economic stimulus efforts. The division of measures into multiple packages suggests a phased approach to implementing economic reforms, with the government prioritizing measures that do not require immediate budgetary adjustments. Slovakia has been exploring various economic stimulus options as the country seeks to boost economic growth amid broader European economic challenges.

SME
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Economy

Slovak Authorities Investigate Irregularities in EU Funds for Rural Tourism Projects

Slovak authorities are examining potential misuse of European Union funds allocated for rural tourism projects, including facilities described as "haciendas." The investigation has drawn comparisons to street food vendors, with critics suggesting that even a simple food stand operator could have faced less scrutiny if they had built a ranch with EU funding. Local oversight bodies report finding no irregularities in their initial review, but authorities are awaiting findings from the European Public Prosecutor's Office, which handles cases involving EU financial fraud. The case highlights ongoing concerns about the proper use of European development funds in Slovakia's rural tourism sector.

Dennik N
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Economy

Global Oil Reserves Depleting at Record Pace, Further Fuel Price Increases Expected

Global oil reserves are declining at an unprecedented rate, according to the International Energy Agency, which describes the current situation as the largest oil supply crisis in history. The world is adapting to the shortage through reduced consumption, releasing strategic reserves, and increasing oil production outside the Middle East. The dramatic shift in global oil markets represents a complete reversal from earlier IEA predictions that the world would be "swimming in oil," with the agency now warning that price shocks could become even more severe as supplies continue to tighten at record speeds.

Dennik N
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Economy

Eastern Slovak Entrepreneurs Report Absurd Official Inspections Following Fried Bread Controversy

Business owners in eastern Slovakia are coming forward with accounts of unreasonable official inspections following a controversial case involving fried bread known as langoš. The controversy, which involves the use of a Slovak soft sign (mäkčeň) in the name, has prompted entrepreneurs to share their experiences with what they describe as absurd regulatory controls in the eastern regions of the country. The case has opened broader discussions about inspection practices and regulatory enforcement affecting small businesses in Slovakia's eastern territories.

Bratislavak
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