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

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Economy

Slovakia's Electronic Invoice System Gains Momentum with 36 Certified Digital Mail Providers

Slovakia's electronic invoicing system is expanding rapidly, with the Financial Administration now registering 36 certified digital mail providers and an additional 16 organizations currently undergoing the accreditation process. The Financial Administration, Slovakia's tax authority, oversees the certification of companies that can deliver electronic invoices between businesses. According to Stanislav Pavlovič, general director of the Financial Administration's IT section, Slovakia compares favorably with several other countries in its electronic invoicing implementation. Business owners are advised to carefully select their digital mail provider, with experts recommending they verify whether the service guarantees system availability during technical outages. Free services are also available for businesses that only need to receive invoices rather than send them.

Dennik N
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Economy

European Central Bank Raises Interest Rates for First Time in Three Years

The European Central Bank raised interest rates for the first time in nearly three years, marking a significant shift in monetary policy across the eurozone. The central bank's decision comes as a response to ongoing geopolitical tensions involving Iran and reflects growing concerns about economic stability in the region. The ECB now expects higher inflation rates throughout the eurozone while simultaneously forecasting weaker economic growth. This policy reversal signals the end of the ultra-low interest rate environment that has characterized European monetary policy since the COVID-19 pandemic began, as central bankers attempt to balance inflationary pressures against the risk of stifling economic recovery.

Aktuality
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Economy

Europe's largest robotic paint shop under construction in Poprad, Slovakia

Slovakia is building what will become the European Union's largest robotic paint facility in the eastern city of Poprad, with operations scheduled to begin later this year. Prime Minister Robert Fico described the project as representing the future of industrial development. The facility represents a significant investment in automated manufacturing technology in Slovakia's industrial sector.

Korzár
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Economy

Slovakia to Launch Automatic System to Track Uninsured Vehicles

Slovakia will begin automatically cross-referencing government databases starting in August to identify motorists driving without mandatory insurance coverage. The new system will pair vehicle registration data with insurance records to track down uninsured drivers and pressure them to obtain required coverage. The change is expected to help insurance companies reduce losses from mandatory motor third-party liability insurance by increasing premium collection. Mandatory motor third-party liability insurance protects drivers and other road users from damages caused by accidents, and Slovak law requires all vehicle owners to maintain this coverage.

Dennik N
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Economy

Slovakia's Prime Minister Visits Railway Manufacturer to Promote Automation as Solution to Labor Shortage

Slovak Prime Minister visited the Tatravagónka railway manufacturer in Poprad, where he declared that automation and robotization represent key solutions to the country's acute labor shortage. The company is preparing to launch what will be the largest robotic painting line for freight railway cars in the European Union. The visit highlights the government's push for technological solutions to address workforce challenges affecting Slovak industry.

SMETASR/Teraz
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Economy

Eastern Slovak Steel Company BP Steel Faces Bankruptcy Despite Million-Euro Revenues

BP Steel, a steel company based in eastern Slovakia, is on the verge of bankruptcy despite generating revenues in the millions of euros. The company is struggling with mounting debts that have pushed it to the brink of insolvency. The financial difficulties highlight challenges facing Slovakia's industrial sector, particularly in the steel industry where companies must navigate volatile commodity prices and competitive pressures while managing operational costs and debt obligations.

SME
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Economy

Frasers Group offers nearly two billion euros for German fashion brand Hugo Boss

British retail giant Frasers Group has made a takeover bid worth nearly two billion euros for German fashion company Hugo Boss. The offer prompted a surge in Hugo Boss shares, which rose approximately seven percent following the announcement. The potential acquisition would represent a significant move by Frasers Group, which owns Sports Direct and other retail chains, to expand its presence in the luxury fashion market through the acquisition of the well-established German brand known for its premium menswear and corporate apparel.

SME
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Economy

Wizz Air to Launch New Flight Route Between Slovakia's High Tatras and Prague

Budget airline Wizz Air announced a new flight route connecting Poprad, Slovakia with Prague, Czech Republic, scheduled to begin operations on October 25, 2024. The service will operate three times per week, linking Slovakia's High Tatras region with the Czech capital. Poprad serves as the main airport for Slovakia's popular High Tatras mountain region, a major tourist destination known for skiing and hiking. The new route will provide an additional travel option between the two neighboring countries, with Wizz Air promising competitive low-cost fares for the connection.

SMEKorzár
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Economy

Team Behind Slovakia's New National Stadium Led by Construction Executive Who Previously Violated Public Procurement Laws

The consortium selected to build Slovakia's new national stadium is headed by a construction executive who previously violated public procurement laws during the construction of a Bratislava hospital. Only Radoslav Novák signed the contract on behalf of Team Slovakia, the consortium that won the tender for the stadium project. Novák's company was previously found to have breached procurement regulations during hospital construction in the capital, though details of the current consortium's other members and the specific nature of the previous violations remain undisclosed. The selection of this consortium raises questions about due diligence in the procurement process for what is expected to be one of Slovakia's most expensive public construction projects.

SME
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Economy

International Business Conference SHIFTS Launches in Bratislava

A major international business conference called SHIFTS is expanding to Slovakia's capital Bratislava after successful editions in Prague. The conference brings together prominent figures from global business, investment, politics, and social discourse to central Europe. Among the featured speakers is Nassim Nicholas Taleb, the renowned author of "The Black Swan," a influential work on risk and uncertainty in financial markets and economics.

Aktuality
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Economy

Polish Construction Manager Says Tunnel Delays on D1 Highway Not Due to Geological Challenges

A senior manager from Polish construction company Budimex has disputed claims that geological difficulties caused decades-long delays in completing the Višňové tunnel on Slovakia's D1 highway. Pavel Zuzula, regional director of Budimex, said the tunnel location "has no specifically unusual geological conditions" and that while groundwater was present, the area was mostly solid rock mass. Budimex is currently completing the expansion and D1/D4 highway interchange near Bratislava. The D1 is Slovakia's main east-west highway corridor, and the Višňové tunnel has been a long-delayed section that drivers have waited nearly 25 years to see completed. Zuzula also suggested that using tunnel boring machines rather than explosives would be more environmentally sensitive for the Korbeľka section of the highway construction.

Dennik N
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Economy

Lidl Slovakia Emphasizes Local Produce to Meet Growing Consumer Demand for Fresh Products

Slovak consumers are increasingly choosing locally-sourced products, with supermarket chain Lidl responding by prioritizing fresh domestic produce including cucumbers, strawberries, and tomatoes. The retailer has identified freshness and taste as key factors driving customer preference for local products over imported alternatives. Lidl has made supporting Slovak farmers and growers a business priority as consumer demand for locally-sourced food continues to grow across the country.

Aktuality
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Economy

Economist Fears Slovakia's Transaction Tax Will Not Be Abolished Despite Government Promises

A prominent Slovak economist has expressed doubts that the government will follow through on abolishing the controversial transaction tax, despite political promises to do so. The economist warned that any potential reductions in taxes and social contributions by the current administration would likely be merely symbolic rather than substantial reforms. The transaction tax, which has been criticized by business groups and opposition parties since its introduction, remains a contentious issue in Slovak fiscal policy debates.

SME
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Economy

Family Dairy Business Revitalizes Milk Production in Central Slovakia's Podpoľanie Region

Siblings from a traditional farming family have established a dairy facility in the village of Hriňová that has become crucial for preserving milk production in the Podpoľanie region of central Slovakia. The family business, built on what they describe as stubborn determination and respect for the land, has modernized operations with new technology that extends their market reach beyond traditional boundaries. The dairy represents a successful example of rural entrepreneurship helping sustain agricultural traditions in Slovakia's mountainous regions, where small-scale farming operations often struggle to remain viable.

Aktuality
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Economy

Czech retailer Alza opens luxury beauty shop in Bratislava

Czech electronics retailer Alza has expanded into the premium beauty market by opening a new luxury AlzaBeauty shop at its Bratislava-Nivy showroom. The new store offers premium cosmetic brands, beauty technologies, and personal consultation services, marking the company's broader diversification beyond its traditional electronics retail focus in the Slovak capital.

Aktuality
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Economy

Slovak Industrial Output Declines Amid Middle East Tensions Affecting Energy Prices

Slovakia's industrial sector is experiencing a downturn as geopolitical tensions in the Middle East escalate, impacting energy costs and economic stability. The situation worsened following the destruction of an American Apache helicopter, which triggered new strikes on Iran and prompted Iran to completely close the Strait of Hormuz in retaliation. The escalation stems from failed peace negotiations in the region and developments in the United States, where rising energy prices are creating additional economic pressures. Despite these challenges, economic analysts suggest that solutions exist for Slovakia's industrial decline, pointing to Denmark as a potential model for economic resilience during periods of international instability.

Dennik N
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Economy

Slovakia's Central Bank to Restrict Mortgages for Investment Properties as Empty Apartments Surge

Slovakia's National Bank (NBS), the country's central bank, plans to restrict mortgage lending for investment properties following data showing tens of thousands of apartments with extremely low electricity consumption, indicating they remain uninhabited. In the eastern city of Košice, over 15 percent of apartments show these consumption patterns, while in the capital Bratislava the figure reaches nearly 11 percent. The central bank's move aims to curb speculative property purchases that leave residential units empty while housing prices continue to rise. The restriction on mortgage lending for such properties could significantly impact Slovakia's real estate market, where investors have been purchasing apartments purely for profit rather than residential use.

Aktuality
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Economy

Slovak Company Abandons Million-Euro Grant After Media Scrutiny Over Disaster Prediction Project

A Slovak company called Forecast AI withdrew its application for a million-euro government grant after journalists began investigating the funding request. The company had sought the money to develop technology for predicting disasters and managing pharmacy inventory systems. The grant was to be awarded through MIRRI, Slovakia's innovation support agency, which has previously been scrutinized for questionable funding decisions. The company's decision to abandon the application came immediately after media outlets started asking questions about the project, raising concerns about the transparency and merit of the proposed funding.

SME
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Economy

Slovakia becomes sole country with dedicated pavilion at Warsaw Food Expo

Slovakia has secured its own dedicated pavilion at the Warsaw Food Expo, making it the only country with such representation at the trade fair. The expo ranks among Poland's most significant food industry events, attracting substantial international participation. Last year, the fair hosted 402 exhibitors from 46 countries and drew 16,100 professional visitors, highlighting its importance as a regional platform for food sector networking and business development.

TASR/Teraz
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Economy

Central Bank Confirms Operation in Bystrina, Keeps Details Confidential

Slovakia's National Bank confirmed it conducted an operation in Bystrina but declined to provide specific details about the action. The central bank's reserved capacity arrangements also drew attention during the incident. The National Bank of Slovakia, which serves as the country's central banking authority and financial sector regulator, has not disclosed the nature or scope of the operation that took place in the eastern Slovak location.

Korzár
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