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Last refreshed: 28/07/2026 17:43 · 79 articles added
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Economy

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Economy

Chip Company Market Value Plunges by $1.3 Trillion as AI Stocks Crash

Global semiconductor companies lost $1.3 trillion in market value as their stock prices plummeted in a broad selloff. The decline hit major technology firms heavily involved in artificial intelligence development, wiping out significant portions of their market capitalization. The sharp downturn affected leading chip manufacturers and AI-focused companies across international markets, representing one of the largest single-day losses in the technology sector's recent history.

SME
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Economy

Sustainable Energy Association Recommends Wind Farms to Boost Slovakia's Competitiveness

Slovakia's Sustainable Energy Association has recommended the development of wind farms as a tool to enhance the country's economic competitiveness. The association specifically highlighted the benefits for industry and data centers, suggesting that expanded wind power capacity could provide competitive advantages for these energy-intensive sectors. The recommendation comes as Slovakia seeks to diversify its energy mix and attract investment in sectors requiring reliable, cost-effective power sources.

SME
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Economy

Charter flights to seaside resorts resume as holiday bookings surge in Slovakia

Charter flights to seaside holiday destinations have resumed operations from Slovakia, coinciding with a notable increase in vacation bookings among Slovak travelers. The surge in holiday demand has also led to increased activity among fraudulent travel operators, commonly known as "travel scammers," who exploit the heightened interest in vacation packages to target unsuspecting customers.

SME
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Economy

Slovak Energy Agency Seeks EU Funds to Support Green Household Program

Slovakia's Innovation and Energy Agency has requested that unused European Union funds be redirected to support the Green Households program, though the initial request was unsuccessful. The Green Households initiative, which provides vouchers to help Slovak families finance energy-efficient home improvements and renewable energy installations, suspended the issuance of new vouchers in mid-2024 after all available funding was reserved. The program has proven highly popular among Slovak households seeking to reduce energy costs and improve home efficiency, but demand has outstripped the allocated budget. The energy agency's push to secure additional EU funding reflects broader efforts across Slovakia to maximize the absorption of European development funds before they expire.

SMETASR/Teraz
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Economy

Major Slovak Bank Announces Weekend Service Outage

A prominent Slovak bank has announced a planned service outage scheduled for this weekend, affecting multiple banking services for customers. The temporary shutdown will restrict access to various digital and electronic banking functions during the maintenance period. Banks in Slovakia regularly conduct such technical maintenance to upgrade systems and ensure service reliability, though the outages can inconvenience customers who rely on weekend banking services for transactions and account management.

Bratislavak
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Economy

Interest Rates Expected to Rise as Mortgage Costs Continue Climbing in Slovakia

Interest rates in Slovakia are expected to continue rising, driving further increases in mortgage costs for homeowners and prospective buyers. The upward pressure on rates stems from persistent inflation linked to the ongoing conflict in the Middle East, which has affected global commodity prices and supply chains. Monetary policy makers may implement additional tightening measures later this year if inflationary pressures persist, potentially making home financing even more expensive for Slovak consumers.

TASR/Teraz
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Economy

Slovakia to simplify online returns for goods purchased on the internet

Slovakia is introducing measures to streamline the return process for goods purchased online. Under the new rules, customers who complete purchases through internet platforms will be able to withdraw from their contracts using the same digital channels. The change aims to make it easier for consumers to cancel online purchases by allowing them to use electronic processes rather than requiring traditional paper-based or in-person procedures. The reform addresses growing consumer demand for more convenient digital shopping experiences as online commerce continues to expand in Slovakia.

SME
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Economy

Global Steel Industry Faces Crisis as Overcapacity Reaches 640 Million Tons

The global steel industry is experiencing a severe crisis driven by massive overcapacity that reached 640 million tons in the previous year. This excess production capacity represents a significant challenge for steel producers worldwide, as supply far exceeds demand in the market. The overcapacity crisis affects steel pricing, profitability, and trade relations globally, potentially leading to increased competition, plant closures, and trade disputes between steel-producing nations as companies struggle to maintain market share in an oversupplied industry.

SME
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Economy

Slovak Government Accused of Reactive Economic Policy as Growth Measures Called Cosmetic

The Slovak government under Prime Minister Robert Fico has been criticized for implementing only superficial economic measures and abandoning meaningful solutions to boost growth. Critics argue that the administration operates in a reactive mode rather than pursuing strategic planning for economic development. The assessment suggests the ruling coalition has effectively given up on addressing the country's economic challenges through substantial policy reforms. Fico leads a coalition government that returned to power in 2023, promising to restore economic stability after previous administrations. However, Slovakia, like many European Union countries, faces ongoing economic pressures including inflation and slower growth, making effective economic policy crucial for maintaining living standards and competitiveness within the eurozone.

SME
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Economy

Bitcoin Falls Below $60,000 to Lowest Level Since October 2024

Bitcoin dropped below $60,000, reaching its lowest price since October 2024, as market sentiment deteriorated following news that MicroStrategy sold a portion of its bitcoin reserves. The cryptocurrency's decline reflects broader market concerns as one of the most prominent corporate bitcoin holders reduced its position, contributing to negative sentiment among investors.

SME
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Economy

Only Third of Emergency Stations from Recovery Plan Completed with Three Months Left

Slovakia has completed construction on only about one-third of the emergency medical stations planned under the country's EU recovery plan, with less than three months remaining to finish the project. The SME daily newspaper obtained documents showing the current status of the emergency station construction program. The recovery plan, funded through the EU's post-pandemic recovery fund, allocated resources to modernize Slovakia's emergency medical infrastructure by building new ambulance stations across the country. The slow progress raises questions about whether Slovakia will meet its EU commitments and complete the remaining two-thirds of planned stations before the deadline expires.

SME
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Economy

Airbus Delivers Over 80 Aircraft to Customers in May, Nearly 60% Increase

European aircraft manufacturer Airbus delivered 81 aircraft to customers in May, representing a nearly 60 percent increase compared to the previous period. The company officially confirmed the delivery figures, which had previously been reported by industry sources earlier in June. The substantial increase in deliveries reflects growing demand in the aviation sector as air travel continues to recover from pandemic-era disruptions.

TASR/Teraz
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Economy

Bratislava Restaurant Business Chain Seeks Bankruptcy Declaration

A restaurant business operating in Bratislava has filed for bankruptcy after its operations failed to achieve financial viability. The company was founded by a prominent entrepreneur from Slovakia's tourism industry, though specific details about the chain's scope and the reasons for its financial difficulties were not disclosed. The bankruptcy filing represents the latest challenge facing the hospitality sector in Slovakia's capital city.

SME
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Economy

Major Slovak Malt Exporter Reports 20% Revenue Drop Amid Rising Costs

A major Slovak malt exporter experienced a significant 20% decline in revenues as malt prices fell while operational costs increased. The company's profits were further squeezed by higher taxes and rising wage expenses, reflecting broader challenges facing Slovakia's agricultural processing sector. The combination of declining commodity prices and increasing labor costs has created a difficult operating environment for the business, which represents part of Slovakia's food and beverage export industry.

SME
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Economy

Slovakia's Tax Debt Amnesty Program Expires at End of June

Slovak citizens and businesses have just three weeks remaining to eliminate their tax debts to the state without penalties and interest charges under a government amnesty program ending June 30. The tax amnesty covers outstanding tax liabilities that were recorded by tax authorities as of September 30, 2025, but excludes debts arising from tax audits and enforcement proceedings. Under the government decree, taxpayers can request to have late payment interest waived as part of the debt relief program. The amnesty represents an opportunity for debtors to clear their obligations to the Slovak tax administration without the additional financial burden of accumulated penalties, providing a limited-time window for resolving outstanding tax issues before normal collection procedures resume.

Dennik N
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Economy

Slovak Businessman's Bitcoin Holdings Under Scrutiny Amid Ponzi Scheme Allegations

A Slovak businessman who famously advised people to "sell a kidney rather than bitcoin" is facing scrutiny over his company's billion-dollar cryptocurrency holdings. The entrepreneur's massive business operation is now being characterized as a Ponzi scheme, raising questions about the legitimacy of his bitcoin investment empire that he has promoted with extreme rhetoric about the cryptocurrency's value.

SME
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Economy

Prešov Transport Company to Purchase 13 New Buses for 5.7 Million Euros

The Prešov municipal transport company is modernizing its vehicle fleet with the purchase of 13 new buses worth 5.7 million euros. The buses will be supplied by SOR Libchavy, a Czech manufacturer. The investment represents a significant upgrade to public transportation in Prešov, Slovakia's third-largest city and the administrative center of the eastern Prešov region, as the company works to replace aging vehicles and improve service quality for residents.

Korzár
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Economy

Gold Prices Drop, Weekly Decline Expected

Gold prices fell on Friday morning, with spot gold reaching $4,463.73 (€3,834.82) per troy ounce by 11:00 AM Central European Time. The price represents a 0.2% decline from the previous trading session's close. The precious metal is heading toward a weekly decline as well.

TASR/Teraz
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Economy

Slovak Economy Stagnates as Industrial Sector Contracts and Business Investment Drops

Slovakia's economy failed to grow by even one percent as the industrial sector entered a sharp contraction and businesses drastically reduced investment spending. The economic stagnation reflects broader structural challenges facing the Central European nation, with companies pulling back on capital expenditure amid uncertain market conditions. Without sustained investment from the private sector, economists warn that any future economic growth will prove unsustainable, potentially undermining Slovakia's position as a manufacturing hub within the European Union.

SME
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Economy

Eurozone Economy Contracts 0.2% in First Quarter

The eurozone economy shrank by 0.2% in the first quarter of 2024 compared to the previous quarter, according to official data. Despite the quarterly decline, the eurozone economy still grew by 0.3% compared to the same period last year, while the broader European Union economy expanded by 0.7% year-on-year during the January-March period. The quarterly contraction reflects ongoing economic challenges facing the 20-nation currency bloc, even as annual comparisons show modest growth momentum remains intact.

TASR/Teraz
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