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Last refreshed: 07/06/2026 21:40 · 36 articles added
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Economy

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Economy

Volkswagen Group Reports 4% Global Sales Drop in First Quarter

Volkswagen Group delivered 4% fewer vehicles to customers worldwide in the first quarter compared to the same period last year. The German automaker faced particularly steep challenges in China, where sales plummeted 15% to 548,700 vehicles as Europe's largest car manufacturer struggled against declining demand and intensifying competition from domestic Chinese brands. The Chinese market decline highlights broader difficulties facing European automakers in what has traditionally been a crucial growth market for the industry.

SMETASR/Teraz
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Economy

Slovakia's Export-Import Bank Supported Nearly Two Billion Euros in Exports Last Year

Slovakia's Export-Import Bank (Eximbanka) supported exports worth nearly two billion euros in 2024, marking a 3.2 percent increase compared to the previous year. The state-owned institution's total asset engagement, encompassing both banking and insurance activities, reached 1.217 billion euros by the end of 2024. Eximbanka serves as Slovakia's official export credit agency, providing financing and insurance services to support Slovak companies' international trade activities and help them compete in global markets.

SMETASR/Teraz
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Economy

dm Drugstore Chain Launches Spring Beauty Campaign Highlighting Individual Uniqueness

Slovak drugstore chain dm has launched a spring beauty campaign that emphasizes individual uniqueness, responding to data from its own survey about beauty and health attitudes among Slovaks. The retail chain, which operates numerous locations across Slovakia, developed the campaign based on findings from research it conducted examining Slovak consumers' perspectives on beauty and wellness.

TASR/Teraz
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Economy

Railway tunnel construction in Spiš region encounters higher radiation levels than expected

Construction crews building a railway tunnel in Slovakia's Spiš region have discovered radiation levels higher than anticipated, according to Dušan Chovanec, chairman of TSS Grade, the country's largest railway construction contractor. The company is working on the Poprad-Vydrník railway line as part of Slovakia's infrastructure modernization efforts. Chovanec, whose firm operates in both Slovakia and the Czech Republic, disputed claims that Czech railway projects proceed faster than Slovak ones, arguing that any differences stem from permitting processes rather than construction speed. The Spiš region, located in northern Slovakia near the Tatra Mountains, is part of a broader railway upgrade connecting eastern Slovakia with major transport corridors.

Dennik N
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Economy

Slovakia to Require Card Payments for Purchases Above €1 Starting May 2026

Slovakia will mandate that businesses accept cashless payments for all transactions exceeding one euro, beginning May 1, 2026. The new regulation aims to modernize the country's payment system and reduce reliance on cash transactions. Financial experts note that customers typically spend more when not constrained by the amount of cash they carry, suggesting the policy could have broader economic implications beyond payment convenience.

Aktuality
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Economy

Slovakia's largest bookstore chain Panta Rhei celebrates 35 years in business

Panta Rhei, Slovakia's largest bookstore chain, is marking its 35th anniversary this year. The company was founded by László Bödők, who began selling books at weekend markets and fairs. Originally, Bödők intended to use book sales to raise capital for opening a pasta restaurant, but the book business eventually became his primary focus. The chain has grown from its humble market stall beginnings to operate 60 retail locations across Slovakia.

Aktuality
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Economy

New Belá Oasis Resort Near Košice Promises Hassle-Free Vacation Home Experience

A new recreational property development called Belá Oasis Resort has opened near Košice, marketing itself as a revolutionary approach to vacation home ownership. The resort promotes a concept where property owners can enjoy their recreational properties without the typical maintenance burdens, allowing them to focus on relaxation and family time instead of property upkeep. Located within easy reach of Slovakia's second-largest city, the development targets people seeking vacation homes without the associated responsibilities of traditional cottage ownership.

Korzár
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Economy

Prešov Housing Developer Claims She Lost Bratislava Apartment, Says She Was Used as 'White Horse'

A developer involved in a controversial housing construction project in Prešov has claimed she lost her own apartment in central Bratislava and alleges she was used as a 'white horse' - a term referring to someone who serves as a front for hidden interests. The case involves the Vodárska development project in Prešov, a city in eastern Slovakia that serves as the regional capital. The developer's allegations suggest she may have been a nominee used to conceal the real parties behind the housing project. The case is adding new dimensions to what appears to be an ongoing controversy surrounding the Vodárska street development, though the specific nature of the legal or financial disputes remains unclear.

Korzár
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Economy

Žilina's Lesopark Housing Project Added to State-Supported Rental Program

A housing development called Lesopark in Žilina has been included among projects participating in Slovakia's state-supported rental housing program. The head of the responsible agency reported strong interest from both private and public sector entities in joining the government-backed rental housing system. The program represents Slovakia's effort to address housing affordability by providing state support for rental apartment projects, allowing developers and municipalities to offer more accessible housing options to residents.

TASR/Teraz
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Economy

Slovak Government Plans New Nuclear Power Plant Without Public Tender, Following Bulgarian Model

The Slovak government is moving forward with plans to build a new nuclear power plant without conducting a public tender process, following a model similar to Bulgaria's approach to nuclear projects. The decision represents a significant departure from standard procurement practices for major infrastructure projects. Slovakia's current nuclear capacity relies heavily on Soviet-era reactors, making new nuclear capacity a strategic priority for the country's energy security and carbon reduction goals. However, the choice to bypass competitive bidding and emulate Bulgaria's controversial nuclear procurement methods has drawn criticism, as Bulgaria's own nuclear projects have faced delays, cost overruns, and transparency concerns.

SME
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Economy

UniCredit Denies Reports of Plans to Liquidate Russian Business Operations

Italian banking group UniCredit has denied reports suggesting the bank plans to liquidate its Russian business operations. The bank stated it is not changing its current strategy regarding its presence in Russia. UniCredit, one of Europe's largest banks, has maintained operations in Russia despite international sanctions imposed following the country's invasion of Ukraine in 2022, though many Western financial institutions have scaled back or exited their Russian operations entirely.

SME
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Economy

Oil Prices Fall Sharply Over Past Week

Both benchmark crude oil prices declined significantly during the past trading week, with West Texas Intermediate (WTI) falling more than 13 percent and Brent crude dropping over 12 percent. The steep declines affected both major oil price benchmarks used by global markets to track petroleum costs.

TASR/Teraz
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Economy

Survey Shows Slovaks Invest Primarily for Retirement Security, Not Just to Beat Inflation

A new survey reveals that 62 percent of Slovak investors are motivated primarily by securing retirement income rather than simply combating inflation. The findings suggest that Slovaks are taking a long-term approach to personal financial planning, prioritizing future financial security over short-term inflation protection. This investment behavior indicates growing awareness among Slovak citizens about the importance of building retirement savings independently of state pension systems.

TASR/Teraz
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Economy

European stocks strengthen amid energy price volatility

European stock markets gained ground last week, with major indices rising 2.74 percent as investors closely monitored developments in oil and gas prices. Despite the weekly gains, European markets have not yet recovered losses incurred during the recent Middle East conflict, which disrupted energy markets and broader investor sentiment across the continent.

SMETASR/Teraz
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Economy

Gold Prices Rise as Dollar Weakens Following Iran-US Ceasefire

Gold prices increased over the past week as the US dollar weakened in global markets. The price movement was influenced by a ceasefire agreement between Iran and the United States, which reduced geopolitical tensions and affected currency valuations. The weakening dollar typically makes gold more attractive to investors holding other currencies, contributing to the precious metal's price gains.

SME
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Economy

Slovak Banks Report Slight Decline in Profitability Despite Maintaining Strong Resilience

Slovak banks experienced a modest decrease in profitability last year while maintaining robust financial stability, according to banking sector data. The institutions demonstrated strong resilience despite facing economic headwinds. Credit cost provisions accelerated significantly in the final quarter of 2024, reflecting banks' cautious approach to potential loan losses amid evolving economic conditions. The banking sector's overall health remained solid even as profit margins faced pressure from the challenging operating environment.

TASR/Teraz
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Economy

Large Companies Offer Stability While Small Firms Attract with Flexibility, Analysis Shows

Large corporations maintain their appeal to job seekers primarily through stability, clear organizational structures, and comprehensive benefit packages including educational opportunities. Meanwhile, smaller companies are increasingly competitive by offering greater workplace flexibility to attract talent. The analysis highlights how different company sizes leverage their distinct advantages in Slovakia's competitive job market, with major employers focusing on traditional corporate benefits while smaller firms emphasize adaptable working conditions as their key differentiator.

TASR/Teraz
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Economy

Levoča to Install Electric Vehicle Charging Stations at Four Locations

The eastern Slovak town of Levoča will construct new electric vehicle charging stations at four locations throughout the municipality. The project carries a total cost of nearly 55,000 euros. The initiative represents the town's investment in expanding electric vehicle infrastructure to support the growing adoption of electric cars in the region.

Korzár
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Economy

Housing Affordability Crisis Persists as Construction Stagnates in Slovakia

Slovakia's housing affordability crisis shows no signs of improvement, with apartment construction remaining at critically low levels, according to a housing market analyst. The expert described the situation as alarming, noting that too few residential units are being built to meet demand. Data on building permits suggests the construction shortage will continue, offering little hope for relief in the housing market. The stagnation in new construction compounds existing affordability challenges for Slovak residents seeking homes.

TASR/Teraz
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Economy

Czech Banks Sharply Raise Mortgage Interest Rates in March

Czech banks significantly increased mortgage interest rates in March, with the rate increases immediately reflected in monthly payments for new loans, which rose by hundreds of crowns. The Middle East conflict has contributed to heightened market nervousness, affecting lending conditions in the Czech banking sector.

SMETASR/Teraz
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