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Last refreshed: 08/06/2026 05:40 · 33 articles added
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Economy

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Economy

Failed Financial Group Founder Attacks Business Rival's Major Investment Deal

Pavol Krúpa, founder of the collapsed financial group Arca, has launched an attack against businessman Tomáš Spuchliak's planned entry into a major Czech investment fund. Krúpa claims that one of Spuchliak's companies has outstanding debts and alleges his entire business group is controlled by J&T, a prominent financial conglomerate. Spuchliak has dismissed Krúpa's accusations as lies and announced plans to sue him. The dispute centers around what appears to be a significant acquisition deal that could reshape Slovakia's investment landscape, with Krúpa attempting to block Spuchliak's business expansion into Czech markets.

Dennik N
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Economy

Premium fuel becomes only option at many Slovak gas stations as cheaper alternatives run out

Slovak drivers are increasingly forced to purchase more expensive premium fuel as cheaper alternatives disappear from gas stations across the country within hours of delivery. Many filling stations nationwide are running out of standard fuel options, leaving only higher-priced premium gasoline and diesel available to consumers. The rapid depletion of cheaper fuel suggests strong demand amid ongoing concerns about fuel pricing and availability in Slovakia.

Aktuality
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Economy

Slovakia's Oil Emergency Could End Within Days, Prime Minister Says

Slovakia's state of oil emergency could be lifted as early as next week, Prime Minister Robert Fico announced following meetings at the Slovnaft refinery in Bratislava. The discussions included Economy Minister Denisa Saková and focused on the country's oil supply situation. Slovakia declared an oil emergency earlier this year due to disruptions in crude oil supplies, which threatened the country's energy security and fuel availability. The potential end to the emergency status suggests that supply chains have been stabilized and alternative sources secured to meet domestic demand.

Košice Dnes
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Economy

Slovakia Plans to Expand Social Security Agency's Debt Collection Powers

The Slovak government plans to expand the debt collection powers of Sociálna poisťovňa, the country's social security agency. Under the proposed changes, the agency would gain the authority to seize debtors' assets as part of its debt recovery efforts. The Social Security Agency currently administers pension, disability, and unemployment benefits for Slovak citizens and collects mandatory social insurance contributions from employers and employees. The expanded powers would strengthen the agency's ability to recover unpaid contributions and other debts owed to the social security system, potentially improving the financial stability of Slovakia's social insurance programs.

SME
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Economy

East Asian Stock Markets Rise on Hopes for End to Middle East Conflict

East Asian stock markets rallied on Wednesday amid optimism about a potential end to military conflicts in the Middle East. Japan's benchmark Nikkei 225 index closed trading with a significant gain of 5.24 percent, reflecting broader investor sentiment across the region. The surge appears driven by hopes that reduced geopolitical tensions could stabilize global markets and economic conditions.

TASR/Teraz
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Economy

Nitra Managed Budget of Nearly 138 Million Euros in 2023

The Slovak city of Nitra operated with a budget of nearly 138 million euros in 2023, with education receiving the largest allocation of municipal resources. The city directed almost 50 million euros to education, representing more than 46 percent of total municipal expenditures. Education has traditionally been the primary focus of Nitra's spending priorities, reflecting the significant role local governments play in funding schools and educational infrastructure in Slovakia's administrative system.

TASR/Teraz
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Economy

Poprad-Tatry Airport to operate record number of destinations this summer

Poprad-Tatry Airport will operate more flight destinations this summer than at any point in its history. The airport management expects charter flights to increase by 30% compared to the previous year, marking significant growth for the facility that serves Slovakia's High Tatras mountain region. The airport, located in northern Slovakia near the country's popular mountain tourism destinations, has been expanding its operations to accommodate growing demand from international visitors seeking access to the Tatras region.

TASR/Teraz
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Economy

Slovak PM Fico Says Cheap Fuel Prices Unsustainable as Slovnaft Returns Oil Shipments

Slovak Prime Minister Robert Fico acknowledged that the country's low fuel prices are unsustainable, as state-controlled refiner Slovnaft has begun returning oil shipments. The premier indicated that higher fuel prices may be necessary, marking a shift from earlier government promises to maintain affordable energy costs. Slovnaft, Slovakia's largest refinery owned by Hungarian energy company MOL, has started rejecting oil deliveries, suggesting supply chain disruptions that could affect domestic fuel availability. The development signals potential challenges for Slovakia's energy policy, as the government faces pressure to balance consumer costs with market realities amid broader European energy market volatility.

SME
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Economy

Slovakia to Require Cashless Payment Options from May

Slovakia will introduce a mandatory requirement for businesses to accept cashless payments starting in May. The government aims to increase economic transparency through the new regulation, which will compel merchants to offer electronic payment methods alongside cash transactions. The measure represents part of broader efforts to modernize the country's payment systems and reduce the shadow economy by making financial transactions more traceable.

SME
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Economy

Financial Group Challenges Sale of Fund Owning Bory Mall Shopping Center

RYG Investments has filed complaints with regulatory authorities to challenge a transaction involving a fund that owns Bory Mall, one of Bratislava's major shopping centers. The company is seeking to halt the deal and has turned to regulators to intervene in what it considers a problematic sale. The dispute centers on whether financial group J&T is behind the fund sale, though details of the specific concerns raised by RYG Investments remain unclear. The case highlights ongoing tensions in Slovakia's financial sector over major commercial real estate transactions.

SME
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Economy

Škoda's Large SUV Peaq Approaches Launch Without New Platform

Czech automaker Škoda is preparing to launch its large SUV model called the Peaq, but the vehicle will not receive the new platform initially planned for it. The Peaq represents Škoda's entry into the large SUV segment as the company expands its vehicle lineup beyond its traditional offerings of smaller cars and compact SUVs. The decision to proceed without a new dedicated platform suggests the model will likely be built on an existing Volkswagen Group architecture, as is common practice for Škoda vehicles within the German automotive conglomerate.

SME
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Economy

Slovak Parliament Demands 3.5 Million Euro Fine from Major IT Contractor Datalan

The Parliamentary Office of Slovakia is pursuing a substantial fine of nearly 3.5 million euros from Datalan, a major IT company that has worked with the Slovak state for decades. The debt appears in the Central Registry of Receivables, marking an unexpected dispute between the government and one of its long-standing technology contractors. Datalan, which has maintained successful partnerships with various state institutions over the years, describes the situation as a misunderstanding. The case highlights potential tensions in Slovakia's public procurement relationships, particularly in the IT sector where the government relies heavily on private contractors for digital infrastructure and services.

Aktuality
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Economy

Poland Cuts Fuel Prices Dramatically as Slovakia Raises Foreign Driver Costs

Poland has significantly reduced fuel prices, creating a potential return to cross-border fuel shopping as Slovak drivers seek cheaper alternatives. The timing has created tensions, as some Poles express frustration with Slovak drivers who recently began charging higher fuel prices to foreign customers but immediately traveled to Poland to purchase cheaper gasoline on the first day of the Polish price cuts. This development recalls previous periods of intense cross-border fuel purchasing along the Slovak-Polish border, where price differences drove significant consumer traffic between the neighboring countries.

Aktuality
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Economy

Slovakia's State Bond Sale Falls Short as Citizens Purchase Only Fraction of Available Securities

Slovakia's latest state bond offering to individual investors failed to reach full subscription this year, with citizens purchasing only a small portion of the available securities. The underperformance represents a setback for Finance Minister Ladislav Kamenický's efforts to attract retail investors to government debt. Financial experts predict the government will need to either reduce the volume of future bond offerings or make the terms more attractive to investors. State bonds for individuals are typically offered as a way for governments to finance public spending while providing citizens with a direct investment opportunity in their country's debt, often with tax advantages or competitive interest rates compared to bank deposits.

Aktuality
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Economy

Slovakia's Penta and J&T Bank Report Record Profits Despite Global Economic Pressures

Two of Slovakia's most powerful financial groups achieved record profits in 2024 despite global economic turbulence, wars, expensive energy, and trade tensions from US President Donald Trump's policies. Penta Group earned over 700 million euros, while J&T Bank generated more than 250 million euros in profits. Dr. Max pharmacies remained Penta's largest profit contributor, followed by hospitals, real estate, and gaming company Fortuna. Fortuna is now exploring its first acquisitions in Asia as part of expansion plans. J&T Bank increased its assets under management by more than half during the year, demonstrating the resilience of Slovakia's dominant domestic financial institutions amid challenging international conditions.

Dennik N
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Economy

ČSOB Bank Reports 3% Drop in Net Profit to €97.7 Million

ČSOB Bank, one of Slovakia's major commercial banks, recorded a net profit of €97.7 million in 2023, representing a 3% decline compared to the previous year. The profit decrease reflects ongoing challenges in the Slovak banking sector amid changing economic conditions and interest rate environment.

SME
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Economy

Two Brothers Use California Companies to Liquidate Slovak Businesses with Million-Euro Debts

Two brothers are using companies registered in California to liquidate Slovak businesses carrying significant debts, according to an investigation into corporate practices. The case involves Stavizol – Pozemné stavby, a construction company based in Žilina that employed approximately 40 people and generated nearly 13 million euros in revenue in 2023, though profits remained minimal. The company was previously controlled by entrepreneurs Pavol Hoblík and Miroslav Kopera before its business began shrinking a year later. By the end of last summer, warning signs emerged suggesting the company faced an abrupt closure, highlighting a pattern where foreign-registered entities are being used to wind down Slovak businesses while leaving substantial debts behind. The practice raises questions about corporate responsibility and debt management in Slovakia's business sector.

Dennik N
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Economy

U.S. Steel Says Large Numbers of Steelworkers No Longer Needed as University Faculty Faces Merger

U.S. Steel has declared that large numbers of steelworkers are no longer required for its operations, a statement that has prompted significant changes in Slovakia's educational sector. The announcement has forced a university faculty that has trained steelworkers for decades to merge with another institution due to reduced demand for metallurgical education. However, industry experts dispute the steel giant's assessment, arguing that steelworkers will continue to be essential for the sector. The development highlights broader questions about the future of Slovakia's steel industry and the educational infrastructure built around it, particularly as the country's industrial landscape undergoes transformation.

Korzár
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Economy

Technical University in Košice to Lose Faculty as Steel Industry Demands Change

The Technical University of Košice will reduce its number of faculties, reflecting changes in Slovakia's steel industry employment needs. U.S. Steel, which operates major facilities in eastern Slovakia, has indicated it requires specialized experts rather than large numbers of workers. Despite the faculty reduction, industry specialists argue that metallurgical expertise will remain essential for the region's industrial sector. The move highlights broader shifts in Slovakia's heavy industry, where American steel giant U.S. Steel has been a major employer since acquiring the former state-owned steel works in Košice in the early 2000s.

Korzár
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Economy

Kia Slovakia Workers Enter Strike Alert Status

Workers at Kia Slovakia's manufacturing plant have entered strike alert status following a vote by union delegates. The local chapter of the KOVO metalworkers' union in Žilina will now proceed to hold a ballot among employees on whether to initiate an actual strike. Kia Slovakia operates the country's largest automotive manufacturing facility in Žilina, northern Slovakia, producing vehicles for the European market and serving as a major employer in the region. The plant is a key component of Slovakia's automotive industry, which accounts for a significant portion of the country's manufacturing output and exports.

TASR/Teraz
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