Dávka - Your daily dose of Slovak news
♥ Support DávkaNewsletter
Last refreshed: 05/06/2026 21:42 · 44 articles added
Stories are refreshed at 05:30, 10:30, 15:30, and 21:30 UTC.

Economy

View all1448 stories
Economy

Ferrari Unveils First Electric Car Designed by Former Apple Designer, Sparks Mixed Reactions

Ferrari has revealed its first fully electric vehicle, the Luce, priced at over $600,000 and designed by a former Apple iPhone designer. The luxury automaker's debut electric model features a minimalist design approach that represents a departure from Ferrari's traditional sports car aesthetic. The unconventional family-oriented concept and controversial minimalist styling have generated negative reactions among both loyal Ferrari fans and investors, causing stock market volatility. The vehicle marks a significant shift for the Italian luxury brand as it enters the electric vehicle market, though the reception suggests the company faces challenges in balancing innovation with brand heritage expectations.

Aktuality
|
Economy

American Uber Investor Sees New Opportunities for Slovakia Beyond Automotive Sector

An American investor who previously backed Uber has identified new opportunities for Slovakia, though not in the automotive industry that has traditionally driven the country's economy. The investor's comments come as Slovakia, heavily dependent on car manufacturing with major plants from Volkswagen, Kia, Jaguar Land Rover, and Stellantis, faces questions about economic diversification. Slovakia's automotive sector accounts for roughly half of the country's industrial production and has been a cornerstone of economic growth since the post-communist transition, making alternative investment perspectives particularly significant for the country's long-term development strategy.

SME
|
Economy

Slovak Government to Discuss Pro-Growth Measures Without Budget Impact on Wednesday

The Slovak government is scheduled to discuss a proposal for pro-growth economic measures that would not affect the state budget during its Wednesday session. The tripartite council, which brings together government representatives, employers, and trade unions, will meet on Tuesday to review the proposed legislation before it goes to the cabinet for consideration. The specific details of the pro-growth measures have not been disclosed, but their design to avoid budget implications suggests they may focus on regulatory changes or administrative reforms rather than direct government spending.

SME
|
Economy

Universal Music Group Rejects $65 Billion Takeover Bid from US Investment Firm

Universal Music Group rejected a $65 billion takeover offer from American investment company Pershing Square on Friday. The music giant, which represents major artists including Ariana Grande, Billie Eilish and The Weeknd, said the bid "significantly undervalues" the company. UMG is one of the world's largest music companies, controlling a vast catalog of recordings and representing some of the industry's biggest stars across multiple genres.

SMETASR/Teraz
|
Economy

Czech Republic Reports Record Housing Prices as Shortage Drives 12.5% Annual Increase

Housing prices in the Czech Republic reached record highs in the first quarter, rising 12.5 percent year-on-year due to insufficient supply of homes and apartments. The average price of apartments climbed above 218,000 euros as the real estate market continues to break new records. While small micro-apartments are approaching their price ceiling, the cost of building plots is accelerating even faster due to outdated municipal zoning plans that restrict development. The Zlín region emerged as the year's biggest price jumper in the country's overheated property market.

SMEAktuality
|
Economy

Survey: Slovak Households Now Cutting Back on Food Expenses

Slovak households have begun reducing their spending on food, according to a new survey. The cutbacks do not involve completely eliminating food expenses from household budgets, but rather limiting expenditures and changing financial behavior regarding this basic necessity. This represents a shift in how families are managing their essential spending as they adapt their purchasing habits for fundamental items like groceries.

TASR/Teraz
|
Economy

Slovak Cities to Receive More Revenue from Office Tower Tax as Floor Tax Increases

Slovak municipalities will collect higher revenues from office towers and high-rise buildings after the government increased the floor tax rate, which had remained unchanged since the beginning of the millennium. The tax adjustment affects multi-story commercial and residential developments, providing cities with additional income from real estate in their territories. However, property developers have warned that the increased tax burden will likely be passed on to tenants and buyers, potentially raising costs for office space and residential units. The floor tax is levied on buildings based on their number of stories, with taller structures paying proportionally higher rates to local governments.

SME
|
Economy

Brent crude oil falls below $90 per barrel for first time in three weeks

Brent crude oil prices dropped below $90 per barrel for the first time in three weeks, driven by hopes that the United States and Iran will soon reach an agreement to extend a ceasefire. The price decline reflects market optimism about potential diplomatic progress between the two countries, which could reduce tensions in a key oil-producing region.

SME
|
Economy

Slovakia's Tourism Agency Again Distributes Hundreds of Thousands in EU Funds for Questionable Projects

Slovakia's Tourism Promotion Agency (PPA) has once again allocated hundreds of thousands of euros from European Union funds to projects that appear to have little connection to tourism development. The distribution of these EU funds has raised concerns about whether the money is being used for its intended purpose of promoting Slovakia's tourism sector. This latest allocation echoes previous controversies over the agency's funding decisions, suggesting a pattern of questionable project selections. The Tourism Promotion Agency, which operates under the Ministry of Transport and Construction, is responsible for managing EU funds designated specifically for tourism development and promotion initiatives across the country.

SME
|
Economy

Wizz Air Confirms Continuous Operations Despite Fuel Shortage Concerns

Budget airline Wizz Air announced Friday that it has secured continuous operations by directly hedging 70% of its fuel needs against Jet A-1 aviation fuel prices. The Hungarian low-cost carrier, which operates numerous routes from Slovakia including flights from Bratislava and Košice airports, took the hedging measures to protect against fuel price volatility and potential supply disruptions. The airline's fuel security strategy comes amid broader concerns in the aviation industry about fuel availability and rising costs, ensuring operational stability for its Central European network.

TASR/Teraz
|
Economy

Slovak Housing Prices Rise at Near-Record Pace in Early 2024

Housing prices in Slovakia surged by 3.6 percent in the first quarter of 2024 and by 14.4 percent year-on-year, marking the third-fastest annual growth rate in 15 years. The sharp price increases coincided with rising mortgage interest rates linked to Middle East conflicts, creating additional financial pressure on prospective homebuyers. The combination of rapidly escalating property values and higher borrowing costs has significantly worsened housing affordability for Slovaks looking to purchase apartments or houses during this period.

Dennik N
|
Economy

New Hospital in Prešov May Cost One Billion Euros, Health Minister Says

The construction of a new hospital in Prešov could reach one billion euros, according to Health Minister Kamil Dvořák. The minister revealed that the contract contains approximately eight provisions that would allow Defense Minister Robert Kaliňák to further increase the project's costs. Prešov, Slovakia's third-largest city located in the eastern part of the country, currently relies on aging medical infrastructure. The project represents a significant investment in Slovakia's healthcare system, though the potential for cost overruns raises concerns about budget management and fiscal oversight of major public works projects.

SME
|
Economy

Company Appeals After Environment Ministry Revokes License for Trojárová Mining Project

The Slovak Ministry of Environment has revoked the exploration license for an antimony and gold mining project at Trojárová, prompting the affected company to file an appeal. The ministry halted the mineral exploration activities, though specific reasons for the license cancellation were not detailed. The Trojárová project involves the exploration of antimony, a metal used in flame retardants and batteries, along with gold deposits in the area.

SME
|
Economy

Slovak Labor Inspectorate Uncovers Illegal Employment in Nationwide Operation

Slovakia's National Labor Inspectorate conducted a nationwide operation from May 18-22 targeting illegal work and illegal employment practices. The inspections focused on 173 temporary employment agencies and examined workplaces where these agencies deploy their workers. The operation was part of ongoing efforts by the National Labor Inspectorate, Slovakia's workplace standards enforcement agency, to crack down on violations of employment law and ensure proper working conditions across the country.

Košice Dnes
|
Economy

Volkswagen Celebrates 35 Years in Slovakia, Produces Eight Million Vehicles

German automaker Volkswagen is marking 35 years of operations in Slovakia, having produced eight million vehicles at its Bratislava plant since establishing operations in the country. The milestone underscores the significance of Slovakia's automotive sector, which has become a cornerstone of the national economy. To celebrate the anniversary, Volkswagen will hold an open day event at its Bratislava facility in September, allowing the public to visit the manufacturing plant. The Bratislava plant represents one of Volkswagen's key European production facilities and has played a central role in establishing Slovakia as a major automotive manufacturing hub in Central Europe.

SME
|
Economy

Czech Economic Growth Slows in First Quarter Due to Weakening Domestic Demand

The Czech Republic's economic growth decelerated during the first quarter of 2024, with the slowdown attributed to weakening domestic demand. The quarter-on-quarter growth rate fell compared to previous periods, reflecting reduced consumer and business spending within the country. This development highlights challenges facing the Czech economy as domestic purchasing power and investment activity declined during the early months of the year.

TASR/Teraz
|
Economy

Slovak Engineering Firms Merge to Strengthen Forest Equipment Production

Slovak engineering company SL Slovakia, which operates the Essel brand, is acquiring forest tractor manufacturer Equus in a merger between two innovative domestic companies. The consolidation aims to strengthen both firms' position in international markets and represents a significant development in Slovakia's engineering sector. While Slovak manufacturing is largely dominated by foreign-owned factories producing goods developed abroad, the country also hosts smaller innovative manufacturers owned by domestic entrepreneurs. The merger between these two Slovak engineering firms demonstrates the potential for local companies to compete globally through strategic partnerships in specialized equipment sectors.

Dennik N
|
Economy

Slovaks Increasingly Seek Fast, Affordable Shopping Options

Slovaks are increasingly looking for stores where they can shop both affordably and quickly without unnecessary stress, as time and money have become the most valuable commodities. The trend reflects growing consumer demand for efficient shopping experiences that combine competitive pricing with convenience.

Aktuality
|
Economy

Slovnaft Rejects Politicians' Claims About Tax Arrears

Slovnaft, Slovakia's largest oil refinery, has rejected allegations from politicians regarding tax arrears. The company asserted that it has been the largest corporate income tax payer in the private sector over the past three years. The dispute highlights ongoing tensions between the government and major corporations over tax compliance, though the specific nature of the politicians' claims was not detailed. Slovnaft, which is owned by Hungarian energy giant MOL, operates the country's main oil refining facility and is one of Slovakia's most significant industrial companies.

SME
|
Economy

Slovakia's Housing Renovation Subsidies Face Major Cuts After 2028

Slovakia's housing renovation subsidies could be reduced by half after 2028, threatening to make home improvements significantly more expensive for residents. The potential funding cuts raise concerns about increased housing costs for homeowners and potential job losses in the construction industry. The current subsidy program supports home renovations and energy efficiency improvements, but faces an uncertain financial future without new funding commitments from the government or European Union sources.

SME
|