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Last refreshed: 20/06/2026 10:38 · 48 articles added
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Economy

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Economy

Oil Prices Surge Near $120 as Iranian Conflict Escalates, Fuel Costs Expected to Rise

Oil prices have climbed to nearly $120 per barrel amid escalating conflict involving Iran, raising concerns about increased fuel costs for consumers. The price surge reflects market volatility driven by geopolitical tensions in the Middle East. Meanwhile, Slovak Prime Minister Robert Fico recently stated that beyond three core priorities - ensuring adequate supplies of oil, gas, and electricity; combating illegal migration; and keeping Slovakia out of war - he considers other policy matters secondary. Fico's comments, made during a student discussion last Thursday and reiterated in a video yesterday, effectively acknowledge that public finances are not among his primary concerns, confirming what observers have noted about his political approach for years.

Dennik N
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Economy

Slovakia's Railways Show Mixed Picture with New High-Speed Routes and Abandoned Lines Turned Cycle Paths

Slovakia's railway system presents a tale of two futures as the country enters 2026, with stark contrasts emerging across different parts of the network. While some routes are seeing the introduction of new high-speed trains and low-cost rail operators positioning themselves as alternatives to air travel, other railway lines have been abandoned and converted into bicycle paths. The development reflects broader changes in European transportation, where budget rail companies are expanding their services to compete with airlines on popular routes, while less profitable regional connections face closure. This dual trend highlights the ongoing transformation of Slovakia's rail infrastructure, where investment flows toward commercially viable high-speed connections while rural and secondary lines struggle to maintain passenger services.

Aktuality
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Economy

Čižnárovci Family Behind New Residential Development in Banská Bystrica

The Čižnárovci family is behind a new apartment building project in the center of Banská Bystrica, Slovakia's central regional capital, and has already sold most of the units. The residential development represents a business deal potentially worth over two million euros. The project demonstrates continued real estate investment activity in Slovakia's regional centers, with the Čižnárovci family expanding their business interests into the housing market in one of the country's largest cities.

Aktuality
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Economy

Oil prices surge to highest weekly gains in six years amid Iran-US tensions

Oil prices soared sharply at the end of the week, posting their highest weekly gains in six years as markets reacted to the effective closure of the Strait of Hormuz. The critical waterway's disruption resulted from escalating tensions between the United States and Iran, paralyzing approximately one-third of the world's maritime oil shipments. The Strait of Hormuz serves as a crucial chokepoint for global oil transport, connecting the Persian Gulf to international markets and handling roughly 20% of all petroleum liquids traded worldwide.

Aktuality
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Economy

Slovakia's Continued Russian Energy Imports Driven by Politics and Profits Despite Technical Claims

Slovakia continues importing Russian oil and gas despite official claims that technical and economic reasons necessitate these purchases. An analysis reveals that the officially presented technical and economic justifications can be easily disputed, leaving political motivations and financial interests as the primary drivers behind maintaining these energy ties. The investigation points to the importance of tracking where the money from these transactions flows, suggesting that intermediary companies may be benefiting from these arrangements. Slovakia's continued reliance on Russian energy comes as the European Union has been working to reduce its dependence on Russian fossil fuels following the invasion of Ukraine.

Dennik N
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Economy

Slovak Post Replaces Physical Branches with Mobile-Equipped Delivery Workers

Slovakia's national postal service has eliminated dozens of traditional post office branches, replacing them with delivery workers equipped with mobile devices as part of its digital transformation strategy. The change has left citizens without access to physical postal facilities in numerous locations across the country. The Slovak Post's shift reflects broader changes in postal services as they adapt to the digital era, moving away from fixed branch networks toward mobile service delivery models.

Korzár
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Economy

Experienced seamstress closes business after nearly 30 years, citing systemic pressures

A skilled seamstress has closed her business after nearly three decades of operation, saying the current system has forced her to abandon her beloved profession. The craftwoman stated that her long-cherished work can no longer provide adequate income to sustain her livelihood, compelling her to shut down the trade license she had maintained for almost 30 years.

Korzár
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Economy

Slovak Oligarch Expands Military Production with Government Support

Slovak businessman Jaroslav Strnad is expanding his military manufacturing operations with government subsidies, including plans for a new facility producing explosive powder fillings. The project involves French cooperation, following recent meetings between Prime Minister Robert Fico and French President Emmanuel Macron. Slovak arms manufacturers currently import these powder components, but the new domestic production would reduce this dependency. Strnad, who has built an extensive network of defense-related businesses, is receiving financial support from Defense Minister Robert Kaliňák's ministry to develop the facility in Strážske, eastern Slovakia.

Dennik N
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Economy

US Stock Markets Face Worst Week in Nearly a Year as Trump Rejects Iran Deal

The Dow Jones Industrial Average recorded its worst weekly performance in almost a year amid escalating tensions between the United States and Iran. President Donald Trump announced Friday that he does not want any agreement with Iran and instead demands the country's unconditional surrender. The market decline reflects investor concerns over the deteriorating diplomatic situation with Tehran, which has contributed to broader uncertainty in global financial markets.

TASR/Teraz
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Economy

Tax Expert Warns Against Simplistic Cross-Border Tax Rate Comparisons

A tax expert cautioned that comparing tax systems between countries requires more than just examining tax rates alone. The specialist emphasized that individuals considering relocating to benefit from different tax regimes must thoroughly establish their tax residency status in their new country of residence. The warning comes as tax optimization through international relocation becomes an increasingly discussed topic among high earners and businesses seeking to minimize their tax obligations.

TASR/Teraz
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Economy

Slovakia has most expensive gasoline among Visegrad Four countries

Slovakia currently has the highest gasoline prices among the four Visegrad Group countries, while its diesel prices are second-highest, trailing only Hungary. The Visegrad Four is a regional alliance comprising Slovakia, Czech Republic, Poland, and Hungary that coordinates policy on various issues including economic matters. Fuel price developments in the coming weeks will likely be influenced by conditions on global oil markets, which have shown volatility due to geopolitical tensions and supply chain factors affecting crude oil availability and pricing worldwide.

SME
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Economy

SPP Secures Most Competitive Gas Prices Through Strategic Gazprom Amendment

Slovak gas utility SPP has secured what it describes as the most competitively priced natural gas through a strategic amendment to its contract with Russian energy giant Gazprom. The arrangement comes as Slovakia navigates European Union regulations governing energy procurement and trade relationships with Russian companies. SPP, the country's dominant gas supplier, has emphasized that the agreement should not violate EU directives that have imposed restrictions on Russian energy imports following geopolitical tensions. The deal reflects Slovakia's continued dependence on Russian gas supplies despite broader European efforts to reduce energy reliance on Moscow.

SME
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Economy

Slovak State Housing Development Fund Provided Nearly 380 Million Euros in Housing Loans

Slovakia's State Housing Development Fund supported housing projects with loans totaling almost 380 million euros last year, representing an increase of more than 24 million euros compared to the previous year. The State Housing Development Fund is a government institution that provides financial support for housing development and homeownership in Slovakia. The year-over-year growth of over 24 million euros indicates expanded government backing for residential construction and home purchases amid ongoing housing affordability challenges in the country.

SME
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Economy

US stocks plunge sharply as Dow Jones loses 900 points

US stock markets suffered steep declines, with the Dow Jones Industrial Average falling 900 points in a dramatic selloff. The sharp drop came as traders reacted to unexpected cooling in the US labor market, which raised concerns about economic conditions and prompted widespread selling across major indices.

TASR/Teraz
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Economy

Slovak competition authority reviews takeover of Bratislava hospital by healthcare group

Slovakia's competition authority is examining a proposed acquisition of the University Hospital of Merciful Brothers in Bratislava by healthcare group Agel. The Protimonopolný úrad (PMÚ), Slovakia's antitrust office which reviews major corporate mergers and acquisitions, is conducting the standard regulatory assessment required for such transactions. The University Hospital of Merciful Brothers announced in early December that it plans to lay off approximately 90 employees, though the timing of these job cuts in relation to the proposed takeover remains unclear. Agel is a major Central European healthcare operator that owns and operates hospitals and medical facilities across several countries in the region.

TASR/Teraz
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Economy

Slovakia's Antimonopoly Office Reviews Agel Group's Acquisition of Hospital

Slovakia's Antimonopoly Office is examining the acquisition of Milosrdní bratia (Merciful Brothers) hospital by the Agel Group, a major healthcare company. The transaction involves the takeover of the hospital's operations, though the real estate properties remain under the ownership of the religious order. The Antimonopoly Office, which reviews mergers and acquisitions to prevent market monopolization, is conducting its standard regulatory assessment of the deal to ensure it complies with competition laws.

SME
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Economy

Military Conflict in Iran Could Drive Up Energy and Food Prices

A military conflict in Iran would likely increase energy prices and potentially food costs as well, according to a European economic outlook review. Iran's strategic position in global energy markets means any disruption to its oil and gas production or export capabilities could send shockwaves through international commodity markets. The potential price increases would extend beyond energy to food products, as higher fuel costs typically translate into increased transportation and production expenses throughout the agricultural supply chain.

SME
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Economy

Slovak Energy Regulator Calls Meeting with Industry on Energy Prices and Competitiveness

Slovakia's energy regulator ÚRSO has convened a meeting with industry representatives to discuss energy prices and competitiveness issues. The discussions are aimed at developing a unified framework of requirements to be presented to European institutions. The initiative comes as Slovak businesses face mounting pressure from high energy costs that threaten their competitive position in international markets.

SME
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Economy

Global Food Prices Rise Most in Four Months During February

Global food prices increased at their fastest pace in four months during February, driven by multiple factors affecting agricultural markets worldwide. The price surge reflects growing concerns over potential crop losses due to harsh winter conditions in Europe and the United States, which threaten agricultural production in key farming regions. The increases were further amplified by logistical disruptions in Russia, one of the world's major grain exporters, and ongoing tensions in the Black Sea region. The Black Sea area serves as a crucial corridor for global grain exports, particularly wheat, with both Russia and Ukraine being significant suppliers to international markets before geopolitical tensions disrupted normal trade patterns.

SME
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