Dávka - Your daily dose of Slovak news
♥ Support DávkaNewsletter
Last refreshed: 07/06/2026 05:36 · 18 articles added
Stories are refreshed at 05:30, 10:30, 15:30, and 21:30 UTC.

Economy

View all1460 stories
Economy

War in Iran Doubles Aviation Fuel Prices, Food Costs May Follow If Conflict Escalates

Aviation fuel prices have doubled due to the ongoing conflict in Iran, according to analyst assessments. The war has created significant disruptions in energy markets, directly impacting the aviation sector with substantially higher fuel costs. Experts warn that if the conflict continues to escalate, the price increases could extend beyond aviation fuel to affect food prices, as transportation costs rise throughout supply chains. The situation highlights how regional conflicts can have far-reaching economic consequences through energy market volatility.

SME
|
Economy

Regional insolvency rates show mixed trends as Slovakia improves

Slovakia recorded an improvement in its insolvency statistics, even as regional differences in bankruptcy rates continue to widen across Central Europe. Poland experienced the most dramatic increase in insolvencies, with rates climbing 17.8 percent. The divergent trends highlight varying economic pressures across the region, with some countries managing financial distress more effectively than others while Poland faces mounting business failures.

SME
|
Economy

S&P 500 Index Reaches Record High

The S&P 500 stock index hit a new record high, driven by strong performance in Apple shares and declining oil prices. The technology giant's stock gains helped propel the broader market index to its latest milestone, while falling crude oil prices provided additional support for investor sentiment.

SME
|
Economy

Bratislava's Aupark Shopping Center Secures €270 Million Debt Refinancing

Bratislava's Aupark shopping center has secured €270 million in debt refinancing from a consortium of five major banks, marking one of the largest real estate lending transactions in Slovakia's market. The financing package was provided by a syndicate including UniCredit Bank, ČSOB, ING Bank, Tatra banka, and VÚB banka. Aupark, one of Bratislava's largest shopping centers located in the Petržalka district, serves as a major retail destination in the Slovak capital. The refinancing deal highlights the continued strength of Slovakia's commercial real estate sector and the confidence banks have in premium retail properties despite broader economic uncertainties.

SMETASR/Teraz
|
Economy

Pavol Jančovič Returns as President of Slovak Transport Association

Pavol Jančovič has returned to his role as president of Česmad Slovakia, the country's main transport industry association. Jančovič stated that transport companies are currently facing a challenging period, though specific details about the nature of these difficulties were not elaborated. Česmad Slovakia represents road transport operators and logistics companies across the country, advocating for industry interests and policy changes affecting the transport sector.

SME
|
Economy

MOL Strengthens Oil and Gas Extraction Operations in Hungary

Hungarian energy company MOL is expanding its oil and gas extraction activities in Hungary, with the company expecting production to increase by approximately 900 barrels of oil equivalent per day. MOL is one of Central Europe's major integrated oil and gas companies, headquartered in Budapest, with significant operations across the region including refineries and retail networks. The production increase represents part of the company's efforts to boost domestic energy output amid ongoing European energy security concerns.

SME
|
Economy

European Central Bank Maintains Current Policy Stance

The European Central Bank opted to maintain its current monetary policy without making changes at its latest meeting. Financial analysts suggest this decision reflects a cautious approach to emerging economic challenges. While concerns about stagflation - a combination of economic stagnation and inflation - present some risk to the eurozone economy, experts indicate the threat is not yet severe enough to warrant immediate policy intervention or cause for alarm among policymakers and investors.

Dennik N
|
Economy

Nearly Half of Slovak Workers Unaware of How Their Salaries Are Determined, Survey Shows

Nearly half of Slovak employees do not understand the rules governing how their salaries are calculated, according to a new survey. The research also revealed that almost no one has access to data about wage differences between genders in their workplaces. These findings highlight widespread lack of transparency in Slovak wage systems, where workers remain uninformed about the criteria used to determine their compensation. New legislation is being prepared to address this transparency gap and change the current situation, though specific details of the proposed reforms were not provided.

Aktuality
|
Economy

Eastern European economies outpacing eurozone growth

Eastern European economies are growing faster than the eurozone, with EU member states in the region expected to achieve 2.3 percent growth this year. The stronger economic performance highlights the continued resilience of Central and Eastern European countries compared to their Western counterparts in the eurozone, which have faced slower expansion amid various economic headwinds.

SME
|
Economy

Slovakia Faces 'National Catastrophe' if EU Funds Are Suspended

Slovakia could face a "national catastrophe" if European Union funding is suspended, according to concerns raised about the country's dependence on EU structural funds. The majority of investments in Slovakia come from EU funds, making any potential suspension a critical threat to the country's economic development. Slovakia, like other EU member states, relies heavily on European structural and investment funds to finance infrastructure projects, economic development initiatives, and various modernization programs. The warning highlights the vulnerability of Slovakia's investment landscape to potential EU funding cuts, which could occur if the country fails to meet certain EU standards or requirements.

SME
|
Economy

Slovakia Moves to Adopt European Hotel Classification System

The Association of Hotels and Restaurants of Slovakia has proposed that the country join the Hotelstars Union, a European hotel rating and classification system. The move would standardize Slovakia's hotel rating system with European standards, making it easier for international travelers to understand accommodation quality levels. The Hotelstars Union operates across multiple European countries and provides a unified system for rating hotels from one to five stars based on consistent criteria for facilities, services, and amenities.

TASR/Teraz
|
Economy

Chinese automaker BYD reports continued sales decline in April

Chinese electric vehicle manufacturer BYD experienced continued declining sales in April, following a trend that has affected the automotive giant. The company reported revenues of 150.2 billion yuan (approximately $20.8 billion) for the first quarter of the year. BYD, one of China's largest automakers and a major player in the global electric vehicle market, has been facing challenges amid intensifying competition in the EV sector and broader economic pressures affecting consumer demand.

TASR/Teraz
|
Economy

World's Largest Electric Vehicle Manufacturer Reports Eighth Consecutive Month of Sales Decline

The world's largest electric vehicle manufacturer has experienced declining sales for the eighth consecutive month, with the downturn primarily attributed to reduced demand in its domestic market. The sustained sales decline highlights growing challenges in the global electric vehicle sector, as manufacturers face shifting consumer demand patterns and market pressures that are affecting even industry leaders.

SME
|
Economy

ExxonMobil and Chevron Report Sharp Profit Declines Despite Rising Oil Prices

Major American oil companies ExxonMobil and Chevron reported significant drops in profits despite rising oil prices during the reporting period. Chevron's revenues reached $47.56 billion, representing a 3.2% increase compared to the same period last year. The contrasting trends of declining profits alongside increased revenues and higher oil prices highlight the complex dynamics affecting the energy sector's financial performance.

SMETASR/Teraz
|
Economy

Environment Ministry to Provide Staff to Speed Up EU Funds Controls

Environment Minister Tomáš Taraba will provide personnel assistance to the Public Procurement Office (ÚVO) to accelerate controls of European Union funds. The Environment Ministry will supply nearly 40 staff members to support the office's operations. The Public Procurement Office is Slovakia's authority responsible for overseeing public procurement processes and ensuring compliance with EU regulations on the use of European funds. This personnel transfer appears aimed at addressing potential bottlenecks in the monitoring and control of EU funding programs in Slovakia.

SME
|
Economy

Slovak Economy Cannot Rely on Cheap Labor Forever, Economist Argues

Slovak economist Monika Uhlerová has argued that Slovakia's economy cannot indefinitely depend on low wages as a competitive advantage, describing current wage debates as merely addressing surface-level symptoms of deeper structural issues. She emphasized that dignified working conditions and fair compensation do not emerge naturally but result from pressure, negotiations, and deliberate political decisions. Uhlerová made these comments in connection with International Workers' Day, arguing that the holiday remains relevant as a platform for addressing labor rights and economic policy. Slovakia has historically attracted foreign investment through relatively low labor costs compared to Western European countries, but economists have increasingly questioned whether this model is sustainable for long-term economic development and living standards.

Aktuality
|
Economy

Gold Prices Drop, Weekly Decline Expected

Gold prices fell on Friday morning, with spot gold trading just below $4,593 per troy ounce (€3,925) by 9:30 AM Central European Time. The precious metal is also heading toward a decline for the entire week, continuing recent downward pressure on gold markets.

TASR/Teraz
|
Economy

Slovak Banks Launch Mortgage Relief Program to Help Clients With Higher Payments

Slovak banks have introduced a mortgage assistance program designed to help homeowners cope with increased monthly payments. Under the new initiative, banks will reimburse clients for a portion of their higher mortgage payments, providing direct financial relief to borrowers facing payment increases. The program aims to mitigate the impact of interest rate refixing, a process where mortgage rates are adjusted based on current market conditions, typically resulting in higher monthly payments for existing borrowers when rates have risen since their original loan agreements.

SME
|
Economy

Insurance Analyst Warns Older Policies May Have Inadequate Coverage

Insurance analysts are warning Slovak consumers that older insurance policies may not provide sufficient coverage for current needs. According to industry experts, disability poses the greatest financial risk to families, as statistics show people of working age are far more likely to become disabled than to die. The warning comes as insurance professionals highlight gaps in coverage that may have developed over time as policy terms and market conditions have changed.

TASR/Teraz
|
Economy

Oil prices continue rising, with WTI above $105 per barrel

Oil prices continued their upward trajectory, with Brent crude for July delivery reaching $111.38 per barrel by 10:32 Central European Summer Time. The West Texas Intermediate (WTI) crude benchmark remained above $105 per barrel. The price increases reflect ongoing pressures in global energy markets, affecting fuel costs worldwide as crude oil serves as the primary raw material for gasoline, diesel, and other petroleum products.

TASR/Teraz
|