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Last refreshed: 07/06/2026 15:41 · 49 articles added
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Economy

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Economy

Developer Lucron Begins Construction of Major Rental Housing Project in Bratislava

Lucron has started construction of two residential buildings in Bratislava's Petržalka district that will contain over 300 rental apartments, making it the first developer in the Slovak capital to remain as the investor in an entire rental housing complex. The project, called Nesto, represents the first major commercial rental housing development in Bratislava designed from the outset for long-term rental rather than sale. The development comes as Slovakia faces a housing affordability crisis, particularly in Bratislava where property prices have surged in recent years. While the Slovak government has prepared support schemes to encourage rental housing construction, Lucron's project is proceeding without state assistance, indicating growing private sector interest in the rental market as an alternative to traditional buy-to-sell development models.

Dennik N
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Economy

Slovak Travel Agencies Hold Prices Despite Doubling Aviation Fuel Costs

Slovak travel agencies have not yet passed on doubled aviation fuel costs to customers booking summer vacation packages, despite jet fuel prices rising dramatically since the Middle East conflict began. The agencies are absorbing the increased costs due to existing contracts with airlines and weaker sales before the main tourist season. If fuel prices remain elevated, travelers may see fewer cheap last-minute deals or modest price increases of around 50 euros per trip. The aviation fuel price surge has doubled since the start of the Middle East conflict, but tour operators are delaying price adjustments to maintain competitiveness during the crucial pre-summer booking period.

Dennik N
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Economy

Kia Reports Sharp Profit Drop Despite Record Revenue Growth

South Korean automaker Kia announced a significant decline in profits despite achieving record revenue levels. The company attributed the profit drop to external factors, including the impact of American tariffs and consequences from the ongoing Middle East conflict. While the company's sales reached new highs, these external pressures weighed heavily on its bottom line, highlighting how global trade tensions and geopolitical conflicts are affecting major automotive manufacturers.

SMETASR/Teraz
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Economy

Million-Euro Battery Storage Facility Launches in Eastern Slovakia

Slovakia's state-owned gas company SPP has connected a battery storage facility worth over one million euros to the electrical distribution grid in Spišská Belá, a town in eastern Slovakia. The facility is expected to receive final approval and commissioning in the coming days. SPP, which is Slovakia's dominant natural gas supplier and is majority-owned by the state, has been diversifying its operations beyond traditional gas services as the country works to modernize its energy infrastructure and reduce dependence on fossil fuels.

TASR/Teraz
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Economy

Condom Prices to Rise at Least 30 Percent Due to War in Iran

Condom prices in Slovakia will increase by at least 30 percent due to supply chain disruptions caused by the war in Iran. The conflict has created shortages of raw materials and chemicals essential for condom production, forcing manufacturers to raise prices significantly. The price increase reflects broader supply chain challenges affecting various industries as geopolitical conflicts disrupt global trade routes and manufacturing processes.

SME
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Economy

Bratislava's Real Estate Market Gains Momentum as New Housing Sales Rise

Bratislava's new housing market is showing signs of recovery with 3,922 apartments currently on offer and annual sales reaching two-thirds of the available inventory. The capital city's real estate sector is experiencing accelerated activity as developers and buyers return to the market after a period of slower transactions. Analysts are noting a cautious increase in property prices that mirrors broader inflation trends across Slovakia. This price growth pattern is attracting buyers who see opportunities in the current market conditions, contributing to increased sales volumes compared to previous periods. The development reflects broader economic conditions in Slovakia, where Bratislava serves as the country's financial and business center. The real estate market is considered a key indicator of economic health, with new construction activity and sales volumes providing insights into consumer confidence and investment trends in the capital region.

Aktuality
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Economy

Swedish Truck Manufacturer Volvo AB Reports Sharp Drop in Quarterly Revenue and Profit

Swedish truck manufacturer Volvo AB experienced a significant decline in both quarterly revenue and profit during the first three months of 2024. The company's total operating profit reached 990.77 million euros for the first quarter, representing a substantial decrease from the previous period. The decline reflects challenging market conditions facing the commercial vehicle industry, which has been grappling with reduced demand and economic uncertainties affecting transportation and logistics sectors globally.

SME
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Economy

Small Entrepreneurs Forced to Return COVID Aid Over Transaction Tax Compliance Issues

Small business owners across Slovakia are being forced to return government subsidies received during the COVID-19 pandemic due to new legislative changes and strict enforcement by labor offices. Despite using the financial aid in accordance with regulations at the time, entrepreneurs must now repay entire subsidies for failing to declare new business bank accounts required under updated rules. A beautician among those affected said the situation has forced her to close her business, describing the impact as devastating. The cases highlight how changes to Slovakia's transaction tax legislation and stricter administrative requirements are creating unexpected financial burdens for small entrepreneurs who originally received the aid legally during the pandemic economic crisis.

Aktuality
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Economy

Slovak Travel Company BUBO Offers 50% Discount on Exotic Holidays

BUBO, Slovakia's leading exotic travel operator for 30 years, has launched an unprecedented promotional campaign offering discounts of up to 50% on over 7,000 holiday packages. The company is marketing trips to destinations like Mexico and Thailand at prices comparable to summer holidays in Croatia, with deposits as low as 226 euros. The promotional offer runs through the weekend, positioning exotic destinations as affordable alternatives to traditional European beach holidays for Slovak travelers.

Aktuality
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Economy

Hungarian Oligarch Close to Viktor Orbán Secures Business Operations in Slovakia

A previously obscure Slovak company called Torreol has experienced dramatic growth in revenues and profits, with backing from influential Slovak business figures who have now been joined by the CEO of Hungarian oil giant MOL. The MOL chief executive, who maintains close ties to Hungarian Prime Minister Viktor Orbán, has established business interests in Slovakia through this partnership with some of the country's wealthiest entrepreneurs. The company's rapid financial transformation from a low-profile entity to a high-performing business venture reflects the expanding cross-border business networks between Slovakia's economic elite and Hungary's politically connected oligarchs.

Aktuality
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Economy

Rail Expert Urges Slovaks to Reconsider Train Travel as Alternative to High Fuel Costs

A Slovak transport expert is encouraging citizens to give railways another chance as fuel prices continue to strain household budgets. Rastislav Farkaš, a railway transport specialist, argues that Slovakia's rail network has undergone significant improvements that many passengers may not have noticed. According to Farkaš, train delays have decreased substantially and several problematic rail sections that previously slowed travel have been repaired. He suggests that the current reality of Slovak rail transport may be better than public perception indicates, making trains a viable alternative to expensive car travel during the ongoing fuel price crisis.

Dennik N
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Economy

Aviation Industry Faces Flight Cancellations and Rising Costs Due to High Fuel Prices

Thousands of flights are being cancelled as airlines struggle with mounting operational costs, with expensive fuel representing just the tip of the iceberg according to industry analysis. Aviation expert Daniel Ferjanček explains that high fuel prices cannot be fully passed on to passengers through ticket pricing, creating pressure on airline operations. The situation indicates that ticket prices will inevitably increase as airlines attempt to balance rising operational expenses with market demand, though the full impact of fuel costs cannot be directly transferred to consumers.

SME
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Economy

S&P 500 Stock Index Reaches New Record High Despite Middle East Tensions

The S&P 500 stock index achieved a new all-time high as American equity markets continued their upward trajectory. Despite the milestone, ongoing conflict in the Middle East continues to constrain broader stock growth in the United States, creating headwinds for investors amid geopolitical uncertainty.

SME
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Economy

Polish Fashion Retailer Plans Slovak Market Entry as Physical Stores Remain Key to Success

Another major Polish clothing retailer is preparing to enter the Slovak market, intensifying competition for customers in the country's fashion sector. The expansion reflects a broader trend where companies are finding that online sales alone are insufficient for sustained growth. Physical stores in shopping centers, where large numbers of consumers gather, continue to provide the stability and customer reach that many retailers require to succeed in the market.

Aktuality
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Economy

Half of New Apartments in Bratislava Sold to Property Investors

Every second apartment in newly constructed buildings in Bratislava is being purchased by property investors rather than people buying homes to live in. The typical real estate investor is between 35 and 55 years old. This trend highlights the significant role of investment purchasing in Bratislava's housing market, where investors are acquiring substantial portions of new residential developments. The pattern suggests that much of the capital's new housing stock is being directed toward rental or speculative investment rather than owner-occupied housing, potentially affecting housing availability and affordability for residents seeking to purchase homes for personal use.

SME
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Economy

Major Office Development Projects Concentrate in Bratislava

Slovakia's largest office construction projects are being concentrated in the capital city of Bratislava, according to new development data. The construction activity reflects the continued dominance of the capital as the country's primary business and commercial hub, where international companies and major Slovak firms establish their headquarters and regional operations.

SME
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Economy

Food Price Surge Recalls 2022 Crisis as Southeast Asia Faces Major Challenges

Global food prices are experiencing significant increases, raising concerns about a return to the crisis conditions of 2022 when food costs surged by nearly 30 percent. Southeast Asia is facing the most severe challenges from the current price volatility. The 2022 food price crisis was triggered by multiple factors including the war in Ukraine, supply chain disruptions, and energy costs, which combined to create one of the worst food inflation periods in recent decades. The current situation suggests that similar pressures may be building again, with developing regions particularly vulnerable to food security risks.

SME
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Economy

Slovak Companies Lose Thousands to New 'SMS Pumping' Fraud Scheme

Slovak companies have lost thousands of euros to a new type of fraud called "SMS Pumping," according to warnings issued by the National Security Bureau (NBÚ), Slovakia's cybersecurity agency. The scheme targets businesses through fraudulent SMS-related activities that drain company funds. Recovery of stolen funds proves extremely difficult for affected companies, as the money is typically transferred to foreign bank accounts and disguised as legitimate transactions. The NBÚ's warning highlights the growing sophistication of cyber fraud targeting Slovak businesses and the challenges companies face in protecting themselves from emerging digital threats.

Aktuality
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Economy

Eurozone Private Sector Activity Drops in April Due to Middle East Conflict

Private sector activity in the eurozone declined in April as the ongoing war in the Middle East impacted economic performance across the currency bloc. The services sector experienced its steepest decline in more than five years during the month. The eurozone, which consists of 20 European Union countries that use the euro as their common currency, saw businesses across multiple sectors affected by the geopolitical tensions and economic uncertainties stemming from the Middle East conflict.

SME
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Economy

Metro Brings Spanish Summer Flavors to Slovak Gastronomy

German retail chain Metro is introducing Spanish-inspired culinary offerings to the Slovak market as part of its summer promotion. The company is positioning Spanish cuisine as a key trend for the summer season, bringing Mediterranean flavors and cooking styles to Slovak restaurants and food service establishments. Metro operates wholesale stores in Slovakia that primarily serve restaurants, hotels, and other food service businesses, making it a significant influence on local dining trends.

TASR/Teraz
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