Germany's largest publicly traded companies saw their revenues fall by 0.6% in 2024, according to a new study by consulting firm EY. The decline accelerated in the fourth quarter, with revenues dropping 3.3% compared to the same period in the previous year. The data reflects the challenges facing major German corporations amid broader economic headwinds affecting Europe's largest economy.
Slovak restaurant group Medusa exceeded 63 million euros in revenue last year, marking an 11 percent increase compared to the previous year. The company operates multiple restaurant chains and food service establishments across Slovakia, representing one of the country's largest hospitality businesses. The revenue growth reflects continued expansion in Slovakia's restaurant and food service sector despite broader economic challenges.
Slovak businesses are struggling with a shortage of workers who possess critical thinking skills and artificial intelligence literacy, according to industry assessments. These capabilities are considered essential for maintaining competitiveness in the modern economy. The skills gap reflects broader challenges facing Slovak companies as they adapt to technological changes and digital transformation requirements in an increasingly AI-driven business environment.
Poland registered nearly five percent more new companies than in the previous year, demonstrating the country's growing appeal to foreign entrepreneurs looking to establish businesses. The increase in company registrations signals Poland's strengthening position as an attractive destination for international business investment and startup activity.
Slovakia has the potential to structure its energy portfolio around nuclear power sources, according to energy experts. However, nuclear energy faces significant challenges due to high initial investment costs required for construction and development. The assessment comes as European nations reassess their energy strategies following recent geopolitical developments and climate commitments. Slovakia currently operates nuclear facilities and has been evaluating options for expanding its nuclear capacity as part of its long-term energy security planning.
Central Europe is experiencing a notable shift in online shopping patterns as the region's demographic crisis reduces demand for baby products. E-commerce retailers across the region are reporting decreased sales of baby strollers and other newborn items, reflecting the broader trend of declining birth rates that has affected countries throughout Central Europe. This demographic transformation is forcing online retailers to adapt their product offerings and marketing strategies as traditional family-oriented consumer categories shrink, highlighting how population trends are directly impacting regional commerce patterns.
Slovak energy officials have challenged common misconceptions about nuclear power costs, stating that nuclear energy can provide adequate electricity supply at reasonable prices. They specifically addressed what they called a myth that nuclear sources are significantly more expensive than renewable energy sources. The statement comes as Slovakia continues to rely heavily on nuclear power for its electricity generation, with nuclear plants providing a substantial portion of the country's energy needs. Slovakia operates two nuclear power plants and has been defending nuclear energy as a viable alternative to renewable sources amid ongoing European energy policy debates.
Slovak car buyers face increasing risks from sophisticated fraud schemes involving imported vehicles, according to automotive fraud experts. Cars crossing international borders often experience mysterious reductions in their odometer readings, creating false impressions of lower mileage for unsuspecting buyers. Vlastimil Frič from Czech automotive verification company Cebie warns that these practices have become widespread in the regional car import market. The fraud schemes extend beyond odometer manipulation, with some buyers discovering their newly purchased vehicles can be seized due to outstanding debts tied to previous owners. Slovak online car listing portals have begun implementing Cebie's vehicle verification technology to help combat these fraudulent practices and protect consumers from purchasing problematic imported vehicles.
A defense company associated with a Slovak official has experienced a significant financial decline, according to recent reports. The firm's troubles have been attributed in part to outdated investment rules that have negatively impacted its operations. The development raises broader questions about the state of Slovakia's defense industry sector, which has faced various challenges in recent years as companies navigate changing market conditions and regulatory environments.
European stock markets experienced sharp declines as investors reacted to escalating military conflict in Iran. The widespread sell-off across European equity markets reflected growing investor anxiety about the potential economic and geopolitical implications of the Iranian war situation. Market volatility increased as traders assessed the potential impact on global supply chains, energy prices, and regional stability.
Slovakia's Financial Administration has launched mobile tax offices to help citizens file their tax returns as the March 31 deadline approaches. The tax authority is also introducing a drive-through filing service in Košice, the country's second-largest city, to make the process more accessible. These new services are designed to ease the burden on traditional tax offices and provide additional options for taxpayers who need to submit their annual declarations. Slovak citizens and residents are required to file their income tax returns by March 31 each year, covering earnings from the previous calendar year.
Guesthouses in an eastern Slovak valley are desperately waiting for tourists to provide economic relief. The region is pinning its hopes on establishing a museum as a potential lifeline to attract visitors to the struggling area. Local authorities are fighting to secure their own institutions as part of efforts to revive the tourism-dependent economy in the valley.
Tourist accommodations in a struggling Slovak valley are desperately waiting for visitors to return, viewing tourism as their economic salvation. The region is pinning its hopes on a planned museum project, which local authorities believe could serve as a crucial lifeline for the economically distressed area. The valley's tourism industry has been severely impacted, leaving guesthouses and lodges with few customers and forcing the community to seek new attractions to draw visitors back to the region.
Slovakia's Labor Ministry announced plans to modify the recently introduced micro-contribution system by exempting small business owners and self-employed individuals who earn less than 2,876.90 euros annually. Labor Minister Erik Tomáš said the change would affect approximately 30,000 small entrepreneurs and self-employed persons who would no longer be required to pay the new micro-contribution. The proposal is expected to be debated by lawmakers during parliament's April session. The micro-contribution system was introduced as part of Slovakia's broader tax and social insurance reforms, requiring self-employed individuals to make minimum contributions to the social security system regardless of their actual income levels. However, the new threshold would not benefit authors and other creative professionals whose income is subject to a 19 percent withholding tax, as they fall under different tax regulations.
Slovakia's railway infrastructure company ŽSR announced plans to build 100 kilometers of upgraded track between Košice and Žilina over the next 10 to 12 years, which would reduce travel time by 18 minutes. The announcement comes as the country addresses a massive railway investment backlog of 930 million euros that accumulated over years when authorities chose to reduce train speeds rather than repair problematic sections of track. For years, this approach forced trains traveling between Bratislava and Košice to slow to just 10 kilometers per hour in some areas instead of receiving proper maintenance and repairs. The investment debt has been reduced by approximately 70 million euros in recent years as the government allocated more funding to previously postponed railway projects, allowing some speed restrictions to be lifted.
Slovakia is losing its most talented students to other countries, creating a critical threat to the nation's future economic growth that could prove more damaging than current fiscal problems, according to economist Róbert Chovanculiak from INESS, a Bratislava-based economic think tank. While Slovakia already struggles with high budget deficits and poor public finances, Chovanculiak warns that the country has a low proportion of highly skilled students and is losing a significant portion of those it does have to emigration. This brain drain threatens to leave Slovakia with too few people capable of driving future innovation and economic development, presenting a challenge that will be extremely difficult to address and could undermine the country's long-term competitiveness.
Slovak media has examined unusual tax policies from around the world as the country debates implementing a transaction tax. The review includes examples such as taxes on vacant apartments and taxes on fictional income, highlighting the diverse approaches governments take to revenue generation. The analysis comes as Slovakia weighs whether to introduce its own transaction tax, with some critics labeling such measures as global absurdities while others point to their practical implementation in various countries.
A Bratislava-based shoe and clothing retailer called Shooos fell victim to a sophisticated email fraud that cost the company exactly 20,000 euros. In December 2025, employees at the company were communicating with what they believed was their supplier Birkenstock, but the emails were actually coming from a fraudster using the domain "birkenstork.com" instead of the legitimate "birkenstock.com." The scam succeeded because of this single letter difference that went unnoticed by company staff. This case follows another recent telephone fraud in Slovakia where a victim lost 25,000 euros during a six-hour scam call, highlighting the growing sophistication of fraud schemes targeting Slovak businesses and individuals.
Slovak businessman Spuchliak, who has rapidly expanded his investments by purchasing a major Czech real estate fund and launching three new investment funds, previously operated with a business partner from Russia's Chechnya region. The Russian partner owned half of Spuchliak's Vosem Group until recently, though Spuchliak claims they ended their cooperation nearly two years ago and the partner no longer manages the company. The Chechen businessman has since taken control of another firm that previously included Peter Hrkotáč as a partner, a figure connected to the Bonaparte tax scandal. The Bonaparte case involved allegations of tax fraud and money laundering schemes that emerged in Slovak investigations several years ago, highlighting concerns about business networks and their connections to controversial figures.
Coalition lawmakers have submitted a proposal to eliminate all social security contributions for self-employed individuals with the lowest incomes, including the existing micro-contribution. Under the current system, self-employed people earning less than approximately 2,900 euros annually are subject to these payments. The new proposal would introduce an exemption threshold that would automatically increase each year. The measure is expected to cost the state budget 21 million euros this year, as the changes would take effect from mid-year. Slovakia's self-employed sector includes hundreds of thousands of individuals operating small businesses, from freelancers to independent contractors, who currently must pay social insurance contributions regardless of their income level. The proposal represents part of broader efforts by the ruling coalition to reduce the tax burden on low-income earners in the country's business sector.