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Last refreshed: 06/06/2026 05:37 · 25 articles added
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Economy

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Economy

Volvo's New Slovak Plant Employs 600 Workers with Above-Average Wages

Volvo's new automotive manufacturing plant in Slovakia has reached 600 employees, according to Deputy Prime Minister Denisa Saková. The Swedish automaker promises average salaries exceeding 1,400 euros, which surpasses the regional average wage in the area where the facility operates. The plant represents a significant investment in Slovakia's automotive sector, which has become a cornerstone of the country's economy alongside existing operations by Volkswagen, Kia, and Jaguar Land Rover.

SME
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Economy

Slovakia Cannot Afford Six More Months of Transaction Tax, Employers Warn

Slovak employers' organizations have warned that the country cannot afford to continue its transaction tax for another six months. The employers cited negative consequences of the tax policy, pointing to collection results as evidence of its harmful effects. The transaction tax, which applies to financial transactions, has been a contentious policy measure in Slovakia. Employers argue that the tax is damaging the business environment and economic competitiveness, with the revenue collection data supporting their concerns about its negative impact on the economy.

SME
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Economy

Gold Prices Decline Slightly as Investors Monitor US-Iran Tensions

Gold prices dropped modestly, trading around $4,493 per troy ounce as investors closely watched escalating tensions between the United States and Iran. The precious metal's movement reflects market uncertainty as geopolitical developments between the two nations continue to influence commodity trading patterns.

SME
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Economy

Hyundai Introduces Price Reductions for Fourth-Generation Tucson as Production Nears End

Hyundai has introduced significant temporary price reductions for its fourth-generation Tucson SUV as the model approaches the end of its production cycle. The automotive manufacturer will cease production of the current Tucson generation in October 2024, following an established industry pattern where car makers offer incentives during a model's final phase. The pricing strategy aligns with automotive industry wisdom that suggests vehicles reach their optimal refinement at the end of their lifecycle, making this an opportune time for consumers seeking a well-developed SUV model before it transitions to the next generation.

Aktuality
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Economy

Employers Say Slovak Government 'Lives on Another Planet' as Tax Increase Proposals Continue

Slovak business representatives have criticized the government for failing to deliver on promises to support economic growth, saying they have seen no concrete measures despite official claims that tax increases are finished. The employers' complaint comes as the ruling coalition prepares to approve its first economic package during the current parliamentary session, which is the last before summer recess. However, businesses are instead seeing new tax proposals, including a plan by the Slovak National Party (SNS) that would allow municipalities to increase property taxes. The criticism highlights growing tension between the government's stated commitment to economic growth and the actual policies being advanced by coalition parties in Slovakia's parliament.

Dennik N
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Economy

Battery Factory Job Listing Reveals Below-Average Wages Despite Investment Promises

A major battery manufacturing investment in Šurany has sparked controversy after the company's first job posting revealed wages that contradict earlier promises of above-average salaries. GIB EnergyX Slovakia advertised a production operator position with a basic salary that immediately drew criticism and raised questions about whether the foreign investor is delivering on its commitment to bring well-paying jobs to the region. The wage offer has generated doubts about whether the facility will provide the lucrative employment opportunities initially promised to the Slovak labor market.

Aktuality
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Economy

Japan Falls Behind China in Global Creditor Rankings as Germany Maintains Top Position

Japan dropped below China in international creditor rankings, while Germany retained its position as the world's largest creditor nation. Both Germany and China strengthened their net foreign assets last year, contributing to the shift in global financial standings. The ranking reflects countries' net international investment positions, measuring the difference between foreign assets held by a nation's residents and domestic assets owned by foreigners.

SME
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Economy

Domino's Pizza to Close All Outlets in Austria After Nearly a Decade

Domino's Pizza will shut down all its outlets in Austria after operating in the country for nearly ten years. The American pizza chain had previously announced expansion plans for the Austrian market, but will instead close all its locations there. The closure marks the end of Domino's presence in Austria, where it had established a foothold in the Central European market alongside its operations in neighboring countries.

SME
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Economy

Major Tech Companies Plan Record IPOs That Will Impact Slovak Investors

SpaceX, OpenAI, and Anthropic are preparing record-breaking initial public offerings that will give ordinary Slovak investors access to shares through exchange-traded funds. All three companies are currently losing billions of dollars but require massive capital injections to continue their development work. The largest artificial intelligence developers need such enormous sums for AI advancement that even hundreds of billions from private investors are no longer sufficient. The planned stock market debuts will allow these technology giants to tap into public markets for the capital needed to fund their ambitious projects, while simultaneously providing Slovak retail investors with indirect exposure to these high-profile companies through ETF investments available on local markets.

Dennik N
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Economy

Tokaj Wine Region Introduces Mirror Accommodation with Renewable Energy Support

A project supported by regional authorities has introduced mirror-clad accommodation facilities in the Tokaj wine region. The accommodation units feature the use of renewable energy sources as a key benefit. The initiative represents an effort to develop sustainable tourism infrastructure in Slovakia's historic wine-growing region, which is known for its UNESCO World Heritage vineyard landscape and traditional sweet wine production.

Korzár
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Economy

Slovakian Government Ministries Pursue Contradictory Investment Strategies in Trebišov

Two Slovak government ministries are taking opposing approaches to public investment in the town of Trebišov, with one ministry investing in state-owned assets while another pays private contractors for similar services. The arrangement has been criticized as speculative management rather than efficient use of public funds. Trebišov, located in eastern Slovakia near the Hungarian border, serves as the administrative center of the Trebišov District. The contrasting approaches highlight broader questions about coordination between government departments and the optimal use of taxpayer money in public infrastructure and services.

Korzár
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Economy

Rail modernization between Poprad and Vydrník advances with tunnel breakthrough

Construction crews have successfully broken through a 711-meter tunnel as part of the railway modernization project between Poprad and Vydrník in northern Slovakia. The project aims to increase train speeds on this section of track. Transport Minister Jozef Ráž expressed optimism about the contractor meeting project milestones and having the first train pass through the tunnel according to the planned schedule. The modernization represents part of Slovakia's broader infrastructure upgrade efforts to improve rail connectivity in the mountainous region near the High Tatras.

TASR/TerazKorzár
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Economy

British Oil Giant BP Removes Chairman of Slovak Subsidiary Manifold

British oil giant BP has removed the chairman of the board at Manifold, its Slovak subsidiary, citing unspecified governance issues as the reason for the decision. BP provided no detailed explanation for the leadership change at the company, which operates in Slovakia's energy sector. The move represents a significant corporate restructuring within BP's Central European operations, though the specific nature of the governance problems that led to the chairman's removal remains unclear.

SME
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Economy

Slovakia's Second Round of Energy Subsidies Delayed but Expanded to Cover More Households

Slovakia has launched the second round of its energy assistance program, with subsidies arriving later than originally planned but offering higher amounts and broader coverage. The energy vouchers, known as "energošeky," will reach more households this time around as the government expands eligibility criteria. While the payments have experienced delays, officials indicate the increased support amounts will provide greater relief to families struggling with energy costs. The program represents Slovakia's ongoing effort to help citizens cope with elevated energy prices that have affected household budgets across the country.

SME
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Economy

Temu becomes fastest-growing online advertiser in Slovakia amid concerns over toxic products and gamification tactics

Chinese e-commerce platform Temu has emerged as Slovakia's fastest-growing online advertiser, capturing significant market share in the country's digital retail space. The platform, owned by PDD Holdings, has gained popularity among Slovak consumers through aggressive marketing strategies and deeply discounted products. However, the rapid expansion has raised concerns about the company's business practices, particularly its use of gamification techniques that encourage compulsive shopping behaviors and its role in importing potentially harmful products into European markets. Critics warn that Temu's app design incorporates gaming elements that can lead to addictive purchasing patterns, while questions persist about product safety standards for goods shipped from China to Slovakia and other EU countries.

SME
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Economy

Slovakia sees emergence of new type of debtor amid inflation pressures

A new category of debtor has emerged in Slovakia under the influence of inflation - individuals who are formally in good standing but economically on the edge of financial collapse. These debtors are increasingly giving up on paying bills, creating significant challenges for businesses across multiple sectors. According to experts, this phenomenon is fundamentally changing the landscape for banks, telecommunications operators, energy companies, rental housing providers, and the state itself. The trend represents a shift where people who previously maintained good credit records are now strategically defaulting on payments as economic pressures mount, forcing companies to adapt their collection and risk assessment strategies.

Aktuality
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Economy

Ryanair to Launch New Turin Route from Bratislava Airport This Autumn

Ryanair will introduce a new flight route connecting Bratislava with Turin, Italy, beginning this autumn. The Irish budget airline will add a fourth aircraft to its Bratislava operations to support the expanded service. The new Turin connection will bring Ryanair's total number of routes from Slovakia's capital to 23 destinations, representing the airline's largest winter schedule from Bratislava Airport. The expansion demonstrates Ryanair's growing commitment to the Slovak market, as the carrier continues to build its presence at the country's main international gateway.

SMETASR/Teraz
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Economy

German Chamber of Commerce Downgrades Economic Growth Forecast

The German Chamber of Industry and Commerce (DIHK) has revised its economic growth projections downward amid deteriorating business sentiment across the country. The business mood throughout Germany has sharply worsened in recent months, according to the chamber. Germany, as Europe's largest economy and a major trading partner for Slovakia and other Central European nations, plays a crucial role in regional economic stability, making its economic performance closely watched by neighboring countries and international markets.

TASR/Teraz
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Economy

Slovak Government to Meet in Haniska as Volvo Investment Transforms Three Districts

The Slovak government will hold a meeting in Haniska as major industrial investments, including those from automotive manufacturer Volvo, are set to transform three districts in the region. The multi-million euro investments are expected to boost both industrial development and tourism in the affected areas. The government session in Haniska, a municipality in eastern Slovakia near Košice, signals the significance of the economic developments taking place in the region.

Korzár
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Economy

Employers oppose SNS proposal to remove property tax caps for businesses

Slovak employers are strongly opposing a proposal from the Slovak National Party (SNS) that would eliminate upper limits on property taxes for commercial real estate. The Republic Union of Employers (RÚZ) has rejected the plan, warning it could negatively impact thousands of businesses across Slovakia by giving local governments unlimited authority to set tax rates on corporate properties. The employers' organization argues that removing the current tax rate ceiling may violate constitutional principles. The SNS, a nationalist party that is part of Slovakia's ruling coalition, has proposed the measure as part of broader fiscal policy changes that would significantly expand municipal governments' taxation powers over business properties.

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