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03.04.2020

To prevent firms from laying off workers, the European Commission proposed that all EU countries adopt a German scheme under which employers cut working hours, not jobs, and the government pays for the difference in salaries. It also wants to help co...

03.04.2020

PM Igor Matovič (OĽaNO) is still advocating ever tighter safety measures to fight the pandemic and deems any loosening up to be an act of folly. He says it is now 100% sure schools won’t open before September 1. During the upcoming Easter holiday, he...

02.04.2020

PM Igor Matovič has launched a discussion of a potential three-week blackout of the entire country―complete closure of borders as well as all workplaces, plus a total quarantine. Deputy PMs Richard Sulík (SaS) and Veronika Remišová (Za ľudí) oppose t...

02.04.2020

Among the economy sectors in Slovakia, the highest profit margins (after-tax profit over sales) were reported by IT, 8.5%, according to Finstat data. It analyzed companies’ tax returns over the past three years. Legal services, consulting, project de...

01.04.2020

Construction firm Metrostav filed a bankruptcy motion against the company Damian Jasná (Pavol Jakubec and Andrej Kollár) that is building a €35m 5-star resort in Jasná and plans to complete it this year. Metrostav built the resort’s skeleton frame bu...

01.04.2020

Utilities regulator ÚRSO published a list of over 100 renewable producers (mostly photovoltaic power plants) that have lost subsidies since April 2014, some €200m in total. They lost the subsidies because of debts to social insurer SP. The local phot...

31.03.2020

UniCredit raised mortgage interest rates by half a percentage point. Three weeks ago, it cut them to an all-time low of 0.59%. Other banks have not yet raised their official interest rates. Analysts do not expect significant rate hikes for mortgages...

31.03.2020

Retail sales were 14% higher annually in the third week of March, according to data of Nielsen. The growth pace slowed down compared to the second week. Drugstores even posted a 60% surge in sales in the second week in March, before stagnating under...

30.03.2020

The coalition called on companies to avoid layoffs and adopted seven measures to support jobs: the state will reimburse 80% of wages to companies that were ordered to close due to the pandemic; it will provide €180-540 a month to sole traders and SME...

30.03.2020

Banks VÚB, Tatra banka, UniCredit, ČSOB and Prima banka imposed restrictions in lending on corporations and individuals last week and other banks are expected to follow suit. VÚB has extended the deadline for signing loan documents to 90 days and is...

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