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Slovakia


Slovakia: Kiska Won Against Fico

Prime Minister Robert Fico has received a heavy defeat. For the first time in Slovakia´s history, an independent candidate becomes President.
March 30, 2014


Conwert to Withdraw from CESEE

The Vienna-listed real estate group wants to sell its assets in Central, Eastern and Southeastern Europe. The sales proceeds are expected to reach up to € 200m.
March 29, 2014


Low Inflation Still No Threat to CEE

Currencies in CEE should not be affected by low inflation, according to Erste Group.
March 19, 2014


Slovakia: Fico Gains Narrow Win in First Election Round

A runoff between Slovak Prime Minister Robert Fico and independent billionair Andrei Kiska has got to be held now. In the first round of elections Fico only had a head start of four percent.
March 17, 2014


Slovakia: PM Fico Regarded Winner of Presidential Elections

As reported by Slovakian media, the presidential elections started off peacefully and without any disturbances. Prime Minister Fico is considered the clear winner of the elections.
March 15, 2014


CEE: Investments to Boost Economic Growth

In the coming two years economic growth in Eastern Europe is expected to accelerate to an average of two to three percent of GDP triggered by a boost in investments.
March 13, 2014


CEE Countries Condemn Russian Intervention in Ukraine

Foreign Ministers of the Visegrad countries (Poland, Czech Republic, Slovakia and Hungary) want to strengthen the EU defense policy. Poland intensifies its military cooperation with the U.S.
March 8, 2014


Poland: Banks Expected to Preserve Ratings

According to US rating agency Standard&Poor;’s, Polish banks will be able to keep their credit ratings this year.
March 4, 2014


Fitch Keeps Slovak Rating Unchanged

Slovakia´s issuer default rating was kept unchanged at “A+”. The outlooks remain stable.
March 1, 2014


Erste: CEE Financial Market Not Concerned by Low Inflation

Low inflation will not change CEE market forecasts, according to Erste Group.
February 18, 2014


Vienna Insurance Group Expands Market Leadership in Slovakia

The Group expands its position as the number one in the core market Slovakia. Strong growth above market average. Increase in premiums in all lines of business.
February 17, 2014


Slovakia: Vote of No Confidence against PM Failed

The vote of no confidence against Prime Minister Robert Fico failed in parliament.
February 14, 2014


CEE: Still Growth Market in Real Estate Sector

The region is still a growth market in the real estate sector even after the crisis. However, the legal situation in some CEE countries can be a pitfall to real estate companies.
February 10, 2014


“Fragile Recovery in CEE Banking Sector”

According to the U.S. rating agency Fitch, the banking sector in Central and Eastern Europe is highly heterogeneous.
February 6, 2014


CESEE: Stuck in Transition or Just a Break?

Despite all difficulties in Central, Eastern and Southeastern Europe, the region remains essential for Austria. The long-term growth potential remains intact.
February 6, 2014 · Updated: February 6, 2014; 13:41


CESEE: Corruption Is Still a Major Obstacle

The European Commission has published its first Anti-Corruption Report today. Above all, the economies in Southern and Southeastern Europe are suffering from corruption.
February 3, 2014


„We Must Watch CESEE Very Carefully“

In an interview with the Austrian daily „Standard“, board member of Österreichische Kontrollbank AG Angelika Sommer-Hemetsberger said that the economic crisis in CESEE is not over yet.
February 3, 2014


CESEE: Overtaking Western Europe Not Before 2055

According to the European Bank for Reconstruction and Development, the transition period of Central, Eastern and Southeastern Europe will take longer than initially expected.
January 29, 2014


Austria: Sberbank Affected By Further Costs

Sberbank is faced with further aids for Austrian Volksbank International (VBI). So far the Russian bank has pumped a total of € 1.3bn into Sberbank Europe.
January 27, 2014


Kotian: “Growth in CEE is Accelerating“

In an interview with Austrian daily “Wirtschafts-Blatt”, CEE expert at Erste Group, Juraj Kotian, points out that the bond market is expected to see growth supported by the successful reduction of debts and high economic growth.
January 20, 2014


CESEE: Massive Increase in Real Estate Investments

In Central, Eastern and Southeastern Europe, the total volume of real estate transactions totaled € 10.bn last year. Most transactions were recorded in Russia and Poland.
January 15, 2014


RBI Expects Growth to Accelerate in 2014

2014 marked by growth recovery, according to RBI Research.
January 9, 2014


Growing Evidence for RBI’s Withdrawal from Hungary

According to media reports, Hungarian partly nationalized Szechenyi Commercial Bank has placed an offer for the take-over of RBI’s Hungarian affiliate.
January 7, 2014


Romania: Slight Increase in FX Reserves

In December 2013 FX reserves increased slightly compared to the previous month.
January 7, 2014


Southeastern Europe Endangered of Civil Unrests

According to the Economist Intelligence Unit, several CESEE countries may face civil unrests in 2014. In particular, Southeastern Europe is in the danger zone.
January 4, 2014


CEE: Economic Sentiment Cautiously Optimistic

The economic sentiment for Eastern European countries is becoming more optimistic, however, only cautiously. Poland is on top of the list of economists at JP Morgan.
January 2, 2014


Slovakia: Date for Presidential Election Fixed

The first round for the presidential elections in Slovakia will take place on March 15, 2014.
December 23, 2013


CESEE: Dependence on Foreign Demand Remains Main Obstacle

In 2014, Central, Eastern and Southeastern Europe (CESEE) faces a slight upward trend. The structural difficulties persist, however.
December 21, 2013


Stable Outlook for CESEE Banking Industry

According to the U.S. rating agency fitch, the sector outlook remains stable in Central, Eastern and Southeastern Europe. However, the well-known risks and weaknesses will persist.
December 19, 2013


Slovak Prime Minister Confirms Presidental Candidacy

Slovak Prime Minister Robert Fico, who also serves as head of ruling left-winged Smer Party, announced his candidacy for the presidential office next year.
December 18, 2013


Hungary: Stable Outlook Yet Still Junk Status

In spite of Matolcsy, governor of the Hungarian National Bank (MNB), demanding a better rating for the country’s credibility, the major rating agencies have not raised them.
December 12, 2013


Austrian Banking Industry Depends on Russia and Czech Republic

For the Austrian banking sector, the CESEE region is highly heterogeneous. In the first six months of 2013, net earnings totaled € 1.4bn in the region.
December 12, 2013


Ten Capital Market Themes for 2014 by Raiffeisenbank

Leading indicators show a recovery of global growth.
December 11, 2013


Slovakia Reverts Fiscal Strategy

The Slovak parliament has approved the government-authored corporate tax rate cut from 23% to 22%. Further cuts are expected to come.
December 10, 2013


EU/CESEE: Real Income Shrinks

In 2013, the real income will do down in Austria. Since 2010, the Austrian real income was down by 1.3%. In Hungary, real income fell by 15% in that period.
December 9, 2013


Slovakia: Economy Accelerates Slightly

In the third quarter of 2013, the Slovak GDP year-on-year growth was up to 0.9%, according to the Slovak Statistical Office.
December 8, 2013


UniCredit Bank Ukraine and Ukrsotsbank to be Merged

CEE Division completes additional steps in business refocusing.
December 3, 2013


CESEE: Slight Growth Acceleration, but Uncertainties Persist

The Vienna Institute for International Economic Studies (wiiw) has published the economic forecast for the CESEE region today. The economic performance varies substantially from country to country.
November 28, 2013


CESEE: Austrian Banks Face New Challenges

For Austrian banks, the assessment by the ECB may bring new difficulties. Non-performing loans in CESEE are said to be higher than officially known.
November 26, 2013


WKO: Better Framework Conditions for SMEs

Small and medium sized enterprises (SMEs), with between 10 to 249 persons employed, are a driver of the European economy, creating jobs and contributing to economic growth. WKO calls for better framework conditions for SMEs.
November 26, 2013


Slovakia Benefits Substantially from EU

In the next fiscal term from 2014 to 2020, Slovakia will receive net contributions of € 14bn. Without the EU contributions, Slovakia´s fiscal situation would be difficult.
November 23, 2013


Slovak Real Estate Market: Office Segment Weakens

In the third quarter of 2013, transactions in the office market were down substantially.
November 20, 2013


Austria: High Tax Country

According to the new tax report of PrinceWaterhouseCoopers (PwC), the tax burden in Austria is ten percent higher than the average tax rate in the European Union and even beats Sweden.
November 19, 2013


Slovakia: Weak Credit Demand

Due to the lack of credit demand, lending is below its potential. Foreign banks in Slovakia are relatively independent from their parents.
November 9, 2013


Slovakia: Property Prices on the Fall

The Slovak property market continues the downward trend. In late summer, property prices have reached a five-year low.
November 8, 2013


Unequal Retail Real Estate Investment Activity in CESEE

While investments in retail real estate in Bulgaria see an upturn, those in Romania have dropped immensely by more than 50 percent.
November 8, 2013


Banking Sector Reduces Lending

Instead of offering loans to the corporate sector, banks tend to invest in sovereign bonds. The CESEE region is particularly affected by this.
November 6, 2013


Slovakia Imposes Tax on Tax Evasion

In order to reduce the capital outflow, Slovakia imposes a 35% tax rate on transactions to tax havens.
November 4, 2013


Slovakia: Exports Are Key Driver for Growth

Last year, Slovak exports were up by 9.4%. The main export products are automotive products and electronics. Germany is Slovakia´s main trade partner.
November 1, 2013


Slovak Banking Industry Records Growing Net Income

In the first nine months of 2013, Slovakia´s banking sector recorded a total net profit of € 449m.
November 1, 2013