Slovakia

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

Visegrad Countries Encourage Western Balkans to Join EU

Representatives from Poland, the Czech Republic, Slovakia and Hungary support the EU accession of Western Balkan countries.

October 31, 2013

Slovakia: Economic Sentiment Up Slightly

According to the results published by the Slovak Statistical Office, the economic sentiment indicator indicates a moderate economic upward trend.

October 29, 2013

CESEE: Poland is Most Business-Friendly

According to the latest “Doing Business” report published by the World Bank, Poland is the most business-friendly country in the CESEE region.

October 29, 2013

Czech Republic: Social Democrats to Win

Tomorrow, the Czech Republic will hold early elections. All polls are indicating a clear change in power. Bohuslav Sobotka is expected to become the next head of government.

October 25, 2013

Public Debt: CESEE Countries Below EU Average

At the end of the first half of 2013, the EU public debt quota reached 86.8% of GDP. Western Europe´s public debt level is significantly higher than in Eastern Europe.

October 23, 2013

Slovakia: New Burden for Insurance Industry

The Slovak government extends special taxes for companies operating regulated sectors. The bank tax will be abolished in the course of the next years.

October 21, 2013

IMF Warns of Financial Instability in CESEE

Due to the high non-performing loan quota and the deleveraging of Western banks, the countries of Central, Eastern and Southeastern Europe are still far from financial stability.

October 18, 2013

„Czech Republic Does Not Fully Use Its Potential“

Czech Prime Minister Jiri Rusnok thinks that the performance of the Czech economy is not dramatically bad. However, the Czech Republic must use its opportunities more effectively.

October 17, 2013
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