J&T overtakes Penta
A few old industrial enterprises are still in the hands of Slovaks, and automobile manufacturers remain the country's leading exporters. Moreover, two domestic financial groups are continuing in their efforts to strengthen their positions at home and abroad. Penta Investments, whose holdings are estimated at 300 million euros or 10,2 billion crowns, and J&T, whose 430 million euros surpasses Penta, are the biggest players on the Slovak business scene.
The Financial Times daily has outlined their road to their present power in Slovakia, although both are also active in the Czech Republic, where they hold about 60% of their resources. The former Communist eastern European countries seem to be the next target, with the J&T group planning to purchase a Russian bank and looking to enter the hotel and real estate markets in that country. On the other hand, the FT daily quotes Penta partner Jaroslav Haščák as believing that their group must specialize in order to increase its competitiveness. Feburary 20
PENTA VS. J&T (SKK bn, aso for december 2005)
J&T Penta
Asset value 76,7 30,1
Net assets 10,3 10,2
SMK supports deputy
SMK MP László Nagy, whose voice has turned up on tapped telephone calls involving the corruption scandal around former Košíce mayor, SDKÚ's Eugen Čuňo, has received the backing of his party. "He is appearing in the whole matter as a witness. SMK so far has no reason to act," declared SMK leader Béla Bugár after yesterday's meeting of the party executive.
"Tomorrow there will be very bad weather in Bratislava, and so I won't be able to meet our friend," Nagy is recorded as telling one of the accused. The deputy insists that he is innocent. "I was informed that my telephone was bugged, and they are trying to discredit my character," is Nagy's explanation of the strange conversation.
According to the crown witness in the affair, Maroš Marjavý, Nagy was to receive several million crowns in bribes in return for arranging grants from the Ministry of Construction, which was at the time controlled by SMK. Nagy denies this, while the police have yet to confirm his direct involvement in the affair. Feburary 20 (FOTO)
Kaddafí may replace Putin's oil
Libyan gas and oil could be an alternative if there again arise problems with supplies from Russia. This is to be one of the subjects discussed when Premier Robert Fico and Economy Minister Ľubomír Jahnátek meet Libyan leader Muammar Kadaffí on Wednesday and Thursday in Tripoli. Thirty years ago Libya was a source for Slovakia's oil needs, and therefore Slovnaft head Oszkár Világi is also attending the meeting to discuss joint projects involving North African oil.
While there should be no problems concerning the import of oil, gas company representatives are less enthusiastic. "Theoretically, supplying Slovakia with Libyan gas could be considered, but it seems that this could never be a replacement for even a part of Russian supplies," commented Miloš Pavlík from the SPP -- Preprava company. February 19
Constitutional Court judge stands up for Sokol
A group of citizens engaged in social life has cited the defence of free speech in relation to the statements by Archbishop Ján Sokol on Slovakia's prosperity under its wartime state. "It was with unease that we have noticed media and group attacks which have criminalized a Slovak citizen for stating an opinion based on personal experience. In a democratic society in which constitutionally guaranteed freedom of expression applies, such intolerant attacks are impermissible and contentious," future SR Constitutional Court judge Peter Brňák, professors and physicians Štefan Hrušovský, Peter Mĺkvy, Juraj Májek and Karol Hornáček, film critic Martin Hrivnák and dozens of other citizens wrote in their declaration. Sokol on the TA3 television station described the prosperity enjoyed during the totalitarian Slovak State, and spoke in terms of praise of its president, Jozef Tiso.
February 16