News roundup - Friday, 30 August

First set of tax changes confirmed

LJUBLJANA - The government has adopted tax changes that it says will improve competitiveness and create a favourable environment for R&D, legislation which businesses are unsatisfied with. The new legislation will make it more attractive to hire foreign skilled staff and incentivise stock options, but it also brings higher taxes on sugary drinks, higher excise on beer and spirits, and less favourable tax treatment of sole proprietors.

Slovenia's estimated GDP growth last year upgraded to 2.1%

LJUBLJANA - Slovenia's gross domestic product (GDP) increased by 2.1% in real terms last year on an annual basis, shows the latest data by the Statistics Office. After the annual revision of the estimate, the 2023 GDP amounted to EUR 63.951 billion, up by 12.4% in nominal terms and by 2.1% in real terms from the year before.

Annual inflation rate down to 0.9% in August

LJUBLJANA - The Statistics Office reported that the annual inflation rate in Slovenia continues to decrease, dropping to 0.9% in August, in what is the first time since March 2021 that the rate dropped to below 1%. A deflation of 0.2% was recorded on a monthly basis, mostly due to summer sales. Measured with the harmonised index of consumer prices, the annual growth of consumer prices was 1.1%.

Slovenia and Turkey sign strategic partnership agreement

LJUBLJANA - Slovenia and Turkey signed a strategic partnership agreement as Foreign Minister Tanja Fajon received her Turkish counterpart Hakan Fidan to discuss topical global issues. Fajon said that the strategic partnership agreement confirmed the very good relations between Slovenia and Turkey and sets the course for their future development. They stressed both countries will continue to strive for peace in the Middle East.

Committee backs set of recommendations on Roma issues

LJUBLJANA - Following a nine-hour debate, the parliamentary Home Affairs Committee recommend to the government to address Roma issues more effectively, including by beefing up police presence to improve security in the problematic Roma-populated areas. The government was asked to draft in three months systemic measures to change legislation on local government financing. The National Assembly will vote on the recommendations on Thursday.

Slovenia trained over 800 Ukrainian soldiers as part of EU mission

BRUSSELS, Belgium - Slovenian drill instructors have trained around 800 Ukrainian soldiers as part of the EU training mission, Defence Ministry State Secretary Damir Črnčec said after an informal meeting of EU defence ministers. The Ukrainians trained by Slovenian drill instructors have been trained as military engineers, paramedics and marksmen Črnčec sees no need for now to conduct training in Ukraine.

Algeria opens embassy in Slovenia

LJUBLJANA - Algeria opened its embassy in Ljubljana as the country's Foreign Minister Ahmed Attaf visited Slovenia meeting his counterpart Tanja Fajon. The pair attended the opening event, labelling the embassy's opening as proof of a joint commitment to bilateral cooperation. Fajon said it was an important milestone, while Attaf described it as a special day in bilateral relations.

Pirc Musar urges closer cooperation among EU members

PRAGUE, Czechia - President Nataša Pirc Musar stressed that closer cooperation within the EU is key to boosting economic competitiveness and securing a future for the European economy as she took part in the Globsec Forum's discussion on Europe as a global tech power. She stressed the need to focus on designing policies that will ensure a prosperous and competitive Europe in a changing world.

Struggling with liquidity, MLM sent into receivership

MARIBOR - The District Court in Maribor sent state-owned foundry MLM into receivership after years of failed efforts to find a strategic partner and address its liquidity issues. Creditors have until 2 December to report claims. Slovenian Sovereign Holding (SSH) spent months trying to find a buyer and could not provide additional aid due to EU state aid rules.

Slovenian, Korean firms join forces to make hemp products

LJUBLJANA - Slovenian hemp product maker PharmaHemp signed a memorandum of understanding on the development and production with South Korea's producer of medical products T&L, which is currently building a factory in Maribor. The companies are working together to develop medical plasters with hemp extract. T&L is currently completing the first phase of a EUR 4 million investment in a new Factory in Maribor.

TAB profitable despite flood damage

MEŽICA - Despite suffering damage of nearly EUR 27 million in last year's massive floods, the Mežica-based battery maker TAB ended the year with its highest ever group net profit. The core company saw its net profit drop by 12% to EUR 17.3 million as sales declined by 14% to EUR 252 million, but the group posted a net profit of EUR 30 million on sales of EUR 407 million.

Salus's net profit up by a third in H1

LJUBLJANA - The group around the Ljubljana-based pharmaceutical wholesaler Salus generated EUR 321 million in net sales revenue in the first six months of the year, which is 11% more year-on-year. Net profit increased year-on-year by around a third to EUR 6.8 million, the group announced.

Unior's sales slightly up in H1, profit down

ZREČE - Unior, a state-owned tool maker and automotive supplier, recorded more than EUR 154 million in sales revenue in the first half of 2024, which is 1% more than in the same period last year. The group's net profit was down by more than EUR 2 million to EUR 4.6 million because of higher costs of labour and financing.

Sava shareholders approve debt-to-equity conversion, capital increase

LJUBLJANA - The shareholders of Sava, a majority state-owned tourism group, approved a debt-to-equity conversion of claims held by Slovenian Sovereign Holding (SSH) and the state-owned KAD fund totalling EUR 35.9 million. They also endorsed a EUR 4 million capital increase that SSH and KAD will not take part in.

Hit to pay out over EUR 3m in dividends

NOVA GORICA - Hit, a Nova Gorica-based gaming group, will pay out EUR 3.1 million in dividends for the business year 2023 and several previous years, according to a decision made by the shareholders. The group is majority owned by the state, with Slovenian Sovereign Holding and KAD commanding nearly 49% and several municipalities 20%.

Celje, Olimpija advance to league phase of UEFA Conference League

CELJE/LJUBLJANA - Slovenian champions Celje have advanced to the league phase of the UEFA Conference League by beating the Armenian champions Pyunik with a 4:1 win at home in the second leg of the third qualifying round on Thursday evening, as have Olimpija Ljubljana, who beat Croatia's Rijeka 5:0. Maribor have meanwhile been eliminated by Sweden's Djurgardens.

Eight officers injured in rioting at Olimpija-Rijeka match

LJUBLJANA - Olimpija Ljubljana's convincing 5:0 win against Croatia's Rijeka in the last qualifying round for the UEFA Conference League on Thursday was marred by rioting of the ultras in which eight police officers were lightly injured. The rioting fans also caused an estimated EUR 50,000 in damage by throwing flares and ripping out seats and setting them on fire.

Shooter Franček Gorazd Tiršek wins gold at Paris Paralympics

PARIS, France - Slovenian shooter Franček Gorazd Tiršek won gold in the air rifle standing position (category R4) at the Paralympic Games, his fifth Paralympic medal but the first gold. Air rifle standing position is Tiršek's favourite event and he won silver in the three previous Paralympic Games.

Slovenian ice-hockey team fails to qualify for 2026 Olympics

RIGA, Latvia - The men's national ice-hockey team will not compete at the 2026 Olympic Games after losing against the home team and France at a qualifying tournament in Latvia. The game against Latvia on Thursday ended 4:2, while France won with 5:1 today.

Women's volleyball team qualifies for the World Championship

LJUBLJANA - The Slovenian women's volleyball team has earned its first ever ticket to the World Championship. By winning against Israel and Estonia in the qualifications, the Slovenians climbed two spots to 26th in the global ranking, the Volleyball Federation of Slovenia announced.

Javelin thrower Tom Teršek wins world youth champion title

LIMA, Peru - Slovenian javelin thrower Tom Teršek won the gold medal at the 2024 World Athletics U20 Championships. The 17-year-old phenom confirmed the role of the favourite with his last throw that landed at 76.81 metres to become only the second world youth athletics champion from Slovenia ever. The teenager from Kranj is the only youth athlete with a throw of over 80 metres this season.

Podčetrtek Castle reopening after extensive renovation

PODČETRTEK - Podčetrtek Castle, which has underwent a significant restoration after decades of decay, officially reopened today. The two projects to restore the trail to the castle and its lookout terrace were part financed with EU and state funds. The castle is now thoroughly renovated and also offers interactive and AR experiences.