3 min.
Editorial Invest in Slovakia
In this week's selection, we bring you 10 articles from other media outlets and a summary of each. In 3 minutes, you'll pick up news from the world of finance, technology, and real estate.
Taxes don't have to be a bogeyman. They also offer interesting opportunities - Valéria Morťaniková, tax advisor and partner in the tax advisory department of Deloitte in Slovakia, explains: "There is now quite an interesting range of public funding opportunities available. The Recovery Plan, the Modernisation Fund, the Innovation Fund, the European Structural and Investment Funds and the long-awaited Operational Programme Slovakia associated with them provide opportunities to draw on resources. All you have to do is choose the most appropriate form of assistance and prepare for it in a relevant and timely manner." Conversely, failing to comply with tax obligations and dealing with the situation ex post does not pay.
While your car is charging, go for a swim. Tesla brings water-element charging stations - Businesses should not just be seen as a commodity, but should deliver customer experiences. A swimming pool to cool off, or a lounge with video games and a café promotes a sense of prestige and brand loyalty. The trend of delivering experiences can be observed in several brands nowadays.
Real estate is taking a hit. Price growth is slowing down, there are more reasons - In the second quarter of 2022, house prices grew more slowly (6.4 %, compared to 8.5 % in the first quarter). The price average is attacking the psychological threshold for both apartments (EUR 2,947) and houses (EUR 1,987). A number of circumstances are pointing towards a possible decline in property prices, among them the gradual rise in interest rates and the fact that some offers remain on the market for relatively longer. "In May and especially in June, we register a significantly increased number of advertisements, which were already on offer in previous months," say NBS analysts. They add, however, that these signals are not yet enough to claim that the market is already cooling down.
Has the gold gone bad? No. Skeptics hold only weak cards - Why hasn't investing in gold paid off for Americans in the last year? Because the US dollar has done extremely well. Against the currencies of its major trading partners, it is at a 20-year high. And since gold is normally priced in dollars, it has not done well in this comparison. According to Ronald Izip, editor-in-chief of TREND, "...but gold is the second best of the typical financial investments, not counting oil, natural gas or the Brazilian real." Right after the dollar itself.
Chinese government wants to rescue developers - After the real estate boom of the past two decades, big developers in China have come under a lot of pressure. The cause is believed to be inefficient project management, rising prices of building materials and weakening demand from buyers. In addition, developers have been unable to refinance their costs through banks following the tightening of regulatory and financial requirements by the Chinese central bank. The situation has led to a 'mortgage boycott', which is exacerbating social tensions in the country and threatening the stability of the financial sector. The Communist Party wants to tackle the problem with a rescue fund of 150 billion. However, according to estimates, this may not be enough.
Collaborative banking is expected to be a major trend to watch by the end of 2022 - Just as the demand for greater control of consumer data in financial services is increasing, so too is the need for greater flexibility and choice. More than ever, consumers need easier and faster access to a wider range of financial education tools and resources. "One size fits all" is no longer enough. Asa Lendon CEO and co-founder Glenn Peña strongly believes that the collaborative banking model is the future of financial services. "Until now, there simply hasn't been a good way to tailor the banking experience to provide the choice and control that customers increasingly expect. Collaborative banking is a way for financial institutions and fintech to work together in a mutually beneficial way, all for the good of the end customer."
Are you ready for the digital world? 4 skills everyone will need - The labour market is increasingly valuing soft skills as demand for skills that machines cannot replicate increases. According to a recent study, Dell predicts that 85 % jobs in 2030 have not yet been invented. Forbes magazine predicts the following 4 skills needed: digital and data literacy, technical skill, and digital threat awareness.
Learn how to use your payment card as efficiently as possible, so you don't fall for fraudsters - With the frequency of credit card use, the number of fraudsters increases in the summer. Finreport has compiled 9 tips on how to prevent abuse, reduce fees and make the most of your card.
Inflation is in increasingly red numbers. It reached 8.9 % in the euro area and 12.8 % in Slovakia in July 2022 - Inflation continues to rise, albeit at a slower pace than in recent months. According to Eurostat, the biggest contributor to high inflation is energy, which has risen by 39.7 % year-on-year. This is followed by food, alcohol and tobacco. Slovakia ranked 4th among euro area countries in the inflation rate ranking in July. The ECB was one of the last central banks in the world to raise its key interest rates. It also introduced a new instrument, the TPI, to "...to dampen excessively negative effects on the yields of some government bonds." - Robert Juris, FinReport.
Civil servants lack a secure platform. WhatsApp or Signal are inadequate, expert says - According to Tomáš Kucharík, an expert on cybersecurity of mobile communication, the state employees in Slovakia lack a secure communication platform. Many communicate via WhatsApp, Signal or Telegram. However, their security is not sufficient for state officials. "Despite the fact that Signal is considered a better protected communication application, it is, of course, also true that it can be attacked by hackers." According to Kucharik, the most significant difference between Signal and Silentel is that Signal is not spyware-resistant like Pegasus.
Pleasant reading!
