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This summary is provided by the STA:
NLB remaining domestic bank, chairman Brodnjak says
LJUBLJANA - NLB chairman Blaž Brodnjak has told the STA that NLB remains a domestic bank also after its privatisation, a bank whose heart and brain are still in Slovenia. He said NLB was looking to strengthen its role as a key regional player, including through takeovers. While pointing to the bank's profits in recent years, Brodnjak expressed concern over signs the ECB will continue with its policy of low interest rates, arguing this may not necessarily lead to positive effects. If the interest rates continue getting lower, this may shake up the banks' business model to a point where they could no longer provide nominally positive interest rates for retail deposits, Brodnjak said.
NLB and KBC examining joint sale of insurer NLB Vita
LJUBLJANA - Slovenia's NLB bank and KBC Insurance, part of Belgium's banking group KBC, are together examining options to sell insurer NLB Vita, the two banks confirmed in response to unofficial media reports. The sale of NLB's insurance arm was a commitment made to the European Commission due the bank's delayed privatisation. National broadcaster Radio Slovenija reported that NLB had had the option of keeping NLB Vita, but at the cost of having the ban on takeovers imposed on the bank prolonged by a few more years. It seems that NLB, which is already eyeing takeover targets, decided selling the insurer was the better option.
Insurer Triglav generates nearly EUR 35m in net profit in H1, 16% more y/y
LJUBLJANA - The group around insurer Zavarovalnica Triglav reported a EUR 34.7 million net profit for the first half of 2019, a 16% year-on-year increase. Consolidated gross premiums were up 10% to EUR 630 million and net premium income by 6% to EUR 491.8 million. Triglav said premium growth was recorded on most of the group's markets and at levels mostly above the growth of the whole market. In Slovenia, where Triglav Group collects 76% of consolidated premiums, average premium growth stood at 8% (market growth was 7%), while it was 10% in the markets outside of Slovenia.
Ermenc: With fresh funds, negative trends in army could be reversed
LJUBLJANA - Major General Alenka Ermenc, chief of the general staff, said that not all the shortcomings which had been piling up for the past 28 years could be eliminated in a year's time, as she met the press to present the situation in the Slovenian Armed Forces (SAF). Ermenc, appointed to head the SAF last November, highlighted as problematic the army's professionalisation, which had never been fully completed, and delays in its modernisation. However, she believes it would be possible to reverse the current negative trends if more funds were made available.
Auditors find a series of flaws at DARS
LJUBLJANA - The Court of Audit has examined contracts signed by the state-run motorway company between 2014 and 2017, finding a series of shortcomings, including DARS paying millions to subcontractors without invoking bank guarantees for the purpose. DARS failed to claim performance securities for the case when main contractors failed to pay their subcontractors for the work put in place. On top of paying main contractors, DARS had to paid EUR 8.1m in damages to subcontractors based on out-of-court settlements between 2014 and 2017. The report also fund that DARS had spent almost EUR 37,000 on the acquisition, maintenance and development of an IT system in support of public contracting which it does not use because it is not suitable for it.
Garnbret makes history with hat trick at climbing worlds
LJUBLJANA - Janja Garnbret claimed her third gold medal at the IFSC Climbing World Championships in Japan's Hachioji, securing the title in the combined, an Olympic discipline. The 20-year-old Slovenian is the first ever climber to complete a hat trick in a single championships. Garnbret had already secured gold in the women's lead discipline on Thursday after defending the title of bouldering world champion a week ago. Her sixth world championship gold medal overall makes her the most successful athlete in the history of the sport.
Swedish TAM and Italian Atitech to provide maintenance for Adria Airways
BRNIK - Swedish group TAM and Italian company Atitech will take over base maintenance for Adria Airways aircraft the Slovenian airline told the STA. Meanwhile, Danish group Northern Aerotech has gotten the green light to carry out aircraft line maintenance starting as of Thursday. Täby Air Maintenance (TAM) will provide maintenance services for Saab2000 aircraft, while Atitech, which has been a maintenance partner for Italy's flag carrier Alitalia, will service Airbus aircraft.
Stakeholders to continue debate on wolf management next month
LJUBLJANA - Prime Minister Marjan Šarec hosted a meeting at which stakeholders discussed measures against wolf attacks on farm animals, agreeing that another meeting will be held in September to talk about the necessary changes in the system of management of large carnivores in Slovenia. Agriculture, Forestry and Food Minister Aleksandra Pivec told the press after the meeting that the chronology had been reviewed of the entire developments related to large carnivores, which had spread to areas where they had never been seen before, resulting in damage to crops and attacks on livestock.
Former Church treasurer fully cleared of EU funds misuse
CELJE - Mirko Krašovec, the former treasurer of the Maribor Archdiocese, has been fully cleared of the charge that he instigated EU funds misuse ten years ago, as the Celje Higher Court fully upheld the first instance court's not-guilty ruling in the second retrial in the case. Krašovec was initially sentenced to two years in prison in December 2013 for conspiring to defraud the EU in the renovation of the Church-owned Betnava mansion in Maribor. The prosecution alleged that he persuaded the former Betnava company CEO Dragica Marinič and investment manager Anton Ekart to submit bogus construction applications to acquire EUR 1.77m in EU funds in 2009.
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