AGP Executive Report

Banking & M&A: Addiko Bank’s management backed Raiffeisen’s takeover bid as “more certain” than NLB’s, despite the higher NLB price, with a likely split of Addiko’s regional operations. Public Finance: Slovenia issued a €350m seven-year floating-rate euro bond due in 2033, with strong domestic bank demand. Local Economy & Inclusion: The government approved €9.8m for municipalities with registered Roma settlements, to be paid in two instalments. Labour Costs: Slovenia’s Chamber of Commerce says labour costs per employee rose by over 10% for more than half of firms, squeezing margins. Politics & Business Climate: A coalition of 60 prominent figures warned against the new government’s sweeping economic and social reforms. Governance & Risk: Police searched 42 premises plus one municipality in a corruption probe involving the Moravče mayor. Transport & Trade Links: Ljubljana–Tel Aviv flights continue via Trade Air while Israir’s permit renewal is delayed, amid security-protocol scrutiny. Innovation & Skills: The Ljubljana Faculty of Pharmacy broke ground on a €100m campus building expected to be finished by 2030. Tech & Consumer Use: A survey found 64% of Slovenians use AI for trip planning, mainly for local tips.

Banking Deal Watch: Addiko Bank’s management is leaning toward Raiffeisen Bank International’s takeover offer, saying it’s more likely to close than NLB’s higher bid—while RBI’s plan would split Addiko’s region, with Alta Group taking Bosnia/Serbia/Montenegro and RBI folding Croatia/Slovenia into its network. Public Finance: Slovenia issued a €350m seven-year floating-rate eurobond due 2033, with demand hitting €375m early and Slovenian investors taking 96% of the order. EU Climate & Industry: The EU’s Innovation Fund Heat Auction picked 65 projects, including Slovenia’s Lek Pharmaceuticals site, to cut gas-based heat with €400m support. Energy & Business Infrastructure: Slovenia’s Ljubljana Faculty of Pharmacy is set for a €100m Brdo Campus building, aiming to expand capacity to 2,000 students and 250 staff by 2030. Transport & Trade: Trade Air temporarily stepped in on the Ljubljana–Tel Aviv route after an Israir permit delay. Legal/Corporate Governance: United Group shareholders Dragan Solak and Victoriya Boklag filed a lawsuit to block the sale of United Media, arguing consent rights were bypassed. Regional Growth: Rohlig SUUS Logistics opened a Uzbekistan subsidiary to expand end-to-end logistics services in Central Asia.

Slovenian Debt Markets: Slovenia priced a €350m seven-year floating-rate eurobond due 29 May 2033, with demand hitting €375m early and Slovenian investors taking 96% of the order book; OTP Bank and UniCredit Banka Slovenija led the deal. Parliament & Tax Politics: The National Assembly declared a proposed referendum on the coalition’s economic omnibus bill inadmissible, with trade unions signalling a move to the Constitutional Court over tax provisions. EU Budget Negotiations: The “Friends of Cohesion” push for higher CAP and cohesion funding and a more gradual repayment of recovery debt faces resistance from “frugal” northern states, keeping the 2028–2034 MFF fight front and centre. Cross-Border Business: Rohlig SUUS Logistics opened a subsidiary in Uzbekistan to expand end-to-end logistics for a growing Central Asian market, including road, rail, air, warehousing and customs brokerage. Energy & Permits: EU talks on grid upgrades include concerns about “silent approval” for parts of permit procedures if authorities miss deadlines, raising sovereignty worries in member states. Regional Connectivity: A border campus idea in Austria’s Styria–Slovenia’s Štajerska area aims to boost joint business initiatives and cross-border ties.

United Group Legal Battle: Dragan Solak and Victoriya Boklag have filed a lawsuit in London to block BC Partners from selling United Group’s media business, arguing the deal breaches their shareholders’ consent rights and would break the telecom-media bundle that drives customer value across Southeast Europe. Slovenia Finance: Slovenia has mandated banks to prepare a new seven-year euro bond (floating rate, due 2033), expected to launch soon depending on market conditions. EU Grid Politics: The EU is pushing “silent approval” for steps in energy-grid permits, a move member states say could quietly shift power away from national authorities. Tech & Security: A biometric workshop highlights how face morph attacks are getting harder to spot as AI improves, while Incogni claims it can automate personal-data removal from hundreds of data brokers. Business Expansion: MASCHIO GASPARDO opens its first full-line store in North America, betting on a mono-brand model with full agronomic-cycle support. Sports & Culture: A Serbian-Slovenian-Croatian-Montenegrin film production, The White Week, is underway, and the Lakers add a strategy-and-data hire with a NASA/space-force background.

Ireland–Israel Trade Curbs: Ireland is pushing a law to ban imports of goods from Israeli settlements in the West Bank, aiming for passage by mid-July, while critics inside Ireland and business groups argue the scope should include services—so the fight is now about what’s “implementable” and what’s politically effective. EU Budget Pressure: Sixteen EU countries, including Slovenia, are lining up behind higher funding for cohesion, agriculture and fisheries in the 2028–2034 long-term budget, warning the Commission’s plan cuts these areas in real terms. Slovenia Business & Finance: Slovenia’s insurance sector reported record premium growth and strong 2025 profits, while telecom data shows Telekom Slovenije extending its mobile lead in 2025. Energy & Industry: The EU approved €400m for 65 industrial heat decarbonisation projects, with Slovenia among the beneficiaries. Sports Spotlight: Luka Dončić earned a sixth All-NBA First Team nod, and Slovenia’s ice hockey team secured another elite-division spot.

Slovenia’s political reset: Janez Janša has been re-elected prime minister, a sharp turn from Robert Golob’s pro-Palestine stance and a likely shift in how Ljubljana handles Israel and EU sanctions. EU budget fight: Net-paying countries are preparing a revolt as the €1.8 trillion EU budget takes shape, with agriculture, cohesion and fisheries at the centre of the dispute. EU industrial push: The Commission has awarded €400m to 65 projects to decarbonise industrial heat, including work in Slovenia. Business mood: Slovenia’s manufacturing confidence improved in May (to -6), while retail and services sentiment also strengthened. Migration pressure test: Poland’s hardline pushbacks at the Belarus border are being framed as a preview of what the EU’s asylum pact could look like in practice. Sports & spotlight: Luka Dončić returned to Instagram with a rare family update amid ongoing personal legal reporting, while his season earned another All-NBA First Team nod.

EU Diplomacy in Nepal: EU ambassadors (including Slovenia’s) are in Kathmandu for a two-day mission to meet Prime Minister Balendra Shah and Nepal’s ministers, plus business, civil society and youth leaders—aiming to reset cooperation with the new government. EU Climate & Industry Funding: The Commission awarded €400m to 65 industrial heat decarbonisation projects across 10 countries, with Slovenia among the selected—pushing electrified and renewable heat for energy-intensive firms. Slovenia Business Mood: After a weaker April, Slovenia’s business sentiment improved in May, rising 2.8 points to -2.2. AI Adoption Gap: A new EU-wide look shows AI use is rising, but unevenly—Europe’s patchwork economy still lags the US, with skills and capital flow doing much of the explaining. Politics & Israel: The week’s EU focus also stays on Israel-related fallout, including France banning Itamar Ben-Gvir from entering, while Slovenia’s new pro-Israel leadership shift is drawing attention. Sports & Culture: Slovenia’s presence pops up from EBRD leadership changes to French Open matchups and ongoing football transfer chatter.

Slovenia’s Political Reset: Janez Janša has been voted in for a fourth term as prime minister (51–36), setting up a new coalition agenda built around tax cuts, less red tape, tighter border control and a tougher stance on migration—while President Nataša Pirc Musar has flagged concerns over plans affecting RTV Slovenija, the anti-graft watchdog and trade unions. Israel & Europe’s Pressure Point: Slovenia’s shift toward a pro-Israel line is landing amid fresh EU friction over the Gaza flotilla fallout, with France banning far-right minister Itamar Ben-Gvir from entering its territory. Security at Home: Slovenia is extending border controls with Croatia until 21 December, citing ongoing regional instability. Economy & Society: The EU’s AI Index puts Slovenia slightly below the European average, and a new park in flood-hit Prevalje shows how local investment is turning recovery into everyday life. Sports Spotlight: Luka Dončić keeps the spotlight on Slovenia in global sport, landing All-NBA First Team honors despite the Lakers’ playoff exit.

Slovenia’s Political Reset: Janez Janša has returned as prime minister after parliament voted 51–36, ending the post-election stalemate and setting up a new right-leaning coalition. The 67-year-old, a long-time Trump ally and staunch supporter of Israel, now has 15 days to confirm his cabinet—while critics warn the shift could strain Slovenia’s democratic trajectory and its EU ties. Israel-EU Friction: The vote lands amid fresh European pressure over Israel’s Gaza flotilla crackdown, with France and Poland banning far-right Israeli minister Itamar Ben-Gvir from entering their territory. EU Watchpoints for Slovenia: Slovenia’s AI Index score sits slightly below the EU average, and the new coalition is already drawing fire from trade unions over workers’ rights and public services. Local Life & Business: After 2023 floods, Prevalje is reopening with a new Lake Park, while AJM reported 26% revenue growth in 2025.

Slovenia’s Political Reset: Slovenia’s parliament voted 51-36 to bring Janez Janša back as prime minister for a fourth term, ending a post-election deadlock and setting up a new right-leaning coalition that promises tax relief, pension changes, less red tape and more power for local governments—while President Nataša Pirc Musar is already warning about coalition plans touching RTV Slovenia, the anti-graft watchdog and trade unions. Border & Security: Slovenia extended temporary border controls with Croatia until 21 December, citing ongoing regional instability and security risks. Labour vs Reform: Trade unions and the European Trade Union Confederation say the coalition’s economic reform law and proposed changes to union-fee deductions could weaken workers’ rights and public services. Energy & Costs: Fuel prices jumped again across the EU in April, with diesel up sharply year-on-year; separately, Slovenia’s energy-storage push continues as EBRD backs a €70m multi-country battery project led by NGEN. Business Pulse: AJM reported 2025 revenue up 26% to about €33m, while Ljubljana’s stock index edged higher.

Slovenia’s Political Reset: President Nataša Pirc Musar has raised concerns about parts of the new coalition’s agenda after Janez Janša was elected prime minister-designate, including plans touching RTV Slovenija, the anti-graft watchdog, and the coalition’s stance toward trade unions. Labour vs. Reform: Trade union groups say the coalition agreement leans too heavily toward capital and could weaken public services, while the European Trade Union Confederation also criticised the reform law and proposed changes to union fee deductions. Security at the Border: Slovenia is extending temporary border controls with Croatia until 21 December, citing ongoing instability in the wider region. Energy & Cost Pressure: Eurostat data shows fuel prices rising across the EU, with diesel jumping sharply year-on-year; and Slovenia’s debate sits alongside wider questions like why Ireland’s electricity is the EU’s highest. Business Watch: AJM reported 2025 revenue up 26% to about €33m, with net profit rising to €0.5m.

Slovenia’s Political Reset: Slovenia’s parliament has approved right-wing veteran Janez Janša as prime minister-designate in a 51–36 vote, ending a post-election stalemate and setting up a new government built around tax relief, pro-business reforms, pension funding changes, and less red tape—plus a push to shift more power and money to municipalities. EU & Security Pressure: The same week also brought another six-month extension of temporary border checks with Hungary and Croatia, as Ljubljana cites a still-fragile security environment. Energy Transition Funding: In Brussels, the EU selected 65 projects for nearly €400m to decarbonise industrial heat, with Slovenia included. Power Storage Push: The EBRD backed a €70m battery storage portfolio led by Slovenian developer NGEN across several countries, signaling momentum for grid flexibility in the region. Business Pulse: Ljubljana’s stock market ended the week slightly higher, with Krka among the gainers. Sports & National Team: Luka Dončić will skip this summer’s FIBA World Cup qualifiers to focus on recovery and family time.

Slovenia’s Political Reset: Parliament approved Janez Janša as prime minister-designate, ending a deadlock and setting up a right-leaning coalition agenda focused on tax relief, pro-business reforms, pension changes, less red tape, anti-corruption steps, and more power for local governments. Energy Investment: The EBRD backed Slovenian developer NGEN with a €70m loan (InvestEU first-loss guarantee) for five grid-scale battery projects across Latvia, Poland, Romania and Slovenia—302 MW total—aimed at boosting stability in markets where flexibility is still scarce. EU Security & Borders: Slovenia extended temporary Schengen border checks with Hungary and Croatia for six more months, citing an unstable security environment. EU Sanctions Deadlock: As criticism grows over Itamar Ben-Gvir’s treatment of flotilla detainees, the EU stressed sanctions require unanimity—so action remains politically hard. Sports & National Team: Luka Dončić will skip this summer’s FIBA World Cup qualifiers to recover from a hamstring injury and spend time with his daughters.

EU Demographics Watch: A new EU-wide look at population trends puts the spotlight on who’s growing and who’s shrinking—while aging and low birth rates keep reshaping Europe’s economic future. Slovenia Coalition Blueprint: The incoming government’s deal is built around tax cuts, tighter fiscal discipline, and labour-market liberalisation, while also creating a Demographic Fund and tightening oversight of social transfers. Public Finances Debate: In parliament, the state of public finances became a flashpoint, with outgoing and incoming sides sharply disagreeing on what comes next. EU Forecast Pressure: The European Commission downgraded Slovenia’s 2026 growth outlook to 1.9%, even as it expects a rebound in 2027. Energy Storage Push: NGEN secured up to €70m from the EBRD to expand battery storage across CEE, including Slovenia—aimed at boosting grid stability. Israel Flotilla Fallout: EU leaders renewed calls for action after Ben-Gvir’s taunts of detained flotilla activists, while Ireland’s Occupied Territories Bill is set to progress soon.

Eurovision Fallout: North Macedonia is set to return to Eurovision next year after a four-year absence, as the contest’s Israel-related boycott wave keeps reshaping participation. Port & Energy Finance: Slovenia’s Luka Koper group lifted Q1 net profit by a quarter to EUR 25m on higher container throughput, while Petrol shareholders approved a EUR 2.5 per share dividend. EU Economic Pressure: The European Commission downgraded its 2026 growth forecast for Slovenia to 1.9% (from 2.4%), even as it expects a rebound to 2.3% in 2027. Middle East Trade & Sanctions: Ireland is moving ahead with a bill to curb trade with Israeli settlements, and EU leaders are again under pressure to respond after Ben-Gvir’s flotilla taunts. Energy Transition Push: The state confirmed EUR 10m in grants for battery storage incentives, and Slovenia–Croatia gas operators signed to expand the Rogatec interconnection capacity. Local Costs Watch: Ljubljana’s waste incinerator is now estimated at EUR 400–490m, with multiple financing scenarios. Business Diplomacy: A Slovenian–Chinese event in Postojna focused on faster, more practical supply-chain links, especially in automotive.

Giro d’Italia momentum: Jhonatan Narváez is emerging as the surprise star of the race, stacking three wins in eight stages and sitting second at the halfway mark—19 points behind the points leader after a punishing stage 11 win that keeps his bid for the ciclamino jersey very much alive. EU enlargement push: Austria, Czechia, Italy, Slovakia and Slovenia back a “step-by-step” model for Western Balkans countries to enter parts of the EU single market once they meet rules sector by sector, with access potentially reversible if reforms slip. Gaza flotilla backlash: A wave of condemnation—including from Slovenia—followed footage of Israeli National Security Minister Itamar Ben-Gvir humiliating people detained from the Global Sumud flotilla, escalating diplomatic pressure around the Gaza blockade. Slovenia business & finance: OTP Group completed its acquisition of Koper-based Primorski Skladi, while NGEN secured a EUR 70m EBRD loan for battery storage systems across Central Europe. Innovation spotlight: Slovenian startup Bikerguard is pitching a helmet-mounted electric visor wiper aimed at improving safety and visibility in rain.