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CEZ acquires Bulgaria's largest bloc of power distributors; a Czech-Slovak
financial company buys Sparta Prague; and the daily Mlada Fronta Dnes
reports on a OECD report that says tax collection in the Czech Rep is
costly & complicated
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Trade and Industry Minister Milan Urban supports the idea of CEZ becoming a
Central European giant; the value-added tax on museums, hotels, and
historic sites may be lowered to the 5 percent rate in 2005; and TV Nova
is considering reviving its relationship with its former servicing company
CNTS.
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Czech Republic among most bureaucratic of OECD counties for doing business;
Inflation hit two-year high this August; Czech Finance Minister rejects
French proposal on EU structural funds; Current account deficit up 15.2bn
crowns from Q1 2004; Building entrepreneurs rally against CEZ electricity
price hike.
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The Czech government has announced it will increase supervision of casinos
in the country, the Ministry for Labour and Social Affairs will adopt two
European Union standards for measuring unemployment, and CEZ - the
dominant power utility - has yet to receive a serious bid on its 34
percent stake.
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Current AffairsCzech energy giant to take over third of Bulgarian energy market
While in the previous decade the Czech Republic tended to be at the
receiving end of foreign investment, the country has now started looking
around for countries where it can place its own investments. Now the
largest such deal in Czech history is in the pipeline as the Czech power
utility CEZ has been promised a majority stake in a group of power
distributing companies in Bulgaria.
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Crown drops on fears of political instability. Draft 2005 budget in circulation. Tax breaks for married couples, families with children. Popular Eurobond issue increased by 50 percent. Power utility faces $25m arbitration claim.
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