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NewsPress: Czech Republic to pay millions to Volkswagen in lost dispute

28-07-2014 06:56 | Jan Richter

The Czech government will pay the German carmaker Volkswagen 301 million crowns after losing a dispute with the firm over settling debts following the privatization of Škoda Auto, the daily Lidové noviny reported on Monday. Volkswagen acquired Škoda in 1991 but claimed then Czech government siphoned off hundreds of millions of crowns. Earlier this year, the Czech government lost an international arbitration in the case as well as a court case heard by an Austrian court. Finance Minister Andrej Babiš had released the funds, and said he would determine who was responsible in the case, the daily said. 

BusinessŠkoda unveils sketch of new-generation Fabia

17-07-2014 16:03 | Jan Richter

Škoda Fabia, photo: CTK The Czech-based carmaker Škoda Auto has unveiled a sketch of its third -generation Fabia model. The new hatchback will be wider and lower, with sharply styled panels. Production is set to start at Škoda’s plant in Mladá Boleslav later this summer, and the model will officially be unveiled at the Paris Motor Show in October.  More

Current AffairsCzech finance minister makes about turn on nuclear expansion

17-07-2014 15:09 | Chris Johnstone

Temelín nuclear power plant, photo: Filip Jandourek Only three months after the Temelin nuclear tender was scrapped, chances that the Czech Republic will swiftly restart preparations to build new reactors have revived with one of the main critics of the former Temelin tender now backing nuclear expansion.  More

NewsTemelín nuclear plant taken off grid

11-07-2014 12:47 | Jan Richter

The Temelín nuclear power plant has been taken off the grid after one of its reactors experienced problems with one of the pumps in plant’s first water circuit, a spokesman for the plant said. The reactor was taken off the grid on Thursday night. The plant’s other reactor was shut down in June due planned flue replacement. The plant’s operator, the state-run firm ČEZ, said the shutdown would not affect customers as the firm has replaced Temelín’s output with electricity from other sources. 

MarketplaceRising car sales reflect economic recovery, increased consumer confidence

09-07-2014 15:48 | Jan Richter

Photo: Škoda Auto Both production and sales of cars in the Czech Republic have seen a strong increase this year. Some 94,000 new cars were registered in the country in the first six months of 2014, more than 16 percent higher than in the same period last year. Meanwhile, Czech-based car producers have pushed up output by over 8 percent. The continuing recovery of the Czech economy, along with higher household spending have been driving the rising sales, according to Vojtěch Opleštil from the Prague branch of the PricewaterhouseCoopers consultancy.  More

BusinessSouth Koreans put themselves forward for future Temelín tender

09-07-2014 11:34 | Chris Johnstone

Temelín nuclear power plant, photo: Filip Jandourek Czech media made much on Tuesday of the announcement by South Korean Ministry of Energy officials that they are looking for the country to participate in a further tender to build nuclear plants at the Temelín site in south Bohemia, if one is held.  More

NewsNew car registrations up by 16 pct between January and June

04-07-2014 13:47 | Jan Richter

More than 94,000 new cars were registered in the Czech Republic in the first six months of the year, which was some 16.4 percent more than in the same period last year, according to figures released on Friday by the country’s Car Importers Association. Sales of trucks, light utility vehicles, and buses also registered an increase. Škoda remains the most popular brand in the Czech Republic with a 30-percent market share, followed by Volkswagen with 9.3 percent and Hyundai with 9.1 percent. Analysts expect car sales for the entire year will see a 5-percent annual increase. However, only 4 percent of the country’s vehicle fleet are annually renewed, one of the lowest rates in Europe, according to the Car Importers Association. 

NewsVysočina lobbies for fifth reactor at Dukovany

24-06-2014 15:22 | Jan Velinger

Councilors from the region of Vysočina have signed a document supporting the addition of a new – fifth – reactor at the nuclear power plant in Dukovany, which they see as an important source of new jobs and a boost to the quality of life in the region. The governor of the region, Jiří Běhounek, said he had already discussed the matter with both representatives of the Czech energy giant ČEZ, which runs the plant, and government representatives. Dukovany, older than the only other Czech nuclear power plant Temelín, faces routine tests in September by a team of specialists from WANO. The last such tests were five years ago. 

BusinessCzechInvest says foreign investment interest strongest for six years

20-06-2014 14:02 | Chris Johnstone

Photo: archive of Nexen CzechInvest is enjoying a revival on the back of a surge of foreign investment interest in the Czech Republic with the agency saying that a lot of the prospective enquiries cover research and development facilities and not just assembly plants.  More

NewsCommunists push for lifting of Iran nuclear plant embargo

14-06-2014 13:44 | Jan Richter

The Czech Republic’s Communist Party has put forward a motion to cancel legislation that prohibits Czech firms from supplying technology to the Bushehr nuclear power plant in Iran, the news agency ČTK reported on Saturday. The party argues the law is obsolete as the power plant is complete, and no supplies of Czech equipment can take place. It is the Communist Party’s third attempt to have the law scrapped. The legislation was adopted in 2000 in a reaction to plans by a Czech firm to export air conditioning system to the plant; the plan came under criticism from US and UK governments. 

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