The Czech Republic wins arbitration case against British BCD over toxic cleanup; Tyres producer Mitas opens first plant in the USA; Škoda Auto raised first quarter profit by 11.8%; Energy Regulatory Office to halt support for new renewable energy sources; Czech claims on other countries total 22.35 billion More
Foreign Minister Karel Schwarzenberg will be meeting with his American counterpart Hillary Clinton at a NATO meeting in Brussels on Thursday. The two officials are set to discuss the completion of the Temelín nuclear power plant; the US company Westinghouse is one of the bidders in the multi-billon crown tender. On Wednesday, Defence Minister Alexandr Vondra met with his US counterpart Leon Panetta and signed an agreement giving Czech weapons manufacturers access to US Army tenders.
Foreign Minister Karel Schwarzenberg will be meeting with his American counterpart Hillary Clinton at a NATO meeting in Brussels on Thursday. The two are set to discuss the completion of the Temelín nuclear power plant. The US company Westinghouse is one of several seeking to win the multi-billon crown tender. On Wednesday, Defence Minister Alexandr Vondra met with his US counterpart Leon Panetta; during the conference the two will sign an agreement allowing Czech weapons manufacturers access to Us Army tenders.
In Business News this week: the government approves a far-reaching fiscal consolidation plan to reduce the state budget deficit, a drop in deliveries of Russian crude oil to the Czech Republic triggers speculation of a plan to up the price and Škoda Auto posts record sales. More
In Business News this week: Czech industrial production speeds up; most Czech companies want to hire employees as contractors; Saturday shifts at Škoda Auto end over labour dispute, the North American brewing giant Molson Coors buys Staropramen; and Prague’s Ruzyně airport marks 75 years since the first landing. More
German Chancellor Angela Merkel is in Prague on Tuesday for a brief working visit. During a five-hour trip, Ms Merkel met with Prime Minister Petr Nečas on the European fiscal pact and the completion of the Temelín nuclear power plant; the two are also taking part in a debate on the future of Europe with students of Charles University. The German chancellor has said she respects the Czech stances on nuclear power and the Euro pact, though her country holds opposing positions. Germany definitively abandoned nuclear energy after the Fukushima catastrophe in Japan last year, and has spearheaded the fiscal responsibility pact, which binds the signatories´ governments to observe balanced state budgets. The Czech Republic and Britain are the only two EU members that have not yet acceded to the pact.
Current AffairsGerman chancellor non-confrontational on EU fiscal compact during visit to Czech capital
On a brief working visit to the Czech Republic, German chancellor Angela Merkel met with Czech Prime Minister Petr Nečas and President Václav Klaus in Prague on Tuesday. Two issues dominated the agenda: a new EU fiscal compact that is being pushed by Germany as well as differing approaches to energy policy in both countries. More
Industry and Trade Minister Martin Kuba has said that the expansion of the Temelín nuclear plant should not be judged just from an economic angle, but that its role in ensuring the independence of the Czech Republic from energy imports should also be considered. Speaking at a conference on Thursday, he commented on recent speculations that the multi-billion crown tender for the completion of the plant may not be awarded in the end. He said that the construction of two new reactors at the plant was a strategic and decisive question in Czech energy politics and therefore could not be looked at purely in terms of its economic cost-benefit ratio.
Industry Minister Martin Kuba has said the country should rely heavily on nuclear power in the coming years. Speaking at the international energy forum in Prague on Thursday the minister said that in addition to expanding the Temelin nuclear power plant in south Bohemia and extending the service life of Dukovany in southern Moravia it was necessary to seek a location for a third nuclear power plant. Minister Kuba said his ministry was currently drafting a long-term energy strategy which would count on nuclear power covering over 50 percent of domestic power consumption in the years ahead. He said the country could not support renewable energy sources that do not produce power at a reasonable price.
In this week’s business news: Czech banks are getting ready to sign off on what could be the largest-ever club deal, negotiations between Škoda Auto management and unions continue, the Czech Agrarian Chamber’s president has said that egg prices will stabilize, the cost of fuel has hit a record high and the American coffee retailer Starbucks has opened its first Czech branch outside of Prague. More