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Current AffairsCzech Republic far from immune to the global financial crisis
EU leaders met late last week to develop a European strategy to combat the
global financial crisis, and the Czech Republic too is set to tighten its
belt in many key areas. Dominik Jun spoke with economist Tomáš Sedláček
and began by asking him whether recent comments by Finance Minister
Miroslav Kalousek that the county was in fact an “oasis” protected from
the current crisis were true:
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In Business News this week: Czech business leaders, feeling the squeeze of
the strong crown, call for a euro adoption target date – not this year,
says the government; Prague Airport is shedding a 10th of its workforce
ahead of its planned privatisation; the Czech Republic ranks among the
worst states in an international study of how long it takes to deal with
taxes; the number of debit and credit cards issued by Czech banks keeps
increasing; and two Czech firms rank in the first five in a regional Top
500.
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In Business News this week: the price of some flats has begun falling in
parts of the Czech Republic, according to press reports; the most common
car on Czech roads is the Škoda Felicia, though the number of
domestically
produced autos owned by Czechs has fallen in recent years; operators of
multiplex cinemas are increasingly looking to the regions as the market in
Prague becomes saturated – though audience numbers have fallen
significantly; and goat farming is becoming more common due to subsidies
and demand for organic food. More
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In Business News this week: the reduction in Russian oil deliveries
continues, leading Czechs to look for alternatives; the Senate has passed
pension and sick pay reforms; rail operator České drahy has been fined
for stifling competition, and Volkswagen is considering building its Up!
mini-car in Eastern Bohemia.
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This week in Business News: The government is to support Škoda producing
regions, Czech Airlines struggles with high fuel costs, Czechs are starting
to shop for cheaper groceries in Germany, household debt growing faster
than savings and gas prices are set to skyrocket next year.
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In Business news this week: Climbing the rankings of competitive nations;
why Czechs are making so much plastic; a quarter of Czech children posess
bank accounts; film producers angry about lack of progress of
tax-incentives and Škoda wins a bid to continue to supply police-cars in
the country.
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