The Prague Stock Exchange’s main index passed the 1,000 mark on Tuesday for the first time since October last year. The PX index was last above 1,000 on October 14, before a wave of panic selling sparked by worries about the state of the US and worldwide financial sector. In February the index fell to a low of 628.5 points. Over recent days shares on the Prague exchange have been caught up in a surge by stocks worldwide.
The Christian Democrats have objected to plans for a two-way debate between leaders of the two main parties ahead of October’s elections. The party has protested Czech Television’s plans for a debate between leaders of the Civic Democrats and Social Democrats on the last Sunday ahead of the vote. They say such a format risks distorting the vote. They want the two-way debate widened to include more parties. Christian Democrat leader Cyril Svoboda said that the recently re-elected head of the public broadcaster had a chance to show his mettle against pressure from the two main parties.
Czech police have said they will reopen an investigation into the sale of the country’s second biggest coal mining company, Mostecká Uhelná. The case was running for almost a decade until it was shelved a year ago. The reopening follows the discovery of new evidence by the Swiss general prosecutor who launched an investigation in the Spring, according to Czech Television. The investigation centres on suspicions the 1998 acquisition of the company – now re-named Czech Coal – could have been funded by billions of crowns which should have been set aside for re-cultivation of former mining sites but found its way into foreign bank accounts.
Czech Prime Minister Jan Fischer on Tuesday welcomed expressions of EU solidarity over Canada’s re-imposition of visas on Czechs. But Mr Fischer underlined that what Prague is really seeking is EU action that would force Canada to return to a visa-free regime. The prime minister was speaking after a meeting with President Václav Klaus. EU foreign ministers on Monday voiced their solidarity with the Czech Republic over the re-imposition of visas on July 14 but did not discuss retaliatory steps. The European Commission should first of all come up with its stand by September. Canadian authorities said on Tuesday they had given out 1,360 visas so far with less than 1.0 percent of applications refused.
Sparta Prague take the field against Greek team Panathinaikos on Tuesday night for a chance of playing in the European Champions League. The first leg of the third pre-qualifying round offers the Czech side a chance of revenge. The Athenian team blocked Sparta’s chances of a place in the top European competition last year with wins at home and away. Sparta Prague has not featured in the Champions League for the last three seasons.
Czech police are also facing budget problems. In this case, money for covering operational expenses is short to the tune of around 900 million crowns. This threatens the force with being unable to fuel patrol cars, pay energy bills or buy paper. On the other hand, a shortage of around 3,500 staff nationwide means that the force is saving even more on the wages bill. Minister of Interior Martin Pecina said on Tuesday that the government should rush through changes that will allow unspent cash from one section of the budget to be used in another. The entire system should be overhauled next year so that budgets corresponded with costs, he said.
The number of women undergoing abortions in the Czech Republic rose last year. The Institute of Health Information and Statistics said 2008’s total climbed to 41,446 cases compared with 40,917 a year earlier. This translates into 16.35 abortions per 1,000 women of child bearing age. The institute said the slight rise in abortions was partly explained by the trend of women postponing childbirth till later in life when the risks are higher. Even so, the number of abortions has fallen to a quarter of the level it was in the early 1990’s. That is largely thanks to the greater availability of the birth control pill.
The last Czech tourists with crashed tour operator Tomi Tour have returned home. A Czech airlines plane brought the last 115 tourists back from Egypt on Tuesday morning. Around 3,200 Czechs who had booked with the tour operator were abroad when its collapse was announced on July 17. Most of the tourists were stranded in Turkey, Egypt and Spain. Holiday bookings were being taken minutes before the collapse was announced.
The Ministry of Finance says it will be forced to revise its budget deficit figures for this year because of the worse than expected economic situation. The ministry promises a new version of the 2009 budget by mid-August which could see the deficit ballooning to 200 billion crowns or beyond. The ministry only in June said that the deficit should not exceed 170 billion crowns. Since then however it has deepened its prediction of how much the economy will shrink this year to 4.3 percent.
The Czech Communist Party has said that it is ready to apologise for wrongs committed under communism in the former Czechoslovakia if that leads to closer cooperation with the centre-left Social Democrat Party after October’s elections. On Monday, Communist leader Vojtěch Filip told Hospodářské noviny that ‘the left’s cooperation’ was ‘in everyone’s best interest’ and that his party was ready to say sorry, if that would lead to closer ties between the two parties. According to Hospodářské noviny, however, the Social Democrats have no interest in such a deal. Deputy Chairman of the Social Democrats Zdeněk Škromach told the paper that the Communists could well apologise, but that this would not change anything. The Communist Party already apologised for past wrongs after the Velvet Revolution in 1989.