Business News Business briefs
New reporting requirements for publicly listed companies
Heads of companies whose securities are traded on the Czech capital
markets will have to make public their remunerations under the new capital
market business law. As of this year, annual reports must list the
salaries of company directors. The measure, based on U.S. law, is designed
to prevent managers of firms on the verge of bankruptcy from paying
themselves hefty remunerations.
Zaoralek tasked with drafting Code of Conduct for MPs
Lubomir Zaoralek, photo: CTK
The speaker of the lower house of Parliament, Lubomir Zaoralek, has been
given responsibility for drawing up a recommended code of conduct for MPs.
He was quoted as saying that such guidelines would be beneficial as
politicians have differing standards as to what constitutes corruption and
what MPs can and cannot accept in terms of gifts or favours from lobbyists
and business interests. The goal is to put an end to the
"buying" of votes. The measure comes in the midst of an alleged
attempt to bribe an MP in the governing coalition by the main opposition
Civic Democrats into a vote of no confidence in the government.
Biggest deal to date on the Czech office space market
BB Centre
The biggest deal to date on the Czech office space market was announced
this week: The German investment company SachsenFonds bought four office
blocks in Prague's BB Centre for EUR 125 million — that's nearly 4 billion
crowns. The U.K.-based property services firm Jones Lang LaSalle advised
the German investor in the purchase of 54,000 square metres of office
space, which was put up for sale by the European fund Heitman. The four
buildings in Prague 4 are now leased by the companies Eurotel, GE Capital
Bank and Hewlett-Packard.
New restrictions on project-based work placed on employment agencies
Employment agencies that have specialised in providing students for short-term work assignments will no longer be allowed to sign project-based work contracts with the students. The aim is to close a tax loophole which allowed the agencies to avoid paying social taxes on the students. Companies will, however, still be able to sign such project-based contracts directly with short-term workers.
