Business News Business briefs

Municipalities may get greater control over rent deregulation

The Ministry of Finance, with the backing of the housing authority, is looking into giving Czech municipalities the authority to set increases in regulated rent, within boundaries set by the national government. Regulated rent was declared "unconstitutional" by the Czech courts years ago; by taking into account regional differences observers say it is more likely Parliament will act on the ruling and pass a law on deregulation.

Daikin to invest 1bn crowns into Brno plant

Daikin of Japan has announced that the company will invest 1 billion crowns into a new plant in Brno for producing compressors for air conditioners. In the early stages of the project, the plant will employ 500 people. A supplier to Daikin is also expected to build a facility in the Moravian capital that will employ 200 people.

Farm-land restitution claimants may sue Czech state for up to 20bn crowns in Strasbourg court

Restitution claimants who have not been returned their farm land and other assets may seek up to 20 billion crowns in compensation from the Czech state in lawsuits to be filed at the European Court of Human Rights in Strasbourg. Civic Democrat MP Miloslav Kucera, who along with two private organizations is leading the lawsuit, said as many as 100,000 complaints could eventually be filed.

Cinema ticket sales flat in first half of 2004

Box-office receipts at Czech cinemas were flat in the first half of this year, with cinemas taking in nearly 553 million crowns. Sales were down 4.5 per cent but the average price of a ticket rose by 6.8 per cent, to about 94 crowns, so the cinemas are holding their own.

UBS survey: Prague has among the cheapest luxury hotels in the EU

UBS Prices and Earning 2003 report found that luxury hotel rooms in Prague are among the cheapest in the European Union, second only to the Baltic capitals. Among the 70 countries surveyed, the average price of an evening meal in a good restaurant, consisting of steak, two vegetables and dessert, and including drinks but not including the tip, came to 31 dollars. The cheapest places to dine include Prague, Bucharest, Karachi and Mumbai, where such a meal will set you back only 10 dollars.