In Business News this week: Czech Republic fails to use 12 billion crowns in EU subsidies in 2013; Czech household debts are steadily increasing; Aero Vodochody was ninth fastest-growing aircraft producer in world last year; investment group PPF reportedly planning to take over country’s biggest private chain of medical facilities; and Czech online retailers offer discounts on Black Friday.
Czech Republic fails to use 12 billion crowns in EU subsidies
Photo: European Commission
The Czech Republic failed to use EU subsidies worth 12 billion crowns in 2013, two billion more than originally estimated, the minister for regional development, Karla Šlechtová, said at the Žofín Forum this week. The minister also warned that the Czech Republic could lose another ten billion or more crowns in EU subsidies this year. The country has had persisting problems in drawing subsidies from EU funds, failing to meet the given criteria.
Czech household debts keep increasing
Czech household debts have been steadily increasing since the start of the year. Indeed, household debts provided by banks and financial institutions grew by some five billion crowns to 1.2 trillion in October compared to the previous month, according to data published by the Czech National Bank. Overall household debt was 43 billion crowns higher year-on-year last month.
Aero Vodochody among top 10 fastest growing aircraft producers last year
Photo: Czech Army
Aero Vodochody was the ninth fastest-growing aircraft producer in the world in 2013, according to a list of the world’s biggest manufacturers put together by Pricewatherhouse Coopers for Flight International magazine. The sales of the Czech aircraft producer increased by 29 percent in 2013 compared to the previous year, reaching 3.8 billion crowns. Aero Vodochody has hired nearly 400 new employees this year, while its cooperation with Czech companies has increased by 60 percent over the last two years. Aero’s management recently said the company plans to increase its turnover by more than 100 percent by 2018.
PPF set to take over biggest private chain of medical facilities
Illustrative photo: Filip Jandourek
Czech investment group PPF, owned by the country’s richest person Petr Kellner, is set to take over Agel, the biggest private chain of medical facilities, the daily Mladá fronta Dnes reported on Friday. The majority holder of Agel is Czech steel tycoon Tomáš Chrenek. Agel currently operates 11 hospitals and other medical facilities across the country, including a network of labs and pharmacies. It also runs four hospitals in Slovakia. The company employs 7,500 people and has a turnover of 170,000 patients a year.
Czech online retailers offer Black Friday discounts
Photo: archive of Alza
A number of Czech online retailers have been offering discounts today on Black Friday, the first Friday after Thanksgiving which marks the start of the Christmas shopping season in the US and Canada. The biggest Czech retailers in electronics and other goods, such as Alza and Mall, have also taken part in event, offering significant reductions.
