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Business News
In Business News: new legislation should make bankruptcy proceedings run
more smoothly, while a labour code approved this week has been dividing
opinion; the OECD gives the Czech Republic advice on how to improve its
economy; it seems the Czech Republic may renege on a pledge to increase
the share of its power generated from renewable resources; digital
broadcasting can now be received by a third of Czech households; and beer
exports were up 17 percent last year.
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Business briefs
In the business news this week: Czech foreign trade shows its first ever
surplus, the Finance Ministry raises its GDP growth forecast as the crown
hits a new high against the euro, the government promises almost 4 billion
dollars in incentives and Plzensky Prazdroj records a significant increase
in foreign sales.
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The heat is on as rival breweries add a degree
If you have spent time in the Czech Republic, you will know that the beer
comes in degrees. Beers have traditionally been sold either as 10 or 12
degree. This may cause confusion to tourists, who often think it refers to
alcohol content and must wonder how it is that Czechs don't all have
permanent hangovers, but for Czechs "desitka" and
"dvanactka" are very much an institution. Now a 'degree war' has
broken out. In 2002 Drinks Union, decided to go for a new niche market, and
launched its 11 degree Zlatopramen. Market leaders SABMiller have got on
the bandwagon, with their own 11 degree Velkopopovicky Kozel. David
Vaughan asked Lyle Frink what, in today's competitive beer market, this is
all about.
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Czech beer exports reach record figures in 2005
Beer is without a doubt one of the Czech Republic's best-known products. It
attracts thousands to visit the country but Czech brews are also
increasingly available abroad. While domestic consumption remains roughly
the same, export figures are growing by the year. Last year the volume of
exported Czech beer reached a record 3 million hectolitres.
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Busines briefs
Former Prime Minister Gross, Trade Minister Urban asked to testify before
Parliament on Unipetrol privatisation; CTS Corporation of the US to invest
$22m in new electronic components plant in Ostrava region; German retailer
Edeka may exit Czech Republic, denies plans to sell its Polish, Austrian
and Danish outlets; Police bust illegal alcohol production and
distribution network; CNB, financial associations object to Parliament
provision in bankruptcy bill compensating holders of anonymous accounts;
Health Minister Rath wants Parliament to investigate alleged links between
Civic Democrats and 'unfavourable' deals with insurer VZP
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Business briefs
Domestic defence contractors want a piece of the NATO pie; The Cabinet
agrees a comprehensive plan for promoting economic growth; Additional $60
million earmarked in support of Hyundai car plant project; DHL Solutions
to oversee Lego Group toy maker's new European distribution centre outside
Prague; New Agriculture Minister named following scandal at Czech Land
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Business briefs
Parliamentary committee to investigate Unipetrol gets green light; 'Pirate
of Prague' Viktor Kozeny awaiting extradition ruling; Private doctors,
health-care facilities can expect VZP reimbursement next week; Consumer
price inflation up 2.2 percent in September - sharpest increase since
2000; Agriculture Minister looking to increase fines on retailers selling
'rotten' food
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Business briefs
Czech Republic records highest ever budget surplus; Czech farmers opposed
to selling their land to make way for Hyundai car plant; Czech Airlines
lost 464 million crowns in first half of 2005; Norway's Telenor to exit
the Czech and Slovak markets; OMV purchase of Aral filling stations
confirmed; Half of Czech corporate R&D financed by foreign
companies-UNCTAD; Imports of foreign wine up 28 pct y/y - local industry
in 'crisis'
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