Archive: Business | Business Business
Czechs and Poles to boost food safety links
In a meeting in Prague on Monday, the Czech and Polish agriculture
ministers addressed a long-running dispute over the quality of Polish food
imports to the Czech Republic. In what may prove to be the first step to
defusing the row, the Czech agriculture minister, Petr Bendl, and his
Polish counterpart, Stanisław Kalemba, have agreed to boost cooperation
and to improve the exchange of information between their food inspection
agencies. More
Business News
This week in Business News: The construction sector in the Czech Republic
is expected to restart growth in 2014; Škoda Yeti was voted the most
popular car by British car owners; ČEZ has asked two remaining contenders
in the Temelín expansion deal to submit better offers; Economic confidence
is down in April, after two straight months of improvement; The Federation
of Food and Drink Industries wants to introduce stricter rules on product
labeling; Trade unions and employers reach no agreement on minimum wage
increase. More
Business News
In Business News: The EC proposal to lower the ceiling on business
incentives could severely undercut investment in the country, the Czech
Statistical Office posts the highest Czech current account on record, a
Czech district court passes a breakthrough verdict in a dispute over bank
fees and one in twelve Czechs now have a problem repaying their debts. More
Ex-CEO of bankrupt lottery firm faces lawsuit by former shareholders
The former CEO of the Czech lottery firm Sazka, Aleš Hušák, is facing a
lawsuit by the company’s main shareholder, the Czech Sports Association,
over his role in the company’s demise. Sazka’s bankruptcy severely
undermined funding for Czech sports and the association is now demanding an
apology and one billion crowns from Mr Hušák. More
Czech-Polish food row heats up
The drawn-out Czech-Polish dispute over the quality of food imports this
week reached a new level after Polish officials accused the Czech
authorities and media of waging a campaign aimed at hurting Polish food
sales in the country. Czech officials, meanwhile, complain about poor
quality of some Polish foodstuffs, and say inspections prove they fail to
meet set standards much more often that Czech products. More
Škoda hopes for another year of record sales in 2013
The car manufacturer Škoda Auto has seen another year of record sales and
growing revenues. In 2012, the German-owned, Czech based car producer sold
nearly 940,000 cars world wide, mainly thanks to its expansion in China,
Russia, and India. And the manufacturer hopes to set a new sales record
this year, despite an expected slowdown in the first six months. I spoke to
analyst Jiří Šimara from the Brno-based brokerage firm Cyrrus about
Škoda’s performance in 2012. More
Business News
In Business News this week: Korean Airlines are to acquire a 44 percent
stake in ČSA; Česká Spořitelna planning lay-offs despite high profits;
despite efforts to find new markets, the Czech economy remains heavily
dependent on export to EU states and two Prague restaurants hold onto their
Michelin stars. More
Czechs face biggest unemployment rate since Great Depression
Unemployment in the Czech Republic hit a record high at the start of the
year. January saw close to 590,000 people out of work, the worst
unemployment rate since the Great Depression in the 1930s. The government
says this is largely the result of external factors, but critics and trade
unions claim the government’s ill-conceived austerity measures have
undercut growth. More
Business News
In Business News this week: The current Czech recession equals in length
the longest previously recorded; the industry minister says the government
will look into the issue of excessively high prices set for solar power;
Becherovka loses CZK 100 million due to a spirits ban; and art collectors
have spent in CZK 5.4 billion at Czech auctions in the last decade. More
Bill curbing anonymous shares faces legislative hurdle
The Czech Republic is one of three countries in the world that allows
companies to issue anonymous bearer shares which has long been considered a
major hurdle in the fight against corruption. Czech lawmakers have now
moved to end the practice – but draft legislation that would reveal
bearer shares’ owners was stalled in the lower house this week when it
ran into subtle opposition by a group of Civic Democrat deputies. MV has
the details. More
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