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Business News

10-02-2006 13:07 | Ian Willoughby

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.   More

Government scrambles to save troubled LG Philips Displays

01-02-2006 15:10 | Jan Velinger

Photo: CTK For some 1,300 workers last week as well as the Czech government the suspension of production at the country's LG Philips Displays plant - the 2nd largest investment project in the country - came as a shock. With parent company LG Philips Displays Holding filing for bankruptcy, the obvious question was: would the subsidiary company follow suit? The Czech government - specifically the Ministry for Industry and Trade - has been trying to prevent just that.  More

2006 to bring higher social benefits, more expensive utilities

28-12-2005 14:37 | Pavla Horáková

This Sunday, New Years Day, will find many Czechs - like people around the world - making New Year's resolutions. But they won't have any say over some changes, which have been decided by Parliament and come into effect on the 1st. Understandably, people are most concerned about those which will have a direct impact on their wallets. 2006 is going to bring an increase in a number of social benefits and also a reduction in taxes for low and medium incomes. But as of January, Czechs will pay more for utilities - which is expected to bring further price increases of goods and services.   More

Business briefs

16-12-2005 14:55 | Brian Kenety

Deadline approaching on land-swap deal at proposed $1.2bn Hyundai car plant site; Hourly wages in Czech Republic among the lowest in the OECD; If 'old' EU members keep controls, Czech Republic also will consider labour restrictions against states joining in 2007; Survey shows Czech firms are among Europe's most chronically late payers; Cabinet expected to decide on funding for new Brno medical-research centre this month; Former president Havel weighs in against extending territorial limits on coal mining  More

New Czech Labour Code mobilises trade unions into action after sixteen year slumber

29-11-2005 15:41 | Dita Asiedu

The Czech Labour Code is to be amended - but the question is how? Will it serve the rights of the employer or the employee? The changes proposed by the senior ruling coalition party, the Social Democratic Party, and passed through the first reading in the lower house of Parliament, uphold the authority of trade unions. That, say the opposition Civic Democrats and the two junior ruling coalition parties the Christian Democrats and the Freedom Union, is unacceptable: by making it difficult for employers to let go of unproductive staff and employ new people, the proposed new Labour Code threatens the flexibility of the labour market and is unconstitutional.   More

Business briefs

04-11-2005 13:41 | Brian Kenety

CNB rate increase catches market off guard; Minimum wage set to increase 6.6 percent; Microsoft and CzechInvest plan top open 'innovation centre'; Netherlands may fully open labour market to Czechs; Proposed extension for restitution claims fails to pass   More

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