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Business News
In Business News this week: Czech government approves austerity measures
but might run into problems securing EU funds; PM Nečas speaks of the
consequences a Greek exit from the eurozone would have on the Czech
Republic; the biggest Czech betting firm Tipsport buys its competitor;
Czechs smoke less and most of them want a ban on smoking in public spaces;
Czechs lie in their CVs more than other nations. More
Business News
In Business News this week: the government approves a far-reaching fiscal
consolidation plan to reduce the state budget deficit, a drop in deliveries
of Russian crude oil to the Czech Republic triggers speculation of a plan
to up the price and Škoda Auto posts record sales. More
Business News
In Business News this week: Czech industrial production speeds up; most
Czech companies want to hire employees as contractors; Saturday shifts at
Škoda Auto end over labour dispute, the North American brewing giant
Molson Coors buys Staropramen; and Prague’s Ruzyně airport marks 75
years since the first landing.
More
Business News
In this week’s business news: The Czech Republics foreign debt has
reached 1.873 trillion crowns, a survey finds Czech salaries are above the
international average, a shortage of white eggs is likely to hit the
country over Easter, the popularity of specialty brews is on the rise and
Prague’s Four Seasons hotel goes on sale. More
Business News
In this week’s business news: Czech banks are getting ready to sign off
on what could be the largest-ever club deal, negotiations between Škoda
Auto management and unions continue, the Czech Agrarian Chamber’s
president has said that egg prices will stabilize, the cost of fuel has hit
a record high and the American coffee retailer Starbucks has opened its
first Czech branch outside of Prague.
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Business News
In this week’s Business News: the Czech Republic finds itself in a
recession; women are earning a quarter less then their Czech counterparts;
bankruptcy declaration reach a four year high; computer sales are set to
soar in 2012 and a new law is giving the government the muscle to tackle
shady employment practices. More
Trade union group fears that government cuts will weaken stagnant Czech economy
The Czech government is debating continued austerity measures, hoping to
save 23 billion crowns in 2012, 42.4 billion in 2013 and a whopping 84.4
billion in 2014. But the plans have been met with opposition from trade
unions, who are highlighting that the cuts could lead to as many as 24,000
public sector job losses and include layoffs of as many as 17,000 teachers
as well as 3,500 police officers within the next two years. Jaroslav
Zavadil, head of the Czech-Moravian Confederation of Trade Unions recently
called this “a path to hell, which will destroy the public sector.” More
Business News
In this week’s Business News: the most absurd bank fee is announced; a
study finds that a third of young Czechs are working flexible hours; fears
that eurozone unemployment could hit Czech exports; the Finance Ministry is
seeking to lure investment funds into the country and Czech Railway
cutbacks mean fewer train conductors. More
Constitutional Court defies EU with ruling on Czech-Slovak pensions
The Constitutional Court on Tuesday made a landmark ruling regarding the
difference in pensions between the Czech and Slovak Republic. Cases exist
where Czechs who worked in the other half of Czechoslovakia now receive the
lower pension rate of the Slovak Republic. According to the new decision of
the court, such citizens never worked in a foreign country and thus are
entitled to compensatory payments to raise their pensions to Czech
standards. Among the chaos this creates for the Social Affairs Ministry now
is that fact that the ruling directly contradicts the European Court of
Justice. More
Business News
In Business News: The government debt has reached almost 40 percent of the
GDP; unemployment in January rose to 9.1 percent; the Czech state loses an
estimated 25 to 30 billion crowns every a year on account of tax evasion;
union representatives have rejected a 2.5 percent salary bump offered by
car manufacturer Škoda Auto; the sale of winter clothing and apparel –
including winter wear for dogs – has jumped markedly in the cold snap. More
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