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Business News

13-04-2012 14:28 | Daniela Lazarová

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

Ahold CEO Jan van Dam on soaring egg prices, expired foodstuffs and the (un)changing taste of Czech customers

04-04-2012 | Jan Richter

Jan van Dam Czech supermarket chains have taken a lot of criticism recently over a series of issues. They are being blamed for the soaring price of eggs, and they have found themselves under increased scrutiny from food inspectors for selling poor-quality and even expired foodstuffs. With the hike in VAT rates and plummeting consumer trust, it seems that 2012 is set to be a tough time for the big retailers. Radio Prague spoke to Jan van Dam the CEO of Ahold Czech Republic which runs one of the biggest supermarket chains in the country, and asked him whether Ahold was cashing in on the soaring price of eggs ahead of Easter.  More

Business News

30-03-2012 16:12 | Sarah Borufka

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

23-03-2012 16:03 | Jan Velinger

In Business News: Industry and Trade Minister confirms that Czech Republic will try and further expand nuclear energy production; Rusatom Overseas signs memorandum with potential subcontractors on Temelín; Škoda Auto sees significant increase in sales in foreign markets; One-third of Czechs will be unable to save a single crown a month this year, poll suggests; and Czech nanotechnology firms make mark in Japan.   More

Eggs in short supply following new EU directive on laying hen welfare

20-03-2012 14:39 | Sarah Borufka

In the Czech Republic, egg prices have increased sharply in recent weeks as a result of a new EU directive that strives to improve conditions in laying hen farms. Since many farmers have failed to implement the new regulations in time, eggs are now in short supply in some countries. Some Czech consumers have even started buying large quantities in neighboring Germany. How will the situation develop ahead of Easter?  More

Business News

16-03-2012 15:14 | Sarah Borufka

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.   More

Business News

09-03-2012 16:50 | Dominik Jůn

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

06-03-2012 14:53 | Dominik Jůn

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

02-03-2012 15:51 | Dominik Jůn

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

Leading economist on austerity package: public sector still squandering money

29-02-2012 17:12 | Daniela Lazarová

The Finance Minister’s austerity plan for 2013, which includes far-reaching measures to increase state revenues and cut public spending, has raised an outcry from the opposition benches with the leader of the opposition Social Democrats Bohuslav Sobotka saying his party would table a vote of no-confidence in the three-party centre-right coalition.  More

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