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Business News
Regional Development Ministry says system of drawing EU funds is fixed;
external debt grew by 33.7 billion in first quarter; household indebtedness
grew by 3.6 billion from April to May; Nečas says impacts of EU summit
measures will be limited; Czech National Bank cuts interest rates by
quarter percent. More
Business News
In Business news this week: Czech public debt is the second smallest in the
EU but the gap widens between the country’s GDP and EU average; Škoda
Auto seeks factories to produce its new SUV model; government plans to cap
salaries of state-owned firms; Czech Post suspends deliveries to Syria; and
a new study predicts how many medals Czech athletes will win at London
Olympics. More
Business News
In Business News this week: Czech economy contracts less than previously
expected in the first quarter of this year, with more new jobs in May;
lawmakers end the monopoly of Czech Post; new study finds how much dropping
education standards cost the economy; a coal war breaks out between Czech
billionaires; and a new glassworks opens in Světlá nad Sázavou. More
Business News
The manufacturing sector hits its lowest point in three years; the
government approves legislation banning anonymous bearer shares; the
Finance Ministry expects the public finance deficit to drop to 3% GDP this
year; new law on emission fees ratified; the Czech Republic’s
international competitiveness slips for the third year. More
Farmers to protest slashing of biofuel subsidies using tractors to slow traffic on country’s roads
Czech farmers on Wednesday will be taking part in a planned protest against
the government’s decision to slash tax refunds on biofuel. The move by
the government – part of broad austerity measures – is expected to
leave agricultural producers in difficult spot: some 1.5 billion crowns
lighter. The protest will see hundreds of farmers roll out their tractors
on roads across the country, with the exception of highways and the Czech
capital. More
Business News
In Business News: the Czech economy contracts by 1.0 percent in the 1Q, the
second-worst result among 19 EU states; the country’s ombudsman slams the
government’s social system reforms, saying they have left thousands on
the brink of poverty; the price of Czech garlic is set to go up; Czechs are
budgeting more carefully and buying less when shopping in supermarkets than
in previous years. More
Constitutional Court upholds solar tax
The Czech Constitutional Court has upheld the government’s tax on solar
power, introduced retroactively last year in an effort to cool the solar
boom in the country. Photovoltaic firms complain the tax damages their
business while foreign investors into the business are threatening to
initiate international arbitrations against the country. But the court said
their interests cannot be superimposed over those of Czech citizens. More
Czech shareholders ripped off by Kožený could gain from sale of Aspen chalet
Czech shareholders who lost millions of crowns to controversial businessman
Viktor Kožený in the 1990s, have a strong chance of getting back partial
compensation. There is a new possibility that the equivalent of around half
a billion crowns gained from the sale of Mr Kožený’s Aspen chalet in
the US, could be transferred to the Czech Republic. Shareholders have 10
days in which to file a formal request. More
Business News
In this week’s business news: the Greek ambassador to the Czech Republic
has said that Greece must remain in Eurozone, the daily Lidové noviny
writes that ČEZ may loose up to ten billion Czech crowns due to
investments into Albania’s power grid, Russia’s oil delivery to Czech
Republic is likely to fall short of target in May, the Finance Ministry is
selling state bonds, and Czech Railways expands its fleet. More
Business News
The procurement market sank by 100 billion in 2011; the production of
passenger cars hits a record; farmers prepare for blockades; the Finance
Ministry forecasts nearly three percent growth for 2015; the Central bank
keeps interest rate at record low.
More
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