Archive: Business | Finance Finance
Business News
In this week’s Business News: Czech National Bank says inflation is on
track; working pensioners make significant economic contribution; ČSOB
share floatation drifts further away; tourist numbers and stays up in third
quarter; and Czech brewing dominance comes in for unexpected challenges. More
Solar power companies, lawyers predict fight back against government measures to snuff out photovoltaic power boom
Czech lawmakers have taken a big step to put a lid on the country’s solar
power boom. The lower house has voted through a package of taxes hitting
solar companies and power producers to curb electricity price rises next
year. More
Business News
In this week’s Business News: forecasts concur on higher growth this year
but lower next; steel giants agree peace deal; public finances give out
mixed signals; Agrofert arbitration claim suffers setback; and flying the
flag for Czech food and drink. More
Czech electricity companies face multi-billion crown bill for cushioning the solar power boom
Czech energy companies are in uproar over government moves to cushion the
bill for a solar power boom in the country. Basically, the energy companies
are bearing the brunt of frantic government moves to raise cash so that
inflated electricity prices are not passed onto households and businesses.
The power companies are livid, saying the government has not just moved the
goalposts, it has changed the game. More
Business News
In this week’s Business News: Brewers look to price rises in spite of
consumption slump; Prima to hike ad charges by 10 percent; Škoda Auto
doubles profits on record car sales; banks step up home auctions for
mortgage defaulters; and biomass highlighted as next renewable power
problem. More
Business News
In this week’s Business News: central bank governor sees brighter
economic prospects; betting company Fortuna makes successful market debut;
foreigners own almost 70 percent of top companies and half of Wenceslas
square; and religious sites signposted for tourism growth. More
Business News
In Business News this week: the government moves to reign in solar power
subsidies that threaten huge electricity price rises; the price of ČEZ
shares falls with speculation Temelín completion could be put back; Prague
sets rail deregulation in train; and advertisers target patients in Czech
hospital waiting rooms. More
Construction of new blocks at Temelín nuclear power plant might face delays
The Czech state-controlled energy producer ČEZ is considering postponing
the construction of two additional blocks at its Temelín nuclear facility,
the daily Hospodářské noviny reported on Wednesday. The paper says that
the company’s increasing debt and uncertainty over the future of the
electricity market might delay a deal worth of hundreds of billions of
crowns for several years. More
New code strips police of power to examine individuals’ tax returns
One of the tools available to police investigating economic crimes is the
authorisation to look into personal tax data. However, that will no longer
be the case once a new tax code takes effect on January 1, and makes it
impossible for anyone other than the state prosecutor to inspect such
information. The situation has pitted the Interior Ministry, which wants a
last minute change to the approved legislation, against the Ministry of
Finance, which is standing firm on keeping the new tax code. More
Business News
In this week’s Business News: the government wants to keep electricity
hikes at less than 10%; the IEA warns the Czech Republic to focus more on
efficient energy use; one in three companies is looking to recruit; Czech
cities running out of coal; and car sales up in the first eight months. More
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