Archive: Business | Industry Industry
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.
More
Government officials at odds over country’s export strategy
Two Czech ministers have clashed over how the government should support the
country’s exports. Foreign Minister Karel Schwarzenberg, whose office has
put a lot of effort into promoting Czech businesses abroad, dismissed a new
export strategy designed by the Industry and Trade Ministry. In spite of
the squabbles, however, the government’s support for exporters is bearing
fruit: Czech exports have reached record levels and are a major driving
force behind the Czech economic recovery. More
Radioactive Waste Depository Authority launches multi-million-crown incentive to win over municipalities for possible nuclear waste sites
While the Czech Republic relies on nuclear power for some 30 percent of its
total energy supply, the Radioactive Waste Depository Authority is facing
difficulties in finding new locations for depositing nuclear waste. As an
incentive for municipalities to agree to geological research on their
territory, the state-run authority is now offering mayors millions of
crowns. Sarah Borufka has the details. More
Business News
In this week's Business News, the Czech Republic sees a fall in truck
production; household spending stagnates; January sees inflation up again;
social security finds itself in the red for three years in a row and
supermarkets are caught re-labelling out-of-date food. More
PM tells European-bound Czech exporters to look further afield
The Czech government on Monday unveiled a new export strategy that is to
help Czech exporters find new, fast-developing markets. The move aims to
boost the country’s economic stability amidst concerns over the deepening
debt crisis in the euro zone. More
Car manufacturers in Czech Republic to roll out new mid-priced vehicles in 2012
Despite gloomy news and grim forecasts almost all around these days one
sector of the economy - namely the automotive industry – is in top gear.
In 2011, two out of three manufacturers – Hyundai and Škoda Auto exceeded
previous expectations, and while TPCA suffered a drop in production, all
three together produced a record 1,186,000 vehicles. And they are gearing
up for an equally good year in 2012, reading to launch mid-priced new or
revamped models aimed at both the domestic market and markets abroad. More
Business News
In today’s business news: Consumer prices have risen by 4.7 percent
following a VAT hike, the American Anheuser-Bush purchases the
Budějovický měšťanský brewery in hopes of improving its chances in an
ongoing trademark dispute, public health insurer VZP may see a budget
deficit of up to three billion Czech crowns in 2012, regular and diesel
fuel reach record prices, and the forecast for the Czech construction
sector for 2012 is the worst among the Visegrad Four. More
Business News
In this week’s business news: An increase of the lower category VAT has
gone into effect, Czech online discount sites see steep increases in sales,
hard liquor consumption is on the decline, Škoda Auto has sold a record
number of cars in 2011, and the Czech Agriculture and Food Inspection
Authority says that 15 percent of food products it inspected in 2011 failed
to meet its quality standards. More
Bureaucratic goof could cost country billions of crowns
What appears to be gross bureaucratic incompetence may cost the Czech
Republic billions of crowns. The country’s belated bid to become a party
in the ongoing criminal case against the former managers of the Czech
mining firm Mostecká uhelná, involving billions of crowns now frozen in
Swiss bank accounts - has been thrown out by a Swiss court, leaving the
Czechs out in the cold. More
Business News
Economy grows by 1.2% in 3Q; criminal liability for companies passes
parliament; fifty billion crowns in deals for Czech and Russian businesses;
inflation accelerates to 2.5%; construction continues decline. More
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