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Business News

14-10-2011 15:58 | Jan Velinger

Temelín nuclear power plant In Business News: A Russian consortium is reportedly the most likely to win an upcoming tender on the expansion of the Temelín nuclear power plant; sources report an uptick in Russian FDI; Czech Railways announces the aim to sell off property worth 90 million crowns; the first Škoda Citigo – a new small vehicle intended for zipping in-and-out of city traffic –rolls off the assembly line; and, the transport minister proposes a new fee for vanity licence plates.  More

Business News

16-09-2011 15:59 | Daniela Lazarová

In this week’s business news: the unexpected resignation of ČEZ CEO Martin Roman, the opening of the first gas pipeline between the Czech Republic and Poland, the Czech Finance Ministry to launch a pilot issue of retail bonds and Czechs increasingly sceptical with regard to the future of the Eurozone.  More

ČEZ general director suddenly quits

15-09-2011 16:20 | Christian Falvey

Martin Roman, photo: CTK Investors, politicians and the public were taken aback on Wednesday by the news that Martin Roman, the 42-year-old general manager of power company ČEZ, was stepping down, also leaving the company’s board of directors. Mr Roman leaves his post after seven years reportedly of his own initiative, and will be taking up a position on the company’s supervisory board. Shares in ČEZ teetered slightly on Thursday with the announcement, and word that the new ČEZ chief would be second in command Daniel Beneš. Meanwhile, analysts have gone into high gear assessing what the change of management might mean for the largest public utility company in Central Europe. That was the question we put to financial journalist Chris Johnstone of Czech Position.  More

Business News

09-09-2011 15:28 | Sarah Borufka

In this week’s business news: Czech GDP growth slows in the second quarter of 2011, the Prime Minister admits that raising the lower VAT rate to 19 percent in 2012 is a possibility, Student Agency’s RegioJet launches its ticket sales for the Prague-Ostrava route, Škoda Auto saw a sales growth of 18.3 percent in the first eight months of 2011 year-on-year, and the Czech Republic slips two notches in the WEF Global Competitiveness Report.  More

Toasting three decades in brewing: beer and malt association director Jan Veselý

05-09-2011 15:52 | Chris Johnstone

Jan Veselý, photo: CTK One man who probably more than anyone else can claim to represent one of the Czech Republic’s biggest success stories ― beer ― is Jan Veselý, general director of the Czech Beer and Malt Association. The association groups the biggest Czech breweries and hop producers. In today’s programme, Mr. Veselý talks about the massive changes he has witnessed in the industry which had moved from the planned economy to privatization and the take off of micro-breweries.  More

Business News

02-09-2011 | Sarah Borufka

The Czech Parliament is voting on a change in value added tax on Friday, the Czech central bank has launched an investigation into energy supplier ČEZ in connection with a leak of its earnings report, the carrier CŠA will start operating regular direct flights to Tel Aviv, as part of an EU directive 60-watt light bulbs were taken off the market in the Czech Republic on Thursday, and the Michelin-starred Four Seasons Hotel in Prague will have a new chef starting October.  More

Business News

19-08-2011 15:15 | Christian Falvey

Photo: European Commission Reuters says Czech ministries want free emissions vouchers for power producers; economy grew by 2.4% in the last quarter; the court approves the sale of Sazka by tender; woeful 2Q results for ČEZ; and the central bank says the country will have met the conditions for adopting the euro next year.  More

Unemployment and industrial output figures point to slow-down of Czech economic recovery

09-08-2011 15:29 | Sarah Borufka

Amidst fears of a new wave of global recession, the Czech economic recovery shows signs of slowing down, with industrial output decreasing in June and unemployment on the rise in July. According to data released by the Labor Ministry, the unemployment rate grew slightly to 8.2 percent in July, the first time the figure has swelled since the start of this year. Similarly worrying is a slow-down in industrial output with a growth of only 7.4 percent year-on-year in June as compared to 15.2 percent in May. I spoke to the Raiffeisenbank’s chief economist Pavel Mertlík about the significance of these figures and how a possible global economic recession might affect the Czech Republic.  More

Business News

05-08-2011 15:46 | Jan Velinger

In Business News: Prague bourse sees trading drop in face of worries over new economic downturn; Czech Railways weighs the controversial purchase of 16 new trains at the cost of five billion crowns; leading commercial vehicle manufacturer DAF acquires a 19-percent stake in Tatra trucks; sources report that at least two firms have applied to launch exploratory operations in search of new shale gas reserves.  More

Business News

29-07-2011 15:28 | Jan Richter

In Business News this week: foreign investment in the Czech Republic rises to pre-crisis levels; the country’s grey economy amounts to 565 billion crowns; the Transport Ministry plans to raise road toll by 25 pct next year; decrease of new cars’ prices in the Czech Republic are among fastest in Europe; debts of Czech household keep rising and are more difficult to collect; and the famed Czech distiller Rudolf Jelínek is moving its headquarters to Holland.  More

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