Archive: Business | Industry Industry
Business News
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
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
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
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
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
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
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
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
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
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
+1
+10
