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Business News
In this week’s Business News: Czech economic confidence takes fresh hit;
Škoda reports strong sales and increased profits; the government is to
increase the country’s petroleum reserves; Unipetrol reports significant
losses; a survey finds that cleaners and politicians are the Czech
Republic’s least prestigious professions and a Finance Ministry report
says that taxing betting winnings is not viable.
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Business News
In this week's Business News: the government reduces its forecasts for
deficit reduction; the Finance Ministry predicts slower growth; Moody's
affirms the Czech Republic's stable rating; Koh-i-noor is to purchase a
French gas company; the country's water management authority commissions a
study into a massive canal project and the country's construction sector is
hit by the weak economy. More
Business News
In this week's Business News: Škoda defies the weak economy with record
car sales; the Czech Transport Ministry says it will accept financial
claims caused by the vehicle registration meltdown; summer storm damages
reach half a billion crowns; Czech debt reaches 1.6 trillion despite
austerity; inflation rises in June and Czech Railways selects companies for
train maintenance contract.
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Energy firm ČEZ gets three bids for Temelín nuclear plant expansion
The biggest public procurement project ever held in the Czech Republic
entered a new stage when earlier this month, the state-owned energy firm
ČEZ received three bids to build two new blocks at the Temelín nuclear
plant. The winning bid should be announced next year, while the project,
estimated to cost between 200 and 300 billion crowns, should be finalized
by 2025. 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
Support for human rights hurts Czech business in China, says manager of Czech firm in Kunming
One of the Czech companies which successfully launched an operation in
China is the machine tool producer TOS Varnsdorf. In 2006, the firm
invested some 2.5 million euro to form a joint venture company TOS Kunming.
In this edition of Marketplace, the firm’s financial director Stanislav
Linc talks about doing business in China, hiring Chinese employees, and how
the Czech government supports Czech businesses in that country. 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
Head of government energy commission: Share of nuclear power in Czech Republic’s energy mix should grow to about 50 percent
Václav Pačes, the head of a government-appointed energy commission, has
presented his suggestions for the future energy policy of the Czech
Republic. Among them is an increase in the share of nuclear power in the
country’s energy mix of to up to 50 percent over the next few decades. We
spoke to Chris Johnstone, who has been covering the Czech energy market
extensively for many years, about the significance of Mr Pačes’s
proposals, the future of nuclear power and some of the challenges that lie
ahead. 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
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