Archive: Business | Transport Transport
Farmers to protest slashing of biofuel subsidies using tractors to slow traffic on country’s roads
Czech farmers on Wednesday will be taking part in a planned protest against
the government’s decision to slash tax refunds on biofuel. The move by
the government – part of broad austerity measures – is expected to
leave agricultural producers in difficult spot: some 1.5 billion crowns
lighter. The protest will see hundreds of farmers roll out their tractors
on roads across the country, with the exception of highways and the Czech
capital. More
Business News
In this week’s Business News: the most absurd bank fee is announced; a
study finds that a third of young Czechs are working flexible hours; fears
that eurozone unemployment could hit Czech exports; the Finance Ministry is
seeking to lure investment funds into the country and Czech Railway
cutbacks mean fewer train conductors. More
Business News
In today’s business news: The head of the Erste Group predicts an
economic revival in the Czech Republic for the second half of 2012, foreign
direct investment into the country has reached 2.5 trillion Czech crowns
since 1993, carrier Czech Connect Airlines has filed for bankruptcy, a
SANEP poll finds that the majority of Czechs think the country’s
billionaires are corrupt, and food inspectors have confiscated 2.5 tons of
spring rolls containing mice droppings. More
Struggling Czech Airlines to dismiss one-third of pilots
The struggling state-owned carrier Czech Airlines announced on Monday it
will a dismiss a third of its pilots as part of restructuring plans, with
some receiving their pink slips as early as this week. According to the
firm, up to 100 pilots will be let go, although, the company suggests the
cloud may have a silver lining: the possibility of further employment with
subsidiary company Holidays Czech Airlines. The catch is that working for
the subsidiary will be nowhere near as lucrative, offering significantly
lower salaries. More
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
The new kid on the rails is already looking further afield; Česká
spořitelna sues to cancel Sazka tender, unsuccessfully; the government
approves ambitious competitiveness strategy for 2012 to 2020; foreign debt
rises by 32.2 billion; 15 years of GDP revised to account for drugs,
prostitution. More
New yellow trains take on king of the rails
It was an historic day for commuters Monday as the first RegioJet train
rolled on to the tracks, the first ever challenge to the state-owned Czech
Railways. Though the brand new RegioJet has only three trains, travellers
from Prague to Ostrava or vice versa now have a choice of services for the
first time, and it looks like the competition is going to get interesting. 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
Tunnelling work completed at Blanka
Construction workers in the Czech capital on Monday removed a final cubic
metre of earth from the city’s Blanka tunnel – built to streamline
traffic through busy parts of the city. The end of tunnelling means that
traffic restrictions in several above ground areas will now be lifted. But
work on the tunnel itself is far from finished. 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
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