The Czech Republic does not have a rosy reputation for its past treatment of small or minority shareholders. Many have been treated poorly when ‘squeezed out’ by the majority owners. And the moves by PPF, the majority owner of telecoms giant O2, has raised suspicions they are getting a raw deal again.
Twenty years ago no self-respecting beer drinker in the Czech Republic would be seen dead swigging beer from a can. There was a widespread perception that bottled beer is superior and beer in cans loses its quality, tasting flat and acquiring a metallic tang. That is fast changing and breweries are expanding their packaging capacities to meet growing demand for canned beer.
GE Aviation’s Czech’s unit specializes in the type of turbo-prop engines used by business aircraft and those making fairly short city to city hops. Business was good last year with 80 aero engines sold, an increase of around 30 percent on 2013. That took 2014 turnover to 1.2 billion crowns compared with 860 million crowns in 2013.
The European Commission has lifted a two-year- freeze banning the Czech Republic from accessing funds from the EU’s Operational Program for Enterprise and Innovation. The move was made in connection with a number of dubious public tenders and it left the Czech Republic financing all ensuing projects from state coffers.
Language exams for foreigners seeking permanent residency permit to become tougher
Czech teenager builds second-largest ever Millennium Falcon LEGO model
Gunman kills six patients in Ostrava hospital, two more fighting for their lives
Press: Era of 100-crown lunch special is over, as food prices rocket
HN: Developers aiming to sell co-living concept in Prague