Former Prime Minister Gross, Trade Minister Urban asked to testify before Parliament on Unipetrol privatisation; CTS Corporation of the US to invest $22m in new electronic components plant in Ostrava region; German retailer Edeka may exit Czech Republic, denies plans to sell its Polish, Austrian and Danish outlets; Police bust illegal alcohol production and distribution network; CNB, financial associations object to Parliament provision in bankruptcy bill compensating holders of anonymous accounts; Health Minister Rath wants Parliament to investigate
Doing business in the Czech Republic poses few risks for the foreign investor, but corruption and bureaucracy remain problematic, the British analytical firm Control Risks says in its annual flagship publication RiskMap 2006. The report predicts that the main opposition Civic Democrats will win the June 2006 parliamentary elections but will fail to secure a majority in the 200-member lower house. RiskMap therefore expects the ruling Social Democrats to remain in power as part of a coalition. Whatever the outcome of the elections, the Control Risks firm expects no major reforms before June and a stable economic and business climate.
Farmers 'ready' to accept land swap deal at Hyundai site; Czech household savings rate down 50 percent since 1995; Parliament budget committee proposes lower penalties for unpaid taxes; Czech exporters say corruption a far greater problem than terrorism; Fastest growth of 2005 inflation recorded in October
This year we have had a glorious and mild autumn with few signs of the winter to come. So it seems so much the more strange to see Christmas trees, Santa Claus and jingling bells here in the heart of Prague. Christmas decorations are already going up in shops around the city, and the prize for milking the Yuletide season for all its worth has to go to the Flora Palace shopping centre in the district of Vinohrady. Ever since mid-October it has been decked out in its full seasonal regalia. Alexander Ohrn went down there to see how people feel about
Ceska Sporitelna predicts 2013 Czech entry into eurozone; Initial compromise reached with health insurance companies; Czech Republic has among the highest perceived levels of corruption in the EU; Group of Civic Democrats file criminal complaint over Unipetrol deal; Paroubek says France may be willing to relax labour market restrictions on Czechs; COI imposes record fine on Ahold supermarket chian
The Czech Foreign Affairs Ministry says Iran has not confirmed reports of an imposed trade embargo on the Czech Republic. According to the Iranian and South Korean press, the Czech Republic, South Korea, Argentina, and Britain are to be punished with embargos as they have been critical of the Iranian nuclear programme. Iranian charge d'affaires Said Hoseyn Rezvani has assured the Czech Trade and Industry Ministry that Czech firms exporting to Iran have nothing to worry about. In the first eight months of this year, exports to Iran have totalled some 86.4 million US dollars.
Czech Republic records highest ever budget surplus; Czech farmers opposed to selling their land to make way for Hyundai car plant; Czech Airlines lost 464 million crowns in first half of 2005; Norway's Telenor to exit the Czech and Slovak markets; OMV purchase of Aral filling stations confirmed; Half of Czech corporate R&D financed by foreign companies-UNCTAD; Imports of foreign wine up 28 pct y/y - local industry in 'crisis'
The chief executive of South Korean car-maker Hyundai, Chung Mong-Koo, toured a site in the Czech Republic on Thursday, regional governor Evzen Tosenovsky said. The Czech news agency CTK, citing the Korea Economic Daily, reported that Hyundai planned to invest about 1.9 billion dollars in the Czech Republic, building a plant with annual output of 300,000 cars. Czech officials have declined to comment on the report. Quoting an unnamed regional council source, CTK said that two sites at industrial zones in North Moravia were being considered. If Hyundai decide to locate a new plant in the Czech Republic it would be the country's third car plant after Skoda and TPCA, the joint venture between Toyota and PSA Peugeot Citroen which launched production this year.
There is no saying more well-known in the world of advertising than the old adage "sex sells" and for good reason: sex sells perhaps more than just about anything else. By now, most of us have grown accustomed to the role of sex in advertising, in selling everything from magazines to perfume, to jewellery to clothing. Many have nothing against it or are even in favour, if sensual elements are related to theme and are intelligently and tastefully done. But what about when they're not?