Deputies adopt legislation to soften ban on 'Svarc system', speed up commercial registrations, allow 'squeeze out' option for majority shareholders; World Bank says creditors in Czech Republic least likely in European Union to recover funds from bankrupt countries; Health Minister to ask for partial bail-out of VZP; $230m positive foreign trade balance recorded for March.
Unemployment in the Czech Republic stood at 9.4 percent in March,
according to figures just released by the Labour Ministry. The new
figures represent a slight drop on February, when unemployment was at
9.6 percent. Some 540,000 Czechs are now out of work. The number of
applicants per job is now 10.1, the lowest number in three years.
Meanwhile, year-on-year inflation in March fell to 1.5 percent, the lowest rate since December 2003.
Cabinet approves sale of Cesky Telecom to Telefonica; Communists want to link confidence vote with bill on assets declaration; Czech Airlines (CSA) buys 12 Airbus planes with aim of competing for European flights, Czech MEPs pushing Brussels for change in distribution of EU funds to poor regions; Zentiva, Pfizer row over anti-cholesterol 'generic equivalent'; Skoda Auto management agrees to workers' 7 pct wage hike
The Czech Republic is not a great example of a multicultural country. While the large ethnic German and Jewish minorities from pre-war Czechoslovakia - have all but disappeared, the country never experienced the kind of large-scale immigration seen in some Western countries after the war. But according new figures published by Czech Statistical Office the situation seems to be slowly changing. There are currently 250.000 foreigners living legally in the Czech Republic, which is six times as many as fifteen years ago.
Employment in high skilled professions in the Czech Republic is below the EU average but higher than in Austria, Spain and Italy, according to European Union Council documents published by the Czech financial internet server Mesec.cz. In the Czech Republic employees in high skilled jobs account for 34 percent, the fifteenth highest figure in the 25-nation block. At the top of the ladder are the Netherlands, Sweden, Finland and Denmark with more than 40 percent. Low-skilled employees make up 45 percent in the Czech Republic. A lower number within the EU can only be found in Italy, Spain, Portugal and Slovakia.
Tens of thousands of Eastern Europeans work in the United Kingdom illegally as seasonal farmhands, in fish-processing factories, on construction sites, in hotels, and the like. Such jobs are in great demand, and swindlers have taken full advantage. A reporter for the BBC recently infiltrated a group who fell victim to false promises of work in the U.K; bogus job mediators — some of them Czech — had been meeting their victims at British airports, taking hefty referral fees, giving contact details for phantom employers — and promptly disappearing,
CNB board takes surprise action to cut interest rates; State to pay nearly 2bn crowns to Akro over 'tunnelled' CS fondy; Microsoft: Czech version of Windows to have validation process this year; Czechs seeking jobs abroad mostly interested in Britain and Ireland; Cabinet approves strategy to increase exports to China
It will take Czechs, Poles and Hungarians decades to reach Western European income levels, according to a study by the Economist Corporate Network quoted in the Czech paper Lidove noviny on Friday. The report suggests the new EU member states will never catch up with Germany in terms of wages, but should reach the same levels as the Spanish and Portuguese in 14 to 18 years.
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