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November 21st, 2008
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WAGE - Labor Minister Zdenek Skromach has proposed raising minimum wage by 475 Kc ($20.00) to 7,660 Kc a month starting in January. The minimum wage would increase by another 475 Kc in July. The minister believes the measure will encourage low-skilled people to seek employment rather than rely on social welfare benefits.

SALES - Sales at the Prague Congress Center increased 14 million Kc to 307 million Kc in the first half of the year. The center organized 197 conferences, an increase of 25 over the same period last year, director Michal Kárník said at a recent press conference. The center, however, posted a loss of 89 million Kc in the same period.

FUEL - Five suitors, including Unipetrol, have submitted bids for the purchase of 69 gasoline stations owned by Aral in the Czech Republic. Aral announced in January its plan to sell its stations here by the end of the year. At the beginning of 2005, the company controlled nearly 10 percent of the domestic market.

OPPORTUNITIES - U.S. companies are keen to make investments here, according to Martin Tlapa, deputy industry and trade minister. The American delegation visited the Czech Republic the week of Aug. 22 in search of new business opportunities. They were most interested in outsourcing and using the Czech Republic as an operational hub within the European Union.

JETS - The government's debt will grow by 10.3 billion Kc thanks to the Air Force's purchase of 14 Jas-39 Gripens and a Swedish fighter aircraft, the Czech Statistical Office reported. The total value of the contract, including services such as repairs and training connected with the deal, is 19.65 billion Kc.

BEER - Beer exports are expected to rise to approximately 3 million hectoliters (80 million gallons) this year from 2.64 million hectoliters last year, according to the Czech Association of Breweries and Malt Houses. The country is one of the 10 largest beer exporters in the world. The majority of beer exports, around 39 percent, go to Germany.

SQUEEZE - It would cost as much as 13 billion Kc for owners holding stakes above 90 percent in Czech companies to squeeze out minority shareholders, according to Cekia, which keeps databases of business and economic data. The government included the squeeze-out provision, which allows majority shareholders to buy out minority owners, in the Commercial Code earlier this year.


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