The Prague Post
http://www.aaaradiotaxi.cz/index.php?xSET=lang&xLANG=2
December 3rd, 2008
Endowment Fund     Business Listings ONLINE      Reservations      Classifieds    star Gift Subscriptions
Prague accommodation

Home » Archives » Business

Biz Week

News & Notes
News & notes | Search restaurants | Archives

  • INVESTMENT -
    • Canadian company Frontier Petroleum Services (FPS) is considering filing an international lawsuit against the Czech government for a failed investment in aircraft manufacturer Moravan-Aeroplanes, Mladá fronta Dnes reported April 14. In 2001, FPS invested more than 200 million Kč ($8.5 million) in the company, which is now in bankruptcy. FPS alleges that the Czech government did not protect its investment.

  • WAGES -
    • Wages will increase less than expected this year, according to the latest forecast by the Labor and Social Affairs Ministry. The ministry is predicting a growth of 5.7 percent, compared to the 6.4 percent it forecasted last year. In 2005, the average monthly gross wage increased 5.5 percent to 19,030 Kč and should reach 20,115 Kč this year.

  • RESIGNATION -
    • Alan Svoboda resigned April 13 as vice chairman of ČEZ in connection with insider trading charges. He will keep his position as head of sales and trading but will go on leave for several weeks until "lawyers prove his innocence." Svoboda said he will be able to go back to the ČEZ board once his name is cleared.

  • SALE -
    • Penta Investments sold 98.5 percent of North Moravian Water and Sewer to Aqualia of Spain April 11 for 248 million euros ($300 million/7 billion Kč). Aqualia is one of the three largest water utilities in Spain. Penta is also considering bidding for a controlling stake in Czech truck maker Tatra.

  • INVESTMENT -
    • Television manufacturer Panasonic is considering expanding a production plant in Plzeň, creating as many as 3,000 new jobs, but there might not be enough apartments in the town for the expansion, Hospodářské noviny reported April 10. Panasonic doesn't want to finance the construction of new housing and is trying to get the city or the region, west Bohemia, to pay the bill, according to the report.

  • BANK -
    • Five major foreign banks are interested in buying eBanka from PPF Investment group, Hospodářské noviny reported April 18. Unicredit, Intesa, Banko Popolare di Verona, Raiffeisen International and HSBC are performing due diligence at eBanka before submitting their bids, according to the report. eBanka could go for around 3 billion Kč.

  • PRIVATIZATION -
    • The privatization of Czech electricity giant ČEZ could be completed in four years, Green Party Chairman Martin Bursík said April 17. The country's main political parties, however, are divided on the privatization. The Civic Democrats, Green Party and Christian Democrats want to sell the government's stake in ČEZ, but the ruling Social Democrats and the Communist Party of Bohemia and Moravia want to hold onto the lucrative company.

  • INVESTIGATION -
    • Police are investigating 300 million Kč in payments made by ČSOB in connection with a 10-year contract extension to provide banking services at Česká pošta, Lidové noviny reported April 15. Police suspect part of the money went into a slush fund, but ČSOB has denied the allegation.


    Other articles in Business (19/04/2006):

    Browse the Current Issue

    If you enjoyed this article, why don't you subscribe to the print version!
    We accept secure online transactions provided by PayPal and Moneybookers

    Be the first to add a comment!


    Full Name: *
    City: *
    E-mail: **
    This comment can be published in the print version of The Prague Post
    Enter the text on the right:
    		 visual captcha
    Comment: *
    * Required field. In order to be approved for display, comments must have a first and last name and a city.
    ** E-mails are required and will only be used for internal purposes.

    Most visited in Business Listings

    Hotel booking
    The Prague Post Online contains a selection of articles that have been printed in
    The Prague Post, a weekly newspaper published in the Czech Republic.
    To subscribe to the print paper, click here.
    Unauthorized reproduction is strictly prohibited.