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December 2nd, 2008
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  • POWER -
    • Staff disconnected July 10 the second unit at the Temelín nuclear power plant because of a defect in the air system of the second reactor, a spokesman said the same day. Power production at the unit had just been relaunched after being shut down July 8 for a regular check. The spokesman was unable to say when the unit would be repaired.

  • FUEL -
    • OMV of Austria and Polish company PKN Orlen, two of the strongest players on the Central European fuel market, are planning to invest hundreds of millions of crowns in the Czech Republic, Hospodářské noviny reported July 7. PKN Orlen plans to modernize fuel retailer Benzina, which is struggling under billions of crowns of debt, according to the report.

  • FEE -
    • National air carrier Czech Airlines (ČSA) has plans to introduce a seat reservation fee, Týden reported July 10. The fee will be as high as 1,000 Kč for a round trip ticket. ČSA was nearly 500 million Kč in the red last year, and management recently introduced a turnaround plan to return it to profitability before being privatized.

  • CARS -
    • Domestic car manufacturers turned out 230,465 vehicles from January to March, an increase of 85.5 percent from the same period last year. The growth was primarily thanks to higher output at Škoda Auto and operations at the new TPCA plant in Kolín reaching full capacity. The Czech auto industry should see production continue rising, as South Korean carmaker Hyundai is planning to build a plant here in the next two years.

  • RENT -
    • The owners of the country's approximately 750,000 apartments with regulated rent will collect about twice the amount of rent that they get now after deregulation, Lidové noviny reported July 11, citing data from the OSMD association of home owners. Municipalities, which own more than half of these flats, may collect as much as 14 billion Kč ($630 million) a year after deregulation has ended in 2010.

  • BETTING -
    • Czechs spent more than 1.5 billion Kč on bets on the World Cup in Germany, which ended July 9. This is a monthly record for betting volumes in this country and significantly more than analysts expected. Fortuna, one of the country's largest betting companies, brought in 700 million Kč during the event.

  • CONSTRUCTION -
    • Construction output increased 11 percent in May compared with the same period last year, according to data released by the Czech Statistical Office July 11. When adjusted for the number of workdays, the figure is actually slightly higher at 12.1 percent.

  • INFLATION -
    • Inflation in the Czech Republic has increased faster than in many emerging countries, the Eurozone and the U.S. in the past year, the Czech National Bank said in a June 29 meeting, the minutes for which were released July 11. The bank board said May's 3.1 percent inflation was faster than the 2.9 percent predicted in April, primarily because of rising oil prices.


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