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September 8th, 2008
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  • BUDGET -
    • Finance Minister Bohuslav Sobotka released a draft of the 2007 state budget Aug. 15 that includes a deficit of 88 billion Kč ($4 billion). The proposal projects 5 percent economic growth, 2.8 percent inflation and 7.4 percent unemployment in 2007.

  • DISTILLERY -
    • PLP started construction of a bioethanol and biomass distillery in Trmice, north Bohemia, Aug. 14. Production at the facility, which should produce 80,000 metric tons (88,185 short tons) of ethanol a year, should begin in August or September. It will employ 80 people.

  • PRESS -
    • Axel Diekmann, former owner of the Sparta Praha soccer team, is buying the largest Czech printing house, Svoboda Press, Týden reported in its Aug. 14 issue. The deal is awaiting approval by the Anti-Monopoly Office. Svoboda Press has a staff of around 400.

  • PRAGUE -
    • Prague has the highest standard of living among all capitals in post-communist countries, according to a survey by Swiss bank UBS, Lidové noviny reported Aug. 10. The bank evaluated prices, incomes and purchasing power in 71 capital cities around the world. Prague's advantage is its central location in Europe, which lowers corporate transport costs, according to the report.

  • TV NOVA -
    • TV Nova is changing its structure to prepare for the introduction of digital television, Chief Executive Office Petr Dvořak said Aug. 10. The company, owned by U.S. media group Central European Media Enterprises, would like to grow to five or six stations as part of the restructuring. The Czech Telecommunications Office announced a timetable earlier this month for the launch of digital television that comes with the end of analog broadcasting in 2010.

  • ACQUISITION -
    • Liberty Global, the owner of UPC, the country's largest cable television provider, will buy the No. 2 player on the market, Karneval, for 322.5 million euros ($416 million/9 billion Kč), Liberty Global announced in a press release Aug. 10. The deal, which is still subject to review by the Anti-Monopoly Office, should be completed by the end of the year.

  • BACHELOR -
    • A poll by SC&C found that women consider Patrik Tkáč of the J&T financial group the country's fifth most eligible bachelor. He follows actor Marek Vašut, hockey star Jaromír Jagr, soccer player Milan Baroš and filmmaker Filip Renč. Ivo Lukačovíč of Seznam ranked No. 1 among women with a university education.

  • TAXES -
    • State budget revenues will be 25 billion Kč higher than expected next year, and Czechs will pay a record 515 billion Kč in taxes, 40 billion Kč more than planned, according to the latest estimates by the Finance Ministry reported in Mladá front Dnes Aug. 14. This year, the government is expected to bring in 15 billion Kč more than projected in tax revenues.

  • BILLIONAIRE -
    • Petr Kellner of the PPF group ranks atop the country's top 100 billionaires, with assets estimated at 80 billion Kč, Týden reported in its Aug. 14 issue. He is followed by financier Pavel Tykač and Andřej Babíš, the owner of Agrofert Holding, whose assets are estimated at 25 billion Kč.


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