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May 17th, 2008
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  • FOOD -
    • A poor grain harvest caused by this year's bad weather may result in higher prices for flour, breads and meat, said Agriculture Chamber President Jan Veleba Aug 22. Half of the harvest will be low-quality and farmers estimate sales will be up to 4 billion Kč ($182.1 million) less than last year. The Agriculture Chamber has asked the government for emergency assistance for farmers.

  • Dividends -
    • Publicly traded companies will pay out a record 46 billion Kč in dividends this year, according to a report by the Čekia agency. Last year, those companies paid 23 billion Kč. Companies whose shares are not traded publicly could push the overall total of dividends to 80 billion Kč, some analysts say.

  • Passengers -
    • Prague's Ruzyně Airport saw 6.4 million passengers in the first seven months of this year — an increase of nearly 6 percent on the same period last year. Airport officials expect 11.5 million passengers for the entire year, up from 10.8 million in 2005.

  • EURO -
    • There is no reason to extend the 2010 deadline for euro adoption, Finance Minister Bohuslav Sobotka said Aug. 16. He added that the 2007 state budget draft poses no threat to switching to the currency. The government passed the draft with a deficit that will likely not exceed 88 billion Kč ($4 billion). Euro adoption should be a priority for the next Cabinet, Sobotka said.

  • OUTPUT -
    • Czech tool machine makers raised first-half output nearly 20 percent this year, producers said Aug. 16. Total production was worth nearly 4.6 billion Kč during the beginning 2006. Producers saw the biggest growth in grinding and sharpening machines, which increased by 74 percent. Exports of metal-working machinery rose by 13 percent.

  • PROFIT -
    • Engineering company První brněnská strojírna (PBS) Třebíč generated sales of 457 million Kč in the first half of this year, CEO Ladislav Houžva told the Czech News Agency Aug. 16. The company also saw a profit of 25 million Kč — an 80 percent increase from a year ago. PBS exports 85 percent of its output, mainly to France, Germany and Austria.

  • REGISTERS -
    • The Civic Democrats (ODS) are seeking to delay the introduction of mandatory state-monitored cash registers for one year. The ODS submitted the request to the Chamber of Deputies Aug. 15, which would push back the deadline for the change to Jan. 1, 2008. The amendment has the support of several party leaders, including Social Democratic Chairman Jiří Paroubek.

  • DEBIT -
    • The consumer electronics chain Datart became the first retailer to offer cash-back services here, but the offer only applies to the few thousand people who are Cetelem cardholders. The company will allow customers to receive up to 5,000 Kč. ČSOB is scheduled to launch a service at Albert and Hypernova stores in October allowing its cardholders to get up to 1,500 Kč back.


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