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September 7th, 2008
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SECURITIES A compromise may be possible in a recent plan released by the Finance Ministry that would seek to tax the sale of all securities, Hospodářské noviny reported April 17. The ministry had sought to tax all sales, but could exempt shares that have been held for longer than five or 10 years.

POWER Merrill Lynch has predicted that wholesale electricity rates for 2008 could rise as much as 25 percent compared to this year, Hospodářské noviny reported April 13. For households, this could mean an 8 percent to 10 percent rise in prices. Because of this prediction, Merrill Lynch has listed Czech energy giant ČEZ as one of its recommended energy investments.
ADVERTISING The net income of Czech newspapers and periodicals from advertising rose 10.8 percent last year to 8.5 billion Kč ($408 million), according to a survey conducted by PricewaterhouseCoopers. The survey polled 14 publishing houses, including the eight largest in the country. Since 2001, press advertising revenues have grown 42.8 percent.
UNEMPLOYED The Labor and Social Affairs Ministry has announced that the unemployment rate for March was 7.3 percent, down 1.5 percentage points from last March and the lowest since 2004, when the ministry began using a new calculating methodology. Prague had the lowest unemployment, at 2.6 percent; Most, north Bohemia, had the highest rate, at 18.3 percent.
SODA Czech soft drinks manufacturer Kofola Holding has bought the bankrupt Polish soda company Hellena for 125.4 million Kč, the Czech News Agency reported April 12. In a few months, Kofola will merge with the Polish firm Hoop, and, with this most recent acquisition, the new company will become the second largest in Poland, ahead of Pepsi and trailing Coca-Cola.
TUNNEL The Railway Infrastructure Administration has finalized plans to build a 24.7-kilometer (15.3-mile) tunnel on the train route between Prague and Plzeň, west Bohemia, Hospodářské noviny reported April 12. While expected to significantly reduce the commute time between the cities, the project will cost 30 billion Kč, 10 billion more than expected. Construction should begin in 2010 or 2011.
WIND The amount of power generated by Czech wind farms has grown some 40 percent year-to-year, the daily Lidové noviny reported on April 12. The growth has been buffeted by extremely windy weather blowing steadily from the west. Wind farm operators are convinced this shows that turbines provide a viable power alternative for the country.
RATING Bear Stearns has upgraded its rating of the Czech Republic from “underweight” to “market weight,” the company announced April 10. The country benefited from strong earnings estimates for 2007 and 2008, and also from its move toward public finance reform. Companies rated favorably by the firm include the Orco Property Group and CETV.


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