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October 12th, 2008
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Biz WeekNews & notes | Search restaurants | Archives
DIVIDENDS State-controlled energy giant ČEZ approved a record dividend payout of 20 Kč (97 U.S. cents) a share at the company’s general meeting April 23. The company’s dividends will total 11.8 billion Kč, two-thirds of which will be paid to the government and used for infrastructure. The dividend payout is already reflected in this year’s budget, the Finance Ministry announced. Trade unionists at ETA, the white-goods manufacturer, have called off a strike planned for April 25, after agreeing to a 4.9 percent pay raise. ETA employs 1,100 workers, with an average wage of 15,200 Kč a month, below the regional average of 17,000 Kč. The company had initially offered a 4.3 percent raise. GREEN CARDThe Industry and Trade Ministry will propose a system of green cards for foreigners already living in the country seeking to work legally, Mladá fronta Dnes reported April 20. Applicants for the cards will have to be skilled — preferably with medical or technical training — and hold two-year work contracts. Previously, such contracts were required before workers entered the country. CANCELEDA Polish court has canceled the sale of the bankrupt soda company Hellena to Kofola, the Czech News Agency (ČTK) reported April 19. The court found Kofola’s 125 million Kč bid too low. Hellena’s assets are valued at 949 million Kč, about equal to its current debt. Kofola also has a pending merger with Hoop, Poland’s third-largest soda company. REJECTEDBudvar has won another round in its ongoing dispute with Anheuser-Busch, ČTK reported April 19. Last week, the European Community Trademark Office rejected Anheuser’s application for the Budweiser trademark throughout the European Union. Anheuser-Busch filed the request in 1999. SPASNearly 600,000 people visited Czech spas last year, an increase of 19 percent over 2005, the weekly Profit reports. Germans were the most frequent visitors, with 188,000 guests, followed by Russians, Austrians, Americans and Ukrainians. Spas in west Bohemia, which experienced the highest growth, saw visits from foreigners increase 40 percent. LAYOFFSMittal Steel Ostrava will dismiss 1,000 employees this year, as part of its ongoing efforts to cut labor costs, Hospodářské noviny reported April 19. Three years ago, the company had 11,000 employees; by the end of 2008, it will have 6,500 employees. GREEN TAXThe green tax on energies that the government will impose in January is expected to boost public revenues some 4.3 billion Kč, Deputy Finance Minister Dana Trezziová told reporters April 17. Environment Minister Martin Bursík has said he expected tax revenue would come in at 3 billion Kč a year. Other articles in Business (25/04/2007):
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