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RETAIL In a surprising development, the growth of retail sales slowed in April, the Czech Statistical Office announced June 18. Sales were up only 8 percent compared to last April; in March, sales had increased 9.6 percent. Analysts attribute the slowdown to the early spring, which saw shopping for seasonal goods end unusually early.

CZECHINVENT Radek Novák, former general director of CzechInvest, has launched a new company called CzechInvent, aimed at helping firms finding commercial applications for new technologies, the daily Hospodářské noviny reported June 18. The company’s first office will be in California. Novák left CzechInvest this spring after Industry and Trade Minister Martin Říman dismissed the agency’s CEO, Tomáš Hruda.
COMMITTEE The Civic Democrats (ODS) have created an 18-member committee to work on folding some of the proposals made by party dissident Vlastimil Tlustý into the public-finance reforms, which await a second reading in the Chamber of Deputies. Tlustý, last year’s short-lived finance minister, has been a voluable critic of the reforms, saying they fall short of ODS’s campaign promises.
TREATY The Finance Ministry is looking to revise a bilateral double-taxation treaty the country has with the Netherlands, according to Deputy Minister Dana Trezziová. Under the current treaty, certain kinds of Dutch income, such as dividends, are not taxed in the Czech Republic. More than 40 percent of the country’s expatriated dividends went to Holland last year.
BOUGHT In other Dutch news, the brewer Heineken has bought Krušovice, one of the largest Czech brewers, from the Radeberger Gruppe. The deal, which still requires anti-trust approval in several countries, will make Heineken the third-largest brewer in the country; it already owns Starobrno. Heineken hopes to increase Krušovice’s exports, which grew 36 percent last year.
ORGANIC The Czech Republic has the third-highest percentage of farmland devoted to growing organic goods in the EU, according to numbers released by Eurostat. Some 7.4 percent is devoted to growing food organically, trailing only Austria and Italy. The number of organic farms in the country has doubled in the past two years, according to the Agriculture Ministry.
PPF The PPF financial group plans to invest 4 billion Kč ($186 million) in Romania’s Continental Hotels, Mladá fronta Dnes (MfD) reported June 15. The money, which will buy PPF a one-third stake in the company, will be used to expand the chain’s capacity to 3,800 rooms.
GAS The oil and gas company Moravské naftové doly has begun a new subsidiary, called Gas Storage, which will run the company’s gas storage tanks in the country, MfD reported June 15. A spokesman for the company said it wanted to separate its gas storage, which is controlled by the state, from its other activities.


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