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October 12th, 2008

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DROPPED Prosecutors have dropped all charges in the notorious biofuels case, one of the largest allegations of corruption ever made when it was filed in March 2006. Prosecutor Jana Hercegová said available evidence does not prove that three officials of the former Social Democratic (ČSSD) government accepted bribes worth millions of crowns from biofuels entrepreneurs in 2005. The Supreme Public Prosecutor still has the right to reopen the case.

WINE The European Union has discarded its plans to reform the wine market, the daily Lidové noviny reported July 17. Agriculture ministers from across the EU, including the Czech Republic, rejected the reform, which would have revised the subsidies system and banned adding sugar to wine. Only Italy, Portugal, Greece and Spain supported the reform.

DIGITAL Newcomers to the country’s digital television market will no longer have to bid for broadcast licenses through public tender after 2010, the legislative council agreed July 16. The country is migrating to digital from analog broadcasts, which will free up more space in the broadcast

spectrum.

AGREED A group within the Civic Democrats (ODS) will seek several changes to the public-finance reforms in its third reading this August, Deputy Michal Doktor (ODS) told the Czech News Agency (ČTK) July 12. They want to drop the corporate tax rate to 19 percent next year, rather than by 2010, and take individual income tax from gross pay rather than super gross pay; the latter includes employer-paid Social Security and health insurance payments.

PENSIONS Members of a joint commission will look to quickly move pension reforms to the Chamber of Deputies, Labor and Social Affairs Minister Petr Nečas told ČTK July 11. The 10-member commission, which includes members of all five parties, could move the bill within the next few months.

ARMS Czech arms exports were at their highest level in nine years in 2006, according to an annual report on the control of exports military material. Exports increased some 6 percent, to 93 million euros (2.6 billion Kč/$1.9 million). Half of the exports went to Europe and 15 percent to North America, with the rest spread equally about the globe.

GENERALI The financial group PPF and the Italian insurer Generali have finalized an agreement to set up a new joint-venture, Generali PPF Holding, with assets reaching 145.9 billion Kč. PPF controls the largest Czech insurer, Česká pojišťovna. The newly formed company will have more than 9 million clients and is expected to begin operation by the end of the year.

TIMBER Lesy ČR says that last January’s windstorm has cost the country an estimated 2 billion Kč, the daily Hospodářské noviny reported July 16. This damage was largely caused by the drastic drop in timber prices that came from a market suddenly flush with wood from fallen trees. The poor quality of this wood is driving prices down even further.

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