The Prague Post Online: Business: Biz Week

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August 30th, 2008

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CANCELED Defense Minister Vlasta Parkanová has canceled a recent tender launched by the ministry for four armored personnel carriers worth some 100 million Kč ($4.8 million) in total, the daily Právo reported Aug. 21. According to the ministry, none of the three bids failed to meet the tender’s requirements. The country will now look abroad for these carriers.

KAPSCH The Austrian firm Kapsch will extend its microwave electronic tolling system to all motorways built in the country by 2017, the Czech News Agency reported Aug. 20. The Cabinet quietly approved an amendment to Kapsch’s existing contract last week. Kapsch’s tolling system currently covers 980 kilometers (378 miles) of motorways; by contract’s end, the motorway system should double in length.

EURO The Finance Ministry and Czech National Bank (ČNB) disagree on the country’s need to set a firm target date for euro adoption, the daily Mladá fronta Dnes reported Aug. 18. The ministry wants to push for adoption by 2012, while the bank warns against a deadline while it is unclear whether current reforms will do enough to help the country meet the euro’s debt criteria.

GREEN The Industry and Trade Ministry is adding 2 billion Kč ($96.6 million) to its Eko-Energie program for 2007–13 due to high demand for environmental subsidies, Minister Martin Říman announced Aug. 16. The program, which provides European Union funds for energy-efficiency and renewable-energy projects, previously had a budget of 4 billion Kč.

GAS Household natural gas prices will increase by several percentage points this October and will likely increase 10 percent in January, according to RWE Transgas, the country’s dominant gas utility. The price hikes are due to the rising price of oil on the worldwide market, the company said. The amount of the October increase will be announced Aug. 30.

TENDER The Finance Ministry has canceled a contract won by ČSOB this past May that would have seen the bank manage more than 15 billion Kč from the state and European Investment Bank; the money has been set aside for anti-flooding construction. ČSOB and the ministry are mired in dueling suits over the 2000 failure of IPB.

LOANS Building societies will be able to offer state-subsidized loans and savings plans to students beginning in 2009, according to a recent agreement signed between the Education Ministry and the Association of Czech Building Savings Banks. The state would contribute up to 25 percent of students’ savings each year.

RYANAIR Ryanair, Europe’s largest budget airline, will begin operating daily flights from Prague’s Ruzyně Airport to Dublin this November, the airport announced Aug. 15. The airline expects more than 100,000 passengers to fly on the route in its first year. Irish tourists are the biggest spenders when they visit, laying out an average of 2,800 Kč a day, according to the Regional Development Ministry.

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