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VIETNAM Škoda Praha, a subsidiary of ČEZ, the country’s dominant power utility, is in talks to build a massive coal-fired power plant in Vietnam, Hospodářské noviny (HN) reported Sept. 11. The plant would be built in the Mekong Delta for some 90 billion Kč ($4.4 billion) and would put out 1.5 times the power of the Czech Republic’s largest nuclear power plant.

SUSPENDED The Union of Railway Workers has suspended its chairman, Jaromír Dušek, over suspicious transactions he made as part of the union’s investment in a hotel in the Krkonoše Mountains, HN reported Sept. 10. The union has declined disclosing further details. Dušek is one of the most prominent labor leaders in the country.
GROWTH Economic growth slowed to 6 percent in the second quarter, down from 6.4 percent in the first quarter, according to the Czech Statistical Office. Analysts disagree on whether the slowdown is indicative of a long-term trend. The growth has been spurred by increased household spending and investments.
AIRPORT Prague’s Ruzyně Airport will be privatized by the end of 2008, Transportation Minister Aleš Řebíček confirmed Sept. 9. The sale of the airport has been long expected. It has not been decided how much of Ruzyně the state will sell and whether the government will seek a strategic partner or offer shares on the stock exchange, Řebíček said.
CLOSED CzechInvest, the state-controlled inward investment agency, has closed its office in Silicon Valley after six years of operation, HN reported Sept. 7. The agency said the branch underperformed its other U.S. office, based in Chicago. The move came as a surprise to diplomats and former employees, who cited the relevance of being based in Silicon Valley, the U.S. innovation capital.
ACQUIRED The investment group Penta has bought the British company Rotortech, which makes composite airplane parts, in a deal worth hundreds of millions of crowns, the companies announced Sept. 6. Rotortech will be folded into Penta-owned Aero Vodochody, the Czech Republic’s largest aircraft maker. Penta expects the demand for aircraft composites to grow 20 percent per year.
ATOMIC ČEZ wants to help its Polish counterpart, PGE, build Poland’s first nuclear power plant, ČEZ’s CEO, Martin Roman, told an economic forum in Krynica, Poland. The companies have held preliminary talks but have not yet approached the Polish government, Roman said, adding that Poland has several suitors at this point.
IMF The Russia-sponsored candidacy of Josef Tošovský, former governor of the Czech National Bank, to head the International Monetary Fund (IMF) received another blow last week, when the United Kingdom  endorsed Dominique Strauss-Kahn for the post. The European Union (including the Czech Republic), which traditionally picks the IMF’s head, is now unilateral in its support for Strauss-Kahn.


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