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September 8th, 2008
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SUIT The suit filed by ČEZ, the country’s dominant utility, against the coal supplier Mostecká uhelná (MUS) will be worth 22 billion Kč ($1.1 billion), Hospodářské noviny reported Oct. 2. MUS and its parent company, Czech Coal, had previously committed to a coal-supply contract with ČEZ before the deal fell apart over the planned construction of a new coal-fired power plant.

GAS The country’s largest natural gas provider, RWE Transgas, increased its prices 4.8 percent Oct. 1. Also increasing their prices were Pražská plynárenská, which went up 6.2 percent, and Jihomoravská plynárenská, up 5.5 percent. The price hikes are due to the rising price of oil on the worldwide market, the companies say.
IMF Russia’s maverick nomination of Josef Tošovský to head the International Monetary Fund (IMF) came to an end Sept. 28, when the IMF’s executive board selected the European Union’s candidate, Dominique Strauss-Kahn, to lead the fund. The Russians put their support behind Tošovský, a former governor of the Czech National Bank, as a protest against the EU’s traditional dominance of the IMF.
DIGITAL Digital television broadcasting is set to move ahead after the Chamber of Deputies approved an amendment to the media law Sept. 27. The law awards provisional licenses to six start-up broadcasters in addition to the current leading commercial stations, TV Nova and Prima TV. The bill also allows the public broadcaster Czech Television to continue running advertisements.
NUCLEAR The Czech Republic will need to think about building a new nuclear power plant, according to preliminary conclusions drawn Sept. 26 by an expert committee studying the country’s energy future. Renewable power and increased efficiency will not be enough, it said. The government has vowed not to pursue further nuclear power, a requirement of the Green Party, a coalition partner.
SEZNAM Seznam.cz, the country’s largest search engine, has purchased a stake in the Internet video site Stream.cz, daily Lidové noviny reported Sept. 27. Seznam refused to reveal any details of the transaction, saying only that it hoped to become the No. 1 video site in the country.
STARTING The Czech Republic has dropped four places in the World Bank’s annual ranking of countries for the ease of starting a business, falling to 56th. The biggest problems facing the country are its slow courts and complicated tax laws, said a former World Bank member. The Czech Republic trails Estonia, Slovakia, Slovenia and Bulgaria, among others, in the listing.
PROFIT Industrial companies upped their profits nearly 31 percent to 237.1 billion Kč in 2006, the Czech Statistical Office has announced. The growth is largely due to the entry of foreign investors, focus on value-added production and growth in exports — over half of the products made in the country were sold abroad.


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