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July 20th, 2008
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DIVIDENDS Companies paid out a record 158 billion Kč in dividends last year, 108 billion Kč ($9.6 billion) of which went to foreign owners, according the Czech National Bank estimates, Hospodářské noviny (HN) reported March 7. Analysts expect the trend to continue this year, with foreign shareholders receiving between 130  billion and 150 billion Kč in dividends.

COAL New World Resources (NWR) has applied for a permit to mine coal in Poland, the company announced March 4. NWR owns the Czech Republic’s largest black coal miner, OKD. The mine would be in Poland’s Silesia region, just north of the Czech border and close to OKD’s operations. The application was filed by Karbonia PL, a wholly owned subsidiary of NWR.
HAVENS The Cabinet will not request banking data the German secret police received from an employee of the Lichtenstein bank LGT, HN reported March 10. Germany is using the information to pursue wealthy tax dodgers. Finance Minister Miroslav Kalousek said the government would only take the information if it is offered by Germany; HN said such an offer has already been made, raising speculation as to the ministry’s intentions.
KELLNER The Czech financier Petr Kellner has become one of the wealthiest 100 people in the world, according to the annual rankings of the U.S. magazine Forbes. With assets totaling $9.3 billion, Kellner is placed 91st, up almost 30 places from last year, when he was ranked 119th. Kellner controls the finance group PPF.
GO JOE The next high-profile Hollywood film to be shot at Prague’s Barrandov Studios will be a live-action adaptation of G.I. Joe, a comic strip and children’s cartoon, the Czech News Agency (ČTK) reported March 10. The film, with a budget of $170 million, will be directed by Stephen Sommers, best known for The Mummy. Production begins in May.
SURPLUS The January foreign trade surplus surpassed expectations, rising to 12.2 billion Kč, Thomson Financial reported March 6. The surplus was bolstered by growing sales of Czech-made automobiles and machinery. Analysts expect foreign trade to slow in 2008, dragged down by the rising crown. The Czech Republic recorded a A surplus  of 85 billion Kč in 2007.
MALL Retailers at Prague’s Palladium mall will not have to pay rent during the four-week shutdown that resulted from an electrical fire last month, ČTK reported March 10. The mall will reopen March 20 after seeing an estimated 200 million Kč in losses. Investigators say the fire was a technical accident with no evidence of foul play.
BEER FUND ČSOB  has introduced a special investment fund that deals only in international brewery shares, the bank announced March 6. The fund targets the world’s 16 largest brewers, including Anheuser-Busch, InBev, Heineken and SABMiller, the last three of which have significant holdings in the Czech Republic.


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