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December 1st, 2008
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SLUMP Pessimism among local managers regarding the outlook of their companies is at its highest in seven years, according to a Sept. 2 Purchase Manager’s Index (PMI) conducted by analysts at ABN Amro and Markit Economics. After peaking one year ago, confidence has declined due to the global economic slowdown and the strong crown.

FLIGHTS The Click4Sky budget division of Czech Airlines has exceeded the company’s expectations in terms of ticket sales, daily Hospodářské noviny (HN) reported Sept. 1. Since its launch earlier this year, Click4Sky has sold over 100,000 tickets. Due to the strong demand, the airline will consolidate all round-trip ticket prices to 2,780 Kč ($167), including fees.
HELLER Vendors stopped accepting the 50-heller coin as payment Sept. 1, marking the end of the heller’s 89-year validity. By allowing retailers to round off the costs of products priced in denominations below 1 Kč, the Czech National Bank (ČNB) expects the phase-out to cause a slight price increase. Commercial banks and the ČNB will continue accepting obsolete hellers and 20-crown notes until next September, the ČNB announced.
FORESTS Agriculture Minister Petr Gandalovič suggested a special new law on state forests would help resolve the slew of problems facing state-owned forest company Lesy ČR, HN reported Sep. 1. By exempting state forests from the public-procurement law and other regulations applied to state-owned companies, the suggested legislation would increase the flexibility and transparency of Lesy ČR’s tenders to private businesses and facilitate the company’s planned privatization.
INSPECTION The transport ministry began implementing an Internet-based monitoring system Sept. 1 to reduce corruption in the technical inspection of automobiles, daily Mladá fronta Dnes (MfD) reported. Some industry professionals voiced concern regarding the system’s dearth of cameras, which they said would lower its effectiveness.
WIND State-owned energy producer ČEZ purchased an ambitious wind-farm project in Romania from wind energy firm Continental Wind Partners Aug. 28, HN reported. ČEZ intends to invest 1.1 billion euros in the plant, making it the largest wind energy project in Europe.
BANKS Czech banks posted a combined H1 2008 net profit of 26.57 billion Kč Aug. 29, a year-on-year increase of 19 percent, HN reported. Czech National Bank Governor Zdeněk Tůma said he expected local banks to report lower profits next year, due in part to write-offs.
OPPOSED After meeting with representatives of the Duha environmental group Aug. 29, Social Democratic Party chairman Jiří Paroubek said he will oppose a proposal from party defectors Miloš Melčák and Michal Pohanka to exclude civic groups from the building approval process, daily Právo reported. The Environment Ministry also opposes the proposal.


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