Business Briefs
Tractor maker Zetor to harvest big profits
Local tractor producer Zetor plans to make a consolidated profit of 134 million Kč this year, growth of 10 million Kč compared with the 2011 profit, the company told the Czech News Agency. After a string of losses, Zetor's profits have been growing since 2010. This year, sales should rise to almost 4 billion Kč, according to the company's estimates.
Local tractor producer Zetor plans to make a consolidated profit of 134 million Kč this year, growth of 10 million Kč compared with the 2011 profit, the company told the Czech News Agency. After a string of losses, Zetor's profits have been growing since 2010. This year, sales should rise to almost 4 billion Kč, according to the company's estimates.
Mopet.cz granted payments license
Mopet.cz has been granted a license by the Czech National Bank to operate its Mobito mobile payments system, which it plans to launch by the third quarter of this year, HN reported May 18. Partners on the project include T-Mobile, Telefónica CR, Vodafone, Česká spořitelna, GE Money Bank, Raiffeisenbank and UniCredit. A T-Mobile representative told the daily that mobile phone users will be interested, but the speed of the rollout depends on retailers.
Mopet.cz has been granted a license by the Czech National Bank to operate its Mobito mobile payments system, which it plans to launch by the third quarter of this year, HN reported May 18. Partners on the project include T-Mobile, Telefónica CR, Vodafone, Česká spořitelna, GE Money Bank, Raiffeisenbank and UniCredit. A T-Mobile representative told the daily that mobile phone users will be interested, but the speed of the rollout depends on retailers.
Pressure to award Temelín tender to Russia
A high-level official at energy company ČEZ told daily HN May 21 that pressure is increasing from the industrial sector for the Russian bid to be chosen for the Temelín nuclear power plant expansion, because industry leaders think this would give them the best chance of getting the most subcontracts. Vladimír Dlouhý of the National Economic Council criticized the choice of a tender process for awarding the massive contract, because it does not sufficiently take into account the interests of local companies.
A high-level official at energy company ČEZ told daily HN May 21 that pressure is increasing from the industrial sector for the Russian bid to be chosen for the Temelín nuclear power plant expansion, because industry leaders think this would give them the best chance of getting the most subcontracts. Vladimír Dlouhý of the National Economic Council criticized the choice of a tender process for awarding the massive contract, because it does not sufficiently take into account the interests of local companies.
Czech Republic underperforms as EU innovator
The Czech Republic, along with Slovakia, Poland and Hungary, ranks among below-average innovators in the European Union, according to results of the Union 2011 survey presented at a conference organized by the World Bank and the CzechInvest agency in Prague May 21. The main topics of the conference are enterprise, employment, innovations and new technologies. Leaders in the area of innovations are Sweden, Denmark, Germany and Finland, while Romania, Lithuania, Bulgaria and Latvia have placed at the bottom of the list, according to the survey.
The Czech Republic, along with Slovakia, Poland and Hungary, ranks among below-average innovators in the European Union, according to results of the Union 2011 survey presented at a conference organized by the World Bank and the CzechInvest agency in Prague May 21. The main topics of the conference are enterprise, employment, innovations and new technologies. Leaders in the area of innovations are Sweden, Denmark, Germany and Finland, while Romania, Lithuania, Bulgaria and Latvia have placed at the bottom of the list, according to the survey.
It's official: Czechs love beer and pork
The average Czech drinks 87 barrels of beer in 60 years and eats 30 pigs, according to research from the Czech Statistical Office (ČSÚ). In a study called "61 years of the Czech food consumer," researchers found that between 1950 and 2010, Czechs also ate an average of 3.8 tons of bread and 4.7 tons of meat. Since 2010, Czechs have reduced their food consumption, especially of meat and dairy products, and cut down on alcohol and tobacco use.
The average Czech drinks 87 barrels of beer in 60 years and eats 30 pigs, according to research from the Czech Statistical Office (ČSÚ). In a study called "61 years of the Czech food consumer," researchers found that between 1950 and 2010, Czechs also ate an average of 3.8 tons of bread and 4.7 tons of meat. Since 2010, Czechs have reduced their food consumption, especially of meat and dairy products, and cut down on alcohol and tobacco use.
Deka Immobilien buys Prague office building
Deka Immobilien bought the City Green Court office building in Pankrác from Skanska Property CR for 53.7 million euros, daily HN reported May 22. Skanska had bought it as a project from ECM in 2010. The building is set to be completed in May and is already 95 percent pre-leased. Analysts say this purchase may signal a trend back toward foreign ownership of most commercial real estate.
Deka Immobilien bought the City Green Court office building in Pankrác from Skanska Property CR for 53.7 million euros, daily HN reported May 22. Skanska had bought it as a project from ECM in 2010. The building is set to be completed in May and is already 95 percent pre-leased. Analysts say this purchase may signal a trend back toward foreign ownership of most commercial real estate.
Tipsport tipped to buy gaming company
Tipsport, one of the largest gaming companies in the country with a 39 percent market share in fixed-odds betting, will buy out the No. 3 player, Chance, from Appian, Hospodářské noviny (HN) reported May 22. Appian has a 14 percent share of the 15 billion Kč ($761.2 million/596 million euros) market for domestic operators. Foreign operators account for another 15 billion Kč. Tipsport has applied for antitrust approval, and declines to comment on the transaction until approval is given.
Tipsport, one of the largest gaming companies in the country with a 39 percent market share in fixed-odds betting, will buy out the No. 3 player, Chance, from Appian, Hospodářské noviny (HN) reported May 22. Appian has a 14 percent share of the 15 billion Kč ($761.2 million/596 million euros) market for domestic operators. Foreign operators account for another 15 billion Kč. Tipsport has applied for antitrust approval, and declines to comment on the transaction until approval is given.
22 °C, Prague, Czech Republic
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