Wednesday News Briefing

NEWS  

TREATY Prime Minister Petr Nečas of the Civic Democratic (ODS) party met with Foreign Affairs Minister Karel Schwarzenberg Feb. 7 to discuss differences over the European Union fiscal compact, a treaty Nečas refused to sign in Brussels last month. The pair agreed to tone down their rhetoric while discussing the pros and cons of the treaty, which Schwarzenberg's TOP 09 party supports, but inside sources said they did not reach any further compromise, the daily Právo reported.  

VOTE The Senate is set to vote on a constitutional amendment for direct presidential elections Feb. 8, the Czech News Agency (ČTK) reported. The bill is expected to pass through the upper house unchanged, although several factions have voiced intentions to use the bill to strengthen the decision-making power of senators during presidential elections. The Senate is also expected to reject President Václav Klaus' nomination of Jan Sváček to the Constitutional Court. If named, Sváček would replace Justice Eliška Wagnerová, whose term expires next month.  

ART A precious art collection formerly belonging to communist Interior Minister Rudolf Barák will remain in the custody of the National Gallery, the Constitutional Court decided Feb. 8.  Barák, who was a notorious figure during his tenure at the ministry from 1953 to 1961, amassed a wide collection of art ranging from oriental objects to socialist realist paintings before being sentenced for sabotage in 1962, according to ČTK.  

BUSINESS

STOCKS The Prague Stock Exchange (BCPP) slipped Feb. 7, in line with neighboring markets, with the headline PX index losing 0.89 percent to close at 1,002 points, according to bourse results.  Komerční banka (KB), mining company NWR and developer Orco posted the biggest losses. KB lost 4.5 percent to close at 3,687 Kč per share, NWR reported a drop of nearly 5 percent to 156 Kč, and Orco depreciated more than 6.5 percent to 107.47. Kč. Greece is still a reason for market jitters, according to analysts.

CORRUPT TOUR Businessman Petr Šourek plans to launch a company called Corrupt Tour Travel Agency for organizing trips to corrupt sites, daily Hospodářské noviny reported. Sites such as the Blanka Tunnel, Škoda Palace and the villas of Roman Janoušek and Patrik Oulický are on the itinerary. Tours will also be offered in a Jaguar.  

ONLINE SALES Online computer and electronics store CZC.cz saw sales growth of 30 percent year on year to a record 1 billion Kč last year, CZC.cz owner Josef Matejka told ČTK today Feb. 7. He said the 2011 turnover was the highest in the company's 13-year history. The two largest Czech online shops, Alza.cz and Mall.cz, also reported record-high sales for last year, around 10 billion Kč in total.

WEATHER

Prague, Czech Republic; partly sunny; High: -5 C, Low: -12 C  

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