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December 4th, 2008

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Business Headlines

June 28th, 2006 | Current Issue

Moving forward
More managers being recruited abroad to share experience, skills

Landlords gain in rent-control fight
Ruling against Polish rent regulation sets EU precedent

AV posts record losses in 2005
Delayed privatization could put the jet maker further in the red

Biz Events
Dates of Note

10 Questions
with Rick Enders
10 Questions

Movers and Shakers
Janík takes off at ťSA
Movers & Shakers

BRIEFS

VODAFONE -

Mobile operator Vodafone ČR will begin offering fixed-line services in one year, said Managing Director Grahame Maher. The company is negotiating with existing fixed-line operators to begin renting their network space.

LAYOFFS -

Fixed-line operator Český Telecom (ČT) may continue reducing staff, CEO Jaime Smith said at a June 26 panel discussion. Everything will depend on revenues, he said. If they fall, the company will have no choice but to make layoffs. ČT has laid off around 12,000 employees in the past five years, or more than half its staff.

SAZKA -

In the past six months, Prague's Sazka Arena was the fifth most successful arena of Europe's 23 largest venues in terms of number of events. Czech daily newspaper Hospodářské noviny said Sazka CEO Aleš Hušák accomplished something no one thought was possible because the arena had been struggling financially for several years.

VAT -

The emerging government coalition's plans to introduce a 16 percent to 18 percent flat tax for income and value added (VAT) taxes means that people will have to pay more for some goods that currently fall under the lower of the country's two VAT brackets. For example, the prices of water and sewage fees, children's napkins and medicine would increase.

CONFIDENCE -

Overall confidence in the economy increased 1.5 points in June compared with a month earlier, reaching its highest level since January 1998, according to data released by the Czech Statistical Office June 27. Compared to last year, the confidence indicator is up 7.2 points.

CARS -

German car component manufacturer Behr will invest 500 million Kč ($22.2 million) in a new plant in Mošnov, north Moravia, that will employ approximately 130 people, state inbound investment agency CzechInvest announced June 26. The plant should launch operations in the middle of 2007.

CONDOMS -

Condom sales are falling as other forms of contraception grow in popularity and fear of AIDS falls, health experts told the Czech News Agency June 23. Retailers sold 17.7 million condoms worth nearly 141 million Kč from May 2003 to April 2004, compared with 16.3 million a year later, according the ACNielsen market research company. Condom manufacturers are investing in advertising targeted at young people.

SALE -

The European Commission has decided to allow the sale of a 38.79 percent stake in state-held rail catering company Jídelní a lůžkové vozy (JLV) to national rail operator České dráhy. JLV, owned by the National Property Fund, is valued at between 15.5 million and 17.3 million Kč, according to several independent analyses.

POLES -

A growing number of Polish people are coming to work in the Czech Republic, Slovakia and Hungary, as well as old European Union countries, Polish newspaper Rzeczpospolita reported June 20. Approximately 13,500 Poles work in the Czech Republic now, compared with 7,500 two years ago, according the report. Six times as many Poles are working in Slovakia now as were two years ago.

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