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Business Headlines

September 6th, 2006 | Current Issue

Delay shadows euro adoption
Due to inflation, interest rates and disappointing businesses, the European currency may not be introduced until as late as 2012 or 2013

Lifestyle of the rich and eligible
Lukačovič, a sexy Seznam billionaire, prefers home life

Foreign trade dip brings bad news
Expected surplus turns into a deficit in July, ČSÚ report announces

10 Questions
with Stuart Evers
10 Questions

Movers & Shakers
JWT opens new office in Prague
Movers & Shakers

BRIEFS


  • THURSDAY, SEPT. 7 -
    • The American Chamber of Commerce holds its third in a series of quarterly leadership cocktail sessions for top management officials and public policymakers from 5:30 to 7 p.m. For info, visit www.amcham.cz/events.asp

  • SATURDAY, SEPT. 9 -
    • The Canadian Chamber of Commerce hosts its Terry Fox Run–Czech Republic at 1:13 p.m. at the Centrální park JZM, Prague 13–Lužiny. For info, visit www.terryfox.cz

  • TUESDAY, SEPT. 12 -
    • The American Chamber of Commerce will host a reception for the trade mission from Colorado led by Lieutenant Governor Jane Norton from 5 to 7 p.m. For more information, go to www.amcham.cz

  • MONDAY, SEPT. 18 -
    • The American Chamber of Commerce will hold a roundtable discussion on the draft Act on Takeover Bids. The discussion will feature draft authors Bohumil Havel and Vlastimil Pihera, as well as representatives of the Finance Ministry and the Czech National Bank. For more information, go to www.amcham.cz

  • TUESDAY, SEPT. 26 -
    • Tim Smith, an adjunct marketing professor at DePaul University and editor-in-chief of the Wiglaf Journal, will deliver a business briefing on market strategies from 8:30 to 10:30 a.m at the American Chamber of Commerce offices. Reservations are required.

  • THURSDAY, OCT. 12 -
    • The American Chamber of Commerce will sponsor the fifth ISPI Europe Conference — Building Performance into Organizational Culture in Europe, which will be held in Prague until Oct. 14. The event costs $650 (14,000 Kč) for chamber members. For info, visit www.ISPI.org/euro2006

  • SATURDAY, NOV. 25 -
    • The American Chamber of Commerce hosts its Thanksgiving Ball 2006. The event costs 3,500 Kč. For info and to register, send an e-mail to registration@amcham.cz

    Send Biz Events to business@praguepost.com

  • AERO -
    • Airplane manufacturer Aero Vodochody reached agreement with the Italian Alenia Aeronautica Sept. 3 to participate in the production of the C-27J Spartan military transport plane. The project would provide the ailing Czech company with 150 new jobs — its first job increase in four years. The Army is currently considering using the C-27J Spartan for foreign missions.

  • ENERGY -
    • Power producer ČEZ expects record electricity output in 2007 as a result of high demand seen at a recent wholesale electricity auction, sales director Alan Svoboda said Sept. 4. ČEZ controls nearly 55 percent of the electricity market. The company raised its target output for the year to 57 terawatthours (TWh). The previous record output was 56 TWh in 2003.

  • MERGER -
    • The Anti-Monopoly Office approved a merger Sept. 4 for truck maker Tatra and Blue River, a company established in 2005 for the sole purpose of buying Tatra. The company is owned by Tatra board member Alan Ronald Adams. He now stands to be the majority shareholder.

  • BUDGET -
    • The state budget deficit for 2007 is likely to exceed 100 billion Kč ($4.5 billion), Deputy Prime Minister Petr Nečas told Czech Television Sept. 3. The previous cabinet put the 2007 budget deficit at 88 million Kč. Nečas said that the previous total relied on revenue from privatization of state property that has not been finalized.

  • FACTORIES -
    • Škoda Transportation is investing 1 billion Kč in the construction of three new production facilities in the Plzeň region that will be launched in January 2008. The company has signed contracts to supply trams to Prague; Wrocav, Poland; and Cagliari, Italy. Škoda Transportation quadrupled its net income in 2005, pulling in 402 million Kč.

  • WAGES -
    • The average gross monthly wage grew to 20,036 Kč, according to the Czech Statistical Office. The average increased 6.9 percent compared to the second quarter of last year. The highest average wages are in the banking sector. Wages increased an average of 1,269 crowns through the first six months of 2006.

  • ORGANIC -
    • The Czech market for organic foods could increase by as much as 30 percent over the next five years, according to a report by the Green Marketing agency. Organic food sales reached 350 million Kč last year and accounted for less than 1 percent of the total food consumption in the country. An Agriculture Ministry survey showed that almost 50 percent of consumers are not familiar with organic products.

  • PLANT -
    • Austrian farm technology producer Poettinger will build a 141 million Kč plant in Vodňany, south Bohemia, Euro Online reported Sept. 4. The company, which produces soil-cultivating machines, has been active in Vodňany for six years. Poettinger currently employs more than 30 people here.

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