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December 4th, 2008
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June 27th, 2007 | Current Issue

Staring down the barrel
Hassling by Interior Ministry forces ČZUB into manufacturing a world-class pistol

Largest protest in 10 years by unions
Planned public finance reforms the object of labor's ire

CzechInvest employees jump ship
CzechInvent competes with an eye on technology industry

Gov't seeks revision of Dutch agreement
Finance Ministry eyes untaxed dividends flowing to Holland

10 Questions
with Gautier Vasseur
10 Questions

Movers & Shakers
Clifford Chance addition
Movers & Shakers

BRIEFS


EASTWARD Škoda Auto is looking to push its production further eastward, CEO Detlef Wittig told Reuters June 25. The company wants to produce 800,000 cars by 2010, up from 556,347 cars in 2006 and an expected output of 616,000 cars this year. Expect most of this increase to come in countries like Russia, China and India, he said.

BRIBES Fifty percent of Czech firms would pay a bribe to secure a new tender, found a survey of 1,166 businesspeople commissioned by the Economic Chamber and the daily Hospodářské noviny. Also, 77 percent of the firms surveyed said they had encountered corruption.

BUYBACK The energy utility ČEZ has already bought back 2 percent of its shares on the Prague and Warsaw Stock Exchanges, spokeswoman Eva Nováková told the Czech News Agency (ČTK) June 22. The state-controlled company has spent 12.8 billion Kč ($599 million) on the buyback so far, which will continue until the company has purchased 10 percent of its total shares.
STEEL Mittal Steel Ostrava is planning to file a lawsuit against the city of Ostrava, north Moravia, for a 2.7 billion Kč fine it assessed against the company for overpricing of coke supplies. Two weeks ago, the Finance Ministry rejected an appeal by Mittal, and now the company says it may complain to the European Commission.
DIGITAL TV Nova has reached an agreement with the state and other broadcasters on digital-television licenses and will no longer obstruct the state’s plans, Deputy Interior Minister Zdeněk Zajíček said. Nova and Prima will receive two digital broadcasting licenses each; six new digital-broadcast stations will each receive single five-year licenses.
EVICTIONS An amendment to the civil code proposed by the Justice Ministry would allow landlords to evict tenants without cause — provided they give two years notice. The ministry says current laws provide excessive protection for tenants. The amendment would not come into effect until 2011, when rents are completely deregulated.
ZENTIVA Zentiva has taken out a loan of 550 million euros ($733 million/15.8 billion Kč) to complete its acquisition of 75 percent of Eczacibasi Generic Pharmaceuticals. The company anticipates that the purchase of Eczacibasi, Turkey’s third-largest drug company, will be finalized by July 2.
INSIDE MAN Alan Svoboda, ČEZ’s executive director for sales and trading, could face charges of insider trading, ČTK reported June 19. Svoboda said he would resign from the company if formally charged. Police have been investigating Svoboda for two years over shares of ČEZ he sold in 2005.
AIRPORT Penta has announced plans to build an international airport outside Prague on the grounds of Aero, the military aircraft manufacturer it bought this past January for 3 billion Kč. The airport, located in Vodochody, would begin operation by 2010 and serve an estimated 1.5 million passengers each year.

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