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August 28th, 2008
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July 25th, 2007 | Current Issue

Dirty fuels
Surprise decision by prosecutor to drop charges ends notorious biofuels scandal

MCA ordered to repay loan
Owner says sum is not a standard loan but a future investment

ČR challenges food surplus fine
Agriculture minister claims no disruptions to the EU market

10 Questions
with David Kučera
10 Questions

AmRest has new manager
Movers & Shakers

BRIEFS


IPB The Finance Ministry has filed a massive 26.7 billion Kč ($1.3 billion) suit against ČSOB for unjustified profits the bank made during its state-assisted buyout of the bankrupt IPB bank in 2000, the ministry announced July 23. This counters a recent suit filed by ČSOB at the same international arbitration court seeking 1.7 billion Kč from the government.

CZECH COAL The German utility E.ON is in exclusive talks with Czech Coal to build a coal-fired power plant in north Bohemia, Czech Coal confirmed July 23. Czech Coal had been seeking international partners for such a plant after its discussions with ČEZ fell apart. Talks on the deal will stretch through the next few months.
REFORMS Coalition deputies have until Aug. 13 to propose changes to the government’s planned public finance reforms, the daily Hospodářské noviny reported July 24. Deputies in the governing coalition of the Civic Democrats, Christian Democrats and the Green Party will then vote on which proposals will be integrated into the final reform proposal, due for its third reading later in August.
FUNDS The Czech Republic will finally be able to begin tapping 750 billion Kč in regional development funds from the EU for 2007–13 after the European Commission approved its “national strategic reference framework,” the daily Právo reported July 24. Regional Development Minister Jiří Čunek will meet with European Commissioner Danuta Hübner July 27 to officially receive the EC’s approval.
TRAINS The state-run rail transport and freight company, České dráhy, made a preliminary profit of 30 million Kč in the first half of this year, the company’s CEO, Josef Bazala, told Czech Television July 23. The company has long been a money sinkhole but has recently been buoyed by its cargo operation, which the state plans to privatize by year’s end.
SECURITY Job security is the most important element of employment to Czechs, according to a new poll by CVVM. Some 93 percent of those polled rated security as important, followed by job enjoyment — a close second, at 91 percent — and high income. The lowest-rated choice was opportunity for promotion and personal career development, which only 65 percent rated as important.
CHICKEN The Anti-Monopoly Office has imposed a fine of 14.2 million Kč on seven poultry breeders for a cartel agreement between the companies. The companies fixed buyout prices for slaughtered chickens last December. The two ringleaders, Agrodružstvo Jevišovice and Sušárna Pohořelice, were fined 8.3 million Kč and 5.4 million Kč, respectively.
MARKETS Tesco plans to become the largest supermarket chain in the country by opening a string of small shops branded Tesco Express, to be introduced this fall. The company intends to open 24 new shops by year’s end. In other supermarket news, Ahold is considering rebranding its 13 largest Hypernova stores as Albert supermarkets, reducing their size and product selection.

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