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December 4th, 2008
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October 24th, 2007 | Current Issue

Power of the Pole
Election landslide by Civic Platform could free up Polish coal reserves

Firms underestimate fraud risk
Companies complacent despite high crime rates

Stations to boost ad rates next year
Timing of increases draws interest of Anti-Trust Office

State expanding
With France, looks to redefine EU standards during presidency

Movers & Shakers
KPMG adds partners
Movers & Shakers

10 Questions
with Ladislav Mareš
10 Questions

BRIEFS


CARDED The government’s plan to introduce green cards for non-EU workers in skilled professions should begin as soon as possible, hopefully next year, Labor and Social Affairs Minister Petr Nečas said after the Cabinet approved the plan Oct. 22. The government says the green-card recipients would be guest workers meant to ease the workforce crunch, rather than immigrants intending to settle in the country.

CARGO The cargo division of the state-controlled railway company České dráhy (ČD) will be spun off into a separate company this December, the Cabinet decided Oct. 22. The company’s cargo division is the fifth largest in Europe and ran a profit of 1.5 billion Kč ($78 million) last year. ČD hopes that it can then gain increased subsidies for its passenger division, which consistently loses money.
RESIGNED Roman Čermák, head of the state’s inward-investment agency CzechInvest, has asked to be removed from his post, the Czech News Agency (ČTK) reported Oct. 22. Čermák’s reasons have not been revealed; the Industry and Trade Ministry is expected to consider the matter within the week. Čermák has led CzechInvest since April, when he replaced popular CEO Tomáš Hruda.
NUCLEAR The government is divided over whether it should adhere to its ban on the construction of new nuclear power plants, ČTK reported Oct. 18. The opposition Social Democrats plan to present a proposal this month to wrest control of the country’s energy policy from the Cabinet to the Chamber of Deputies. Some Civic Democrats may support the proposal, which could upend the governing coalition.
STARBUCKS The American coffee chain Starbucks will open its first store in Prague next year at Arkády, a new shopping center in Pankrác, Hospodářské noviny (HN) reported Oct. 19. The store will be operated by the Polish company AmRest, which is also looking for locations in the city center. The long-rumored entry of Burger King could also come soon, the paper reported.
DISPUTE PPF Investments is mired in a dispute with the Russian insurance company Ingosstrach, Mladá fronta Dnes reported Oct. 18. Ingosstrach says that PPF acquired its 38.5 percent share of the insurer illegally. Meanwhile, PPF has filed a claim with Russia’s Federal Securities Commission challenging a move Ingosstrach made to reduce PPF’s share of the company at its general meeting last week.
PETROF The Czech piano manufacturer Petrof has won an arbitration award worth more than 2.6 million Kč ($135 417) from its long-time former import partner in the United States, Geneva International Corporation, HN reported Oct. 17. The two had been arguing over last year’s supply of pianos to the United States.
FDI Foreign direct investment into the Czech Republic dropped to $5.96 billion (114.4 billion Kč) in 2006, down from $11.7 billion in 2005, according to a recently released United Nations study. The country fell out of the world’s top 10 countries receiving foreign investment. The drop is misleading, analysts say, since the 2005 numbers were inflated by the privatization of Český Telecom.

TUESDAY, OCT. 30

The American Chamber of Commerce hosts a policy discussion with Zdeněk Zajíček, deputy interior minister. Zajíček will speak on the introduction of Regulatory Impact Assessments and the draft e-Government Act. For more information, visit www.amcham.cz.
WEDNESDAY, OCT. 31
The British Chamber of Commerce hosts its autumn business mixer at the Hotel Jalta in Prague 1. This year’s theme is “blind wine tasting,” and guests will be encouraged to sample and rate various brands of wine. The night begins at 6:30 p.m. For more information, visit www.britishchamber.cz.
TUESDAY, NOV. 6
The American Chamber of Commerce hosts a business briefing on development at Prague’s Ruzyně Airport over the next three years, featuring Stanislav Zeman, director of marketing and aviation business at the airport’s Marriott Hotel. For more information, visit www.amcham.cz.
TUESDAY, NOV. 20
The Economist hosts its fourth annual business roundtable with the government of the Czech Republic. Senior directors of domestic and international companies will have the chance to speak with the country’s government. The conference starts at 8:30 a.m. at the Hotel Intercontinental. For more information, visit www.economistconferences.com.
SATURDAY, NOV. 24
The American Chamber of Commerce hosts its annual Thanksgiving Ball in the main hall of the Veletržní palác in Prague 7. There are still a few corporate tables and individual tickets available. For more information, visit
www.amcham.cz.
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