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December 4th, 2008
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November 14th, 2007 | Current Issue

Nursing a profit
Prague takes first step in privatizing retirement homes

Court blocks trading of insurer
PPF Investments' stake in Russia's Ingosstrakh at heart of dispute

AmCham president audits success
ČR's top businesswoman looks to unite chambers

Biz Events
Dates of Note

10 Questions
with Nigel D.P. Thwaites
10 Questions

Movers & Shakers
New chairman at AAA
Movers & Shakers

BRIEFS


RUNWAY The financial group Penta is seeking more than 7 billion Kč ($382 million) for land adjacent to Prague’s Ruzyně Airport, Hospodářské noviny reported Nov. 13. The airport wants to construct a new runway on

the land, which Penta had originally purchased for less than 500 million Kč. Resolving the price dispute is crucial for future privatization plans, said Miroslav Dvořák, the airport’s CEO.
ROMANIA The state-owned energy utility ČEZ has won a bid to participate in the construction and
operation of two nuclear reactors in Romania, the Czech News Agency reported Nov. 12. The project is worth 2.2 billion euros (40.3 billion Kč/$3.2 billion), with the reactors coming online by 2015. Other partners in the project include Electrabel, Enel, Iberdrola and RWE.
STEEL An court of arbitration in London has suspended one of  the two complaints filed against the Czech Republic by the steel giant ArcelorMittal in the wake of last month’s agreement by the two to reach a
settlement, Právo reported Nov. 10. ArcelorMittal had been seeking 700 million euros for its exclusion from the privatization of Vítkovice Steel.
DIESEL The price for diesel has reached a two-year high and now exceeds 30 Kč per liter, according to the watchdog CCS. The rise has been caused by the high price of crude oil, which is nearing $100 per barrel, and the planned interruption of production at the country’s Litvínov refinery.
INFLATION The country’s inflation rate jumped to its highest level in six years this October, with annual inflation climbing to 4 percent from 2.8 percent in September. The growth was spurred by higher-than-expected food prices and could signal another interest rate increase from the national bank. Inflation is expected to continue rising into next year.
PANKRÁC The Justice Ministry is considering selling the prison in Prague 4–Pankrác, located on lucrative land near the city center, Mladá fronta Dnes reported Nov. 7. The 9.5-hectare (23.5-acre) parcel is expected to draw heavy interest from developers. The ministry will make a final decision on the plot’s future next year.
LOGISTICS The freight company C.S. Cargo has made its first major foreign acquisition, buying its Slovak competitor mGal spedition, the company announced Nov. 6. The move will make C.S. Cargo the largest logistics operator on the Slovak market. The companies did not disclose details of the deal.
ČSA Thanks to rising sales, the state-run airline ČSA has posted an operating profit for the first three quarters of this year, the company has announced. The airline ran a profit of 563 million Kč over that period, compared to a loss of 324 million Kč over the same time last year. ČSA expects to end the year in the black for the first time since 2004.

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