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December 4th, 2008
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December 5th, 2007 | Current Issue

Home security goes mobile
High-tech surveillance offers safety, peace of mind

BritCham steers to calmer waters
First step of new board will be to look at the chamber's ethical code

Plans call for EU telecom monitor
Commissioner says regulators 'cozying up' to providers

Russian plant a boon for Škoda, Volkswagen
Carmaker expects to save up to 10 percent off customs tariffs

10 Questions
with Gary Mazzotti
10 Questions

Movers & Shakers
Mmd makes additions
Movers & Shakers

BRIEFS


WEDNESDAY, DEC. 5

The Nordic Chamber of Commerce hosts a seminar on the recent tax reforms. The seminar begins at 8:30 a.m. at the Four Seasons Hotel in Prague 1. For more info, visit
www.nordicchamber.cz.
THURSDAY, DEC. 6
The American Chamber of Commerce hosts a business briefing entitled “How Applied Mathematics Can Boost Your Business.” The briefing features Ondřej Komenda of inSophy, which specializes in providing mathematical consulting and software solutions to complex business problems. For more info, visit www.amcham.cz.
THURSDAY, DEC. 6
The Canadian Chamber of Commerce hosts its annual Christmas party at Sacré Coeur, a restored neo-Gothic chapel in Prague 5. The party will feature a buffet, dancing, live music and a silent auction. Reservations are required. For more info, visit
www.gocanada.cz.
WEDNESDAY, DEC. 12

The Canadian Chamber of Commerce hosts a business breakfast with Aleš Bartůněk, general manager of IBM Czech Republic. The breakfast will take place at the Hilton Prague. For more info, visit www.gocanada.cz.

THURSDAY, DEC. 13
The Nordic Chamber of Commerce hosts a traditional St. Lucia party at the Hotel InterContinental in Prague 1. The event will feature Christmas carols and a buffet with glögg, pepparkakor, carved ham, herring, smoked salmon, Jansson’s temptation and Swedish meatballs. For more info, visit www.nordicchamber.cz.
Send Biz Events to business@praguepost.com

RATE Czech National Bank raised the key national interest rate to 3.5 percent Nov. 30, the fourth such interest rate hike of the year. Bank Governor Zdeněk Tůma said the increase was in response to a sharp rise in inflation, according to daily Hospodářské noviny. Financial analysts predict inflation will continue in January, driven by high energy prices.

DEBT The nation’s household debt per capita is now about 65,000 Kč ($3,623), according to the Czech National Bank. Overall, household debt has grown 7 billion Kč per month and around 166 billion Kč year-on-year to 679 billion Kč in October, the bank said Nov. 30. The central bank publishes statistics of a monthly monetary survey that is based on balances supplied by banks, money market funds and credit unions.
TRANSPORT Czech railway transport operator České dráhy started to operate its cargo division as an independent joint-stock company called CD Cargo Dec. 1, according to the Czech News Agency (ČTK). Cargo transport on railways in the Czech Republic comprises about 20 percent of all cargo transported — one of the highest amounts by rail in the European Union. Some 90 million tons of rail cargo were carried by České dráhy trains in 2006 out of the 97 million tons of cargo transported by rail.
GAS Prices of the natural gas used to heat households are slated to rise an average of 7.4 percent in January, according to a Dec. 3 press conference by RWE Transgas, the largest seller of natural gas in the Czech Republic. Analysts had predicted a hike of up to 10 percent. Suppliers have set their own prices on the market since April, when the gas and electricity markets were fully liberalized.
POWER Prague power giant ČEZ has seen sales at foreign subsidiaries rise to more than 20 percent of its total business through September. That compares with 19 percent in sales from foreign subsidiaries for all of 2006, the ČTK reported. The power company wants to become the No. 1 company for electricity in Central and Southeast Europe, according to its chief operating officer. It distributes electricity in Bulgaria, Poland and Romania and is currently working on deals in Hungary, Turkey and Russia.
BONDS Czech officials plan to offer bonds and treasury bills worth 82 billion Kč in the first quarter of 2008 to pay to finance the state budget, according to Thomson Financial news service. That’s about half of the entire 165.3 billion Kč the government plans to raise through various bonds throughout the year to pay for a planned budget deficit of almost 71 billion crowns, creating of pension insurance reserves and refinancing previous bonds.
PRIVATIZATION Controversy continues over a campaign to privatize several currently state-run companies, a measure that could bring up to 1 trillion Kč into state coffers in 2008, according to Hospodářské noviny. Czech Airlines’ (ČSA) cargo unit was recently sold for 700 million Kč. Also expected to go on the block later this year are Prague Airport, Budějovický Budvar (Budweiser Budvar), Lesy ČR and part of the ČEZ power group.

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