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December 4th, 2008
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January 3rd, 2008 | Current Issue

Cooling down
To push through reforms, government postpones decision on energy future

New law targets dodgy debtors
Rules give creditors more teeth to collect on money owed

New green tax to aid environment
Measure expected to help stem global warming trend

10 Questions
with David Stulb
10 Questions

Movers & Shakers
Škoda names designer
Movers & Shakers

BRIEFS


WEDNESDAY, JAN. 9

The Nordic Chamber of Commerce hosts a seminar offering tips on the government’s tax reforms, which took effect Jan. 1. The seminar will be held at Zlatnická 10, Prague 1, beginning at 9 a.m. For more information, visit www.nordicchamber.cz.
THURSDAY, JAN. 10
The American Chamber of Commerce hosts an HR seminar featuring Petr Draxler, IBM’s country leader for human resources. The seminar will focus on talent and diversity management along with cooperation between universities and the private sector. The event takes place at IBM’s offices in Brno, south Moravia. For more information, visit www.amcham.cz.
MONDAY, JAN. 14
The 15th annual Infotherma international heating exhibition kicks off in Ostrava, east Moravia, until Jan. 17. The fair will focus on green ways to heat small- and mid-sized buildings while increasing energy efficiency. The event is sponsored by the Industry and Trade, Environment, Agriculture and Regional Development ministries. Last year the event drew 22,000 attendees. For more information, visit www.infotherma.cz.
THURSDAY, JAN. 17
The Canadian Chamber of Commerce hosts a business breakfast with Jiří Paroubek, former prime minister and chairman of the Social Democratic Party. More details, when available, can be found at www.gocanada.cz.
FRIDAY, JAN. 25
The 13th Annual Tourism Expo in Olomouc, north Moravia, begins, lasting until Jan. 27. The expo focuses on regional tourism in the Czech Republic, bringing together travel agencies and transportation companies. For more information, visit www.flora-ol.cz.
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TOLLS Truck tolls will be collected on about 200 kilometers (125 miles) of national motorways, under a contract amendment Austrian toll system company Kapsch signed Dec. 28, the Czech News Agency reported. Kapsch is to build microwave toll systems on all motorways, starting in 2017 at the latest, under a construction contract for 22 billion Kč ($1.2 billion), ČTK said.

 
TELECOM A group led by American investors bought the telecommunication group GTS Central European Holding, parent of Czech telecoms operator GTS Novera, ČTK reported. Columbia Capital, M/C Venture Partners and Innova Capital funds led the investment partner group. Terms of the deal were not disclosed. GTS’s consolidated sales in 2007 are expected to be 393 million euros ($578 million/10.4 billion Kč).
DEBT External debt represented almost 40 percent of the country’s gross domestic product in the first nine months of the year, remaining relatively stable year on year, the Czech National Bank said Dec. 31. Much of that debt comes from corporate sector borrowing, with government debt accounting for 20 percent of the total. Foreign liabilities of commercial banks and the Czech National Bank rose at the end of the third quarter.
EU FUNDS An additional 64 billion Kč ($3.5 billion) in European Union funds is expected to flow into the Czech Republic in the next five years for more cross-border cooperation costs, ČTK reported Dec. 28. Money will go to help with transport, tourism and environmental issues. All in all, the EU expects to give more than 19.6 billion Kč to the Czech Republic and neighboring countries.
UNIPETROL Czech refiner Unipetrol, now owned by Polish oil conglomerate PKN Orlen, is still at work to fix its ethylene unit at the Litvínov plant, according to ČTK. A fire put the entire plant out of commission for almost 10 days longer than planned during a routine maintenance upgrade in November. A repaired “cold box” will be installed in the unit in May 2008 during a planned 14-day shutdown. Company officials have not said what they expect the financial impact of the shutdown will be.
CEX Czech company CEX has won the tender to buy state-owned Skodaexport, a company that negotiates multibillion crown deals for engineering and energy companies, ČTK reported Dec. 28. CEX bid 210 million Kč ($11.6 million), the highest bid of four companies who took part in the tender. It is 70 percent owned by CKD Praha DIZ and 30 percent owned by CKD Nove Energo. Skodaexport has been involved in building power plants in China, Turkey, India, Egypt, Pakistan, Bangladesh and Albania. It posted profits of more than 10 million Kč in 2006.
GRAIN Commodities on the Brno Commodity Exchange are rising rapidly in value, driven by the high demand for Czech grain on the world market, the exchange’s secretary reported Dec. 28. Fodder barley saw an 82 percent rise in growth year on year, with prices rising on all grains this fall after the year’s harvest. Around 7 million tons of grain was harvested in the Czech Republic in 2007, or almost 11 percent more than the amount harvested in 2006.

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