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December 4th, 2008
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January 23rd, 2008 | Current Issue

Investment identified
Local firms and researchers look to tap missile-defense dollars

Prague bourse falls amid turmoil
Fears of recession in U.S. force exchanges down worldwide

Smoking bans a smoldering issue
Pubs in German border towns embrace the end of an era

Corporate tax fluctuations draw criticism
Study ranks ČR's tax system third to last in Europe

Biz Events
Dates of Note

10 Questions
with Josef Jaroš
10 Questions

Movers & Shakers
Skanska names president
Movers & Shakers

BRIEFS


HEATING The engineering firms Škoda Praha and Škoda Power are in talks with Slovakia’s SES Tlmače to build a massive heating plant in Vietnam, Hospodářské noviny (HN) reported Jan. 22. Negotiations on the plant, which would total 3,000 megawatts in production, are well under way, said Industry and Trade Minister Martin Říman.

MILK Dairy farmers and Madeta have reached a compromise on raw milk prices, HN reported Jan. 21. The Jih milk cooperative had threatened to cut supplies to Madeta, the country’s largest dairy, if it did not raise prices closer to German levels. Jih will supply milk to Madeta for at least another year at 10.30 Kč per liter, a slight increase.
SALE Neither the government or the Finance Ministry have decided to sell less than the planned 7 percent share of the state-controlled energy giant ČEZ, Finance Minister Miroslav Kalousek told the Czech News Agency Jan. 18. Sources in the Industry and Trade Ministry had said the government might reduce the number of shares it planned to sell.
GENERALI The joint-venture Generali PPF Holding has received final approval from market regulators and has begun operations, the company announced Jan. 17. The venture merges the Italian insurer Generali and Česká pojišťovna (ČP), the largest domestic insurer. The merger will not affect ČP’s local operations, the company said.
ENERGY Expect electricity prices to continue rising at least 10 percent for the next three to six years, Deputy Industry and Trade Minister Tomáš Hüner said in an interview with Thomson Financial published Jan. 17. Hüner also came out in support of nuclear power as the country’s sole environmentally sound energy option, calling for the removal of coal-mining limits.
PILOTS Czech Airlines (ČSA) and the pilots’ union have ended their nine-month dispute and agreed to a deal on wages, HN reported Jan. 17. The pact, which lasts until 2010, sets pilots wage raises between 1 and 2 percent above the inflation rate. Eight of the nine unions representing ČSA workers have signed collective bargaining agreements with the airline.
REVVING Škoda Auto sold a record 630,032 cars in 2007, up 14.6 percent from 2006, the company announced. Škoda’s sales grew twice as fast as its German owner, Volkswagen. Škoda sold 327,222 cars in Western Europe, raising its market share to 2.2 percent. The best-selling model was the Octavia, with 237,422 sold.
EXCISE The Chamber of Deputies passed an amendment to the excise duties law Jan. 16 aimed at preventing tax evasion that could follow the mandated addition of bioethanol to gasoline, which began Jan. 1. The amendment passed unopposed and will close several critical loopholes, as well as reduce taxes paid on biodiesel.

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