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September 7th, 2008
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March 26th, 2008 | Current Issue

Fishy business
Despite EU protection, fishery frets over carp market

Mission boosts Vietnam trade ties
Business junket sees investment in highways, energy

Palladium tenants deal with losses
Shops and cafés criticize mall's handling of shutdown

ČNB looks to freeze privatization funds
Deal aimed at stemming further growth of the crown

Biz Events
Dates of Note

10 Questions
with Ronald Adams
10 Questions

Citi's Pijls heads to the UK
Movers & Shakers

BRIEFS


LGT Czech officials have requested data from Germany on Czech companies and entrepreneurs who may have dodged taxes through Liechtenstein’s LGT Bank, the news server Aktuálně.cz reported March 19. The Finance Ministry called the Aktuálně.cz story mere speculation unworthy of any comment.

REPAID A state-owned Russian natural gas company has finally repaid its debt to ČSOB, five years after halting payments to the bank, Thomson Financial reported March 21. Kamchatkagazprom (KGP) owed $37.8 million ( to ČSOB, which it borrowed to help build a 400-kilometer pipeline in eastern Russia. ČSOB won an arbitration case against KGP in 2006, which was upheld in Russian courts.
HEINEKEN The Dutch brewer Heineken will buy the beer and alcohol producer Drinks Union, Euro reported March 25. Such a move would further strengthen Heineken’s share of the domestic beer market, which currently stands at some 8 percent thanks to its control of Starobrno and Krušovice. Drinks Union owns four breweries including Zlatopramen.
SPENCER The UK retail chain Marks & Spencer (M&S) has purchased a 51 percent stake in COMS, the Czech-owned company that operates 13 M&S outlets in Central and Eastern Europe, The Guardian reported March 21. M&S paid $13.6 million (220 million Kč) for the stake and says it plans to open 30 new stores in the Czech Republic, Slovakia, Latvia and Lithuania.
ROMANIA The dominant energy utility ČEZ has acquired a 15 percent stake in a nuclear power plant project in Romania, the company confirmed March 19. The joint venture with Romania’s state energy group, Societatea Nationala Nuclearelectrica, is aimed at building two additional reactors at Romania’s Chernavoda plant, costing some 2.3 billion euros ($3.6 billion/58.6 billion Kč). ČEZ is looking for additional nuclear projects in Central and Southeast Europe, the utility said.
SHOPLIFTED Shops in Prague are being increasingly victimized by packs of Italian-speaking teenagers with sticky fingers, Mladá fronta Dnes reported March 21. Shopkeepers complained to the paper that youths flood the store, blocking any view of the manager and then proceed to steal alcohol, T-shirts, glassware and caps. One store owner resorted to only allowing four teenagers in at a time during peak hours.
UAE The Vítkovice engineering group is in talks to build an indoor skiing complex in the United Arab Emirates (UAE), the Czech News Agency reported March 24. The hall would be located on a desert mountain near Abu Dhabi and would be two kilometers long and 200 meters wide. The UAE is the Czech Republic’s second largest export partner outside of Europe, after the United States.
ADVERTISING The ad firm Euro RSCG has again been named the advertising agency of the year, an award it has now won four times, the Czech Association of Communication Agencies announced March 19. Following Euro RSCG were Mark/BBDO, McCann Erickson, Young & Rubicam and Kaspen. The award recognizes the creativity and efficiency of a firm’s campaigns.

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