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November 22nd, 2008
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May 28th, 2008 | Current Issue

Break time
Mining union pushes back against rise in retirement age

PM sells nuclear power at forum
Topolánek asks EU to recognize nukes as a low emissions source

NGO lures corporate workers
Vodafone Foundation to pay for year of nonprofit experience

Debt collection by agencies almost doubles
Rise in consumer loans behind growth

Biz Events
Dates of Note

10 Questions
with Dalibor Jakuš
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Herbert in the money
Movers & Shakers

BRIEFS


TATRA The military temporarily suspended taking trucks it ordered from Tatra due to flaws in the vehicles’ cabs, the Czech News Agency (ČTK) reported May 23. Tatra countered that the flaws, which allowed rainwater to leak in, stemmed from a sealant purchased from a Czech manufacturer. Favoring local contractors was a condition of its 2.6 billion Kč ($163 million) contract for 810 military trucks, the company said.

POWER The Czech Republic and Slovakia have agreed to drop the border restrictions between their electricity markets, the Industry and Trade Ministry announced May 23. The unified markets will eliminate the need for auctions to reserve cross-border capacity, the ministry said. Slovakia has recently become a net electricity importer, while the Czech Republic is a net exporter.
SUBSIDY The Cabinet has agreed to provide annual subsidies of 800 million Kč to regions damaged by coal mining, the government announced May 22. The largest sum will go the Ústí region of north Bohemia, which will receive 450 million Kč. The money will be used to revitalize the landscape, which has been devastated by brown-coal strip mining.
DIVIDENDS The state received 15.2 billion Kč in record dividends from the dominant energy utility ČEZ, Právo reported May 22. The dividends, announced at the company’s annual general meeting, will be partially used to pay for the recently approved subsidies to coal-mining regions. The meeting also approved another share buyback program for ČEZ.
ARBITRATION The Finance Ministry has lost another arbitration case against ČSOB, E15 reported May 27. The Economic Chamber’s arbitration court ruled for ČSOB in two disputes over the companies Detax and Autex Centrum, both tied to the long-running fallout from the bankruptcy, subsequent bailout and sale of the bank IPB in 2000.
BREWING The Bernard brewery has launched a line of specialty shops to sell the brewery’s products, including custom beer, ČTK reported May 26. The independent brewer has already opened stores at Humpolec, Jindřichův Hradec and Prostějov, with another planned for Opava, north Moravia. Bernard has boosted its beer production 24 percent in one year.
ADS Advertising revenue for the country’s nine largest daily newspapers fell for the first time in years in 2007, dropping by 8.6 percent to 7.57 billion Kč, the Czech Publishers Association announced May 25. Only two papers announced a rise in sales: the tabloids Šíp and Aha. Právo had the biggest decline, with ad revenues falling nearly a quarter.
FEZKO France’s Michel Thierry Group (MTG) is acquiring the Czech company Fezko, one of the largest producers of auto textiles in Europe, MTG announced May 21. The deal is pending approval by the Anti-Monopoly Office. Fezko recorded 1.47 billion Kč in sales last year, supplying textiles to Škoda Auto, Volkswagen, Ford and KIA. The company employs 600 people.

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