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November 22nd, 2008
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June 4th, 2008 | Current Issue

Stonewalled
ČSSD MP crusades for transparency on tax-dodgers list

Nečas takes on EU work bans
Urges Germany to follow France in lifting restrictions

Czechs no longer brew top pilsner
Australian brewer now makes world's best Bohemian lager

Neighbors hook up electricity markets
Slovaks look to buffer growing energy deficit

Chamber looks to aid foreign workers
Project promises to supplement flawed work visa system

Biz Events
Dates of Note

QPG has four new leaders
Movers & Shakers

BRIEFS


AIRPORT The Cabinet has approved a plan to sell 100 percent of Prague’s Ruzyně Airport directly to a strategic partner, Prime Minister Mirek Topolánek said June 2. The privatization will remain an extended process, with the new owner expected to be announced in the second half of 2009. The Finance Ministry said it hopes the sale will net over 100 billion Kč ($6.2 billion) for the state.

GAS Natural gas suppliers have announced a large price increase to take effect in July, Právo reported May 31. RWE Transgas, the largest distributor, will raise household prices by 9.6 percent, its third increase this year. E.ON, which supplies south Bohemia, will up prices by 15 percent. Prices in Prague, meanwhile, will increase by 9.55 percent.
PENSIONS The government’s pension reforms will aim to do away with the requirement that private pension funds guarantee a profit, Hospodářské noviny reported May 30. The change would allow fund managers to use riskier investment vehicles in the hopes of greater yields. The proposal is part of the reform’s second stage, which is scheduled to come after the raising of the retirement age.
PRIMA The commercial broadcaster Prima has signed deals to share its television programs with Stream.cz and its news footage with
Novinky.cz, Lidové noviny reported June 3. Prima has also signed a deal with Seznam, the country’s largest portal, to show content with a time delay. The deal is exclusive and will end Prima’s cooperation with competitors Centrum and Atlas.
FINS The large Finnish construction firm YIT is entering the Czech market through the acquisition of Euro Stavokonsult, the company announced May 29. The company, renamed YIT Stavo, will focus on building houses in Prague and its environs. YIT is one of the largest foreign construction firms on the Russian market. Financial details of the deal were not released.
SUBSIDY The Cabinet approved May 28 a subsidy of 1.4 billion Kč to improve the roads and infrastructure around Škoda Auto manufacturing plants in Vrchlabí and Mladá Boleslav. The subsidies come on the condition that Škoda’s owner, Volkswagen, expand its Vrchlabí plant, adding almost 2,000 new jobs. VW is considering building its Up! minicar at Vrchlabí.
AERO For the first time in three years, the aircraft manufacturer Aero Vodochody made a profit in 2007, the company reported May 27. Aero’s turnover rose 47 percent in one year to 4.3 billion Kč, fueled by growing sales to the U.S. helicopter maker Sikorsky and company restructuring. The Czech-Slovak investment group Penta bought Aero in 2006 and plans to invest 1.5 billion Kč in the company by 2012.
TRAM The tram manufacturer Škoda Transportation has received its largest foreign order in more than 15 years, the company said May 27. Riga, the capital of Latvia, has ordered 20 low-floor trams for 1.3 billion Kč, with an option to purchase 32 more. Škoda will deliver its first prototype by June 2009, with all the trams delivered within the subsequent three years.

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