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November 22nd, 2008
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June 18th, 2008 | Current Issue

Play it again
Vinyl records are making a comeback

U:fon launches mobile network
Country's fourth mobile provider plans to target families

Prague 2 to shutter certain hernas
Citing threat to kids, mayor seeks to close 19 gambling bars

Healthcare, transit worker stoppage looms
Unions threaten strike over pension reforms

Biz Events
Dates of Note

10 Questions
with Martin Diviš
10 Questions

ČBA re-elects Kunert
Movers & Shakers

BRIEFS


ZENTIVA The generic pharmaceutical company Zentiva has become one of the most outspoken critics of the government’s healthcare reforms, Hospodářské noviny reported June 17. Zentiva, which once supported the reforms, is now angry at a requirement that will lower the mandatory payments of health insurers for medicine. The requirement will force the pharmaceutical company to reduce prices at its own expense, it says.

POLYMETAL The investment firm PPF, in cooperation with two businessmen, has purchased a controlling stake in Polymetal, Russia’s largest silver miner, the company announced June 16. Aniketa Investments sold the shares, which PPF bought in cooperation with Alexander Nesis and Alexander Mamut. Financial details of the deal were not disclosed, but a Russian paper estimated the stake to be worth $2.1 billion (33.2 billion Kč).
PETROF The piano manufacturer Petrof has won an arbitration case against its former U.S. distributor, Geneva International, the Czech News Agency reported June 12. The arbitrator found that Petrof was justified in canceling a yearlong contract it had with Geneva for piano sales in the United States. The dispute now shifts across the Atlantic, where the two companies are wrestling over the Petrof trademark.
BAKALA The Czech coal mogul Zdeněk Bakala is exploring acquisitions in the rail industry, Bloomberg reported June 11. Bakala, one of the country’s richest men and the primary shareholder of New World Resources, said there are “significant opportunities” to buy freight operators from regional railways in the Czech Republic and neighboring countries. His rail company will become a significant regional player, he said.
BUDVAR State-owned Budějovický Budvar has begun exporting beer to China, the daily Mladá fronta Dnes reported June 17. The company’s first shipment, 206 hectoliters (5,356 gallons) of lager to Shanghai, will target foreign managers living in the country, with Budvar being sold at more expensive restaurants for up to 91 Kč per bottle.
LLOYD’S Lloyd’s of London, the world’s oldest insurance company, will expand its Czech offerings, E15 reported June 12. Lloyd’s plans to offer liability insurance for doctors, lawyers and other managers as well as insurance for art collections. Currently, the firm only offers indemnity services in the country.
COMPLAINT The Italian aircraft manufacturer Alenia Aeronautica has lodged a complaint against the Czech Republic with the European Commission, Alenia announced June 10. The company is disputing a deal the Defense Ministry signed with EADS, a competitor of Alenia’s, in April. The agreement called for swapping Czech subsonic fighters for transport planes. Alenia charges that the ministry discriminated against its offer and completed the deal without an open tender.
SLOWDOWN Economic growth in the first quarter was slower than the Czech National Bank predicted, the bank announced June 10. The economy grew 5.3 percent year to year, rather than 6.4 percent, as predicted. The main cause of the slowdown was a slump in consumer demand caused by high inflation, according to the bank.

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