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Business - page 16

Vaclav Klaus
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Philip Morris ČR expands despite EU

President Klaus on hand to cut ribbon, criticize regulation President Václav Klaus officially cut the ribbon on the Philip Morris expansion in Kutná Hora, citing the importance of the company to the country’s economy and criticizing European Union moves to further regulate the industry. Klaus, a nonsmoker according to the Czech News Agency (ČTK), attended… Keep Reading

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Google under investigation for stealing private data

Czech inquiry falls in line with international suits, as Internet giant calls incidents “accident” Internet giant Google has apologized for the interception of personal data from Wi-Fi networks while gathering information for its Street View service. The expressed regret comes a month after the Czech Office for Personal Data Protection launched a probe into the… Keep Reading

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Encouraging a head for business

Gov’t kicks off initiative to improve financial literacy among general population “Oligopsony” and “Fisher separation theorem” are meaningless terms to the average citizen, but the government nevertheless wants to see the general population get a stronger grasp of the fundamentals of economy and personal finance. The National Strategy for Financial Education went into effect May… Keep Reading

Solar subsidies will end
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Solar subsidies will end

Massive profits, overload of energy grid mean will limit government incentives Grid stability weakens as ČEPS accepts an increasing number of solar panels onto the grid. Gray skies over Prague belie a massive solar energy boom in the Czech Republic that threatens to increase electricity prices and destabilize the grid. Facing pressure from electricity companies… Keep Reading

ČSA board Chairman Miroslav Dvořák
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Czech Airlines sells headquarters to Prague Airport

Move is latest attempt at cash infusion for financially troubled carrier National carrier Czech Airlines (ČSA) may be expecting a forecast that remains in the red for 2010, but recent events, including a huge asset sale announced Dec. 30, have given reason to hope that the troubled airliner could avoid bankruptcy and even post a… Keep Reading

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ČEZ is world’s most profitable energy company

Some call firm “a monopoly,” others say innovative integrated network keeps costs low The average shareholder return on ČEZ shares over the past five years is 43.9 percent. Czech energy company ČEZ is the world’s most profitable energy producer, according to a new report that puts the company among an elite. The company has been… Keep Reading

Czech beer
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InBev sells Staropramen brewery to offset losses

CVC is expected to buy the brewery for 40.1 billion Kč Prague 5’s historic brewery could come under new foreign management next year. A foreign investment firm has offered to purchase the Czech Republic’s second-largest brewery in a deal that is expected to close Jan. 1, 2010. Anheuser-Busch InBev reached an agreement Oct. 15 to… Keep Reading

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An electric test-drive for NGOs

ČEZ will lend 50-100 electric cars to charities over the next few years This fall, Domov Sue Ryder, the Prague chapter of a healthcare charity for senior citizens, will have two new volunteers. However, instead of helping hands, these volunteers will bring eight wheels and two batteries and will bear the logo of the biggest… Keep Reading

Europe map
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Wasting energy

Pačes commission delays critical report on nuclear power It was supposed to diffuse a potentially explosive political conflict over nuclear power, but an independent panel of experts commissioned to study the future energy needs of the Czech Republic almost led to a government meltdown last week. After months of preparation, the group failed to present… Keep Reading

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Four partners for E&Y

The consulting firm Ernst & Young (E&Y) Czech Republic has appointed four new partners. Milan Kočka, 35, and Běla Kroupová, 40, have become partners in the assurance division. Markus Lohmeier, 40, has been appointed a partner in the advisory division and Peter Wells, 38, has become a partner in the transaction advisory services division. Kočka’s… Keep Reading

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