Thursday, 2 September 2010
Business | aktuálně.cz
Škoda with new CEO to help VW become biggest carmaker

Škoda Auto, a Czech carmaker and a subsidiary of the Volkswagen group, has survived the financial crisis with no significant difficulties, thanks to the car scrapping scheme in Germany and Chinese demand. However, in the following months, Škoda is likely to undergo the most significant changes since it was bought by Volkswagen in 1991. The reason is Winfried Vahland, Škoda's new chairman appointed by Volkswagen.
Finance | ČTK
FinMin raises budget revenues, spending by CZK 128bn next year

The Finance Ministry in the 2011 budget proposal submitted to the government earlier this week raised revenues and expenditures by CZK 127.7 billion. The planed budget deficit of CZK 135 billion has been retained.
Finance | ČTK
Ministry plans to collect CZK 531.5bn in taxes next year

The state should collect CZK 531.5 billion in all kinds of taxes, including customs duties, next year, some CZK 9 billion more than it plans for 2010. Taxes thus are to contribute a half to state budget revenues, according to Finance Ministry's budget proposal.
Finance | ČTK
State budget gap up at CZK 78.7bn at end-August

Czech state budget gap grew to CZK 78.7bn at end-August from July's CZK 69bn, the Finance Ministry told CTK Wednesday. In the same year-ago period, state budget showed a deficit of CZK 89.6bn.
Finance | ČTK
State debt to reach almost CZK 1,500bn at end-2011

The Czech Republic's state debt will grow by one-tenth to CZK 1,472bn in 2011, which will be in absolute terms an increase of CZK 136.2bn compared to this year, according to the Finance Ministry's data contained in the state budget draft for next year.
Finance | ČTK
FinMin to issue bonds, bills worth total CZK 55bn in Q4

The Finance Ministry plans five state bond issues for CZK 30bn and wants to issue treasury bills for CZK 25bn in Q4 this year, according to an issuance calendar published by the ministry Wednesday.
Finance | ČTK
Czech, Luxembourg cbanks issue silver commemorative coin

The Czech and Luxembourg central banks put into circulation a silver coin commemorating the 700th anniversary of the marriage of John of Luxembourg (1296-1346) and Bohemian royal daughter Elizabeth Premyslid (1292-1330) Wednesday.
Business | Radio Prague
Gradual demise of Czech fashion icon

It's the end of an era for the Czech fashion manufacturer and retailer OP Prostějov. As of 1 September the company that ruled the roost of the Czech fashion business has had to close the door on its readymade wear production, and is hoping to survive as a select producer of tailor-made clothing.
Business | Forexyard/Reuters
Czech public sector unions unite for protest

Czech health workers, civilian army staff, road workers and state administration employees plan to join police and firefighters in a demonstration next month to protest against government plans to slash spending.
Business | Bloomberg
Unipetrol posts profit helped by demand, margins

Unipetrol, the Czech Republic's largest refiner, posted a second-quarter profit after demand for refinery products rebounded and margins improved.
Business | Real Estate | ČTK
Orco with EUR 238m profit in H1 against EUR 199m loss last year

Developer Orco Property Group made a profit of EUR 238m (almost CZK 6bn) at end-June this year against last year's loss of EUR 199m (CZK 5bn), the firm said Tuesday.
Business | ČTK
Pražská plynárenská to cut gas prices

Gas distributor Pražská plynárenská has changed its plan to keep gas prices flat in the fourth quarter of this year and will cut them by one percent or more for households as of October 1, Miroslav Vránek of the sales director office told ČTK Tuesday.