Wednesday, 21 October 2020

Bloomberg

FinMin says it plans early bond buybacks in 2011, 2012

Bloomberg |
22 September 2010

Finance Ministry is considering buying back state bonds worth as much as CZK 60 billion (USD 3.2 billion) before maturity in the next two years, according to a draft law.

RWE plans to invest USD 1.6bn in ČR over next five years

Bloomberg |
21 September 2010

RWE AG, Germany's second-biggest utility, said it plans to invest CZK 30 billion in the next five years to expand its operations in the Czech Republic.

Broken budget promises block plans to rebuild highways in eastern Europe

Bloomberg |
15 September 2010

In the rural eastern corner of the Czech Republic, residents of Frýdek Místek thought they were finally close to getting the new road they craved for 14 years. Plans were in place to spend an estimated USD 234 million on a highway bypass for the 45,000 trucks and cars that travel each day through the 700-year-old town. The project, approved locally in 1996 and scheduled to start in less than two years, is now one of dozens in eastern Europe that may be delayed because of budgetary constraints.

Civic Democrats want budget cuts to avoid Greece's fate

Bloomberg |
4 May 2010

The Civic Democrats will cut budget spending and prevent rising debt from pushing the country into a Greek-style financing crisis if they lead a government following elections this month, the party's leader said.

Czech recovery may be hobbled by widening deficits, higher debt

Bloomberg |
4 December 2009

The Czech economy's recovery from recession may be hobbled as the government's widening budget deficit drives up public debt and threatens to prompt higher borrowing costs, the Czech Banking Association said. The country's borrowing needs will rise 4% in 2010 to CZK 280 billion, the Finance Ministry said Thursday, after the budget shortfall this year rises to an estimated 6.6% of GDP, more than double the European Union's 3% limit.

FinMin Kalousek reiterates 'comprehensive' budget changes

Bloomberg |
13 September 2010

Finance Minister Miroslav Kalousek said creation of a balanced state budget will be impossible without changes to the country's tax system, tax increases and cuts in spending. The government is planning "not only parametric but also systemic" changes to the tax code that would be passed in parliament next year and take effect in 2012, Kalousek said Sunday on a panel discussion show on Prima TV.

Economy expands most in two years on 'surprising' domestic demand

Bloomberg |
9 September 2010

Czech economy grew at the fastest pace in two years in the second quarter as declining unemployment and rising wages led to an unexpected increase in demand from domestic consumers.

ČR's 'huge' eurobond demand means Romania, Ukraine to follow

Bloomberg |
8 September 2010

Romania and Ukraine will likely face "strong" demand for their planned eurobond offerings after the Czech Republic raised euro-denominated debt in an oversubscribed issue, Credit Agricole Cheuvreux SA said.

Czech funding costs tumble below Italy's at first eurobonds sale this year

Bloomberg |
7 September 2010

The Czech Republic sold its first euro-denominated bonds in more than a year as planned austerity measures and optimism about emerging-market debt sends the country's borrowing costs below those in higher-rated Italy.

ČEZ to scale back investments on power outlook

Bloomberg |
3 September 2010

ČEZ, the Czech Republic's largest power producer, will scale back investments next year as it is not clear that electricity prices will continue to rise, Trading Director Alan Svoboda said.

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