Category archives for: Business

Czechs Set To Take Over Chunk of Slovak Gas Industry

gas-pipeline

Some questions are being raised into the Slovak government’s idea of the restructuring of gas utility SPP, and whether the state is not selling out cheap to the proposed Czech investors. An agreement drawn up by the government in co-operation with the current foreign shareholders and the proposed new minority owner  Energetický a průmyslový holding […]

Pozor Prague! Corruption and EU funds in CZ

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Czech to lose at least Euro 1 bil in EU aid.The European Commission (EC) will cut the subsidies awarded to the Czech Republic’s development projects by one billion euro as a sanction for numerous cases of fund mismanagement and abuse.The sum may further increase.According to unofficial information, the sanction will be imposed on four operational programs […]

Czechs Set To Take Over Slovak Gas Utility SPP

gas-pipeline

Former Slovak monopoly gas utility SPP could be sold in a matter of months with Czech billionaires set to take over the lucrative enterprise. Here TheDaily.CZ provides you with a translation of an article today in Hospodarske Noviny. SPP could be sold within a matter of months. The company Slovak Gas Holding will most likely […]

Penta Acquires Lloyds Pharmacies and Gehe Distributor

Pharmacy

Penta Investments has agreed with Celesio AG to acquire its Lloyds pharmacy chain and Gehe wholesale distributor in the Czech Republic at a purchase price of around EUR 84.5 million. Lloyds operates 55 pharmacies and is the third largest pharmacy chain in the Czech Republic, while Gehe is the fourth biggest wholesale pharmaceutical distributor in the […]

Can Eastern Europe escape the eurozone crisis?

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Countries in Eastern Europe have until now shown remarkable economic resilience, after being hit harder by the 2008–2009. But their economic future relies on a new model of growth, argues Jana Grittersova on Euroactiv. Jana Grittersova is a professor at the University of California-Riverside and an Austrian Marshall Plan Foundation Fellow at the Johns Hopkins University […]

Czechs Look Set To Take Slovak Gas Utility

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Speculations surrounding who will gain control over gas utility SPP as the French and German investors contemplate their withdrawal are now starting to take shape, with the energy holding of financial group J&T and two Czech billionaires most likely to become the new owner. While in Berlin this week, PM Robert Fico even discussed the […]

75th anniversary of the Prague-Budapest route

CSA Airbus A319. Photo by Konstantin von Wedelstaedt

Management from CSA Czech Airlines and Budapest airport held a celebration event at Budapest Airport’s 2B last week to celebrate the 75th anniversary of the first flight between the cities of Budapest and Prague, which took place on 23 May 1937. CSA Czech Airlines now operates the same route up to five times a day, carrying approximately […]

Czech Company Conergy Conquering Eastern Europe

Conergy is one of the world’s largest renewable energy companies and the German company Conergy has become the domain of the Czechs. The parent company in Hamburg is one of the largest dealers of solar modules in Germany, but Conergy has commissioned its Czech branch to head to other markets. The company Conergy in the […]

Czechs/Slovaks Want Milder Chemicals Law

photo by Joe Sullivan

The Czech and Slovak governments are pressuring European leaders to reconsider “excessive” safety regulations on the chemicals industry that they contend hurt smaller businesses and undermine economic growth. The countries’ concerns are outlined in a document submitted to the Council of Ministers, arguing that smaller businesses need leeway in complying with the EU’s Registration, Evaluation, Authorisation and […]

Czech central bank kept the interest rate low

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The council of the Czech National Bank (CNB) decided that the base interest rate will remain at 0.75%. The decision is being welcomed by Czech industrial companies, which don’t want to pay higher interest on the loans they need to promote and finance their exports. With this decision, the Czech government will not need to […]

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