Business | ČTK
ČSSD wants crisis impact to be softened by higher spending

Social Democrats want to soften the economic crisis' impact by raising state expenditures by CZK 30 billion to CZK 50 billion, which would restart the economy in two years, ČSSD head Jiří Paroubek said at a press conference Thursday.
Business | Respekt
Crisisbusters MonitorPlus

Who you gonna call? Nowadays, companies ring hired guns. Experienced managers who come to perform miracles and bring companies back to life.
Business | ČTK
SkyEurope CEO Jason Bitter resigns

CEO and board chairman of Slovak low-cost air carrier SkyEurope Jason Bitter resigned Thursday after mutual agreement, spokesman Tomáš Kika told ČTK Thursday.
Business | ČTK
ČEZ borrows almost CZK 7bn for wind park in Romania

Energy group ČEZ has borrowed EUR 262.3m for the construction of a wind park in Fantanele, Romania, the firm said Thursday.
Business | ČTK
HSBC bank with CZK 386m loss in ČR in 2008

HSBC bank sustained CZK 386.2m loss in the Czech Republic last year, while in 2007 it netted CZK 66m and a year earlier its net profit reached CZK 132m, the bank's financial statement in the Collection of Documents showed.
Business | Reuters
Debt-starved property market shrinks

The Czech Republic's commercial property investment market has all but ground to halt with just four transactions completed in the first half of 2009, a study by broker CB Richard Ellis (CBRE) showed.
Business | ČTK
Mag: Travel agents' margins down by third this year

Travel agencies and tour operators reduced their margins by a third this year compared with 2008 in an effort to attract clients, according to calculations of Mag Consulting.
Business | ČTK
Lesy ČR raises 2008 net profit to CZK 461m

State-run forest company Lesy ČR last year increased net earnings by 62% to CZK 461m from CZK 284m in 2007 owing to cost-cutting measures and higher income from the sale of long-term assets and material.
Business | ČTK
Penam profit down in 2008, sales up at record CZK 3.8bn

The second largest Czech bakery Penam made an audited net profit of CZK 143.63m in 2008, a year-on-year drop of CZK 26m, while its sales rose by CZK 801m to a record CZK 3.776bn on a higher volume of sold products.
Business | ČTK
Engineering company Massag is in insolvency proceedings

Engineering company Massag Bílovec is in insolvency proceedings as of Thursday, with proposition for insolvency being submitted to the Ostrava regional court by steel producer 1CSC PRECISION TUBES.
Business | Prague Post
Be your own boss, save on taxes

After being banned for much of the 20th century, self-employment became legal in 1990 and has since skyrocketed, reaching an all-time high in the first quarter of 2009 and establishing entrepreneurial individuals as a significant part of the Czech work force.
Business | E15
E-cigarette heading for Czech market MonitorPlus

New competition is beginning to push tobacco concerns – electronic cigarette. The new company Think In wants to get as much as one percent of the market share with the electronic substitution.