Sunday, 29 March 2015

Reuters

European court annuls exemption for Czech gas storage facility

Reuters |
27 March 2015

The European Court of Justice on Thursday ruled that a Czech gas storage facility to be run as a joint venture between Gazprom and the Czech oil and gas company MND Group must be accessible to outside suppliers.

Czech president reiterates opposition to weak crown policy

Reuters |
27 March 2015

Czech president Miloš Zeman reiterated his opposition to the Czech central bank's weak crown policy on Thursday, after the bank's board agreed to keep in place a cap on the exchange rate with the aim to support price growth.

Reuters: ČNB to leave FX regime untouched, no change in exit plans

Reuters |
25 March 2015

The Czech central bank (CNB) will not adjust its weak crown policy or postpone the planned exit from the program at its March 26 board meeting, but may expect the market to test its resolve to defend the exchange rate cap at some point, a Reuters poll showed on Tuesday.

Czech banking association says to stop calculating PRIBID

Reuters |
19 March 2015

The Czech Banking Association has agreed with the Czech Forex Club to stop calculating Prague interbank bid rates (PRIBID) from July due to their unnecessity, the institutions said in a joint statement on Wednesday.

Czech central banker: no reason for crown to hit 2008 levels when cap goes

Reuters |
19 March 2015

The Czech crown will not necessarily return to levels seen before the central bank began its intervention programme once it gives up the currency cap, a senior central banker said on Wednesday in a banking magazine article he co-wrote.

Builder Skanska denies media reports of graft in Czech road deal

Reuters |
18 March 2015

Swedish construction company Skanska denied on Tuesday media reports that it paid millions of Swedish crowns in bribes to secure a highway contract in the Czech Republic five years ago.

Broadcaster CME swings to profit on Czech turnaround

Reuters |
13 March 2015

Czech broadcaster Central European Media Enterprises (CME) topped its full-year profit guidance after swinging to a fourth-quarter core profit, boosted by a Czech market turnaround that looks set to slow.

Czechs decline comment on Russian espionage report

Reuters |
13 March 2015

The Czech foreign minister declined to comment on Thursday on a magazine report about suspected espionage by Russian diplomats based in the country but he acknowledged that relations with Moscow were "not ideal". Citing Czech government sources, weekly magazine Respekt said on Thursday Prague had forced two Russian diplomats to leave the country in the past nine months and had denied a visa to a third who had been due to join the embassy staff.

Czechs may limit president's powers to name central bank chiefs

Reuters |
11 March 2015

The Czech government is drafting a law that would limit the president's powers, among them the sole power to appoint members of the board of the central bank, according to an proposal seen by Reuters on Tuesday. The proposal, posted on the government website, would give the upper house of parliament the right to vet board nominees chosen by the president. The president now appoints the seven board members himself.

Czech government approves sale of fighter jets to Iraq

Reuters |
10 March 2015

The Czech government has approved a sale of 15 subsonic fighter planes to Iraq, the defense minister said on Monday, following the failure of a previous attempt to offload surplus stock to Baghdad.

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