NEWS
Leaders pledge to rush elections
At an emergency Prague Castle meeting yesterday, party leaders agreed to rush a constitutional amendment through Parliament next week that would allow early elections soon after the originally planned dates of 9-10 October. The move follows Tuesday’s Constitutional Court decision to suspend election preparations. The court will hear arguments on 10 September on MP Miloš Melčák’s complaint that the early elections were unconstitutional.
Source: most Czech press
Ministry study: Schools still discriminate against Roma
A new study by the Education Ministry’s Institute for Information on Education says 27% of Czech Roma children suffer discrimination in access to education by being automatically placed in special schools designed for the mentally handicapped. According to the report, the country is not abiding by the 2007 European Court of Human Rights ruling that banned transfer of Roma children from primary to special schools.
Source: MfD A7
Slamečka: Private funds, expropriation law for D3
Transport Minister Gustáv Slamečka said yesterday that he will not support construction of the D3 motorway in southern Bohemia if the lower house does not pass legislation authorizing expropriation of property. The bill is on the MPs’ agenda next week. Slamečka also said he plans to build the road with the participation of a private investor to decrease the state’s expenses by 8%.
Source: HN 6
ČD extends summer discounts
Czech Railways (ČD) is extending its summer discount campaign until the the end of the year. Marketing director Aleš Ondrůj said the offer of cheap tickets helped the firm attract 2 million travellers this summer. ČD also launched a new round of contract talks with regional representatives after Monday’s cabinet decision to earmark CZK 2.65 billion per year on rail transport in regions.
Source: HN 18, E15 8
TOP 09 calls for tuition fees, less welfare
New party TOP 09 yesterday formally launched its election campaign. The party’s leaders, former cabinet ministers Karel Schwarzenberg and Miroslav Kalousek, pledged to curb unemployment benefits and other social spending, introduce tuition fees at universities, charge cash co-payments in healthcare and cut red tape.
Source: HN 6, Právo 4, ČTK
ODS ad ridicules Paroubek’s ‘Martian’ statement
An ODS campaign spot launched online and in cinemas today spotlights opposition leader and then-PM Jiří Paroubek’s 2005 statement that to get legislation through Parliament he was prepared to work “with the help of the Communists or …. even with the Martians”. The 90-second ad was directed by noted filmmaker Filip Renč.
Source: ČTK
SFRB seeks more funds for home upgrades
SFRB, the state fund for housing development, has asked the government to increase its 2010 spending to CZK 7.7 billion, more than CZK 2bn above this year’s budget. The governmental agency subsidises repairs of apartment houses and construction of new co-op flats and social housing.
Source: ČTK
Flu vaccination for Liberec workers
Liberec officials said yesterday that the town would provide common flu inoculations to 570 of its civil servants, municipal police and public transport drivers to protect them from a feared swine flu outbreak. Specialised swine flu vaccines are not commonly available, but experts say shots for common flu help ease swine flu symptoms.
Source: ČTK
BUSINESS
Stocks take biggest tumble in three months
Following a decline on international markets, the Prague Stock Exchange’s main PX Index lost 4.04% yesterday, closing at 1,120.1 points, the biggest slump in the past three months. Orco suffered the biggest decline, with shares dropping 8.45%. Komerční banka, Erste, ECM and NWR were also down.
Source: HN 1, 23, E15 10
Slovak ministry revokes SkyEurope’s licence
The Slovak Transport Ministry yesterday cancelled the licence of bankrupt airline SkyEurope. Ministry spokesman Stanislav Jurikovič said the budget carrier has repeatedly failed to pay debts to airports and navigation firms and provide service to its clients. SkyEurope head Nick Manoudakis told Mladá fronta Dnes he is looking for investors to build a new airline. SmartWings, WizzAir and Czech Airlines have sold some 10,000 discounted tickets to customers with now worthless reservations for SkyEurope flights to or from Prague.
Source: MfD B2, HN 15, ČTK
Penta wants to turn Vodochody into intl airport
Letiště Vodochody owner Penta Investments wants to turn the airfield north of Prague into an international airport capable of handling 3.5 million passengers a year, Mladá fronta Dnes reports. Villages in the airport’s vicinity oppose the move. Robert Kotál, an expert on air traffic, said the project could relieve congestion at Prague Airport.
Source: MfD C1, C2
Lost projects thin state export insurer’s assets
The Export Guarantee and Insurance Corporation (EGAP), a state-owned insurer of foreign investment loans, has lost CZK 1 billion in payouts on projects that fell through due to the recession, notably a Pakistani deal involving PA Exports (formerly Škoda Export). Hospodářské noviny reports that EGAP’s losses could affect its ability to cover foreign loans expected to reach CZK 100 billion next year, up from this year’s CZK 70 billion.
Source: HN 1, 15
Minister seeks aid for struggling tourism industry
Regional Development Minister Rostislav Vondruška yesterday asked MPs to reduce VAT for tourism services and adopt other measures to help the tourism sector recover from the recession.
Source: ČTK
KB to charge for ATM balance check
Komerční banka clients will pay CZK 2.50 to check their account balance on KB bank machines starting 1 November, according to a new price list the bank released yesterday. The fee will be CZK 10 to check KB accounts on other banks’ ATMs. KB is the first Czech bank to charge for electronic balance checks.
Source: LN 14
Germany ends cash-for-clunkers scheme
Buyers of new cars in Germany will no longer receive a EUR 2,500 bonus for scrapping their old car, as the government’s programme has run out of money after less than eight months. The scheme has revitalised car sales in Germany, boosting sales for mostly smaller models from German manufacturers and top Czech maker Škoda Auto.
Source: ČTK, HN 21
ČEZ offers floating electricity rates
Power giant ČEZ will allow corporate customers to buy electricity at the current prices on the daily wholesale market plus a fee. Today firms have to sign monthly, quarterly or yearly fixed-price contracts. Companies will buy the next-day futures through Česká spořitelna.
Source: ČTK
E15: Banks tighten conditions for solar financing
E15 reports that banks are setting stricter conditions on loans for construction of solar power plants due to the Industry and Trade Ministry’s planned changes in the law on renewable energy. The proposal would abolish the current 5% limit on state-mandated reductions in electricity prices. Banks fear the state will be able to more easily change project conditions, prompting investors to take projects abroad.
Source: E15 6
OP Prostějov rebounds from record loss
The biggest Czech textile producer, OP Prostějov, is predicting a 2009 profit following last year’s record losses of CZK 1.1 billion. Chairman Milivoj Žák said the company has closed unprofitable plants and restructured retail operations, enabling it to return to the black by the end of the year.
Source: HN 15, 16, 17, E15 1, 14, 15
Investors jump on Czech bonds
The Finance Ministry yesterday auctioned off government bonds worth CZK 5.8 billion, more than the planned CZK 5bn. The 10-year notes with a 5.1% coupon attracted bids totalling CZK 13bn.
iHNed.cz
Seventeen vie for top public radio job
Czech Radio’s governing board yesterday reduced the number of candidates for the post of the public broadcaster’s general director from 20 to 17, saying three hopefuls did not meet requirements.
Source: LN 14
