NEWS
Cabinet to resign today; PM blames Tlustý, Bém, Klaus
Prime Minister Mirek Topolánek’s cabinet will hand in its resignation after meeting today. Topolánek said former ODS MP Vlastimil Tlustý, Prague Mayor Pavel Bém and President Václav Klaus are responsible for bringing the government down. Klaus said he does not expect the government’s collapse to alter the country’s post-communist development.
most Czech press
Topolánek: US crisis measures a ‘road to hell’
Speaking yesterday at the European Parliament, Prime Minister Mirek Topolánek criticised US crisis measures, calling them a “road to hell” that will endanger other countries. Topolánek said the Obama administration’s stimulus spending package echoed mistakes made in the 1930s and will undermine global financial markets. The PM’s words made headlines in the international media, with the Associated Press calling his statement the strongest by a European politician about the US crisis response.
HN 1, 3, ČTK
ODS senators seek quick route to early voting
ODS senators say the parliamentary parties should find the quickest way to hold early elections in the wake of Tuesday’s vote of no confidence in the government and that the process could be aided by passage of a draft constitutional amendment enabling the President to dissolve the Chamber of Deputies faster should the cabinet resign. The measure drafted by Senate was rejected by the lower house three years ago.
ČTK
Poll: ODS favoured in June EP elections
A CVVM survey shows ODS with a slight edge among voters in the European Parliament elections scheduled for June. ODS was favoured by 31% of respondents, followed by ČSSD with 29% and the Communists with 12.5%.
Právo 1
Czechs want to give presents to Obama
Many Czechs want to present gifts or pass letters to US President Barack Obama via the US Embassy during upcoming Obama’s Prague visit, but officials have ruled it out for security reasons. They recommend people post gifts directly to the White House. ČTK reports that PM Mirek Topolánek will present Obama with something “traditionally Czech”.
ČTK
Israel adds Pospíchalová to righteous list
Yad Vashem, the Israeli authority for remembrance of the Holocaust, awarded the title of Righteous Among the Nations to Anna Pospíchalová. The 82-year-old Czech woman was honoured for saving the life of Katarína Winterová, whom Pospíchalová hid and transferred to safety during World War II, when Winterová was six.
HN 5
Court rules against town ban on neo-Nazi march
The Regional Court in Ústí nad Labem yesterday voided the town’s ban on a neo-Nazi march planned there on 18 March. The town prohibited two of three marches scheduled by extremists, citing potential restrictions on traffic, prompting the organiser of one of the events to sue. The town plans to appeal the ruling to the Supreme Administrative Court.
ČTK
Chomutov social benefit distraint plan in legal limbo
The head of the Chomutov District Court last week recognised three proposals for stopping the town’s plan to seize social benefits to repay recipients’ debts. Another judge rejected the proposals two weeks ago, and it remains unclear how town officials can enforce the proposal.
ČTK
ČTÚ to reduce number of public phones
The Czech Telecommunication Office (ČTÚ) plans to lower the number of state-subsidised public phones operated by Telefónica O2 by more than a third over the next years. The agency says not enough people are using the phones.
ČTK
BUSINESS
Prague bourse reaches two-month high
The Prague Stock Exchange’s main PX index jumped 3.62% yesterday to 807 points, its highest level in more than two months, confirming analysts’ prediction that Tuesday’s no confidence vote would not affect share prices. Foreign investments and the state of world markets remain the key factors affecting local stocks.
most Czech press
Czech firms wary of Paroubek-led cabinet
Three-quarters of more than 2,000 companies surveyed by Chamber of Commerce view the fall of the cabinet as a negative development and fear uncertainty, destabilisation of the crown and a slowdown of crisis measures if Jiří Paroubek is appointed to lead the next government. Czech Chamber of Commerce President Petr Kužel said businesses are pessimistic about the prospects for a recovery.
HN 1, 3, MfD B4
TCPA revenues down, profit stable
Kolín-based car producer TCPA recorded a revenue drop of 4% to CZK 49 billion last year. The decline was caused mainly by the strength of the Czech currency. The firm’s pre-tax profit of CZK 1.4 billion was the same as in 2007.
most Czech press
Crown drops on no confidence vote
The crown fell to CZK 27.40 to the euro during trading yesterday but rallied slightly to CZK 27.30/EUR in the afternoon. Next Finance analyst Vladimír Pikora attributed the movement to Tuesday’s no confidence vote, which he said dragged other central European currencies down as well, but he said the relatively inconsequential weakening shows investors are not anticipating a disaster.
most Czech press
Beer production down 0.5%
Czech breweries produced 19.81 million hectolitres of beer last year, down 0.5% from 2007’s record output. Domestic consumption declined 1.3% to 16.1 million hectolitres, but exports grew 3.2% to an all time high of 3.71 million hl.
HN 14, 15, Právo 17
EU court backs Budvar in trademark battle
The European Union’s Court of First Instance yesterday confirmed previous rulings preventing Anheuser-Busch from using the “Budweiser” name in the EU. The US brewing giant applied for the trademark in the EU 10 years ago, prompting objections from Czech beer maker Budějovický Budvar. The European trademark office has twice ruled against A-B.
ČTK
Czech TV opens search for new director
The call for applications for leadership of Czech Television will appear in the media on Friday. The public station’s board said it will hold the first round in the selection process 13 May, choosing up to five finalists for the position. Most members of the board favour the current director, Jiří Janeček, LN reports.
LN 1, 4
Synot to merge Tip, Lottery
Synot holding group will merge two of its more than 50 subsidiary firms, Synot Tip and Synot Lotto, beginning 1 April, Managing Director Kateřina Luisa Daňhelová said. The two firms jointly take in some CZK 5 billion a year.
HN 16
Appian ready to unload bookmaker Chance
The Appian Group is reportedly unhappy with sports betting firm Chance’s economic results and is looking to sell the company, which it acquired two years ago. Appian spokesman Miroslav Novák said Chance is not part of the financial group’s core business and that it is ready to evaluate bids for the bookmaker.
HN 13
Hengis to buy Karlovarský porcelán
The Karlovarský porcelán creditors committee yesterday decided to sell the bankrupt porcelain producer’s four plants to real estate company Hengis for an undisclosed price. Hengis, which now awaits court approval of the deal, does not plan on closing any of the facilities.
E15 10, Právo 4
Jablonex looking to sell coin subsidiary
Glass and bijoux producer Jablonex Group might offer its coin producing subsidiary České mincovny up for sale separately from its other companies. Hospodářské noviny reports that Jablonex has had trouble finding a buyer for the whole company and instead will sell healthy subsidiaries piecemeal. Unlike glass and bijoux, coins and medals are seeing rising demand due to increasing gold prices. České mincovny expects 2009 sales to reach CZK 500 million, up from last year’s CZK 450 million.
HN 14
NWR shareholders stop Ferrexpo transfer
Responding to protests by minority shareholders, the board of mining company NWR halted the transfer of shares of Ukrainian iron ore pellet producer Ferrexpo to NWR from its parent company, RPG Industries. RPG, a group of private investors led by Zdeněk Bakala, bought a one-fourth stake in Ferrexpo in October 2008; the shares have since lost a third of their value.
HN 13
ÚOHS fines association of funeral agencies
The antimonopoly office (ÚOHS) confirmed a CZK 500,000 fine levied on the association of funeral agencies for manipulating the prices of services. The association, which represents some 140 funeral agencies and crematoria, was also ordered to remove from its code regulations discouraging competition among members.
HN 15
