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Media & PR|Society
Brian Kenety|17.07.2012

Czech Position suspends publication

Advertising revenue proved insufficient to sustain the English section, but parent news server Česká pozice is still going strong

Czech Position launched in December 2010 with the lofty goal of becoming the world’s daily English-language source for Czech political, business and cultural news, by offering a mix of breaking news reports, feature articles, analysis and investigative reporting. Alas, all good things must come to an end.

Politics & Policy|Companies
Martin Shabu|16.07.2012

Czechs bought three CASA aircraft for price of four, 2005 document shows

Czech Position has obtained a detailed price offer from November 2005 addressed to the Ministry of Defense’s armament section that supports allegations that the Czech Army got a raw deal on the purchase of four CASA C-295 transport planes. The document is part of the file upon which the police are charging ex-defense minister Vlasta Parkanová for allegedly violating her fiduciary duties in signing off on a 2009 deal.

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Politics & Policy|Real Estate
Kateřina Menzelová|13.07.2012

Speculators await massive Prague city property sell-off

Prague councilors have approved the sale of nearly 3,855 city-owned dwellings — just a few hundred shy of the entire number of apartments sold last year in the Czech capital — for which the city hopes to fetch at least Kč 4 billion. There is talk, however, that speculators will manage to circumvent controls seeking to grant favorable terms only to current tenants.

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Politics & Policy|Energy & Green Biz
István Léko|11.07.2012

Why Czech strategic fuel reserve body ‘special accounts’ remain secret

The Supreme Audit Office (NKÚ) has said that to comply with the government’s request to check the books of the Administration of State Material Reserves (SSHR) would be futile, even if it had the full capacity to do so. PM Petr Nečas’ cabinet wants state auditors to investigate the controversial extra-budgetary “special accounts” — but the NKÚ has already made clear the SSHR buys high and sells low with impunity, and MPs have de facto legitimized the practice. 

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Markets & Finance|Companies|Energy & Green Biz
Brian Kenety|27.06.2012

ČEZ sell-off of coal-fired plant(s) ‘satisfies’ EC, may draw new bidders

News that Prague-listed utility ČEZ will sell one or two coal-burning power plants with a capacity of 800–1,000 MW in a bid to end a European Commission probe into suspected anti-competitive behavior (and in line with plans to divest from carbon-emitting power generation capacity) has been welcomed by the markets. State-controlled ČEZ — which denies any wrongdoing — had faced a fine of up to 10 percent of its 2008 global turnover of $5.2 billion.

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HOT TOP|Politics & Policy|Companies
István Léko|26.06.2012

Prague 10 politicians resign over Key Investments probe

The Czech police’s anti-corruption and financial crimes unit ÚOKFK has been investigating criminal complaints relating to the opaque brokerage Key Investments — into which nearly Kč 1 billion of public funds has apparently been lost or embezzled — for more than a year and a half. Finally, some politicians who had a hand in putting taxpayers’ money with the brokerage have been held to account.

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Companies|Energy & Green Biz
Brian Kenety|21.06.2012

Czech Coal boss breaks media silence, says ČEZ will sell him power plants

Czech billionaire Pavel Tykač, the owner of leading lignite miner Czech Coal, said in an interview for the daily Mladá fronta Dnes published Thursday — his first in 15 years — that no other party, including rival Energetický a Průmyslový Holding (EPH), will outbid him for state-c0ntrolled utility ČEZ’s coal-fired Počerady and Chvaletice plants.

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Politics & Policy|Companies
Kateřina Menzelová|20.06.2012

CASA corruption case legal cause célèbre, but unlike Pandur tender

Parliament’s immunity and mandate committee took no decision at their session Wednesday on the question of allowing MP Vlasta Parkanová (TOP 09), the former defense minister, to be prosecuted on abuse of office and other charges for her role in the 2009 purchase of CASA transport aircraft. But whether she can even be held liable for the ‘deliberately overpriced’ CASA contract is a matter of contention.

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