Politics & Policy|Companies
Kateřina Menzelová|15.05.2012

Lost decade: How the Czech state wastes transport infrastructure resources

Over the past 10 years, the Supreme Audit Office (NKÚ) carried out 11 audits focusing on the construction or upgrading of terrestrial communications, i.e. motorways and first class roads, rail corridors and the Elbe waterway, where, all in all, dozens of billions of crowns flow in annually. The auditors focused on prices and everything that influenced them. The result? It’s not just the costs that are flexible but also the end dates.

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Companies|Energy & Green Biz
Chris Johnstone|14.05.2012

Smelly beetle seen as savior from Czech miner’s ambitions

The large, smelly sedentary insect, appropriately named the hermit beetle, could prove to be the undoing of a mining group’s ambitions to seek more coal in the far east of Moravia near the town of Karviná says an environmental group.

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Politics & Policy|Companies|Society
Martin Shabu|14.05.2012

Firms tied to North Bohemia ‘godfather’ in crosshairs after EU funds audit

The allocation of EU grants in Northern Bohemia was not carried out in line with requirements, according to an audit by the consultancy Deloitte ordered by the Czech FinMin and EU executive. Problems were found in 34 of the 35 projects examined — and calculations of the evaluation criteria were riddled with systemic mathematical errors. What’s more, sources say the winning firms are secretly owned by regional ‘godfather’ Patrick Oulický.

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Companies|Society
István Léko|11.05.2012

Stadium share at rival beckons for unsuccessful Sparta Prague?

Sparta Prague football club will just be a spectator as the Czech league championship is played out this weekend. But the recent poor form and mounting financial losses must be getting to the owners with radical solutions rumored to be on the bench and ready to be brought into play.

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Companies|Foreign Affairs
Kateřina Menzelová|11.05.2012

China shops in CEE but gives Czech Republic a wide berth

The Chinese plan to invest $10 billion in Central and Eastern Europe over the coming years in the region’s infrastructure, technology and ecology sectors. While the buying spree has already begun, the Czech Republic doesn’t figure in any plans Chinese investors have made public thus far. But ZTE and Huawei both operate on the Czech, and the planned auction of mobile services frequencies could attract China Mobile, the world’s largest mobile operator.

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HOT TOP|Companies|Energy & Green Biz
Chris Johnstone|09.05.2012

French bidder for Temelín upbeat on prospects

The regional director of French nuclear power plant constructor Areva says doubts about the Temelín nuclear expansion tender resulting in a winner and a substantial part of the work going to local companies are misplaced. 

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Companies|Energy & Green Biz|Foreign Affairs
Tom Jones|09.05.2012

Power giant ČEZ faces major losses in Albania

Prague-listed power major ČEZ is set to lose up to Kč 10 billion over the next three years from its investment into the Albanian power distribution company as a result of a 91 percent hike in tariffs imposed by the government in Tirana, non-payment of bills, and loses from the network, the Czech daily Lidové noviny (LN) reported Wednesday.

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Companies
Tom Jones|02.05.2012

Insurance sell-off could net Kellner’s PPF Kč 70 billion

The PPF Group, founded and owned by Czech billionaire Petr Kellner, plans to sell its 49 percent stake in Generali PPF Holding, an insurance joint venture PPF established with Generali, which owns the majority stake. Kellner is also in talks to sell his stake in the Russian insurer Ingosstrakh to VTB bank for Kč 10 billion, the server regiony24.cz reported Wednesday. Generali PPF Holding is currently valued at a little over €23 billion.

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HOT TOP|Companies
Brian Kenety|30.04.2012

Poles mull Net4Gas buy in tandem with Czech-Polish gas pipeline expansion

Gaz-System, the gas transit system operator in Poland, reportedly could make a bid for its counterpart in the Czech Republic, Net4Gas, which together already plan to build a new pipeline between the countries in a bid to further weaken Russian control over the key energy source.

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Companies|Energy & Green Biz
Chris Johnstone|26.04.2012

Czech energy watchdog clamps down on sharp sales practices

The Czech energy regulator says it has faced a flood of complaints about unethical practices from energy companies in the first quarter of the year. It has called on company managers to explain, including some of the biggest power companies in the country, and is threatening to get tough if the abuse goes on.

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