The Czech government has repeatedly declared the upmost importance and policy priority of supporting Czech exports to countries outside the EU. It is apparently concerned about the quality of services provided by the state to Czech exporters attempting to penetrate into new world markets. The reality is, however, somewhat different: it appears the prime concern is securing lucrative jobs in the state sphere and control of billions of crowns.
Czech Minister of Industry and Trade Martin Kuba (ODS) proudly unveiled his proposal for economic diplomacy to play a key role in boosting exports and diversifying sales abroad to reduce dependence on a struggling Europe. But he failed to get the foreign ministry on board beforehand — and it has a long list of complaints about allegedly major flaws in Kuba’s proposal.
The state-owned Czech Export Bank (ČEB) has agreed to loan the Ukrainian state-owned nuclear power plant operator Energoatom $43.7 million (approximately Kč 780 million), the Russian energy news server pronedra.ru reported Tuesday. The money will reportedly be used to acquire nuclear fuel storage facilities for the fifth reactor block of the six-reactor Zaporizhzhia nuclear power plant on the Dnieper River in the south of the country.
Moody’s Investors Service on Monday affirmed the A1 issuer and long-term local and foreign-currency unsecured debt rating of Czech Export Bank’s (ČEB) with a stable outlook. The rating agency also affirmed ČEB’s Prime-1 short term issuer rating.
The Vienna International Arbitral Centre has rejected a claim brought by the US insurance giant AIG against the Czech Export Bank (ČEB) for around $24 million and ordered the US firm to pay all legal costs. The case involving the delivery of trolleybuses from Škoda Ostrov to San Francisco in the 1990s ran for over a year.
The state-owned Czech Export Bank (ČEB) will have a new general director as of Feb.1, a senior source from the Ministry of Finance has told Czech Position. “Tomáš Uvíra, the former Ministry of Finance [managing director for asset management], will be nominated by our department as head of the Czech Export Bank,” the source said.
Czech Export Bank (ČEB) chief Lubomír Pokorný resigned in early September under a cloud of suspicion. According to Czech Position’s information, Prime Minister Petr Nečas and Finance Minister Miroslav Kalousek have agreed on who should take his place at the helm of the ČEB, but their deal may fall through in the wake of a corruption scandal, and the acting ČEB chief Michal Bakajsa could remain in office for months to come.