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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Economy
Brian Kenety|13.01.2011

World Bank: Global economy to record ‘solid growth’ in 2011–2012

Following a 6.6 percent GDP drop during 2009, output in the Europe and Central Asia region should expand by 4.7 percent in 2010, the World Bank’s Global Economic Prospects 2011 report says. But the recovery, largely due to strong rebounds in Russia and Turkey, is “particularly sensitive” to the situation in the eurozone (i.e., sovereign debt crises), which threatens growth in the Czech and EU-10 economies.

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