The district administrations of Prague 6, 10 and 13 still have a total of more than Kč 650 million tied up in the investment firm Key Investments which they are attempting to get back. However, instead of coordinating their efforts to redeem their money, the leadership of each administration has chosen a different tactic. It remains to be seen which, if any, will be more successful.
The criminal complaint lodged last Friday (March 25) by Libor Jirků (TOP 09), a representative in the assembly of Prague 13, relating to the Key Investments brokerage has been passed by the public prosecution service to the police for investigation. Jirků is demanding the return of over Kč200 million of Prague 13’s money tied up in an investment portfolio managed by Key Investments.
The Transport Ministry’s aim to focus on support for intermodal (combined) transport — the clear aim of which is to in turn get support from the European Union — is beginning to take shape. ČD Cargo, a subsidiary of state railways operator Český dráhy (ČD), has begun to hunt in earnest for business partners involved in road transport: Leading Czech transport firm CS Cargo is interested.
Libor Jirků (TOP 09), a representative in the assembly of Prague 13, has lodged a criminal complaint relating to the Key Investments case. Prague 13 has more than Kč 200 million tied up in an investment portfolio managed by the brokerage and Jirků says there is a danger the city district will lose the money. As previously reported by Czech Position, David Vodrážka (Civic Democrats, ODS) has already requested Key Investments to return all the of the administration’s funds tied-up in portfolios managed by the brokerage.
Špilberk Castle is of great symbolic importance to the Italian nation, as several dozen Carbonari and other revolutionaries were imprisoned there during the struggle for independence from the Habsburg Monarchy. The Moravian region also has a personal significance for Italian president Giorgio Napolitano, who will pay an official visit to the Czech Republic next month to mark the 150th anniversary of the unification of Italy.
After several weeks of embarrassing pseudo-obstacles, the Municipal Court in Prague has finally registered Karel Janeček’s (37) Anti-Corruption Endowment Fund. The doubts of the senior judicial official, Romana Janečková (no relation), about the general benefit of the fund’s activities and the academic qualifications of the organs’ members were convincingly refuted.
Why hasn’t Prime Minister Petr Nečas (Civic Democrats – ODS) spoken to Minister for Regional Development Kamil Jankovský? For had he considered or at least noted what the media are reporting, the government wouldn’t have spent so much time and energy defending the proposal to hike the value-added tax in order to fund the planned overhaul of the country’s pension system.
Czech entrepreneur Petr Kellner, the 46 year-old founder and majority shareholder of Dutch-registered PPF Group with 94.25 percent of shares, once again made it into the top 100 of the Forbes magazine’s rich list. The personal wealth of the richest Czech has reportedly grown by Kč 27.8 billion in a year, thanks to investments in China and Russia.
Representatives of the Prague 6 administration gave positive references about the Key Investments brokerage in which the administrations of Prague 6, 10 and 13 have around Kč 650 million of public funds tied up in portfolios with largely non-liquid assets. Now they deny anything of the sort happened.
Key Investments — an opaque brokerage now under investigation by the anti-corruption police and Czech National Bank (ČNB) regulators — has returned to state-owned forestry company Lesy ČR the Kč 69 million remaining in its portfolio, Lesy ČR Svatopluk Sýkora told Czech Position.
Founder and editor-in-chief of ČESKÁ POZICE. He studied mathematics and modern philology at Charles University in Prague. He has been working as a journalist since 1989. His experience includes reporting for the weekly Respekt, the daily Lidové noviny and the magazine Týden. He ran the economic-political weekly Euro for 12 years starting in 1998. As a journalist, he focuses on politics and business.