News
 
Business News

 

Business News

 
photo:  (Kristýna Maková)
 

In this week’s Business News: car production remains in fast lane; Leo Express looks to new investors, airport owner gets positive credit evaluation; new chief for troubled business lobby; no presents for small shareholders on billionaire’s birthday.

 
 
High car output continues in April

Czech car production and sales are continuing to surge ahead this year. Output from the country’s three main plants is just over 13 percent higher in the first four months of the year at just under 431,000 units. Exports are up over the same period by over 6.0 percent and much smaller domestic sales are around 27 percent higher. Bus production is also up but truck output has slipped so far this year.

Leo Express sees profit but wants new investors on board

The head of one of the few private Czech rail passenger companies, Leo Express, has admitted he has lined up a strategic investor to take a stake in the loss-making business. Leoš Novotný says the investor will buy 16 percent of the company ahead of an Initial Public Offering which will offer a further 30 percent block of shares. Novotný says he expects a positive result for the company this year in spite of what he says are considerable subsidies for the main state-controlled passenger rail company.

State aviation group gets positive credit note

The Czech Republic’s biggest aviation group, Český Aeroholding, has been given a boost from its first credit rating from the international Moody’s agency. Moody’s gave the group, whose core asset is Prague’s airport, an A3 rating, saying this reflected its stable earnings and ability to increase charges without major problems. The state-controlled group also owns around a third of Czech Airlines with uncertainty over the evolution of this stake the main reason for Moodys also attaching a negative outlook.

Business lobby hot seat to be occupied by former minister, presidential candidate

Former minister of industry and trade and unsuccessful presidential candidate, Vladimír Dlouhý has got himself selected as one of the Czech Republic’s top business representatives. Dlouhý has been selected as head of the 14,000-strong Czech Chamber of Commerce for a three year term. The previous incumbent in the post was tainted by charges that he received almost 500,000 crowns from the Ministry of Foreign Affairs for seminars which never took place. He has pleaded not guilty in an ongoing court case. Dlouhý has voiced the ambition of widening the administrative and advisory roles the chamber could perform to rake in extra cash.

Telefónica get miserly buy out offering from new Czech owner

Czech and Central Europe’s richest man Petr Kellner turned 50 this week. But if there was any celebratory good will and gifts being distributed they have not been directed towards minority shareholders in Czech telecom giant Telefónica. Kellner’s main company, PPF, has offered to buy out the small shareholders for a price below that which it bought out two-thirds of Telefónica from its Spanish owner last year. The offer to minority shareholders has followed protracted talks with the Czech National Bank about its final shape.

 
Author: Český rozhlas Radio Praha
 
Added: 23.05.2014
 
 
 

Related articles

 
Business News
 
 

Business News (14)

In this week’s Business News: minister seeks duty cut on beer; Iraq seen widening military shopping list...

 
 
Business News
 
 

Business News (13)

In Business News this week: Czech industry growth among highest in EU; public debt rises slightly in Q1...

 
 
Business News
 
 

PM Sobotka and President Zeman meet...

On Thursday, Czech Prime Minister Bohuslav Sobotka and President Miloš Zeman attended a major one-day...

 
 
Business News
 
 

Business News (12)

In this week’s Business News: car production remains in fast lane; Leo Express looks to new investors...

 
Most favourite

History of Czech fine art

What happened in the realm of fine art at the very beginning of the Czech…

Climate

The Czech Republic is a landlocked country located in moderate geographical…

The most significant current discoveries

During the last decade, Czech science has made many revolutionary discoveries…

Czech language

The Czech language belongs to the group of West Slavic languages. From another…

Traditional Czech products

Czech industrial production has a long tradition, and many products are known…

Traditional Czech products

Czech industrial production has a long tradition, and many products are known…

 
 

Facebook recent activity