The Czech energy giant CEZ says it has mended all failures caused by the gale which hit the country at the end of last week. Around a million customers experienced cuts in power supplies due to the gale. CEZ says high winds are still causing damage to electric wires, most recently in the Krkonose mountains and in Central Bohemia.
On Thursday the strong wind caused blackouts across the country. Czech
Airlines cancelled around 20 flights, mainly to European destinations.
Similarly, other companies that have been tallying up damages from the
gale force wind on Thursday include both the county's energy giant CEZ
and power supplier E.ON. CEZ declared a state of emergency after
twenty-seven reception points - serving more than a million customers -
were left without power.
Other firms badly hit include the Czech forestry authority, which called the effects of Thursday's gale force wind "the worst natural disaster" to ever hit Czech forests. The seriousness of the situation is being assessed by the Agriculture Ministry.
In business news this week, high-ranking government officials face jail for accepting illegal perks from energy giant CEZ. The Czech Republic's budget deficit for 2006 is far higher than expected. The governor of the Czech central bank criticises the euro adoption criteria, and an increasing number of foreigners are being recruited to work in the Czech Republic.
Years from now, 2006 may be remembered as the year the world started to get really scared about global warming. Al Gore's film "An Inconvenient Truth", was a hit, and here in the Czech Republic, record breaking temperatures in summer and autumn got people murmuring that climate change is already here.
The Austrian parliament has taken major step towards a confrontation with the Czech government over the controversial nuclear plant at Temelin. Yesterday Austria's legislature approved a strongly-worded motion demanding the Czechs prove that they have taken steps to make Temelin safer, or face a lawsuit.
Others figures released by the office reveal that unemployment in the month of November dropped by a tenth of a percentage point to 7.3 percent - the lowest unemployment figure in the last five years. Currently, 400,044 people are listed as out of work. Analysts contribute the drop in numbers partly to, for example, recent graduates finding first-time employment.
The Czech Republic's public budget deficit will be equal to 4.1 percent of GDP next year, the European Commission says in a report assessing the progress of individual countries on their path to the euro single currency. To be able to join the euro, the country's public budget deficit must be reduced to below 3 percent of GDP.
In Business News: the European Commission warns that the aging population will have a considerable impact on Czech GDP growth; the anti-monopoly office hands down the highest ever fine to a state body, after the Labour Ministry awards a contract without a tender; Czech mortgage and home-building savings loans increase ten times in seven years; sales of second-hand cars rise by over 20 percent; and the diplomats may be at loggerheads but trade between the Czech Republic and Cuba rises considerably.