The favourite destination for Chinese shoppers in Europe is usually Paris, but the private investment group CEFC has been on a veritable spending spree in Prague and the Czech Republic. In the basket have gone stakes in a major brewery, travel company, Czech investment group, famous football club, and a few choice pieces of real estate in Prague.
Czech energy group ČEZ has an interesting publicity stunt in which it gives a statistic for the week. It’s usually some self-promotional stuff about the number of electricity pylons it has, donations to charity, or power plant output. This week’s statistic that sticks in the mind though came from outside: the 100,000 crowns a month that has been paid to a top ANO politician for not very specific advisory services.
Tourists in Prague in the summer generally aren’t afraid to splurge during their holiday but a study by Prague City Tourism suggests that visitors this summer were a little thriftier than the last winter season. Aside from transportation and accommodation, tourists spent the most at restaurants, but a touch less than in the past.
Czech privately held company Energetický a Průmyslový Holding (EPH) has become the favourite to become the biggest player in Slovakia’s electricity market after Italian energy giant ENEL said it had been selected for exclusive talks over the purchase of its majority stake in Slovenské Elektrárne. The talks could result within weeks in a deal to buy up the shares.
The planned giant investment of Taiwanese mobile, tablet and camera manufacturer HTC in Brno promising to create up to a thousand new jobs is falling apart within months of it being announced. Dozens of the company’s employees have received notices to quit before the planned European service centre was even launched, Czech Television reported on Monday.