Business News


In this Friday’s Business News: Average wages go up; US company fails to register spinning trademark; Čepro stores Germany’s oil reserves; bread, fish consumption down; counterfeit knives seized.

Average wage rises by 1.8 percent

Photo: Filip JandourekPhoto: Filip Jandourek The average wage in the Czech Republic climbed by 1.8 percent year-on-year in the third quarter to 25.219 crowns (around 914 euros), according to figures released by the Czech Statistics Office this week. Real wages have actually risen by 1.2 percent compared to last year. According to analysts, Czech consumers’ purchasing power in Euros has declined by nearly five percent. They expect the situation to improve, however, with the rate of unemployment gradually decreasing.

US company rejected to use “spinning” trademark in the Czech Republic

Photo: Antony McCallum /, CC BY-SA 3.0Photo: Antony McCallum /, CC BY-SA 3.0 The Czech Industrial Property Office has rejected an application by US company Mad Dogg Athletics for the spinning brand name in the Czech Republic. Mad Dogg Athletics founder Johnathan Goldberg created the indoor cycling programme in 1993 and currently has over 200,000 trainers all over the world. The US firm has been trying for the past twelve years to register the brand name in order to prevent other indoor cycling companies in the Czech Republic from using the trademark unless they paid for it.

Čepro starts storing Germany’s oil reserves

Illustrative photo: Barbora KmentováIllustrative photo: Barbora Kmentová State fuel oil distributor and petrol station operator Čepro has started to store part of Germany’s strategic oil reserves. According to the daily Lidové noviny, the state-owned company last week signed a contract with Mabanaft, Germany’s leading oil company, to store tens of millions of litres of fuel oil, the first time since the end of WWII that Germany has its fuel oil stored on the Czech territory. The head of Čepro Jan Duspěva told the daily that the contract was favourable to both sides, adding that Čepro could profit up to 50 million crowns a year from the deal.

Bread, meat consumption down

Photo: Štěpánka BudkováPhoto: Štěpánka Budková Czechs are consuming less bread and meat and drinking less alcohol, according to figures released by the Czech Statistics Office. In 2013, the consumption of bread and rolls dropped by two kilograms year-on-year to an average of roughly 39 kilos per person annually, while meat dropped by 3.4 percent to an average of just under 75 kilos annually. Instead, Czechs consumed more fruit and vegetables and rice and pasta. Fish consumption, already traditionally low, however, dropped by 7.5 percent year-on-year to an average of just 5.3 kilos per person.

Customs scale up operations

Photo: CTKPhoto: CTK Customs officers seized 300 fake ‘Rybička’ brand pocket knives which made their way onto the Czech market last week. Fakes were found in three shops in all 14 regions of the country with the exception of Plzeň and Karlovy Vary. The original knife, in the shape of a small fish, complete with ‘scales’ is a registered trademark design of knife manufacturer Mikov, based in the Děčín area. It is the first time that the company has had problems with counterfeiters; the firm is considering legal action. The fake Rybičky, which lacked the Mikov name on the handle, were selling for 79 crowns each. The orginals sell for 75.