Siemens VDO, the electronic auto parts maker of engineering giant Siemens, wants to relocate part of its manufacturing activities in Wuerzburg, Southwest Germany, to the Czech Republic in mid-2006 in order to help cut costs, a company spokesman said on Friday. Siemens VDO's factory in the north Moravian city of Ostrava will specialise in the manufacture of technically less complex components, while the company would endeavour to retain as many jobs as possible in Wuerzburg, where the workforce numbers 1,600, the spokesman said. The powerful IG Metall labour union and employee representatives have long expressed concern that most of the Wuerzburg jobs could be relocated to the Czech Republic.
Exports from the Czech Republic grew at a rate above analysts' expectations in 2004. In fact, a new study carried out for the OECD shows the growth in Czech exports was the third fastest in the world last year, behind only China and South Korea. Other new European Union states also showed strong export growth rates, but none matched the success of the Czech Republic in this area. I spoke to Petr Sklenar, an analyst with Atlantik Financial Markets, and began by asking him what was behind this positive trend.
One of the biggest privatisation deals since the fall of communism has been signed and sealed. The Spanish Telefonica now owns a 51 percent stake in Cesky Telecom - the Czech fixed line operator which also owns the Czech Republic's leading mobile operator Eurotel. In an open tender, where the deciding criterion was the price, Telefonica beat Swisscom and Belgacom, with an offer of over 3.5 billion dollars. One analyst described the deal, at a good 25 percent higher than expected, as nothing less than a "bomb". David Vaughan was at the signing ceremony
Prague will be host to a most unusual trade fair this week. "Esoterika 2005", which opens April 1 at the Holesovice fair grounds, will feature masters of Feng shui, courses on the "Blue Alpha" method of meditation, lectures on "landscape energy", the history of herbal healing, and a wide range of other lesser-known disciplines, from harnessing reincarnation imagery to colour therapy.
Vodafone confirms interest in Oskar Mobil; PPF drops out of Cesky Telecom bid; FDI nearly double in 2004, including reinvested profits; One in four Czechs admits to having paid a bribe; Skoda Auto to double investment in India; 100 Czech electronic goods stores per year closing; Czech crown sets all-time high of 21.93 against the US dollar; Record number of Czechs expected to take foreign holidays in 2005
France Telecom joins Blackstone/CVC/Providence consortium bidding for Cesky Telecom; Number of foreigners seeking work in the Czech Republic up 250 pct since 1995; Czech Airlines' profits up threefold year-on-year in 2004; Dentists may demand up-front cash payments 50-300 percent above current imbursement rate; Adidas behind COI sweep of Kaufland stores
An invention of the twenty-first century: the three minute date. No time to feel nervous and more than enough time if you don't fancy each other! A wild boar stops the Eurocity train. And, a secret adrenalin skiing race takes place in the Krkonose Mountains every spring. Find out more in Magazine with Daniela Lazarova.
The Czech branch of Greenpeace has just launched a controversial TV spot in which the Czech Republic is shown as a wasteland with contaminated rivers, soil and air, dead fish and heaps of rubbish. The country's national anthem, which speaks of lush meadows and bubbling streams, serves as a backdrop to this scene of devastation. The opening lyrics of the anthem - Where is my home - bring home the message that if Czechs don't wake up soon they may not have a home.
There was good news for the Czech economy on Friday, when figures were released showing that 2004 saw the lowest foreign trade deficit since 1993. Both imports and exports increased last year after the Czech Republic joined the European Union, with exports rising particularly sharply. The industry and trade minister, Milan Urban, said in terms of euros per capita, the Czech Republic's foreign trade results exceeded those of countries like Spain and Greece, and were on the same level as the United Kingdom.
Czech IT specialists organize “hackathon” to give government online motorway vignette sales system for free
Minister: Czech Republic won’t take in 40 child refugees from Greek camps
CzechTourism head hints attracting tourists no longer agency’s main goal
EU, Russia row over WWII, with Poles and Czechs on front lines
Three Czechs trapped in Wuhan due to coronavirus