In Business News this week: Martin Jahn has been appointed general director of the Volkswagen Group in Russia; the American company which bought Čedok is also interested in buying Czech Airlines; Prague stock exchange has lost record 17.4 percent in January; the number of Romanian and Bulgarian workers is increasing and the Czech Republic raises its production of solar panels.
Martin Jahn to head VW in Russia
US group which bought Čedok also interested in Czech Airlines
Prague stock exchange loses record 17.4 percent in January
The Prague Stock Exchange saw the biggest fall of share-prices for January in its 15-year history. The index has decreased by 17.4 percent since the end of December and the PX index dropped to 1,499 points. Developers ECM were the biggest losers, with their shares falling by 34.5 percent. The shares of Erste Bank and Česká Spořitelna have also slumped by more than 30 percent. Analysts assigned the slump to developments on stock markets around the world and panic selling by foreign and domestic investors.
Number of Romanian and Bulgarian workers on the rise
Czech Republic increases production of solar panels
The Czech Republic is becoming one of the largest producers of solar panels in Europe, although the country itself doesn’t use solar energy too much. There are currently about 20 solar panel producers in the Czech Republic but their overall output has not yet been specified. Foreign producers have a significant share in the business. One of the largest is Japanese Kaneka Corporation, which opened a production plant in Olomouc last year and Germany’s Schott Solar with a plant in Valašské Meziříčí. Most of the solar panels produced here are exported to southern countries with a better climate, such as Italy, Spain and Greece.