In Business News this week: the Chamber of Deputies passes an extensive public finance reform bill; Czech banks say the reforms will mean more expensive mortgages; the governor of the Czech National Bank says the international mortgage crisis has not affected the Czech economy; the successful Czech anti-virus producer Grisoft buys out its UK and Ireland distributor; and a huge increase is seen in the consumption of soft drinks in the Czech Republic.
Chamber passes extensive reform bill
Banks say reform spells higher mortgage rates
One effect of the reform will be more expensive mortgages for Czech home-buyers; the banks say they will need to raise mortgage rates by 0.5 to 0.8 percent to compensate for the elimination of tax relief for income earned from mortgage bonds, with which they finance loans.
Czech economy not affected by international mortgage crisis, says CNB head
Successful Czech anti-virus maker buys out UK and Ireland distributor Grisoft, the Czech producer of the AVG anti-virus computer programme, is taking over its partner and authorised distributor AVG UK & Ireland, Hospodarske noviny said on Friday. AVG is one of the Czech Republic's most successful brands internationally - it is among the 20 most downloaded anti-virus programmes in the world.
Czechs have highest ratio of computer specialists among new EU states
Soft drink consumption up 80 percent in decade
Travel agencies facing fine for not making full prices clear
Czech Republic increasing popular with Russian tourists
The Czech Republic is becoming increasingly popular as a destination for Russian tourists, with more than 80,000 visiting the country in the second quarter of this year - 40% more than during the same period in 2006. Russia is the sixth biggest source of tourists for the Czech Republic.