News

Czech Republic settles dispute with Nomura

The Czech Republic has settled a six-year dispute with Japanese investment group Nomura. In 2000, amid rumours of pending collapse, the IPB bank in which Nomura held a 50 percent stake, was placed under forced administration and sold for a symbolic one crown to another bank, CSOB. Nomura says the Czech state had failed to protect its investment and won a London arbitration decision earlier this year. In a two-page agreement both sides have pledged to file no more complaints, make no more financial demands, and withdraw from any ongoing court proceedings.

Social Democrats "disappointed" by Civic democrat's proposed policy programme

The Social Democrats have expressed disappointment at the content of a government policy programme proposed to them by the Civic Democrats. The party says the manifesto is the exact copy of that of the Civic Democrat's planned three-party coalition with the Christian Democrats and the Greens that was rejected in the autumn. The Civic Democrats say the policy programme is only to serve as a basis for discussion.

Civic Democrats for special lower house meeting on new Labour Code

The Civic Democrats intend to call a special lower house meeting to hold discussion on the date when a new Labour Code is to come into effect. Cabinet has proposed to introduce the Labour Code on January 1. 2008 instead of 2007. But Social Democrat and Communist deputies, who together hold 100 of the 200 seats in the lower house of Parliament, have blocked plans to vote on the proposal in Thursday's regular session.

Pavel Bem re-elected Lord Mayor of Prague

Civic Democrat deputy chairman Pavel Bem has been re-elected Lord Mayor of Prague. With the vote of 49 of 69 town representatives, Mr Bem will serve another six year term.

Police detain eleven suspected people smugglers

Police have detained eleven foreign nationals suspected of people smuggling. The detainees, who include three women, are from five states and have been long term residents of the Czech Republic. Police suspect they issued citizens of Dagestan, Kazakhstan, and Syria official invitations to get them into the Czech Republic and from there smuggle them into Germany and France in trucks. They face up to ten years in prison if found guilty.

Czech crown reaches new record high to US dollar

The Czech crown reached a new record high to the US dollar with an exchange rate of 21.18 crowns to the dollar on Thursday.

Weather

The next few days should continue to have cloudy skies. Daytime temperatures will range from 5 to 8 degrees Celsius.