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07/13/2018
Drinks maker Kofola Ceskoslovensko has announced plans to cut its registered capital 2.23 billion crowns by roughly 50 per cent, subject to approval at a general shareholders meeting on August 13.
The aim is to optimise Kofola’s equity structure and ensure regular dividends for investors even in the event of potential revaluation adjustments of its Polish subsidiary HOOP Polska in the company’s accounts.
Kofola is controlled by the Greek-Czech Samaras family, who resurrected the cola brand Kofola in the 1990s. The drinks maker has since expanded throughout Central Europe but has struggled to gain a stronghold in Poland.
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07/13/2018
NATO regards a Czech commitment to increase defence spending to 2 percent of GDP by the year 2024 as credible, according to the Czech ambassador to the alliance, Jiří Šedivý. In an interview with Czech Television after US President Donald Trump called on Europe to boost its outlay on its defence, Mr. Šedivý said the Czech Republic was neither among the best or the worst as regards weapons purchases.
This was borne out by the fact that it was not among those countries to receive a letter from Mr. Trump calling on them to contribute more to collective defence, the Czech official said.
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07/13/2018
Social Democrat MP Milan Chovanec says he is ready to give up his seat in the lower house if the party’s deputies group expels him over his failure to back the government. The former interior minister did not show up on Wednesday for a vote of confidence in a coalition government comprising his party and ANO. He said he could not raise his hand for the alliance for reasons of conscience.
In an interview with Friday’s edition of the newspaper Právo, Mr. Chovanec said he had not wished to go against the Social Democrats’ party base but could not take any more.
He said more store should have been set in the party’s pre-election pledges not to enter government with ANO leader Andrej Babiš. Mr. Babiš is facing criminal charges over alleged fraud.
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07/12/2018
The Czech Republic will not change its plans regarding defence spending following a NATO summit in Brussels, Prime Minister Andrej Babiš said on Thursday. The Prague government will therefore continue increasing defence spending with a view to reaching the equivalent of 2 percent of gross domestic product by the year 2024.
U.S. President Donald Trump had pushed for accelerated spending on weapons at the two-day summit. Mr. Babiš said he had told Mr. Trump that it was important to speak about absolute expenditures on armaments.
The acting Czech minister of foreign affairs, Jan Hamáček, who was also at the summit, said attention should be paid to Mr. Trump’s arguments regarding the amount the U.S. was spending on Europe’s defence.
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07/12/2018
ANO would have won elections last month with 31 percent of the vote, suggests an opinion poll conducted by the CVVM agency. The government-leading party garnered just under 30 percent in elections last October.
The survey indicates the Civic Democrats would have come second last month on 14 percent of the vote, ahead of the Social Democrats on 11 percent. The Christian Democrats gained compared to previous CVVM polls, while the Pirates, the Social Democrats and Freedom and Direct Democracy slipped.
Neither TOP 09 nor the Mayors and Independents would have reached the 5 percent threshold needed to return to Parliament, the survey indicates.
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07/12/2018
The European Commission has revised downward its forecast for the growth of the Czech economy this year and in 2018. According to its latest prognosis, Czech gross domestic product should expand by 3.0 percent this year and 2.9 percent next year. An earlier forecast had suggested growth of 3.4 percent in 2018 and 3.1 percent in 2019.
The European Commission also issued less positive growth predictions for the Eurozone and the European Union as a whole on Thursday.
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07/12/2018
The head of the Czech Roman Catholic Church, Cardinal Dominik Duka, has filed a lawsuit over a pair of theatre plays staged in Brno in May, the newspaper Lidové noviny reported on Thursday. The joint production of the plays Our Violence, Your Violence and The Curse included a scene in which Jesus rapes a Muslim woman as well as a depiction of Pope John Paul II in a state of tumescence.
Protests also took place at the theatre itself during the plays, which were directed by Oliver Frljic from Croatia.
Cardinal Duka says that the theatre show represented an attack on his rights guaranteed by the Charter of Fundamental Rights and Freedoms. He referred specifically to the inalienability of rights, freedom of religion and the right to dignity and honour. The prelate filed the lawsuit as a private individual.
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07/12/2018
The head of the TOP 09 deputies group, Miroslav Kalousek, has called on ANO chief Andrej Babiš to apologise for accusing him of drunkenness. During a break from Wednesday evening’s session of the lower house Prime Minister Babiš said that Mr. Kalousek was plastered and also a thief.
The TOP 09 politician said he hoped the ANO leader would apologise, in which case he would cease considering legal action over the statements.
Mr. Kalousek had accused Mr. Babiš of not being manly for withdrawing to the lower house when his intention of speaking to demonstrators outside Parliament was thwarted by missiles being thrown from the crowd.
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07/12/2018
It should be mainly bright in the Czech Republic on Friday, with temperatures of up to 25 degrees Celsius. Similar weather is expected at the weekend and the start of next week.
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07/12/2018
The creation of a coalition government of ANO and the Social Democrats supported by the Communists represents the end of an era for the Czech Republic, say some opposition politicians. The government passed the necessary vote of confidence in the lower house in the early hours of Thursday.
Karel Schwarzenberg of TOP 09 said the republic created in 1993 had now been replaced by an idiosyncratic, strong-leader style democracy shaped by Prime Minister Andrej Babiš.
Petr Fiala, the leader of the Civic Democrats, said the new government was “half-communist” and would do nothing for the country. Christian Democrats’ chief Pavel Bělobrádek said that the first Czech Republic had come to an end and a new one had begun.
The Communist Party’s support for the minority coalition gives the party their first share of power since 1989.
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