• Sebrle to carry flag
    08/28/2004

    Decathlon gold medal winner Roman Sebrle has been chosen to carry the Czech Republic's national flag at the Olympic Games' closing ceremony on Sunday.
    Author: Jan Velinger

  • Finance Ministry to amend law on 'constructions savings' following record fine of anti-monopoly office against participating banks
    08/27/2004

    The Ministry of Finance said on Friday it would amend the law on building and loan institutions in order to allow participants to be able to transfer their so-called "construction savings" schemes to other institutions without penalties. The move came after the Czech anti-monopoly office this week imposed a record high fine of 484 million crowns on the country's six building and loans for having allegedly colluded on prices. The banks, which are likely to appeal the decision, were found to have taken advantage of the fact that building and loan customers cannot switch to other institutions without losing state subsidies.
    Author: Brian Kenety

  • Dutch government sponsors trip for EU accession country experts to smooth their transition from aid recipients to donors
    08/27/2004

    A group of MPs, civil servants and key figures from civil society among the 10 new European Union member states, will travel to two developing countries on Saturday on a trip sponsored by the Dutch government, which currently holds the rotating EU presidency. The Dutch Minister for Development Cooperation, Agnes van Ardenne, said the week-long trip to Uganda and Vietnam was meant to give the accession countries the opportunity to develop in their new role as aid donor — rather than recipient — states.
    Author: Brian Kenety

  • Czech currency gains slightly on confidence in Central Europe, CNB interest rate hike
    08/27/2004

    The Czech crown strengthened by Kc0.14 to Kc31.80/EUR on enthusiam by foreign investors for growth prospects in Central European region, Komercni banka's dealing section told the CTK news agency. The crown's firming is also likely due to higher interest Mates, analysts said. The Czech National Bank on Thursday raised interest rates by quarter a point to 2.50 percent. The market had anticipated the tightening of monetary policy and showed no major reaction to the move itself.
    Author: Brian Kenety

  • Topolanek questioned by police over allegations of attempted bribery
    08/26/2004

    The leader of the opposition Civic Democrats, Mirek Topolanek, has been questioned over allegations his party tried to bribe a government MP. Zdenek Koristka of the Freedom Union says Mr Topolanek's party offered him 10 million crowns (over 300,000 euros) to bring down the government in a confidence vote. The Civic Democrat leader - who strongly denies the claim - was questioned by police on Thursday, two days after his party filed slander charges against Mr Koristka.
    Author: Ian Willoughby

  • Czech National Bank raises interest rates
    08/26/2004

    The Czech National Bank has - as expected - decided to raise interest rates by 0.25 percentage points. On Friday the repo rate will grow to 2.50 percent, the discount rate will rise to 1.50 percent and the Lombard rate to 3.50 percent, a spokesman for the Bank said on Thursday. The increase will result in higher interest rates on loans and deposits at commercial banks.
    Author: Ian Willoughby

  • Mrazovka tunnel intended to relieve traffic in Prague's Smichov
    08/26/2004

    One of the biggest construction projects in Prague in recent years, a tunnel intended to relieve traffic in the Smichov district of the city, was opened on Thursday. The Mrazovka tunnel is almost one kilometre long and cost the city around 7 billion crowns.
    Author: Ian Willoughby

  • President Klaus to visit UK for first time as president
    08/26/2004

    President Vaclav Klaus is expected to begin a two-day official visit to the United Kingdom on September 6; he is due to meet Prime Minister Tony Blair and other senior officials, the Czech Press Agency reported Thursday. It will be Mr Klaus's first official visit to the UK as president.
    Author: Ian Willoughby

  • Former dissident on hunger strike, calling for Gross to resign as prime minister
    08/26/2004

    Former dissident John Bok, who has been on hunger strike since Monday, says he wants to increase pressure on Stanislav Gross to resign as prime minister. Mr Bok said he was inspired to begin the hunger strike by protests against Mr Gross's appointment of Pavel Pribyl as head of the Office of the Government. Mr Pribyl resigned when evidence emerged a riot police unit he commanded in 1989 used violence against anti-Communist protesters.
    Author: Ian Willoughby

  • Bronze medal in modern pentathlon for Czech Republic at Athens Olympics
    08/26/2004

    Libor Capilini has won bronze for the Czech Republic in the modern pentathlon at the Olympic Games in Athens. It is the first Czech medal since 1976 in the event, which consists of shooting, fencing, swimming, showjumping and a 3000m run. Capilini's success brings the Czech medal tally at Athens to eight.
    Author: Ian Willoughby

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