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03/10/2005
The Czech Statistical Office has released figures showing the Czech Republic's GDP grew by 4.0 per cent in 2004, up from 3.7 percent the previous year. The growth was pulled by investment which added 9.1 percent on the year, and by foreign trade which had acted as a drag in 2003. Czech exporters also benefited from the country's accession to the European Union, the Statistical Office said. Meanwhile, Martin Jahn, the deputy prime minister for economic affairs, has said the Czech economy is at its strongest in ten years, leaving room for further government reforms in the social and tax spheres.
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03/10/2005
The Czech Statistical Office has also reported the average income grew by slightly more than 1,000 crowns last year to roughly 18,000 crowns per month, or about 820 US dollars. In real terms that represents a rise of 3.7 percent, the lowest in four years.
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03/10/2005
The minister for regional development has said that districts and towns should be allowed to raise regulated rent from between 6 to 12 percent per year for a period of five or six years. He added tenants whose rent exceeded 30 percent of their net income would be eligible for social support. The minister is confident his plan could gain support in Parliament, though coalition partner the Christian Democrats, and the country's largest opposition party, the Civic Democrats, are calling for a quicker increase. Around 750, 000 apartments in the Czech Republic are subject to regulated rent, of which roughly 300, 000 are privately owned.
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03/10/2005
One of the Czech Republic's top road cyclists Jan Svorada got a scare when he collided with a car at an intersection on Wednesday. Svorada was thrown over the car's hood when the driver failed to yield right of way, but suffered only minor injuries. The cyclist had been travelling at a speed of about 50 kilometres per hour. Mr Svorada has been dominant in Czech cycling for the past decade, winning a total of 74 races.
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03/09/2005
The Czech government has approved a proposal for a new constitutional law that would allow ordinary citizens hold referendums on important internal and foreign state policy. Under the bill, a referendum could not be held on issues that question constitutional principles and fail to respect the country's international obligations. Citizens would, however, be able to vote on the European constitution, which has to be ratified by all EU member states before October 2006. In order to be passed, the bill has to be supported by 120 of the 200 deputies in the lower house and three fifths of Senators.
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03/09/2005
The Skoda Auto car manufacturer plans to double production at its plant in the Indian town of Aurangabad and export to Bangladesh this year. Skoda Auto is based in the central Bohemian town of Mlada Boleslav but is now owned by Germany's Volkswagen Group. Skoda has already invested 100 million euros in the Indian plant. It is the manufacturer's only plant outside Europe and currently produces some 15,000 vehicles a year.
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03/09/2005
The Czech crown hit a historic high against the US dollar of 21.90 crowns on Wednesday. It also reached a 2.5 year high against the euro when it stood at 29.29 to the single European currency. The Czech National Bank said on Wednesday it was considering intervening against the strong crown.
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03/08/2005
President Vaclav Klaus met with the US President George W. Bush at the White House on Tuesday. The meeting lasted around thirty-five minutes and President Klaus later described it as "friendly and positive". The two leaders discussed transatlantic priorities, the situation in the Middle East, security issues as well as bilateral ties and the Czech government crisis. It was President Klaus' first bilateral meeting with the US leader since taking office two years ago. Commentators say it marks the end of a period of distinctly cool relations between the two statesmen widely attributed to Mr. Klaus' opposition to the war in Iraq. President Klaus is on a working visit to the United States, promoting his book on the Czech Republic's journey from communism to a free society.
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03/08/2005
Prime Minister Stanislav Gross has said he sees no reason for the government to initiate a vote of confidence in Parliament following the protracted government crisis. After a meeting with senior party officials, Mr. Gross told journalists that his Cabinet was fully functional and capable of meeting the challenges ahead. The Prime Minister also reiterated his intention to run for the post of party chairman at the upcoming party conference in March. Mr. Gross told journalists he was not considering leaving either of his posts - party chairman or prime minister. The ruling Social Democrats have been under pressure to ask Parliament for a vote of confidence and to choose a new party leader at their March conference.
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03/07/2005
President Vaclav Klaus is expected to meet the US President George W. Bush at the White House on Tuesday. The meeting is expected to last around thirty minutes, according to the Czech Republic's Ambassador to the United States, Martin Palous. Mr Palous did not comment on the topics to be discussed by the two presidents but called the visit a "positive signal for Czech-US relations". President Klaus is currently on a private visit to the United States, promoting his book on the Czech Republic's journey from communism to a free society.
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