Business briefs

OECD raises estimate of Czech GDP growth; Skoda Praha signs $95m deal with Mexico's Genermex; Parliament considers land appropriation bill; Ernst & Young names 'Entrepreneur of the Year'; Pirated software down in the CR

Business briefs

OECD raises estimate of Czech GDP growth

OECD

The OECD has raised its estimate of Czech GDP growth for this year from 3.1 to 3.9 percent, and predicts a growth of over 4 percent in the next two years. The organisation recommended that the Czech government focus on improving the state of public finance and carry out health-care and pension reforms to sustain the high growth.

Skoda Praha signs $95m deal with Mexico's Genermex

Czech engineering firm Skoda Praha has signed a deal with Mexico's Genermex to supply a steam-gas power plant to Monterrey, Mexico. The deal, worth $95 million, has been in the works since 2002.

Parliament considers land appropriation bill

The lower house of parliament this week sent to a third reading a bill for easing the process of confiscating land for highways and rail lines. The bill also seeks to speed up the approval process for building roads. This would allow the state to fulfil the infrastructure promises given to the Kolin-based automotive joint-venture TPCA, which needs to haul car parts in from Poland.

Ernst & Young names 'Entrepreneur of the Year'

Miroslav Rihak of Anect systems integrators was named "Entrepreneur of the Year" in a survey sponsored by the consultancy Ernst & Young. His company has grown from sales of 40 million crowns in 1994 to an expected 900 million crowns this year.

Pirated software down in the CR

The percentage of pirated software in the Czech Republic dropped last year to an estimated 40 percent, which was the best result in Eastern Europe and which put the country in the top 20 internationally.

Czech currency improves record high against the US dollar

The Czech currency this week further improved its record high to the U.S. dollar firming by 14 hellers to 23.54 crowns to the dollar, due to continued fall of the U.S. currency on world markets and a strong crown against the euro.