Cyprus-based company Levos Limited bought 5.05% in Czech largest petrochemical group Unipetrol, 63% controlled by Polish petrochemical concern PKN Orlen, on Sep 7. Unipetrol reported a net profit of CZK 829mn (EUR 32.2mn) in H1, as compared to a CZK 544mn loss a year ago, as a result of the introduction of a number of cost-saving and optimising measures. The improved macroeconomic environment and the higher demand for the company's petrochemical and refinery products (mainly abroad, as domestic demand stagnated) also supported the improved financials. Unipetrol sales surged by 36.9% y/y to CZK 41.4bn in H1. |
Social Democrats (CDDS), the major Czech opposition party, proposed next year's general and European elections to be held on the same day, CTK news agency reported. CSSD leader Bohuslav Sobotka ... more
The Czech unit of UK retailer Tesco faces a fine of up to CZK 3mn (EUR 116,000) for selling beef lasagne containing undeclared horsemeat, Radio Prague reported. The state-run Agricultural and Food ... more
The upper house of the Czech parliament, the Senate, voted on March 20 a constitutional amendment to limit the immunity of lawmakers and constitutional judges, Radio Prague reported. Out of the ... more