State-owned railway operator Ceske Drahy (CD) raised its net profit by 200% y/y to CZK 6mn (EUR 244,000) in the first quarter of 2011, as it cut staff costs to offset higher prices of diesel, electricity and fees, CTK newswire reported. The company raised its energy costs by CZK 41mn and railway fees increased by CZK 54mn. CD allocated CZK 98mn on train cars' repair and maintenance. The companys operating profit (EBITDA) reached CZK 502mn. Earlier in May, CD said it plans to issue EUR 300mn in bonds on the foreign markets to finance fleet renewal and existing loans. We remind that international rating agency Moodys has recently assigned a provisional (P) Baa1 rating on CD with a negative outlook. |
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