Czech News Daily

The Finance Ministry’s regular research of estimates of 15 domestic institutions shows that the Czech economy will grow by 0.8 % to 1.9 % in 2010, the average estimate being 1.5 %.  Source:  HN 20

The foreign direct investment (FDI) inflow into the Czech Republic decreased by more than one-half from CZK 110.1 bln in 2008 to CZK 52.2 bln in 2009. According to the Industry and Trade Ministry, the decreasing FDI balance was negatively affected by high instalments of loans that Czech branches sent to their parent companies abroad.  Source:  HN 18

The number of funerals that are not being paid for are rising rapidly.  Officials say the reasons for the increase are the economic crisis and also the cancelling of funeral subsidies.  The city of Brno has seen the number of unpaid funerals rise to 55 last year and 30 for the first quarter of this year.  The average price per funeral is CZK 6 000.  Source:  deník.cz

The movie blockbuster Avatar attracted droves of people resulting in record sales for local cinemas. Movie goers spent CZK 416 million on movie tickets which is CZK 93 million more than the same period last year.  3.494 million people went to the movies between January to March which was up by a staggering 227 000 more people than last year.  Source:  E15.cz

President Václav Klaus yesterday vetoed an amendment to environment
legislation that would have increased the volume of biofuels in petrol from
3.5% to 4.1%. The aim of the amendment was to lower greenhouse gas
emissions. However Klaus remains sceptical about the impact of
greenhouse gases. ‘First of all the fight against CO2 is by itself highly
contentious,’ said Klaus, adding that there are also grave doubts about the
effect of biofuels on human health. Source: most Czech press

It seems that the economic crisis has had more of a negative effect on
cheaper hotels.  The more expensive hotels have been able to offer
larger discounts which has attracted more clients to their
establishments.  For example, 5 star hotels have seen an increase of
visitors of 9% while 4 star hotels saw an increase of 12.8%.
According to the Czech Statistical Office the total number of guests
has increased by 0.5%.  Source: HN 20

The Ministry of Finance wants to have a closer overview of the
companies that contribute the most funds into the state budget.
Beginning in January 2012, a new financial office will open which will
deal with companies that have an annual turnover of CZK 2 billion or
more as well as other institutions with complex accounting processes.
Source:  aktuálně.cz

Residents of the Czech Republic who are planning on taking a holiday
abroad spend an average of CZK 17 000 per vacationer.  Last year
Czechs spent CZK 77.16 billion on foreign vacations.  Source:
aktualně.cz

The shares of the mining company New World Resources (NWR), which is
owned by Zdeněk Bakala, is celebrating its 2nd anniversary since it
first appeared on the  Czech stock market. Those investors who bought
NWR stock in May of 2008 for CZK 445 have to this date lost more than
44% of the initial share price.  However, investors who purchased the
stock in early 2009, when the share price was around CZK 70 per share,
are enjoying profits of 228%.  Source:  E15.cz

The economic crisis has produced another interesting consenquence.
Workers who have been sacked have retaliated against their former
employers and have been reporting them for the illegal use of
software.  According to a study by the Business Software Alliance, a
total of 30% of complaints filed for the illegal use of software has
come from former employees.  Source:  E15 7