News

The Board of the Czech subsidiary of Russian banking group Sberbank has two new members. From the middle of July Jiří Antoš has been responsible for retail banking, Karel Soukeník is joining from October as Finance and Operations Director.

The Competition Office has begun an assessment of the recent sales of the Mafra media group to the Agrofert holding company of billionaire Andrej Babiš. If all goes smoothly the administrative proceedings should not take more than a month.

The Urals mining company UGMK is increasing its share of the Czech acompany Aircraft Industries to 100 per cent. A contract for the purchase of the minority stake held by Czech company PAMCO INT is due to be signed in the next few days.

RSJ, which uses its own mathematical models and algorithms in market trading, intends to expand into other markets. So far it has specialised in so-called futures contracts, it is interested for example in the spot market for US government bonds.

Vítkovice Power Engineering is making Westinghouse a demonstration model of one of the modules for the AP1000 nuclear power station. The US-Japanese company is offering this in its proposal for the completion of Temelín.

Laufen CZ, a leading producer of bathrooms and sanitary ware, reported turnover of 1.88 billion CZK in 2012, a year-on-year increase of 8.8 per cent. This is mainly due to exports to countries in the Middle East and Asia.

Prague is to reconstruct its central water processing unit on Císařský ostrov. The city council has already approved a new water link at a cost of 5.8 billion CZK. It will be paid for by water and sewage charges and from the city budget.

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