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China's Shanghai Pudong Development Bank will rent the former headquarters of the Hongkong & Shanghai Banking Corp, the most impressive building on the city's waterfront Bund, an official said on Tuesday.
The official said a signing ceremony would be held on Thursday in the grand main hall of the building, opened i... | 11 |
China has approved three foreign banks to conduct local currency business, the official Shanghai Star newspaper reported Tuesday, but bankers said the deals could not start until a thorny tax rate issue was solved.
The newspaper said the three banks -- Citicorp's Citibank, Tokyo-Mitsubishi Bank and Hongkong & Shang... | 11 |
Last week's stern crackdown on China's stock markets has increased the speculative instinct of investors to trade on rumours of policy shifts rather than on fundamentals, analysts said on Monday.
The share markets started their latest bull run in April when Beijing announced it would support the markets.
Rumours and gu... | 11 |
The most magnificent building of old Shanghai -- the former Hongkong & Shanghai Bank headquarters on the waterfront Bund -- became a bank once again on Thursday, with a state-run Shanghai bank renting it from the city.
In a signing ceremony in the huge main banking hall of the building, first opened in 1925, the Sh... | 11 |
China's top cashmere producer, Inner Mongolia Erdos Cashmere Products Co Ltd, reported good interim results on Monday and brokers expect a solid second half as raw material prices fall.
The company, a favoured stock among Shanghai's B share market bucked the trend of disappointing mid-term results with a 25 percent inc... | 11 |
China's foreign currency B shares in both Shanghai and Shenzhen surged on Wednesday as investors piled in money on the back of rumours the government was planning measures to support the markets, brokers said.
Shanghai's B share index soared 5.49 percent to 49.689 points, while the Shenzhen index was up 8.25 percent to... | 11 |
Chen Yifei, China's top-selling modern artist, is back home in Shanghai, basking in the glow of his international success and planning a shift in subject matter -- this time to illustrate China's Generation X.
The artist, best known for his almost photographic paintings of Chinese beauties, opened his first-ever retros... | 11 |
"Why can't I access the Playboy Website?"
That, say computer experts, is one of the most common complaints from the growing number of Internet users in China.
China, which controls information more carefully than most countries in the world, is cautiously opening up access to the Internet, in spite of the problems rais... | 11 |
China issued another strong signal Sunday that its stock and bond markets have been given the green light for fast growth to provide the economy with more efficient means of investment.
A report in the official Shanghai Securities News was the latest in a series of indications that Beijing's previous suspicion of the s... | 11 |
China's foreign currency B shares went on another roller-coaster ride on Tuesday, with Shenzhen stocks rising 9.5 percent at midday before falling back to score a modest 1.27 percent increase on the day.
The Shanghai B share index was up 2.1 percent at the close after hitting its year-high of 54.475 at the end of the m... | 11 |
More foreign firms are finally beginning to realise the dream of the China market that has long tantalised traders -- selling goods to the world's largest slice of mankind and making money from it.
Many foreign companies remain stuck in China ventures that are loss-making and frustrating, but the number turning a profi... | 11 |
China's state debt has become the top investment choice among local investors in 1996, thanks to a slew of market reform measures, but further reforms are needed to ensure a continued boom, analysts said on Tuesday.
Beijing ended a record issue of 195.2 billion yuan ($23.52 billion) worth of treasury bills and bonds fo... | 11 |
Last week's stern crackdown on China's stock markets has increased the speculative instinct of investors to trade on rumours of policy shifts rather than on fundamentals, analysts said Monday.
The share markets started their latest bull run in April when Beijing announced it would support the markets.
Rumours and guess... | 11 |
China's stock markets surged anew on Wednesday following two days of dramatic falls, as investors recovered from the shock of an official crackdown on speculation, traders said.
Shanghai's B share index closed up 9.84 percent at 64.252 points and the A index was up 7.34 percent at 1016.241.
In Shenzhen, the B share ind... | 11 |
The threat of a Sino-U.S. textiles trade war is having little impact on Chinese firms as it is unlikely to go beyond words and because the companies are performing poorly, company officials and brokers said on Wednesday.
Company officials said they had got used to the continual verbal duelling between Beijing and Washi... | 11 |
China's crackdown on the stock markets this week is partly fuelled by fears in Beijing that the incredible volatility of the exchanges could lead to social instability, analysts said on Tuesday.
They said the move was also aimed at avoiding disruption caused by foreign and domestic speculators who had planned to pump m... | 11 |
China's B share markets in both Shanghai and Shenzhen slid on Wednesday on profit-taking following huge increases in recent weeks and reports of tighter controls in Shenzhen, analysts said.
The Shanghai B share index fell 3.649 points or 4.55 percent to 80.685 on Wednesday, with volume heavy at 95 million shares worth ... | 11 |
China's domestic A shares continued to plummet on Thursday with investor confidence still in tatters following the rude shock of a government crackdown on the markets on Monday, traders said.
Shanghai's foreign currency B share index ended little changed at 64.343 points with bargain-hunting support prices, but A share... | 11 |
China has approved three foreign banks to do local currency business, the official Shanghai Star newspaper reported on Tuesday, but bankers said deals could not start until a thorny tax rate issue was solved.
The newspaper said the three banks are Citibank, Tokyo-Mitsubishi Bank and Hongkong & Shanghai Banking Corp... | 11 |
A sudden crackdown on China's fledging stock markets pushed most shares to limit-down levels on Monday and triggered an outcry from securities brokerages and retail investors.
The People's Daily, mouthpiece of the Communist Party, said in a commentary on Monday that the country's stock markets had overheated on widespr... | 11 |
China's financial markets have made significant steps towards maturity in 1996, with Beijing more willing than ever to allow them to gradually take on the mantle of economic control, analysts said on Friday.
But the Chinese securities, futures and money markets, less than six years old and still suffering the volatilit... | 11 |
Shanghai's foreign currency B share market has been consistently hitting historic lows over the past two weeks, and there's little prospect of a recovery at least until the middle of next year, analysts said on Monday.
They said there was no sign of a bottom to the market, with the foreign investors for whom the market... | 11 |
China's futures markets, which fell deeper into the gloom of official disapproval in 1996, look set for an even tighter year in 1997 with some small exchanges likely to be swallowed by bigger ones, analysts said on Friday.
There is still no sign of the long-awaited Futures Law being unveiled, but the analysts said the ... | 11 |
China is firming up a shortlist of foreign banks that will be allowed to do local renminbi currency business, foreign bankers said on Monday.
Hongkong Bank, Citibank and Bank of Tokyo-Mitsubishi are expected to be among the winners, they said.
Foreign banks with branches in China, currently restricted to doing business... | 11 |
The crackdown on China's young stock markets has triggered huge losses in share values and highlighted problems, particularly widespread irregularities and the lack of a regulatory structure, analysts said Friday.
The week of losses on the exchanges in the wake of a Beijing warning on speculation was also a re-run of t... | 11 |
China unveiled on Tuesday the country's first major shipping exchange which it hopes will consolidate and standardise ship chartering and cargo fixing in East China and be a focus for the shipping trade nationwide.
Officials told a news conference that all shipping and freight companies in the east China region had bee... | 11 |
China's effort to push domestic investors out of foreign currency B shares on its stock markets has so far failed, but volumes on the B markets have fallen significantly, analysts said on Monday.
The official media on September 21 announced that local investors were banned from buying any more of the B shares listed on... | 11 |
China will open its domestic A share markets to overseas investors through Sino-foreign joint venture mutual funds early next year, a Hong Kong newspaper said on Tuesday, but analysts predicted a cautious approach.
Brokers and analysts in Shanghai said the long-awaited experiment in foreign investment in China's A shar... | 11 |
China on Monday named the first four foreign banks, based in Shanghai, to be allowed to conduct business in the local Chinese currency, ending months of speculation.
The four banks are the Hongkong & Shanghai Banking Corp, Citibank, Tokyo-Mitsubishi Bank and the Industrial Bank of Japan.
A spokesman for the Shangha... | 11 |
China's personal bank deposits, which surged in the past two years to stratospheric levels, have begun to grow more slowly as a result of two bank interest rate cuts this year, bankers and analysts said on Wednesday.
But the growth rate is still high -- more than 30 percent year-on-year -- and the huge deposits in the ... | 11 |
Trading on most of China's futures markets, under pressure from Beijing to curb speculation, has now dropped so far that hedging has become virtually impossible, traders and analysts said on Tuesday.
A trader with a futures firm in Shanghai said only the metals contracts market, the Shanghai Metal Exchange, still had e... | 11 |
Chinese authorities have closed their eyes to the booming illegal trade by domestic investors in foreign currency B shares and will not interfere unless the market becomes too speculative, analysts said on Friday.
The B shares listed on China's two stock markets, in Shanghai and Shenzhen, were created to attract funds ... | 11 |
China's top securities watchdog on Monday issued new requirements for exchanges and securities houses to strengthen risk control with the aim of cooling its over-heated domestic A share markets.
But the markets in Shanghai and Shenzhen responded with fresh rises in active trading with the A share indices hitting new 19... | 11 |
China's B shares fell once again on Thursday with investors running scared in the face of reports that securities authorities would restrict mainland Chinese from trading in B shares, traders said.
Shanghai's foreign-currency B share index closed down 5.127 points or 6.35 percent to 75.558 points while Shenzhen's B ind... | 11 |
China's biggest electronics investment, a $1.2 billion integrated circuit (IC) production facility in Shanghai, is looking for foreign joint venture partners, the firm's president said.
Lu Dechun, director and president of the Shanghai Hua Hong Microelectronics Co Ltd, said the firm was in discussion with a number of m... | 11 |
The Chinese authorities acted decisively on Friday to stop extraordinary price movements on the country's two stock markets by imposing a limit of 10 percent in the movement of any stock on one day.
In announcements made after the market closed on Friday, the Shanghai and Shenzhen stock exchange set daily movement limi... | 11 |
China's securities authorities Tuesday ordered the takeover of a futures exchange in what analysts said was the beginning of a clean-up campaign that may leave China with only four or five large futures exchanges.
The China Securities Regulatory Commission said the Changchun United Commodity Exchange would merge with t... | 11 |
To hear the Shanghai Film Studio tell the story, it is a classic drama of a poor, brave underdog challenging a greedy, monopolising giant.
But the studio, one of the oldest and biggest film-making operations in China, says it is gaining ground in its cinema chain war against the main movie distributor in Shanghai, the ... | 11 |
The crackdown on China's young stock markets has triggered huge losses in share values and highlighted problems, particularly widespread irregularities and the lack of a regulatory structure, analysts said on Friday.
The week of losses on the exchanges in the wake of a Beijing warning on speculation was also a re-run o... | 11 |
China is cleaning up its market for mutual funds to prepare them to become a key vehicle to channel huge bank deposits back into the economy and stabilise its volatile stock markets, analysts said on Monday.
Among the most important steps, Beijing last week lifted a three-year ban on new listings of stock investment fu... | 11 |
Shanghai copper futures, which have fallen steadily over the past year, will see further declines in early 1997 with fundamentals poor and domestic demand stable, analysts and traders said on Wednesday.
Shanghai copper has fallen from its record high of around 32,000 yuan a tonne in mid-1995 to the 20,000-yuan level, a... | 11 |
Shanghai city is on the verge of renting out the former Hongkong & Shanghai Bank building on the riverside Bund to an unnamed bank but definitely not the Hongkong Bank, a senior official said on Wednesday.
The official, Zhou Jinbao, said final negotiations were in progress with two or three contenders for the huge ... | 11 |
China's B shares continued their sensational surge on Tuesday with Shanghai's index gaining 11.63 percent and Shenzhen 4.7 percent as foreign and Chinese investors poured funds into the markets.
Trading volume on the Shanghai B share market hit a 15-month high of 63.595 with the index ending up 6.525 points or 11.63 pe... | 11 |
China's crackdown on stock markets this week is partly fuelled by fears in Beijing that the volatility of the exchanges could lead to social instability, analysts said on Tuesday.
They said the move was also aimed at avoiding disruption caused by foreign and domestic speculators planning to pump money into the markets ... | 11 |
Too many futures exchanges in China are presently trading metals contracts, which should realistically be limited to just one or two given the current low trading volumes, officials and analysts said on Thursday.
Five of China's 14 futures exchanges have metals contracts but only two of them, the Shanghai and Shenzhen ... | 11 |
Shanghai's real estate market is showing signs of recovery thanks to growing numbers of individual home-buyers and policy support from the city government, analysts and officials said on Thursday.
Increasing numbers of people are buying their own homes in the city as a result of lower interest rates, a state-run house-... | 11 |
China is expected to end the year without loosening its three-year old tight credit policy as rampant local fixed asset investment continues to threaten economic over-heating, analysts said on Thursday.
Earlier this year, China seemed poised to modify the austerity measures, but a surge in fixed asset projects since Ju... | 11 |
Shanghai B shares soared a stunning 12.22 percent on Tuesday as new money poured into the market from both local and foreign investors, and analysts said there was a lot more capital waiting to enter the market.
The Shanghai foreign currency B share index closed at 84.534 points, its highest level since September, 1994... | 11 |
China's cautious and much-delayed experiment with convertible bonds as a way of raising corporate funds is expected to move forward next year with up to 6-10 foreign currency issues, brokers and analysts said on Wednesday.
Chinese securities authorities have said on a number of occasions they want to conduct test issue... | 11 |
China issued another strong signal on Sunday that its stock and bond markets have been given the green light for fast growth to provide the economy with more efficient means of investment.
The official Shanghai Securities News said the stock and bond markets must be developed vigorously to provide a stronger foundation... | 11 |
Volkswagen AG Czech unit, Skoda Auto a.s., on Friday launched sales of its new sedan, the Octavia, hoping to kill off jokes about Communist-era quality, and pull the company into profit.
Officials said the new model, built on a common VW platform designed for the 1998 Audi A3 and upgraded Golf, would expand Skoda's mar... | 18 |
The Czech crown rose on Thursday to its highest level against its mark/dollar basket, buoyed by comments by Prime Minister Vaclav Klaus that devaluation was not needed despite a widening trade gap.
The crown rose to 4.5 percent above the cross rate of the two-currency basket late in the afternoon and dealers said that,... | 18 |
Czech President Vaclav Havel said on Thursday he was deeply disturbed by a Chinese court's 11-year prison sentence on dissident Wang Dan on charges of plotting to overthrow the government.
Havel, himself a former dissident against a Communist government, said in a statement that after last year's jailing of Wei Jingshe... | 18 |
Italy, seeking a larger role in helping to fold former East Bloc countries into NATO, believes it is better to integrate, and not isolate, fringe candidates like Slovakia and Romania, a senior Italian diplomat said.
During an official visit to Prague, Undersecretary for Foreign Affairs Piero Fassino told reporters late... | 18 |
The Czech Republic has its first Senate since before World War Two, but an electoral win by the governing coalition appeared to have smothered talk of early general elections.
The three centre-right coalition parties took 52 seats in the new upper house of parliament on Saturday, but voter turnout of only 30 percent co... | 18 |
Czech pundits once looked at mid-November Senate elections as a possible beacon to cut through the political fog created by indecisive June lower house elections.
What is clear after the two-round vote completed this past weekend is only that many Czechs do not care about the Senate.
Prime Minister Vaclav Klaus and his... | 18 |
Czech Justice Minister Jan Kalvoda, a deputy premier and leader of a junior partner in the ruling coalition, quit the government and parliament on Tuesday for falsely using an academic title, the CTK news agency said.
Kalvoda, aged 43, resigned for falsely claiming he was a doctor of law amid a growing row over the aca... | 18 |
Elections to the new Czech Senate over the next two weekends will only thicken the country's political fog, but an indecisive electorate has already been priced into the financial markets, analysts said on Monday.
Prime Minister Vaclav Klaus has been stuck in an uneasy political co-habitation since his centre-right coa... | 18 |
The Czech consumer price index rose 0.5 percent in October putting year-on-year inflation at 8.7 percent, down from 8.9 percent in September, the Czech Statistical Bureau said on Friday.
The moving 12-month average of inflation remained unchanged at 8.7 percent in October. The figures were most influenced by a full per... | 18 |
The Czech Statistical Bureau (CSU) on Friday cut its forecast for 1996 real gross domestic product (GDP) growth as lower export demand, especially from neighbouring Germany, fuels the trade deficit and eases Czech expansion.
The CSU cut its full-year 1996 GDP projection to 4.8 percent growth -- the same as the real res... | 18 |
Czech National Bank (CNB) Governor Josef Tosovsky said that despite objections from some cabinet officials, it was too early to write off the central bank's plan to create post-Communist Europe's largest bank.
Tosovsky said he expected the full cabinet to consider "in a few weeks" the CNB's plan which includes the prop... | 18 |
A stronger showing by Prime Minister Vaclav Klaus's rightwing Civic Democratic Party in the first round of Senate elections may give a mild fillip to local financial markets, Czech analysts predicted.
But a thin turnout made it hard for the three-party coalition government, which lost its lower house majority in June, ... | 18 |
The Czech merchandise trade deficit jumped 16.4 billion crowns in July, the largest monthly increase in the country's history, but forecast tourism revenue and the structure of imports tempered analysts' concerns.
The Czech Statistical Bureau (CSU) said on Monday that the July increase put the seven-month trade deficit... | 18 |
Volkswagen AG Czech unit, Skoda Auto a.s., on Friday launched sales of its new sedan, the Octavia, hoping to kill off jokes about Communist-era quality, and pull the company into profit.
Officials said the new model, built on a common VW platform designed for the 1998 Audi A3 and upgraded Golf, would expand Skoda's mar... | 18 |
The Czech Republic's tenuous coalition government sought on Wednesday to repair the damage caused by the shock departure of Justice Minister Jan Kalvoda, who quit after admitting using a phoney academic title.
A cabinet aide said Prime Minister Vaclav Klaus and key members of the three-party coalition government were w... | 18 |
The head of the Czech Republic's largest bank is on a crusade to clean up the emerging post-communist banking sector from within and, he hopes, from a seat in the Senate.
Dr Richard Salzmann, the bow-tied president of Komercni Banka, says the Czech banking system is fundamentally sound and getting stronger despite a ha... | 18 |
A stronger showing by Prime Minister Vaclav Klaus's centre-right Civic Democratic Party in the first round of Senate elections may give a mild fillip to local financial markets, Czech analysts predicted.
But a thin turnout made it hard for the three-party coalition government, which lost its lower house majority in Jun... | 18 |
Czech President Vaclav Havel has been moved out of intensive care three weeks after surgery to remove a malignant tumour from his lung, but he will have to spend Christmas in hospital, doctors said on Monday.
"Mr. President has ended his stay in the intensive care unit and has been moved to a standard-care room," the h... | 18 |
Czech analysts on Sunday said the domination of pro-market Prime Minister Vaclav Klaus's party in the weekend's first-round Senate elections would have a neutral to mildly positive effect on local financial markets on Monday.
But they said thin voter turnout made it hard for Klaus and his three-party coalition to concl... | 18 |
Germany and the Czech republic announced on Monday that a long-awaited declaration on post- World War Two reconciliation would be initialled this week but politicians on both sides withheld final approval of the text.
The two foreign ministries said Czech Foreign Minister Josef Zieleniec and Germany's Klaus Kinkel woul... | 18 |
Czech Prime Minister Vaclav Klaus kept his options open on whether the domination of his Civic Democratic Party (ODS) in this weekend's first round of Senate elections might encourage a quest for a larger mandate.
As results for the new upper house came in late on Saturday, Klaus reserved comment on possibly using his ... | 18 |
The Czech crown firmed from the central bank fixing on Thursday, building on gains after a strong showing of the senior coalition party in Senate elections last weekend and prospects for the second round vote.
Analysts said Prime Minister Vaclav Klaus's pro-business Civic Democratic Party (ODS) was expected to take a m... | 18 |
The Czech coalition government on Wednesday looked to recover from the resignation of Justice Minister Jan Kalvoda, a deputy premier who joined four other politicians in admitting they used phoney academic titles.
A cabinet aide said on Wednesday that Prime Minister Vaclav Klaus and key members of the tenous three-part... | 18 |
The ancient Czech capital has suffered invasions of dictators and demonstrators but nothing and no-one so extraordinary as Michael Jackson and his cohorts.
The controversial and self-styled "King of Pop" plays his first concert in two years when the "HiStory" world tour starts on Saturday on Prague's Letna Plain, where... | 18 |
In May 1945, seven-year-old Madlenka Korbelova sat glued to a radio in London, listening with her exiled Czech diplomat father to news of the U.S. army's liberation of the western part of her native land.
They cheered when General George Patton's army forced Nazi soldiers out of the famous brewery town of Pilsen.
They ... | 18 |
Czech Justice Minister Jan Kalvoda, a deputy premier and leader of a junior partner in the ruling coalition, quit the government and parliament on Tuesday for falsely using an academic title, the CTK news agency said.
Another member of parliament from a coalition party also quit parliament for the same reason, while th... | 18 |
Germany and the Czech Republic on Friday concluded nearly two years of sensitive talks on a joint declaration aimed at finally healing the wounds of World War Two and the communist era that followed.
German Foreign Minister Klaus Kinkel and his Czech counterpart Josef Zieleniec signed a protocol which sends forward a t... | 18 |
The Czech engineering company CKD Holding a.s. said on Thursday that it had won two contracts totalling roughly $200 million to supply trams to the city of Manila in the Philipines.
The order by Manila's MRTC for trams to be used in its massive new mass transit project -- and to be produced at the CKD Tatra plant in Pr... | 18 |
The Czech crown firmed on Thursday to its highest level against its mark/dollar basket, buoyed by Prime Minister Vaclav Klaus' comments that devaluation was not needed despite a widening trade gap.
By mid-morning the crown moved to around 4.3 percent above its daily parity rate set by the Czech National Bank (CNB) agai... | 18 |
In May 1945, seven-year-old Madlenka Korbelova sat glued to a radio in London, listening with her exiled Czech diplomat father to news of the U.S. army's liberation of the western part of her native land.
They cheered when General George Patton's army forced Nazi soldiers out of the brewery town of Pilsen.
They cursed ... | 18 |
The Czech government's tourism office on Wednesday forecast record income from foreign visits in 1996, as "Golden Prague" and its environs put a silver lining in otherwise dreary Czech trade figures.
Income from foreign visitors, crucial in stemming the Czech current account deficit, could surge to top $3.5 billion thi... | 18 |
A senior U.S. Defence Department official on Tuesday dismissed Czech army detections of chemical agents released in the early days of the Gulf War, saying the incidents were not verifiable by American equipment.
Amid growing criticism that the Pentagon fumbled reports of U.S. troops' exposure to nerve gas agents in 199... | 18 |
The head of the Czech Republic's largest bank is on a crusade to clean up the emerging post-communist banking sector from within and, he hopes, from a seat in the Senate.
Dr Richard Salzmann, the bow-tied president of Komercni Banka, says the Czech banking system is fundamentally sound and getting stronger despite a ha... | 18 |
As Czech leaders finally get around to discuss a worrying surge in the trade deficit, analysts suggest a mixed bag of macro and micro-economic fixes, but most say devaluing the crown should be avoided.
Some say the deficit is a necessary product of economic reform and will turn around next year, while the gap between g... | 18 |
Volkswagen AG's Czech unit Skoda Automobilova a.s. launched its first up-market post-Communist model on Sunday, the "Octavia" sedan, with a street party in Prague's Old Town Square.
The new model, built on a common VW platform designed for the 1998 Audi A3 and upgraded Golf, burst through a wall onto a stage in the cen... | 18 |
Czech President Vaclav Havel, the only man who can smoke next to militant Hollywood anti-smoker Barbra Streisand, is facing a life without his beloved cigarettes after surgery revealed a cancerous lung.
Havel's heavy smoking is a fixture of his Bohemian intellectual image, but it is widely believed that it caused the m... | 18 |
Czech economic growth should slow
in 1997, before accelerating again as an ailing foreign trade
balance improves, the Organisation for Economic Cooperation and
Development (OECD), said on Thursday.
Czech inflation, it said, should ease a bit in 1997 and
more decisively the following year.
In its twice-yearly report, th... | 18 |
The Czech crown firmed from the central bank fixing on Thursday, building on gains after a strong showing by the senior coalition party in Senate elections last weekend and prospects for the second round vote.
Analysts said Prime Minister Vaclav Klaus's pro-business Civic Democratic Party (ODS) was expected to take a m... | 18 |
Slower-than-expected third quarter economic growth might force the Czech National Bank (CNB) to make a modest interest rate cut early next year, but analysts said the priority would still be to fight inflation.
The Czech Statistical Bureau (CSU) said on Thursday that third quarter gross domestic product (GDP) grew by 3... | 18 |
Czech Unipetrol a.s. on Wednesday announced a long-awaited plan to convert shares in Kaucuk a.s. and Chemopetrol a.s. into Unipetrol shares.
In a joint statement the boards of Chemopetrol, Kaucuk and Unipetrol, the country's new petrochemical holding company, said they agreed to swap one Chemopetrol share for between 1... | 18 |
Czech fund manager Harvard Capital & Consulting (HC&C) said on Tuesday it paid a one million crown ($36,500) fine for illegal trading practices from 1993 to 1995, and was making amends.
In a statement HC&C said that Viktor Kozeny, the young Czech-born entreprenuer who founded HC&C, which is not connecte... | 18 |
Czech President Vaclav Havel, former dissident playwright and leader of Prague's 1989 revolution against Communism, will undergo exploratory surgery on his lungs next week, the presidential office said on Tuesday.
In a statement, Havel's spokesman Ladislav Spacek said the president would have "a necessary operative pro... | 18 |
Finance Minister Ivan Kocarnik on Monday, for the second week in a row, skipped a meeting with the Prague bourse's governing chamber, amid growing calls for his ministry to tackle problems in Czech securities trading.
"At two o'clock (Kocarnik) cancelled his participation in this afternoon's meeting," Prague Stock Exch... | 18 |
The Czech National Bank (CNB) has proposed merging savings bank Ceska Sporitelna, with foreign trade bank Ceskoslovenska Obchodni Banka a.s.(CSOB), and then privatising the new megabank which would be the largest in post-Communist Eastern Europe.
CNB spokesman Martin Svehla told Reuters that the proposal was part of a ... | 18 |
Germany and the Czech republic will initial a long-awaited declaration on post-World War Two reconciliation between their two states on Friday in Prague, the Czech foreign ministry said on Monday.
A ceremony ending the two-year-long talks on the text will be held with Czech Foreign Minister Josef Zieleniec and Germany'... | 18 |
Czech President Vaclav Havel on Thursday said he was deeply disturbed by a Chinese court's 11-year prison sentence on dissident Wang Dan who was accused of plotting to overthrow the government.
Havel, himself a former dissident against a Communist government, said in a statement that after the 14-year sentence last Dec... | 18 |
The Czech government's tourism office on Wednesday forecast record income from foreign visits in 1996, as "Golden Prague" and its environs put a silver lining in otherwise dreary Czech trade figures.
Income from foreign visitors, crucial in stemming the Czech current account deficit, could surge to top $3.5 billion thi... | 18 |
Italy, seeking a larger role in helping to fold former East Bloc countries into NATO, believes it is better to integrate, and not isolate, fringe candidates like Slovakia and Romania, a senior Italian diplomat said.
During an official visit to Prague, Undersecretary for Foreign Affairs Piero Fassino said in an intervie... | 18 |
Czech Prime Minister Vaclav Klaus said on Thursday his ruling Civic Democratic Party (ODS) would end the governing coalition if his partners backed opposition plans to lower the pension age and boost farm subsidies.
In a blistering statement aimed not only at the opposition Social Democrats, but also his party's centri... | 18 |
The health of Czech President Vaclav Havel has improved considerably as he recuperates from lung cancer surgery last week, his spokesman said on Sunday.
Havel, 60, who had a small malignant tumour removed along with half of his right lung on December 2, required an emergency tracheostomy on Thursday to connect a respir... | 18 |
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