GE Aviation’s Czech’s unit specializes in the type of turbo-prop engines used by business aircraft and those making fairly short city to city hops. Business was good last year with 80 aero engines sold, an increase of around 30 percent on 2013. That took 2014 turnover to 1.2 billion crowns compared with 860 million crowns in 2013.
The European Commission has lifted a two-year- freeze banning the Czech Republic from accessing funds from the EU’s Operational Program for Enterprise and Innovation. The move was made in connection with a number of dubious public tenders and it left the Czech Republic financing all ensuing projects from state coffers.
An annual competitiveness report compiled by the IMD Business School in Lausanne, Switzerland, puts the Czech Republic 29th on a ladder of sixty-one countries. Its present ranking, four notches higher than last year, confirms a turnaround in the country’s performance which was first reflected in the Global Competitiveness Report published by the World Economic Forum last September.
This Sunday, President Milos Zeman has called a meeting at Lany Chateau with the country’s prime minister, finance minister and central bank governor to discuss plans for the speedier adoption of the single European currency. Prime Minister Bohuslav Sobotka revealed the news in an interview for commercial radio station Rádio Impuls on Tuesday. At the same time, he stressed, adoption of the euro was not something which would happen during this political cycle.
Rumours are circulating that a major car manufacturer is eyeing up locations in Central Europe for a new plant. And top of the range producer Jaguar Land Rover, owned by India’s Tata Motors, is usually singled out as the likely investor. According to various sources, the Czech Republic, Slovakia, Poland, and Hungary are in the running for the massive investment.