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Foreign companies are increasingly taking their profits out of the Czech Republic, with the country’s figures in this respect considerably worse than those of neighbouring states. Last year over CZK 300 billion of profits left the country, twice the figure seen 10 years ago, the business daily Hospodářské noviny reported on Wednesday.

With temperatures in the 30s more people than ever are reaching for a frothy pint of the golden brew to quench their thirst. And, after years of strictly conservative tastes, many Czechs are now ready to trade their Pilsner or Budvar for a new experience – a craft beer from one of the country’s mini breweries.

The volume of Czech public tenders may have been decreasing in recent years but the workload they are create for the state competition watchdog is rocketing. The Office for the Protection of Competition would now like to see some changes in the law which could reduce some of the burden and allow it to wrap up cases quicker.

Car maker Skoda Auto is about to launch a new service on the Czech market– a long term operation leasing scheme for private individuals. At the outset the service will be targeted at well-off clients who are used to trading in their vehicle for a new model every few years and who do not want the bother of dealing with regular servicing and insurance.

Czech retailers are once again in the spotlight for the quality, sourcing, and price of the food on sale. But while the Ministry of Agriculture is increasing the maximum fines for some infringements, it looks like it is giving the stores a bit more time to improve their overal act.

Czech Airlines (CSA), the national carrier owned by Český Aeroholding, Korean Airlines, Travel Service (pending), and Česká pojištovna, has announced a new wave of layoffs in response to a drop in customer interest in flights to Ukraine, post-Soviet states and above all Russia.

Tax changes giving bigger tax breaks to Czech families with children look like costing more than the government budgeted for and the benefits look like overwhelming benefitting the reasonable off and rich rather than the poor.

In the telecoms sector, the Czech Republic has not looked like a model market as far as giving the customer a better deal. But there are signs that the squeeze is being put on some of the big operators on the market and they are being forced to make changes. T-Mobile has just wrapped up its latest step and its peers are likely to follow suit.

In this week’s Business News: major Prague development gets final clearance; PPF aims high with skyscraper investment; troubled waters seen for Karlovarské Minerální Vody; calls goes out to hash growers; and finance minister invests in infertility business.

Pivovary Lobkowicz, parent company to a number of Czech beer brewers including Platan, Lobkowicz and Černá Hora, has become the first such company to join the Prague Stock Exchange.