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Squandering of public funds in ill-conceived investment projects has always been a big problem for Czech state administrations. Now the centre-left government is setting up a watchdog body which should assess the necessity for major investments and make sure that the money is spent according to plan.

Several restaurants in central Prague were among two dozen eateries fined last year for severe breaches of consumer legislation. The Czech Trade Inspection Authority found that nearly 40 percent of restaurants inspected broke the law; the most frequent problems include short measures of beer and other drinks, overcharging, as well as automatically including tips in bills without the guests’ knowledge.

Czech state owned power giant ČEZ’s move to scrap its tender for expanding the Temelín nuclear power plant has been in the rear view mirror for some time. The company is saying it’s an economic decision not a political one, but in fact it is a bit of both.

The annual budget ritual has started with a mean looking opening bid by the Ministry of Finance together with expected savings in spending. That bid will be fought over during the next months but the deciding factor will be how government revenues shape up.

Confirmation has come of top level talks between the Czech government and representatives of Polish oil refining and petro-chem giant PKN Orlen. The scenario that the Poles would like to plot does not take much fathoming.

A breakthrough in foreign sales for the Czech Republic’s biggest aviation company is again being promised. But after hopes being dashed so many times before, Aero Vodochody will have to wait until the final deal is done to be sure.

Czech industrial production is going from strength to strength and there are now clear signs that bosses are recruiting seriously to cover their ever expanding order books.

No longer the undisputed leader on the Czech commercial television market, TV Nova saw its revenues and profits drop sharply last year. But there are expectations both will rebound in spite of sharp cost cutting by the parent group.

The on-demand streaming technology that has caused a revolution in the American film and television industries has yet to catch on in a big way in the Czech Republic, with many viewers either sticking to traditional formats or downloading illegally from the internet.

A wave of good news about the Czech economy has resurrected the possibility that the country’s rating might be edged upwards and, as a result, the costs of servicing the country’s public debt could come down by several billion crowns.