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Mixed signals have been sent by the West to Russia and Ukraine during the recent crisis and no more so over trade and business relations. Strangely enough, crucial Czech state support for trade with Russia is being maintained but that to Ukraine remains on hold.

Family firms have a strong tradition but troubled history with many falling victim to the tides of twentieth century Czech history. A new wave of firms have been created but many of them will soon be facing the big question of how to deal with the handover to the next generation.

A conference in Prague this week reviewed the exit possibilities from the current energy crisis in Europe. The conclusions were not very positive with major power companies now staring at a scenario where they are undermined by ever increasing amounts of renewable power on one hand and undercut by state payments in some countries to keep costlier power plants on standby.

Czech defense companies are looking at an upturn in business after a period of flat demand. And Tatra Trucks is one company that has survived difficult times and is now looking ahead to meeting orders won in part thanks to its flexibility in sharing some of the workload with the customer.

Whatever happens in Ukraine, the Czech Republic has sufficient natural gas reserves. That is the message from local gas suppliers, which say the country has enough natural gas to fuel households and businesses for several months.

Following persistent complaints regarding the length of time it takes for foreign investors to bring highly qualified staff to run their businesses in the Czech Republic, Czech authorities have finally moved to ease the allocation of work permits for non-EU workers in foreign companies with over 250 employees.

Basel III rules aimed at encouraging banks to steer clear of bad risks and making sure they have the wherewithal to cope if they hit a financial crisis are already partially in place. But the impact on sensitive countries such as the Czech Republic is still not totally clear.

Vietnam is one of the main Czech targets for boosting exports outside of Europe. And while current trade flows are overwhelming in favour of the South-East Asian country, Czech companies are hoping for a lot more by filling in some of the many gaps in industrial know-how and equipment and the country’s basic infrastructure.

Representatives of the Ústí region have signed off on a land deal crucial to persuading South Korean based global tyre manufacturer Nexen to set up a new plant in the Czech Republic. Formalities still need to be completed, but what could turn out to be the biggest ever foreign investment in a new plant is already being described as a done deal.

The fiscal pact is one of the talismans of the coalition government’s new pro-European stance. But it’s not a done deal that it will get the votes needed in parliament to go through and former finance minister Miroslav Kalousek has just signaled that TOP 09 votes in support will not be coming cheap.