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In this week’s business news: Unemployment falls; Czech Banking Association releases bleaker economic outlook for 2013; more Czech companies are moving to tax havens; Moravia Steel receives large fine for collusion in Germany; Kofola is considering expanding into Balkans; and government debt decreases in Q2.

In Business News this week: Český aeroholding announced it made 1.8 billion in operating profit for last year; the Senate has approved legislation which would require large stores to remain closed during state holidays; billionaire buys major Czech publisher; fruit growers have reason to be happy, citing a 25 percent jump in fruit crops.

In Business News this week: Russia’s Rosneft signs deal to deliver crude oil to Czech Republic; political instability could delay announcement of Temelín tender winner; poll suggest only quarter of Czech businesspeople want euro; domestic banks “stable and resilient” says CNB; and truck-maker Avia to close Czech factory.

In Business News: a major investigation reaching into the upper echelons of government will not negatively impact markets say analysts; the Agriculture Ministry revises the damage figure to the sector from recent floods; the Czech Republic moves up seven notches on KPMG’s VAT list; Czech companies could provide amphibious vehicles for Libya, E15 reports; the TOP 100 association releases its list of top Czech exporters last year.

In Business News this week: flood damages estimated between 10 and 20 billion; insurers to pay over 7.5 billion in flood compensation; government to offer tax breaks to inundated businesses; Czech economy in deep recession while household spending up; and car sales down by 13 percent between January and May.

In this week's Business news: Central bank governor says the Czech Republic won't adopt the Euro before 2019; The OECD lowers the forecasted growth for the Czech GDP to -1.0 percent; The automomotive industry increased revenues by 7 percent last year; Google releases Business Photos in the Czech Republic; Bosch plans to hire 100 more engineers for its South Bohemian innovation center.

In Business News: the IMF has advised the Czech government against making further budget cuts in view of the country’s worse-than-expected economic development; Finance Minister Miroslav Kalousek has questioned the financial wisdom of expanding the Temelín nuclear power plant; Czech arms producer Česká zbrojovka has won a multi-million crown tender to supply 50,000 pistols to the Egyptian interior ministry and the Czech liqueur maker Rudolf Jelínek posted its first loss since 1998.

Business news: the Czech economy is in record-long recession, the government pledges to help farmers, ČEZ launches arbitration proceedings against Albania and Freedom Tax Day will come two days later this year.

In this week’s Business News: The grey economy in the Czech Republic is estimated to be 16% of the GDP; Average fuel prices have gone done for the fifth week in a row; The Czech energy company Enrgo-Pro has been fined by the Bulgarian anti-monopoly agency; Unemployment sees a small decline to 7.7% in April, due to more seasonal positions; A group of international solar energy investors have filed an arbitration suit against the Czech Republic; Czech and Poles want to oppose planned EU legislation curbing cigarette sales.

In Business News this week: European Commission says Czech Republic needs no further austerity this year; Czech central bank cuts growth forecast for this and next year; Finance Ministry launches monitor of public finances; Škoda considers plans to produce utility vans; six Czechs are ranked among dollar billionaires; and groundbreaking travel firm Student Agency eyes Prague’s taxi market.