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In Business News this week: the agriculture minister stops contracts worth a half billion crowns a study maps the role of foreign investors in domestic companies; truck manufacturer Tatra clinches an important contract in the Middle East; the national bank confirms a drop in the number of counterfeit banknotes and coins seized; a Czech insurance company maps how long it takes for an unattended bike to be stolen on the street.

In Business News this week: The finance ministry has released a more pessimistic economic forecast for this and next year; Reconstruction of the D1 highway has resumed after two weeks of delays; The mortgage market grew rapidly in the past half year; The European Commission has approved 400 million euros for railway revitalization in the Czech Republic; Energy giant ČEZ set to launch a new virtual mobile network.

In this week’s Business News: The minimum wage will rise in August; Food prices in 2012 grew by a larger margin than in any other EU country; Czech Airlines has withdrawn from its contract with the unions; Fuel prices around the Czech Republic have gone up again; Škoda has signed an almost 1 billion crown contract to deliver trams to Bratislava.

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.