E15 weekly 24. 10.
E15 weekly 24. 10.
http://www.floowie.com/cs/cti/e15w-2016-10-24/Monday, 24 October 2016
Issue 136 l newsstand price CZK 24/¤ 1 l www.e15.cz
Digital odysseys
Strap on your headset. Virtual,
or ‘augmented’, reality is
becoming widely accessible
TOP STORY pages 8–9
Škoda on the S-Bahn
Train and tram maker picking
up export speed in Germany,
Turkey and China
FACE TO FACE pages 10–11
9 771803 454314 0 0 1 3 6
Jan Stuchlík
The transaction will bring
an end to an ownership
structure which has seen
CEO Daniel Křetínský
and business partner Patrik Tkáč
each hold 37.17 percent of the
privately-held Energetický
a průmyslový holding (EPH)
and the rest held by small pri-
vate equity shareholders grou-
ped under Biques, an offshoot of
Czech-Slovak bank J&T Banka.
Křetínský’s stake will leap to 94
percent.
Tkáč will receive towards two
billion euros for his stake, but that
could rise by up to a further billion
euros, depending on coal, gas and
nuclear player EPH’s growth in
coming years, the holding said. The
passive Biques investors will receive
more than a billion euros. Under the
new structure, 41-year-old Křetínský –
also a co-owner of Czech Media Invest,
the publishing house behind E15 and CN
Invest – will be the dominant shareholder
while a selected group of his managers will
own six percent of EPH.
Continues on page 4
Entrepreneur Daniel Křetínský is taking
the majority ownership helm of largest
Central European energy group EPH.
Co-owners Patrik Tkáč and Biques
Ltd are departing in share deals
worth more than one
hundred billion crowns
facebook.com/
e15weekly
Electric dreams
94
percent
Photo profim
edia.cz
http://www.floowie.com/cs/cti/e15w-2016-10-24/HUMAN RIGHTS
Tomáš Stingl
He smiled, blew kisses
and joked about his
teeth. Tibetan spiritual
leader, the 14th Dalai Lama, in
the Czech Republic to speak at
the Forum 2000 conference –
a brainchild of the late Václav
Havel – went out of his way last
Mondaytomeet,greetandshare
his trademark humour with
aroundonethousandsupporters
assembled outside the Castle on
Hradčany Square. He cracked
a joke even after receiving from
the meeting organisers the tra-
ditional Czech welcome gift of
bread and salt, on a podium in
front of Salmovský Palace. “The
bread is rather hard but I want
to show you that my teeth are
just as hard,” the Dalai Lama,
who turned 81 in July, said while
trying to take a bite.
In his subsequent speech,
the leader of Tibetan Buddhi-
sm called for unity and conci-
liation around the world. “One
concept I greatly admire is that
of the European Union. I appre-
ciate the fact that nations that
used to quarrel with each other
for centuries made peace with
one another after World War
Two and joined forces,” the
Dalai Lama said, adding that
he would like to see the idea
replicated among South Ame-
rican and Asian nations. He
also called for the continued
upholding of the legacy of for-
mer Czechoslovak and Czech
President and personal friend
Václav Havel. “Even though he
is no longer with us physically,
it is necessary to continue pro-
moting his vision, even beyond
the borders of your country.”
The Dalai Lama reiterated
his standpoint that he was not
seeking independence for Tibet
from China but was instead stri-
ving to defend and ensure the
survival of the unique Tibetan
cultural heritage. According
to him, it is essential not only
for the six million Tibetans
but for the whole internatio-
nal community. “There are for
example 400 million Chinese
followers of Buddhism, with
many of them following Tibe-
tan Buddhism,” noted Tenzin
Gyatso, believed by the faithful
to be the 14th incarnation of
the Bodhisattva of Compassion
Avalokiteśvara.
The Dalai Lama was later
greeted by National Gallery
in Prague director Jiří Fajt.
Some speeches made during
the Hradčany Square occasi-
on aimed jibes at the current
Czech political scene. “Mr.
President Zeman, if you pre-
fer economic interests over
human rights you are bound
to lose your freedom,” said for
example Mikuláš Kroupa, di-
rector of Post Bellum, a nonpro-
fit that documents memories of
witnesses to momentous 20th
century events, during his po-
dium speech, fixing his gaze on
the Castle.
news
2/3
Dalai Lama: Cherish your EU
Tibetan spiritual leader attends Forum 2000 Conference
Photo: Anna Vacková
Pavel Otto
A part-victory has been scored
by former Central Bohemia go-
vernor and ex-health minister
David Rath. The Prague High
Court has surprised some ob-
servers by agreeing with an
appeal from Rath, a physician
in Prague suburb Hostivice. In
proceedings behind closed do-
ors, it cancelled a verdict in the
corruption affair that engulfed
Rath and several other people.
Nothing, however, suggests
that the high court did not re-
cognise key evidence against
the accused, namely dozens of
hours of police wiretaps and
the confession of entrepreneur
Ivana Salačová.
The case will now return
to the Prague Regional Court
for a fresh hearing. That gives
Rath and his co-defendants an
opportunity to convince the
court of their statements of
innocence – they claim the case
mounted against them was fab-
ricated and politically motiva-
ted. They also insist that it has
taken an inordinate amount of
time, even though they alone
have caused the delays.
Rath, previously one of the
most distinct Social Demo-
crat politicians, was arrested
in May 2012 with a box for
wine filled with banknotes.
Given the worries of investi-
gators that he would abscond
abroad, Rath was in November
detained. The Constitutional
Court later awarded Rath com-
pensation for this move.
The main trial lasted two
years. Rath\'s purported health
problems and the switching to
different lawyers by other de-
fendants, for example, caused
delays. The regional court in
July last year found Rath guilty
of receiving bribes and handed
down an appealable prison sen-
tence of eight and a half years
and an order of forfeiture on
20 million crowns worth of his
assets. In relation to the ma-
nipulation of commissions in
Central Bohemia, the former
governor accrued CZK 16m,
according to the indictment.
All very e-lluminating
Australian artist Amanda Parer’s giant glowing humanoid being and an annual fixture, the
monumental planetarium-like dome with its unique 360° projection of shapes and images, were
among the highlights at the fourth annual SIGNAL Festival of Lights in Prague. This year the largely
free-of-charge event presented 23 installations over four days. Another hit was rising waves that
appeared to be something between pavement and ocean (see photo) in the Jiřího z Poděbrad locality.
Festival goers were also mesmerised by videomapping with 3D glasses to enhance the experience,
at a church and two palatial buildings, while plants and trees were lit up in enthralling ways
Photo: ČTK
Rath wins fight for
another day in court
Biting through. The bread is rather hard but I want to show
you that my teeth are just as hard,” said Dalai Lama while trying
to take a bite of the traditional Czech welcome gift
http://www.floowie.com/cs/cti/e15w-2016-10-24/Pavel Otto
Regional prominence, quite
often local politicians, turned
out to be the most successful
candidates for the third of the
Senate’s seats that were up for
grabs in the election seats. Va-
rious people with big media pro-
files, on the other hand, failed to
impress voters.
The Christian Democrat Par-
ty [KDU-ČSL] was the runaway
winner, succeeding in nine of
the 27 election districts, with
a collection of purely party can-
didates and candidates put up in
coalitions with other partners.
The KDU-ČSL will now form
the second biggest Senate re-
presentation. The party has
already made it known that it
will attempt to secure the upper
house’s “second in command”
post, namely that of the first
deputy chair.
ANO chief mulls scrapping
Senate after poll meltdown
Road to nowhere
German green energy
subsidies are set to be
pushed up once again – to
6.8 euro cents per kilowatt-
hour. This despite Chancellor
Angela Merkel stating in 2011
that she wanted a freeze
at 3.5 cents. The German
Energiewende – meaning
the single-minded pursuit
of dominance for renewable
energy sources – will certainly
turn out to be a dead-end
policy and will likely bring
Germany some very negative
economic consequences.
For one, it is making
electricity more expensive
for homes and businesses,
thus reducing the latter’s
competitiveness. At the
same time, it is devastating
the energy market –
electricity prices on the
open market continue to
be at historic lows, but that
has not been reflected in
consumers’ bills. And while
nuclear power plants are
being decommissioned,
coal-powered electricity
plants are becoming the
only profitable traditional
energy source. Primarily
those fuelled by dirty brown
coal. Indeed, such stations
are becoming ever more
important to the maintenance
of a stable electricity grid.
And so, ironically, the
Energiewende programme
is actually polluting the very
environment it is supposed to
protect.
The other two parties in the
ruling government coalition
ended up as election losers. It
was the first time since its 2011
arrival on the political scene
that the ANO movement failed
to win an election. Within hours
of the contest’s result party le-
ader Andrej Babiš was sugges-
ting the upper house should be
abolished. He questioned its re-
levance, given the 15.4-percent
turnout at the polls. The ruling
coalition still has a 49-seat ma-
jority in the chamber.
ANO suffered something of
a second-round meltdown. The
movement led by entrepreneur
and finance minister Babiš came
out top in no less than 14 of the
27 ties in the first round of the
Senate election and held high
hopes for the second round
contests decided between the
two best performing round-one
candidates. As it turned out,
a mere three ANO candidates
were actually voted into the upp-
er chamber, far short of the 10
targeted by the party.
Sharing second place on
the election results roster with
ANO were the Mayors and In-
dependents [STAN], and the
Civic Democrats [ODS]. They
took three seats each. Ending
up with two seats apiece, were
the largest coalition partner, the
Social Democrats [ČSSD], right-
-leaning TOP 09 and Severočeši
[Northern Bohemians].
The Senate election’s first
round took place in parallel with
the regional election a week be-
fore the second, decisive round.
The regional election dealt the
first blow of the 2016 election se-
ason to ČSSD before it went on
to lose eight seats in the Senate.
However, with 25 senators, the
Social Democrats still have the
strongest Senate caucus.
Arsen Lazarevič’s notebook
KE KAŽDÉ AUDIOKNIŽNÍ NOVINCE
BONUSOVÝ TITUL ZDARMA
WWW.AUDIOKNIHYNAHLAS.CZ
... i audioknihy slaví svůj svátek
BONUSOVÉ TITULY
POUZE ON-LINE NA
AUDIOLIBRIX.CZ
POUZE ON-LINE NA
AUDIOLIBRIX.CZ
24.–30. ŘÍJNA
260716/19 inzerce
http://www.floowie.com/cs/cti/e15w-2016-10-24/business
4/5
EDUCATION
Adéla Čabanová
Unusually high interest
from parents is antici-
pated by firms which
offer pupils high school entran-
ce exam preparation courses.
Some 100,000 or so pupils will
next spring sit the newly com-
posed unified exams in Czech
and mathematics. That opens
a much wider market space
for the educational services
enterprises to offer across-
-the-board courses with mock
exams. The Zkoušky nanečisto
[Draft Exams] firm, which ope-
rates in Prague, is, for instance,
experiencing a year on year inc-
rease measured in the dozens of
percent when it comes to those
interested in taking such long-
-term courses.
“The state exams are cer-
tainly an additional factor,
but how strong that is I don’t
know. In the ninth grade [the
final grade prior to seconda-
ry education] those exams are
now also applied to those who
are not opting to go to a gym-
nasium [grammar school] but
have selected a school which
previously took pupils without
the entrance exam. So that is
definitely expanding the num-
ber of clients,” said Zkoušky
nanečisto founder Petr Husar.
The tests, for example, now co-
ver pupils which are set to go
to academies that specialise in
trades or industry.
The Tutor company has
this year stepped forward with
preparatory Czech and mathe-
matics courses. “The state ad-
mittance exams are bringing
about a uniform exam concept
and it is therefore also possible
to devise quality preparatory
courses,” said firm director
Martina Šmídová. To date, Tu-
tor has only offered one-to-one
courses. This year, it is count-
ing with 1,400 students booked
in for attendance courses and
additional students working
Exam shift adds up nicely for tutor firms
Unified high school admittance exams offer big market opportunity
Look who’s Next Door
Celebrity chef Zdeněk Pohlreich – famed for his television work in which he casts an invited, but
unforgiving, eye over the kitchens, cuisine and waiting staff of restaurants – is reshaping his
gastronomy business. While Pohlreich, who first learned to cook as a child under the guidance of his
grandmother, has closed his restaurant in Switzerland and sold Japanese eaterie Yamato in Prague’s
Vinohrady, he’s opened an entirely new venue in the centre of the capital. Immediately opposite his
Café Imperial in Zlatnická street is now the Next Door bistro. The restaurant is set in a quite recently
renovated historical building, most of which is taken up by the Cosmopolitan luxury hotel
Photo: Profimedia.cz
Continued from page 1
Part of the cash enabling the
big ownership consolidation
is arriving from an investor
fund group led by Austra-
lia-based Macquarie Infra-
structure and Real Assets.
The global investor has
agreed to acquire 30 per-
cent of the EP Infrastructure
(EPIF) unit, the EPH holdin-
g’s most valuable business.
It includes EPH\'s flagship
49-percent stake in Slovak
gas pipeline operator Eust-
ream, which delivers Russi-
an natural gas via Ukraine
to the EU and European gas
to Ukraine. From informati-
on put out by the holding, it
follows that the EPIF shares
have fetched more than
EUR 1.5bn.
Using capital from the
Macquarie payment, EPH
will buy back Biques’ 25.67
percent stake in the holding
and shares controlled by
Tkáč and Křetínský for EUR
1.5bn. The shares amount to
an aggregate 30 percent of
EPH share capital and will be
cancelled following the pur-
chase. Křetínský, meanwhile,
is buying 35 percent of Tkáč’s
37.17 percent in EPH. “For
myself personally as well as
for other partners in J&T,
this transaction represents
a partial monetisation of
gains from an extremely su-
ccessful project,” said Tkáč,
chair of the J&T Banka board
of directors. He added that
he particularly wanted to
invest in projects of former
J&T partners and Křetínský.
Křetínský commented:
“While I perceive the agre-
ement to be the right step
carried out at mutually at-
tractive conditions, it was
not a simple one for myself
personally. Patrik Tkáč is the
one who gave me the oppor-
tunity to do business and our
joint ownership of all assets
was the basic premise of my
activities. At the same time,
I have to stress, that this
transaction will have no im-
pact on our continuing joint
ownership of other assets.”
Read more at e15.cz/weekly
Electric dreams
Photo: Michael Tomeš
with online studies. Eighty le-
ssons covering maths and Czech
will cost parents CZK 7,000.
The price for just one subject,
with 40 lessons, is CZK 3,999.
The Scio firm has for a long
time provided preparatory
products aimed at pupils set
to take secondary school en-
trance exams. It particularly
dealt with exams organised by
the schools themselves. Now,
with the return to a centralised
system, it is dealing with the
tests set by the state’s Centre
for the Securing of Educational
Achievement [CERMAT]. “We
are expecting heightened inte-
rest in preparatory materials
and courses,” said Scio’s Jana
Kovaříková.
http://www.floowie.com/cs/cti/e15w-2016-10-24/Daniel Novák
Two-thirds of domestic banks
expect a higher volume of real
estate loans to feature in their
lending portfolio in the next
year to a year and a half. At the
same time the market is seeing
a year on year increase in the
number of banks willing to of-
fer credit tagged to an interest
rate of fewer than two percent.
Those are two conclusions of
research conducted for the
Property Lending Barometer
2016 produced by consultan-
cy KPMG. While noting the
pressure for cheaper loans,
the firm also drew attention
to how agreed repayment pe-
riods are lengthening.
“Extending the credit amor-
tisation period, or more preci-
sely reducing the proportions
seen in repayments of the prin-
cipal during the course of the
Banks to pump more capital
into property up and down
David Rath
Ex-health minister
The Prague High Court agreed a cancellation
on appeal of the guilty verdict in his corrup-
tion case. Another Prague Regional Court hea-
ring will now be scheduled for the physician.
Petr Hutla
Board member, ČSOB
The bank has been re-established as Česká
pošta’s [Czech Post’s] chosen partner for
the provision of financial services at its post
office outlets. It beat off 14 firms who were
hoping to nab the contract from the bank in
a tender.
Václav Řehoř
Board chair, Czech Airlines [ČSA]
The national carrier is riding a healthy up-
ward trend in air transport. In the first three
quarters of this year, it saw year on year
passenger growth of 14 percent.
lending, is one key demand of
investors,” said Pavel Kliment,
a partner at the Czech branch
of KPMG. Debtors often con-
sider a longer repayment pe-
riod as a higher priority than
pressure on interest margins,
he added.
Czechia boasts the most
advantageous conditions
for the financing of proper-
ty trades in Central Europe,
analysis carried out by another
consulting firm, BNP Paribas
Real Estate, has shown.
“The Czech market in
commercial property has
healthy fundamentals in all
segments in terms of the de-
mands of leaseholders, the in-
frastructure and the outlook
for economic growth, which
is well above average,” said
Lenka Šindelářová, head of
consulting at the Czech office
of BNP Paribas Real Estate.
KPMG added that 95 percent
of real estate loans awarded by
domestic banks were problem-
-free. Parallel situations are
seen, for instance, in Sweden,
Germany and Great Britain.
Despite that picture, the
banks’ hunt for clients has
prompted a first intervention
from the Czech central bank.
The regulator has ordered the
domestic branch of Moscow-
-headquartered Sberbank
not to close credit deals in
the financing of construction
investments and commercial
property. It claims the finan-
cial institution has not held to
regulations with sufficient pru-
dence, reported news server
iDnes.cz.
Generally it now applies
that Czech banks even venture
into giant transactions.
ReadmoreatE15.cz/weekly
Light!
27. – 31. 10. 16 Designblok
Prague Design and Fashion Week
www.designblok.cz
Lucie Koldová Designer
General Partner:
Designblok is supported by following institutions: Ministry of Regional Development of the Czech Republic, Ministry of Culture of the Czech Republic, EUNIC Cluster CR – European Union National Institutes for Culture, Netherlands Embassy
in Prague, Embassy of Sweden in Prague, Lithuanian Embassy in Prague, Embassy of Belgium – Delegation of Wallonia, Cervantes Institute in Prague, Polish Institute in Prague, Bulgarian Cultural Institute in Prague, Goethe Institute in Prague, Italian Cultural
Institute in Prague, Hungarian Cultural Institute in Prague, Embassy of Israel, Czech Centres, Prague 1 and Prague 7 City Districts, National Museum Official Suppliers: Excelent, KOMA Modular, Parfumerie Douglas, SIPRAL, Sonberk, Spyron,
TONI&GUY, Veuve Clicquot Diploma Selection / Czech Section support: T-Mobile Czech Republic Media Partners: Architect+, Art+Antiques, CZECHDESIGN, Design&Home, Dolce Vita, Dopravní podnik hl. m. Prahy, elle.cz, ERA21,
ELLE Decoration, Flash Art, H.O.M.i.E., Marianne Bydlení, Moje Psychologie, PLAKATOV.CZ, Radio1, SOFFA Foreign media partners: H.O.M.E., H.O.M.i.E., Atrium, Designum Acknowledgement: Hotel Jewel Prague, Metropol Hotel Praha,
Ambiance Hotel, Absolutum hotel, Acqua Panna, San Pellegrino
Partners:
adidas
Czech Republic – Land of Stories
Deloitte
Nespresso
Výstaviště Praha Holešovice
Main
Media Partners:
Main Partners:
Exclusive
Outdoor Partner:
General
Media Partner:
DB 16 E15 Weekly 225x148 ENGLISH_Sestava 1 26.9.16 23:50 Stránka 1
257591/18 inzerce
http://www.floowie.com/cs/cti/e15w-2016-10-24/The ANO par-
ty must now be
viewed as a stable
part of the Czech
political scene.
It’s perhaps not
quite an ordinary
party, but ANO is
no anomaly
The number of public se-
ctor employees in the
Czech Republic conti-
nues to grow. It’s up by 23,000
since 2012, to today’s total of
437,000. But that number is
far from a definitive count.
According to a 2014 Centre for
Economic Research and Gra-
duate Education (CERGE)
study, the actual total is esti-
mated at 935,000, meaning
around one-fifth of the coun-
try’s workforce. The economy
is doing well, which means that
government politicians have
plenty of resources available to
create new public sector jobs.
And then, it seems, they expect
such staff to remember who
hired them at the voting booth.
Which means they are using
taxpayer monies to essentially
buy votes, all the while boas-
ting about their job-creation
credentials. A nice trick.
Thisefforttoessentiallybuy
votes is also evident in compa-
rison with other countries. But
it would be unfair to merely
attribute this phenomenon
to the current government
and events since 2012. Even
in 2009 the Czech Republic
dominated in this practice.
According to a 2015 OECD
study called “Government at
a Glance”, Czech public sector
employment – recalculated to
account for only full-time work
– accounted for 35 percent of
overall employment levels. No
other OECD country attained
such a high share. In fact, even
Scandinavian countries had
a lower share, albeit Denmark
barely trails. Czechia has also
triumphed with regards to the
share of public sector employ-
ment in comparison with the
overall labour force. The latest
data are sadly not yet availa-
ble, but what is already clear
is that Czech public sector em-
ployment is one of the highest
among all economically deve-
loped nations.
Conversely, public debt me-
asured against the size of the
economy is one of the lowest
among developed nations.
And this year, the government
may even end up balancing the
budget.
Frustrations over the cor-
pulence of the Czech public
sector were highly evident
during this October’s Prague
Capital Market Summit confe-
rence. Business leaders, ban-
kers and economists demon-
strated a rare consensus over
this single issue: the size of the
state sector, and the regula-
tory framework which it has
created, are stifling the private
sector and killing investment
activities; the consequence
of this is the prevention of
increased productivity levels
and the stymied introduction
of innovative methodologies.
One experienced Czech ban-
ker in attendance even una-
shamedly used the phrase
“bureaucratic terror”. Czech
governments have apparently
been soaking up tens of thou-
sands of qualified staff to work
in the public sector. The result
has been labour shortages in
the private sector. In an expo-
nential effect, the new public
sector then unleashes fur-
ther “regulatory terror”. One
cannot help but agree. Sadly,
Parkinson’s law is merciless in
this regard [“Work expands so
as to fill the time available for
its completion” –Ed.]. Which
then leads to the question of
whether the current trend
of increased “terror” can be
reversed, or whether we may
one day end up seeing the
total collapse of the current
model of the social state. But
today’s politicians need not
concern themselves with such
a potential future. After all,
that scenario has nothing to
do with the all-important next
election.
The author is
chiefeconomist at Roklen
opinion
6/7
joke
Jana Havligerová’s diary
Don’t mention defeat!
Call the spinmeisters
ANO leader Andrej Babiš
says that this year’s record
low turnout (15.4 percent)
in the second round of the
Senate election serves as
a reason to discuss abo-
lishing Parliament’s upper
chamber. Of course that
has nothing to do with the
fact that only three of 14 of
ANO’s Senate candidates
emerged victorious.
The Social Democrats
are now engaged in soul-
-searching efforts after
a less-than-stellar electoral
performance. Outgoing
South Moravian governor
Michal Hašek will go back
to being a local councillor;
Senator Zdeněk Škromach
is bidding adieu to politics;
and philosopher Václav
Bělohradský, failed Social
Democrat and Green candi-
date for the Senate, is also
leaving politics. Now comes
the “what went wrong”
part...
Meanwhile, in a television
debate on potential post-
-election regional coaliti-
ons, the strongly Catholic
ANO MP Martin Komárek
praised God Himself and his
wife Petra. That may not be
enough to guarantee the
journalist-politician a major
political future. But it could
be enough for a house-
-husband post.
Civic Democrat chief Petr
Fiala has proclaimed that
his is now the hegemonic
party of the right-of-cent-
re. That after the “crushing
victory” of winning three
out of 27 Senate seats,
while losing five. Nothing
like optimism even in the
face of reality.
Photo: Profimedia.cz
“Take 2 capsules as needed for stress.
Put one in each ear whenever your boss starts talking“
Lukáš
Kovanda
Blooming
‘bureaucratic terror’
255869/117 inzerce
E15 weekly, economic and business news magazine | www.e15.cz
Igor Záruba, Executive Editor, igor.zaruba@cninvest.cz; Marian Hronek, Editor,
marian.hronek@cninvest.cz | Translation: TextMasters, textmasters@textmasters.cz
Contact: Adéla Nová, Secretary | Call (+420) 225 977 668
Postal address: Komunardů 1584/42, 170 00 Praha 7 | Published CN Invest a. s.,
Pařížská 130/26, 110 00 Praha 1 Josefov, IČ 04312945
Advertising: Šárka Kamarýtová, Sales Manager, sarka.kamarytova@cncenter.cz
Production: vyroba@cninvest.cz | Distribution: distribuce@cninvest.cz
Registration: E 21420 E15 weekly, ISSN 2464-711X
Reprints & Permissions: The Publisher will consider requests for reprints
or any other reproduction | Printed by EUROPRINT a. s. facebook.com/e15weekly
This effort to essentially
buy votes is also evident
in comparison with
other countries
http://www.floowie.com/cs/cti/e15w-2016-10-24/POLITICS
opinions
interviews
NEWS
markets
business
the eCONOMY
the only english
language business weekly
in the czech republic
http://www.floowie.com/cs/cti/e15w-2016-10-24/Photos: Jan Ignác Říha
Darek Šmíd
Perhaps the most unusual aspect of vir-
tual reality is the memories one creates.
When I think back over my experiences
in the virtual world, I don’t see com-
puter games, creative programmes or
graphic design. Rather, all I recall are
the kilometre-long space ships flying
above my head; and the glowing statue,
which I managed to chisel out with my
bare hands, flying through the air; and,
of course, the hoards of manic clowns
which I had to shoot down in one parti-
cular game. I still feel the echoes of my
trigger fingers.
Virtual reality is no longer just a sto-
rytelling device for movies along the
lines of Johnny Mnemonic (1995), The
Matrix (1999) and eXistenZ (1999). The
experience has become comparable
to leafing through the pages of a real
magazine. And right now, the world
has the largest number of virtual reality
participants it has ever had. This surge
is largely down to the top-of-the-line
PlayStation VR head-mounted display
from Sony, which offers the virtual re-
ality experience to anyone who owns
a PlayStation 4 games console, and is
willing to fork out CZK 10,000. Hither-
to, the VR experience was only availa-
ble to those able to invest far greater
sums into supercomputers and other
necessary hardware available from
companies such as HTC and Oculus.
But now all that is changing. Virtual
reality has become an easily accessible
form of entertainment. Welcome to the
future.
The ins and outs
Entertainment-based technology has
always sought to create an immersive
experience. Which is why the best ope-
ratic auditoriums are designed as dome-
-shaped semi-circles – the best possible
design to amplify sound waves so as to
reach everyone in the audience. And
that is why Pablo Picasso’s Guernica
1937 oil painting measures 3.5 metres
high and almost 8 metres across – so as
to enable the viewer to properly absorb
all the horrors of the depiction of war
(in this case the Spanish Civil War).
And that is why today zoos do their best
to offer visitors the chance to stand in
immersive enclosures, with monkeys
jumping over their heads, while costly
underwater aquarium tunnels enable
up-close encounters with stingrays and
the like.
Naturally, the greatest expenditu-
res on such immersive experiences
are spent by the film industry. Moving
a long way from the earliest stories of
viewers ducking an approaching on-
-screen train during the dawn of the
cinematic age, now viewers’ senses have
become far more attuned, and perha-
ps even numbed to sensory overload.
This author went to see the much-
-hyped 2009 CGI movie Avatar on an
IMAX screen, and barely blinked even
Goodbye, real
world...
Right now, virtual
reality has the
potential to
impact more people
around the world
than ever before. The
first “virtual paper
planes” are already
circumnavigating the
globe, and more such
digital odysseys are on
the way
8/9
top story
http://www.floowie.com/cs/cti/e15w-2016-10-24/Taken from the magazine
when alien panthers were jumping out
of the screen. The action levels keep
increasing, with almost every pixel of
the screen given over to dizzying mo-
tion. But do we take it all in? Or are we
switching off? 2D gives way to 3D, then
4D with the added sensual stimuli of
shaking seats.
The same as mono which then gave
way to stereo. After that came surround
sound. Then 5.1, 7.1. Now you can go
and see this year’s live action film Gods
of Egypt in a cinema with Dolby At-
mos, which whispers right into your
eardrums no matter where you sit.
Back to VR
Virtual reality is reaching levels of
accessibility and immersion as never
before. No matter what tech the cine-
ma offers, the experience is still one
of passively viewing a screen. You go
where the camera takes you. But with
virtual reality, the user is the master of
one’s own experience. With just a few
steps, one can stand, for example, at
the foot of Mount Everest, with a 360
panorama of the Himalayas. And when
you do return to the real world, your
brain has registered memories not of
a 2D film screen, but of a sensory expe-
rience as close to reality – hence virtual
reality – as can be.
Presently, different virtual reality
hardware devices look pretty similar.
You put on a headset and inside are two
independent screens – one for each eye
– as well as motion detection and other
equipment. The headset is strapped
around your head for the sake of stabi-
lity. And to make the immersion even
more real, there are stereo earphones.
The 3D trick is nothing new. Each
eye receives a slightly different pictu-
re and the brain does the processing
to turn that into a three-dimensional
image with height, width and depth.
Of course the images the eye receives
must be carefully designed to match
the angle of sight. And that means an
image not constrained by the edges of
a frame. And so with both optical and
auditory senses shifted into a virtual
world, the brain is deprived of a number
of key indicators that the world into
which one has stepped is actually not
real. And then the specific experience
begins. For example with the Oculus
Rift virtual reality headset, one might
start inside a large entrance hall. The
user turns their head in all directions
to examine the giant space. Outside
the structure’s windows, one notices
an urban landscape of alien-looking
skyscrapers. Wouldn’t this be a great
location for Czech Television’s politi-
cal reporter to film an episode of his
interview show (I can’t help but think)!
Not quite
But mobile virtual reality should not
be confused with the top-of-the-line
version. Samsung Gear VR, Google
Cardboard and the latest Daydream
View are considerably cheaper for con-
sumers because their displays utilise
simple mobile phone technology. Which
is why they can hardly be described
as offering a fully immersive form of
virtual reality. So whether you place
your phone in a Gear device, or the
decidedly low-tech-looking Cardboard
(which can literally be constructed out
of cardboard via an online instruction
manual) the experience is still restricted
by an unnatural sense of tunnel vision.
True virtual reality
True consumer-level virtual reality
hardware is today offered by a trio of
companies – Oculus Rift, HTC Vive and
PlayStationVRfromSony.AndasCzech
YouTube video blogger Fatty Pillow
might say: “That’s another universe!”
These three headsets are equipped
with immeasurably more advanced
technology than smartphone displays
can offer; no more tunnel vision – the
epic viewing angles fully encompass the
field of vision, enabling users to become
totally immersed in a virtual world. The
high-definition experience comes by
way of 2160 x 1200 pixels for the first
two and 1080p in Full HD mode in the
case of the Playstation. Each motion of
the user’s head is perfectly mirrored in
the on-screen virtual experience.
And technology is what had, until
recently, held back a truly immersive
and affordable virtual reality expe-
rience. The human brain can detect
a motion-to-picture delay of as little
as 50 milliseconds. Only recently has
hardware been able to close this gap.
Before, a user would move, but a lag
in the response time of the VR headset
tended to create disorientation and even
nausea. But now domestically accessi-
ble technology has caught up. And that
means that VR for all is finally becoming
a possibility.
The aforementioned trio of home
VR devices all feature supplementary
handsets to enhance the experience.
These bring the human hand into the
VR world, offering a plethora of inter-
active possibilities. This author tried
processing the VR experience. Sure
soaring through space in the shooting
game Eve: Valkyrie is an experience
from another world – albeit one that
will set you back CZK 50,000.
Furthermore, to the touch both Ocu-
lus and Vive felt more like ski glasses
with wires hanging out the side. But
PlayStation VR trailed a path frequent-
ly utilised by Apple: the tech may not
do everything, but what is does, it does
really well – and it looks sexy in the
process. PlayStation VR looks like some
kind of alien cap, and it shines too –
certainly very cool! It relies on both
the common Playstation controls as
well as motion sensors which look like
glowing ice-cream cones. Sony has had
these on the market for more than five
years. And it is all very user-friendly:
no need for a complex setting-up pro-
cess; no need for additional spending
on supercomputers – just hook it up to
a PlayStation 4. And today 40 million
users around the world already have
one of those.
What next?
But even this latest army of pioneers
is not claiming to have the final word
in the development of virtual reality.
So-called “augmented reality” is also
undergoing significant development,
as evidenced by this summer’s boom in
playing Pokémon Go on mobile phones
around the world. In such games, the re-
al-world environment is augmented by
computer-generated features. So now
instead of huddling behind the prover-
bial school shed to slack off, teenagers
are huddled together trying to hunt
Pikachu. Now that’s progress...
The future appears to point in the
direction of a blend of VR and augmen-
ted reality. US science fiction author
David Brin appeared to point the way
forward with his 2012 novel “Existen-
ce” – a multilayered, multi-channel VR
headset experience. One can imagine
a combination of games like Pokémon,
and more useful interactive educatio-
nal experiences, for example exploring
historical sites via VR. But many failed
projects along the road testify to the
uncertainty of future developments, for
example Google Glass, and HoloLens
from Microsoft. Both offered on on-
-screen augmentation of reality. Very
nice. But they flopped.
As humans, one form of entertain-
ment, or one form of reality, has never
seemed enough. That’s why we dream,
or go to the opera, study works of art, or
visit otherworldly enclosures at the zoo
which take us to the jungles of Papua
New Guinea. But never before have we
been able to construct as immersive an
experience as today’s virtual reality.
Step inside...
Test rabbit. Texas governor Greg
Abbott tries on an Oculus Rift device at
AMD‘s Austin offices
Save Gotham. City and become a comic
book hero in Batman Arkham VR
such a setup via HTC. When I lifted my
hands in front of my face, it reminded
me of when the hero from the Hellbla-
zer comic series once said: “I’ll never
have an experience like that again, even
if I live to 100!” I twisted my hands
around and then back again – and my
virtual hands precisely copied my mo-
ves. Virtual reality tricks our brain in
a way for which evolution provides an
exploitable loophole. Simply put – we
see, we move, we believe...
However, while the respective
launches of HTC Vive and Oculus Rift
created waves a few months back, since
then the proverbial sound of crickets
has returned. Which means that Play-
Station VR perhaps represents the last
viable chance for virtual reality to gain
mass market appeal.
The reasoning behind such an asser-
tion is simple: HTC Vive and Oculus
Rift were both highly expensive. Not
only did the basic hardware cost a fair
dime, but consumers also required very
strong computers capable of adequately
http://www.floowie.com/cs/cti/e15w-2016-10-24/10/11
face to face
Photos: E15 Michael Tomeš
TOMÁŠ IGNAČÁK
Rolling into Germany,
Turkey and China
Pilsen-based engineering group Škoda
Transportation does more and more
business abroad. While committed to its
ongoing conquest of Germany, the company is
also trying to make its mark in Israel and has
no qualms about collaborating with Chinese
businesses. “Our closed contracts just now are
for deliveries abroad,” says group CEO and
board chair Tomáš Ignačák
Jan Šindelář
A Škoda Transportation has walked
away as the victor from an arbitration
dispute with Czech Railways [ČD]. Has
the dispute not done you more harm
than good when it comes to your com-
pany’s image among your customers
and the public in general?
It certainly has. But that was not down
to the outcome of the arbitration, it was
all the fuss surrounding it. There have
been way too many half-truths and un-
substantiated claims. We are a company
that employs 5,500 people and sends
more than half of its production out of
the country, and a company that has
been investing billions in the develop-
ment of its products. Added to that we
are a company with a longstanding his-
tory. The campaign that did the rounds
in the media was quite defamatory while
we did in fact make every effort to avoid
the arbitration in the first place. And
even after the verdict was announced,
we were still trying to achieve a conci-
liatory solution.
You even threatened a lawsuit against
transport minister Dan Ťok over some
of the statements that appeared in
the media. Did you pursue that step?
http://www.floowie.com/cs/cti/e15w-2016-10-24/Our legal representatives conducted
a thorough analysis of the statements
and recommended suing the ministry
instead. According to the lawyers, ta-
king the ministry to court would stand
a better chance of success as opposed
to suing Mr. Ťok as a private person.
Having considered all the pros and
cons, we eventually decided to let it
pass. There was a good possibility that
such a lawsuit would by far exceed in
its duration the tenure of the incum-
bent minister. Plus there are many ge-
nuine experts working at the ministry
whose work we greatly appreciate and
whose circumstances we also took into
account when pondering potential legal
action.
Are you keeping an eye on new develo-
pments surrounding the disputed set
of locomotives and the possibility of
them operating in Germany? Or have
you left it all in the hands of ČD?
We fulfilled our end of the contract and
supplied the operating permits and their
equivalents for all the countries reques-
ted. When it comes to the actual operati-
on of the locos in any particular country,
well that is entirely up to the operator.
I would prefer not to comment any
further. Although the arbitration has
concluded, court action is still ongoing.
The biggest order Škoda has received
to date is one for the S-Bahn urban
and suburban railway in Nuremberg.
In that instance you are to supply
trains to National Express. Has that
business case made any progress?
That is truly a sizeable project, worth
almost 10 billion crowns. The order is
for a total of 39 five-carriage trains for
suburban service in the wider Nurem-
berg area. We succeeded in winning
the tender in early 2015 and National
Express confirmed our bid. Unfortu-
nately, Deutsche Bahn appealed to BEG
[Bayerische Eisenbahngesellschaft,
the Bavarian railway company wholly
owned by the Bavarian Government].
The current state of affairs in this case
is that an appellate court is to convene
in October and hopefully deliver a final
verdict. It is the final instance available
for an appeal.
When will the first train carry passen-
gers in Germany?
I would stop short of divulging a date.
We will do that together with Deutsche
Bahn. At any rate, there will be plenty of
opportunities to see the trains in motion
next year as they will undergo testing
on circuits in both the Czech Republic
and Germany.
Škoda Transportation has traditiona-
lly been perceived as a supplier for
whom Czech Railways is more or less
the sole customer despite attempts
to eliminate that perception. What
proportion of your business does ČD
account for?
I am unable to give you an exact number
right now but in general more than half
of our output is destined for abroad.
Our closed contracts just now are for
deliveries abroad. We have recently
signed a contract to supply trams to
Eskişehir in Turkey and we will do the
same for Riga in Estonia and Chemnitz
in Germany.
Is it your first contract to supply
trams to Germany?
Yes, it is a breakthrough, as it is our first
opportunity to get references for our
trams in Germany. Germany is a major
country when it comes to using trams
and as such it offers unprecedented po-
tential. We have also submitted our bids
ina numberofothertendersinGermany.
When it comes to doing business with
Western European countries, Czech
exporters often complain that despi-
te there officially being a single mar-
ket, open to all EU member states,
foreign manufacturers are often dis-
criminated against. Is that your expe-
rience as well?
I can certainly confirm it. There are
countries where we don’t bother try-
ing, such as France or Spain. It would
simply be a waste of time. Germany
also used to be quite self-protective
but it is getting better gradually as
shown by our success in Bavaria and
by the mentioned Chemnitz project.
Does it feel good to gain a foothold
in Siemens’ backyard?
We feel good about every new pro-
ject, such as the Eskişehir contract.
We have already delivered 70 trams
to Turkey and another 14 will follow.
Does the current political situation
in Turkey affect you?
It is not perceptible in any way in nego-
tiations. Of course, when it was right,
left and centre in the media we were
asking ourselves whether to submit
our bid at all. But we have not felt any
actual effects on business.
Web news server MotejlekSkocdo-
pole.com recently ran a story about
giant Chinese state-owned rolling
stock manufacturer CRRC expressing
an interest in Škoda Transportation,
initially in the form of a joint ventu-
re. Can you provide any details?
As I have already mentioned, we have
several projects in China and we gre-
atly appreciate our collaboration with
local companies abroad. Regarding
your question, I can give you a piece
of news hot off the press. At the end
of September, we submitted our bid
for electric units to be supplied to the
Israeli state railway operator. If we win
we will cooperate with CRRC Sifang
in seeing the project through.
Tomáš
Ignačák (47)
Graduated from the Faculty
of Electrical Engineering and
Communication of the Brno
University of Technology and
completed postgraduate studies
at the University of Toruń in
Poland. Began working at Pars
nova (previously Pars DMN
Šumperk) in 1993 and became its
CEO and chairman of the board
in 2000. In 2008, the company
became a subsidiary of Škoda
Transportation. In 2012, Ignačák
became a Škoda Transportation
shareholder as well as vice-
president for sales. Three years
later, ascended to the position of
group CEO.
We’ve just submitted our bid for
electric units to be supplied to
the Israeli state railway operator.
If we win we will see the project
through with CRRC Sifang
http://www.floowie.com/cs/cti/e15w-2016-10-24/12/13
special report
Moravian Tuscany
The countryside around the southeastern Moravian town of Hodonín, and in the
environs of the nearby village of Šardice, is filled with expanses of wheat and corn
fields. And the rolling landscapes are tinged with shades of yellow, green and brown.
The area lures photographers from as far as South Korea and Japan. And its similarity to
the Italian countryside has led to the nickname “Moravian Tuscany”
Photos: Ludmila Korešová
http://www.floowie.com/cs/cti/e15w-2016-10-24/Věra Sychrová
Asides from Tuscany and the Palouse
grassland region of the northwestern
US, no other place on earth is said to
have similar characteristics to Mora-
vian Tuscany. However, the “natural”
beauty here is actually manmade – and
there was once a decidedly unnatural
and deadly consequence. “The defo-
rested land filled with rolling fields of
corn, wheat and sunflowers, is perfect-
ly predisposed to causing floods, as the
rainfall flows down instead of being
absorbed. It erodes earth, bringing
mud down into the valley,” cautions
our local guide Miroslav Gregorovič.
Back in the summer of 1970, Grego-
rovič experienced with his own eyes
the consequences of such agricultural
practices. He was working at the near-
by Dukla coal mine. Strong rainfall
caused quiet streams (the Kyjovka and
Trkmanka) to transform into gushing
rivers. “The torrents washed away
everything in their path. The chief
engineer and I went to check out the
state of the mineshafts. But en route
we were swept up by a huge wave of
water, which lifted us and our van right
into the air,” recalls Gregorovič.
The flash floods tore off a layer of
topsoil and began to flow into the lig-
nite mines. Light sands were transfor-
med into sodden ground, the waters
flooding 32 kilometres of tunnels. The
tragedy led to the deaths of 34 miners.
Craters up to 60 metres across for-
med in a number of places. “Had I not
switched shifts, I would be among the
dead,” says Gregorovič.
“We were all hoping that some
miners might be saved inside an air
pocket. Their wives and children wai-
ted eagerly for a week at the mine-
shaft entrance, hoping and praying.
But no survivors were found.” It took
three years to clear up the mess left
by this tragedy, at an estimated cost
of CK 66m. Mining was permanently
halted at the site in 1992, while the
underground tunnels were razed the
following year.
Later, as mayor of Šardice, Grego-
rovič tried his best to make sure such
a tragedy could never happen again.
Lakes were dug to capture flood wa-
ters; trees were planted. “We began
working on reducing wind erosion and
also bringing back former animal and
plant life. We created bio-corridors
for wildlife, which can now migrate
without obstruction,” says the former
mayor.
Taken from the magazine
Author’s tip
Spring is the best time to take
photographs of the colourful
landscape in Moravian Tuscany.
From the end of April to early
May, yellow rapeseed dominates.
By autumn, the land may be
bare, but in the right weather
conditions, fog creates a surreal
scene as it creeps across the
hilly landscape.
http://www.floowie.com/cs/cti/e15w-2016-10-24/prague rambler
14/15
7even
terrific tips
Text Viola Černodrinská
Illustrations Tereza Kovandová
That’s the spirit!
Keplerova 6, Prague 1
A stone’s throw from Prague
Castle, the Savoy hotel’s
Hradčany restaurant is
introducing game to its menu
complete with tastings of
Scotch and Bourbon.
Vegetable
originals...
17 to 21 Oct, Betlémské
square /1 Liliová street,
Prague 1
Restaurant V Zátiší has joi-
ned forces with the Save
Food [Zachraň jídlo] initi-
ative. On its October menu
it includes dishes made
with imperfectly shaped
vegetables. Usually, they
would be ploughed back
into the soil. Look forward
to a special autumn
pumpkin menu.
Beauty derived from nature
12 Nov, Prague Gallery Laufen,
5 I. P. Pavlova square, Prague 2
If purely natural cosmetics is your thing then Green
Beauty Market is your event. You will be able to attend
lectures and take part in discussions held throughout
the day on a range of topics such as healthy hair dyes,
the testing of cosmetic products on animals and the
certification of natural cosmetic products. Entry is free
following registration at www.praguegallery.cz
‘The Customs Officer’ in Prague
15 Sept to 15 Jan, Palác Kinských,
12 Old Town Square, Prague 1
The National Gallery in Prague holds the first ever Czech
Republic exhibition of works by Henri Rousseau, one
of the most prominent artists at the turn of the 20th
century. The value of works by this painter – nicknamed
the “customs officer”, or “Le Douanier”, by friends and
as the “Sunday painter” by detractors – was recognised
over time. Well-known works by Rousseau include his
jungle scenes, created despite him never having set foot
outside of France. The exhibition is supplemented with
works by Czech artists influenced by Rousseau, such as
Otto Gutfreund, Jan Zrzavý or Toyen.
Dressed in autumn
Chodov Shopping Mall, Prague 4
MAX & Co., an Italian fashion brand
offering traditional women’s elegance,
lately opened its first boutique in Pra-
gue. Its autumn collection rides a wave
of intriguing textures and prints in earth,
golden and sapphire tones enlivened by
floral patterns.
Pop-up coffee
Chodov Shopping Mall, Prague 4
Nespresso has opened its latest Nespresso
Boutique. And it has just about everything:
a tasting area where you can try any and all of
the 24 variations of Grands Crus coffee, as well
as a recycling zone for handing in empty capsu-
les. Did we say that they serve coffee too?
Loyalty pays
A new loyalty program, PFB, was
launched in September, allowing
members to buy products by
brands such as GEOX, Armani
Jeans, Beltissimo, Versace Jeans,
Weekend Max Mara, Marina
Yachting and other names with
discounts of up to 15 percent.
There are 21 shops located
around Prague alone where you
will be made welcome with the
PFB card in hand.
http://www.floowie.com/cs/cti/e15w-2016-10-24/society
Nimble Provident volunteers kept on toes
at old folks’ home
A new straw nativity scene will feature during the Christmas season at the
Břevnice Home for Seniors, near Havlíčkův Brod in Vysočina region. It was
woven by volunteers from personal finance company Provident Financial, 23 of
whom – drawn from the firm’s personnel department – arrived at the home to
help the residents with all manner of tasks. These included autumnal activities
required in the residence and its gardens. Windows were washed, garden sheds
were painted, fences were fixed and sheep were chased. The latter activity was
necessary to transfer the flock from grasslands to an insulated pen for winter
Photo: Ahold Czech Republic
Photo: Provident Financial
Interns test savvy in real projects at Albert
supermarkets firm
Talented higher education students were invited to take part in Ahold’s
ninth Summer Internship program undertaken at the headquarters of the
international retail company. Ahold, which operates Albert supermarkets
in the Czech Republic, gave the interns the opportunity to expand their
knowledge and gain precious work experience during the summer months. Five
selected students worked on actual projects together with managers from the
departments of finance, communication and PR
advertising
257504/81
You can subscribe
securely via e-mail
Use the e-mail address
weekly@predplatne.cz,
State your name and delivery
address. Use the code WEEK 1116
as the message subject
You can also subscribe
online at our website
www.predplatne.cz
To subscribe on
a toll-free number,
call 800 248 248
Simply call to provide your
personal details and cite the
code WEEK 1116
Full-year subscription:
CZK 650 and as a gift
you will receive a voucher
worth CZK 1 000
The shopping
voucher can be used
for the product
offers on Friendly
Suits website
www.friendlysuits.cz
until 30 June 2017.
Get your subscription!
Monday, 24 October 2016
Issue 136l newsstand price CZK 24/¤ 1l www.e15.cz
Digital odysseys
Strap on your headset. Virtual,
or ‘augmented’, reality is
becoming widely accessible
TOP STORY pages 8–9
Škoda on the S-Bahn
Train and tram maker picking
up export speed in Germany,
Turkey and China
FACE TO FACE pages 10–11
9 771803 454314 0 0 1 3 6
Jan Stuchlík
The transaction will bring
an end to an ownership
structure which has seen
CEO Daniel Křetínský
and business partner Patrik Tkáč
each hold 37.17 percent of the
privately-held Energetický
a průmyslový holding (EPH)
and the rest held by small pri-
vate equity shareholders grou-
ped under Biques, an offshoot of
Czech-Slovak bank J&T Banka.
Křetínský’s stake will leap to 94
percent.
Tkáč will receive towards two
billion euros for his stake, but that
could rise by up to a further billion
euros, depending on coal, gas and
nuclear player EPH’s growth in
coming years, the holding said. The
passive Biques investors will receive
more than a billion euros. Under the
new structure, 41-year-old Křetínský –
also a co-owner of Czech Media Invest,
the publishing house behind E15 and CN
Invest – will be the dominant shareholder
while a selected group of his managers will
own six percent of EPH.
Continues on page 4
Entrepreneur Daniel Křetínský is taking
the majority ownership helm of largest
Central European energy group EPH.
Co-owners Patrik Tkáč and Biques
Ltd are departing in share deals
worth more than one
hundred billion crowns
facebook.com/
e15weekly
Electric dreams
94
percent
Photo
profmedia.cz
EW16102401A1.indd 1
21.10.2016 10:07:13
This subscription offer is valid
until 27 November 2016
This offer is available to new subscribers only and applies while stocks last. The publisher reserves the right to provide a substitute gift if stocks are exhausted. The offer is only valid for subscriptions taken out with a delivery address in the Czech Republic. Gifts are ordinarily dispatched within
six weeks of the receipt of the subscription payment. By placing an order, the subscriber expresses their agreement with the General Terms and Conditions for a periodical press delivery according to the subscription as published at www.cninvest.cz and undertakes to act in accordance with
these General Terms and Conditions. By placing an order, the subscriber also expresses their consent to the storage of personal data submitted with the order (hereinafter “data”) in a database administered by CN Invest a. s., with its head office at Pařížská 130/26, 110 00, Prague 1-Josefov.
This consent extends to the use of such data to provide subscription services and to the subsequent processing of the data for the purposes of offering products and services by CN Invest a.s. and/or third parties, including the forwarding of information regarding events and other activities,
the use of such data for analytical purposes and/or the forwarding of commercial messages by means of electronic communication in accordance with provisions of Act No. 480/2004 of the Czech legislative code. This consent is provided for an indefinite period, i.e. until revoked in writing
either in a letter delivered to the publisher’s address at CN Invest a.s., Subscription Department/ Oddělení Předplatného, Komunardů 1584/42, 170 00, Prague 7, or via electronic mail delivered to predplatne@cncenter.cz. The subscriber also consents to the processing of their data by third
parties authorised for the purpose by the publisher as the administrator of subscribers’ data. The subscriber acknowledges their rights as per Sections 11 and 21 of Act No. 101/2000 of the Czech legislative code, i.e. that the provision of the data is voluntary, that the consent to the storage,
processing and use of the data may be revoked at any time free of charge at the publisher’s address, and that the subscriber has the right to access the data, request the correction of data entries, have incorrect personal data blocked, have data destroyed, etc.
http://www.floowie.com/cs/cti/e15w-2016-10-24/16
diversions
Hockney turns the page with oversized tome
A Frankfurt Book Fair highlight was 79-year-old British artist David Hockney’s presentation of a Sumo-sized large-format monograph, A Bigger Book, a 500-page,
career retrospective of his work published by Taschen. It is limited to 10,000 signed copies, 9,000 of which are Collector’s Edition books which, priced at EUR 2,000,
come complete with a designer easel. Yorkshireman Hockney, praised for his openness to new media, helped introduce the fair’s THE ARTS+ program, dedicated to
creative and cultural industries fuelled by 3D, artificial intelligence, virtual reality, augmented reality, and other trends
invitations
picture of the week
Photos: Archive
Photo: Reuters
DANCE PRODUCTION
Walls & Handbags,
La Fabrika, Prague
There’s a wall. It tests
our courage and lets our
imagination run riot. Then
there’s baggage, full of long lost
childhood wishes. A boy and
five men try to revive boyhood
fantasies found behind the
wall… A Losers Cirque Company
production. 24 October.
GIG
The Cat Empire,
Lucerna
The genre-bending Australian
outfit, known for a chaotic and
fiercely uplifting live show,
are difficult to describe and
impossible to categorise. Their
25 October show at the Prague
venue partly draws from new
album Rising With The Sun.
DJ PARTY
BE24: Seth
Troxle
Michigan native DJ Troxler is
billed as awesomely larger
than life. A modern Merry
Prankster, he’s spun a sunrise
set for a happily debauched
Robot Heart party and lifted an
Ibiza crowd with a lysergically
spiked Prince-inspired track.
Roxy. Prague. 27 October.
CINEMA
American Honey
(2016)
Star, a teenage girl with
nothing to lose, joins a band of
misfits in a travelling magazine
sales crew. A whirlwind of hard
partying, law bending and
young love follow as they criss-
-cross the Midwest. Various
cinemas.
TRIP TIP
Konopište
chateau
Renowned as the last residence
of Austria’s assassinated
Archduke Franz Ferdinand
(the bullet that killed him is on
show), this converted-Baroque
chateau is located in Benešov
50 km from Prague. See the
rich Rococo banquet hall and
Late Gothic art in the chapel.
About us. E15 Weekly is one of a group of business and economics-oriented publications printed by CN Invest a. s. It is a sister title to the E15 daily. Both
periodicals, as well as a number of others, came under new ownership in the spring of 2016 when part of a portfolio formerly published by Mladá fronta a. s.
was acquired. CN Invest a. s. publishes a broad range of print and online titles. In addition to other business-minded titles, the company also publishes lifestyle
and women’s magazines (Maminka, Dieta, Moje psychologie) and children’s titles (Mateřídouška, Sluníčko). The publishing house also enjoys a considerable
presence in the segment of technical and men’s online titles. CN Invest, and its sister company CZECH NEWS CENTER a. s. (the biggest publishing house in the
Czech Republic, with titles such as Blesk, Reflex, Svět motorů, ABC), are members of the media concern CZECH MEDIA INVEST a. s.
http://www.floowie.com/cs/cti/e15w-2016-10-24/