12 – 15 CANADIAN & CZECH BUSINESS NEWS - The Canadian ...


12 – 15 CANADIAN & CZECH BUSINESS NEWS - The Canadian ...

WE CELEBRATE 110 YEARS OF INNOVATION.It all started in Montreal in 1895, with the development of Canada’s first telephonesystem. We are proud of our heritage of developing the world’s most secure, reliable,and innovative networks. Today, we celebrate 110 years of business and look to the future.This is the way. This is Nortel, Nortel, the Nortel logo, and the Globemark are trademarks of Nortel Networks.

MEMBER NEWSIvan Jukl has replacedJitka Hanzlíčková asCEO of CzechTrade asof March 15, 2006.Mr. Jukl is agraduate of theFaculty of ElectricalEngineering at theCzech TechnicalUniversity in Prague; he also studiedmanagement in Denmark and at apost graduate training center in Japan.From 1998 to 2000 he held managerialpositions in the areas of foreign tradeand international relations in EZ Prahaand Eltodo. Thereafter, he spent fiveyears as Commercial Counsellor of theCzech Embassy in Copenhagen beforebeing appointed to his present position.At CzechTrade, Mr. Jukl sees hispriority in a growth of the numberof the agency’s successful clients. To thisend, while drawing on CzechTrade’sprevious accomplishments, he intendsto work on a new medium-term strategyinspired by the best internationalexperience. Expansion of CzechTrade’sservices is also on his to-do list.are pleased to welcome Mr. JuklWe to the Chamber and deem it anhonour that he has agreed to take hispredecessor’s place on the Chamber’sAdministrative Board.•••Radomír Lašák hasbeen named thenew President of ČSA(Czech Airlines) witheffect from January19, 2006. RadomírLašák (40), a Czechtop manager, has takenthis opportunity as achallenge to transform ČSA into a strong,efficiently operating and profitablecompany. With respect to that, he bringsin his broad experience in the applicationof important transformation andrestructuring processes.At the beginning of 2000, he wasa member of the crisis team thataccomplished the privatization ofKomerční banka within 18 months.As the head of Ebanka from 2002 to2004, he succeeded in transforming thisoriginally e-banking institution into astandard banking establishment. Forthe past 15 months, Radomír Lašák hasbeen a member of the Board of Directorsat ČEZ. Together with his team, he hascreated and implemented the new HRstrategy and a management project forthe entire ČEZ group.Radomír Lašák graduated from theUniversity of Economics in Pragueand received his MBA degree from thePrague International Business School.He is married and has two children.On March 1, 2006Dr. Jutta Walterassumed her newposition in CommerzbankAktiengesellschaft,Prague Branch, joiningGünter Steiner as codirectorof the branchwhich also maintainsoffices in Brno and Ostrava.Walter has been withDr. Commerzbank since 1990 and hashad many years of experience workingwith mid-sized corporate banking clients.Between 1999 and 2001, Dr. Walterworked closely with Commerzbank’ssubsidiary bank in Poland, BRE-Bank,where she obtained valuable insight intoCentral and Eastern Europe.•••Bob Demare hasrecently movedto a new position asTraining Manager forDHL IT Services. Inhis new role, Bob willbe giving leadershipto global traininginitiatives for the ITservices division of DHL. For the pastthree years, Bob has been working as aco-director of the Prague-based trainingdevelopment company, CoachingSystems s.r.o., a corporate member of theCanadian Chamber of Commerce. Bobwill continue his involvement with theChamber as a board member.•••FransHoekman(born 1963), a Dutchnational, has joinedHudson as a GeneralManager for the Centraland Eastern Europeanregion. He is actuallyreturning to Praguewhere he stayed for tenyears from 1992 to 2002 as a founderand director of Agency Start Praha, laterbought by Robert Half International.The challenge he faces now is to expandthe Hudson business in the region inrecruitment servicesand executive searchas well as professionalHR consultancy,such as assessments,management auditsand staff developmentprograms. Frans ismarried and proudfather of four.Attila Papai, a nativeHungarian, wasappointed GeneralManager of MoveOne Relocations’Prague branch officein December 2005.Previously, he workedfor the Budapest-basedheadquarters of Move One Relocationsas business development managerfrom January 2004; in this capacity hewas responsible for sales and qualityof service in 27 countries where MoveOne Relocations has branch officesproviding household goods moving andfull relocation services. The positioninvolved extensive travel, with a view toensuring that the quality of moving andrelocation services in all branch officesmet the company standards upheld bythe Budapest headquarters where MoveOne has been in business since 1992.Attila appreciates the fact that his currentposition allows him to spend more timein Prague because, in his own words,“Prague is a great place to live”.•••Roman Ray Straub(39), GeneralManager of DiplomatHotel****Prague,andel´s Hotel Prague,andel´s Suites andangelo Hotel Prague,was appointed asa new member ofthe Management Board of ViennaInternational Hotels effective January1st, 2006. He is responsible for thearea of Sales and Marketing of ViennaInternational Hotels while continuing toact as General Manager of all the abovementioned hotels.Roman Ray Straub joined ViennaInternational Hotels in 2000 asGeneral Manager of andel’s HotelPrague. In 2004, Diplomat Hotel****Prague and andel´s Suites and in 2006angelo Hotel Prague were added to hisportfolio.January – April GoCanada 1/2006 7

CANADA’S 50 BEST – A MEMBER’S SUCCESS STORYAdastra Corporation, originally a Czechconsultancy and software companythat has successfully expanded ontothe markets of North America, has nowbecome one of Canada’s 50 Best ManagedCompanies.“For Adastra as a privately owned Czech-Canadian company, this award representsa huge success,” says Jan Mrázek, PhD.,President and Managing Director ofAdastra Corporation in Canada. He fullyagrees with the words of John Hughes,Deloitte Partner and National Leader ofthe Best Managed program, that “goodcompanies do all the right things to ensureprofits. However, in the case of winningcompanies profit is simply the consequenceof doing everything right. They can’timagine doing things differently – andthat’s the main difference”.Launched in 1993, Canada’s 50 BestManaged Companies is a uniqueprogram that recognizes Canadianownedand managed companies that havesuccessfully faced challenges to grow andprosper, and are operating at the highestlevels of business performance. Everyyear, hundreds of companies competefor this designation in a rigorous andindependent process that evaluates thecaliber of their management abilitiesand practices. An independent panelof judges selects the final 50 recipients,based on their performance in the areasof Strategy, Capability, Commitment, andFinance. The Best Managed designationtruly symbolizes corporate success:companies focused on their core vision,creating stakeholder value and excellingin the global economy. The program issponsored by Deloitte, CIBC CommercialBanking, National Post, and Queen’sSchool of Business.“Through the 2005 Best Managedwinners, we see a new level of confidenceamong Canadian businesses. There is arecognition that companies will inevitablygrow to dominate industries across theglobe, and Canada is no longer willingto sit back and wait for the U.S., Asiaor Europe to lead the way,” commentedJohn Hughes. From among the varietyof growth strategies pursued by the 2005winners that include acquisitions, strategicalliances, as well as product and serviceinnovation, international expansion isclearly at the forefront.What it takes to be the bestWhat does it take to be the best? Detailedanalysis of this year’s Best Managedwinners reveals 10 common attributes that2005 Best Managed winners share to helpcreate sustained growth:1. Preserve the founder’s original corevision, values and philosophies. BestManaged winners maintain a sense of‚family culture‘ throughout the growthprocess.2. Act strategically. Owners of BestManaged companies are highlystrategic and hire strong managementteams to run business operations sothey can focus on strategy.3. Focus on core competencies. BestManaged companies leverage andimprove core competencies, rather thandeveloping new ones.4. Put the customer first. Exceptionalcustomer relationships are key to a BestManaged company’s success and afoundation for solid growth.5. Measure what counts. Best Managedcompanies use financial and qualitativemetrics to measure success to ensure allemployees work towards common goals.6. Foster a culture of team work.Employees across all functions inBest Managed companies collaborateeffectively - a competitive advantagewhen speed to market is key.7. Hire the right people. Best Managedcompanies spend a lot of time andmoney hiring the right people that havea complimentary skill set and fit theteam and corporate culture8. Set challenging goals. Best Managedcompanies set challenging, yetachievable goals to stimulate andengage their employees to achievepersonal and corporate goals.9. Reward employees. Best Managedcompanies show they value theiremployees with flexible and uniquecompensation packages, includingmonetary and non-monetarycompensation.10. Give back to the community.Best Managed companies careabout their communities and areactive and generous with both theirtime and money.For more information, visitwww.canadas50best.comADASTRA – A COMPANY AIMING AT THE STARSAdastra was established in the CzechRepublic eleven years ago andopened its Canadian office (now thecompany headquarters) in Toronto in2000. The company provides specializedconsultancy and software solutions andservices, especially in the fields of DataWarehousing, Business Intelligence, DataMining and Data Integration. In recentyears, the scope of its activities has beenfurther expanded so that it now embracesa wide range of competencies in the fieldsof Outsourcing, Application Developmentand Quality Assurance.Adastra currently employs more than350 people worldwide. Its totalrevenues for the year 2005 amountedto 541 million CZK, which representsa 40% increase over 2004. In terms ofvalue added services, the core businessactivity at Adastra, the company increasedits earnings by 45% to 533 million CZK.Adastra’s services generate 98% ofthe company’s overall revenues. Thecompany’s foreign operations (mainly inCanada and Germany) account for 26% ofoverall earnings.In 2005, in addition to continueddevelopment of its core activities,Adastra also placed major emphasis onproduct development and succeeded indeveloping its own specialized softwaresolutions, such as Adastra Purity.360– a solution for consolidating andcleaning client data; Adastra Anti-MoneyLaundering System; Adastra FraudManagement System or a solution formanaging and evaluating marketingcampaigns.Celebrating in TorontoOn February 6, 2006, AdastraCorporation and its key customerswere invited to attend the exclusiveCanada’s 50 Best Managed CompaniesGala. Held at the luxurious WestinHarbour Castle in downtown Toronto,companies from across the country gatheredto tell their stories of world-class triumphand to celebrate home-grown excellence.Each of the winning companies in 2005was spotlighted as the parade of winningCEOs took centre stage to accept theiraward from a sponsor representative. Dr.Jan Mrázek, President of AdastraCorporation, received the award on behalfof Adastra. Rounds of applause andoften cheers accompanied each of the 50presentations. The black-tie gala was hostedby Canadian comedian and entertainerRick Mercer, of “Rick Mercer Report” fame(see http://www.cbc.ca/mercerreport/), whocharmed the crowd of 1,200.Compiled from the 2005 Best Managed WinnersNational Release of February 3, 2006, Adastra’sPress Releases and a report by Cynthia Wong,Marketing Director, Adastra Corporation, Canada8GoCanada 1/2006January – April

NEWS FROM THE CANADIAN EMBASSY TRADE SECTIONWe would like to share with the readersof the GoCanada Magazine a fewhighlights of our recent activities.The International Renewable EnergyExhibition and Conference was held inWells, Austria, on March 1-3, 2006. Itfeatured new environmental technologiesand speakers from all over the world,including Canada. Trade Commissionersfrom the Embassy in Prague and fromour Bratislava Office participated andbrought back a deeper understanding ofthis rapidly evolving sector. Canadiantechnologies have opportunities in theregion in biomass usage, small hydroplants and sun and photovoltaic power.The Commercial Counsellor participatedin an Outreach Program in Canada with hercounterparts from Canadian Embassiesin Central Europe, from March 6 to 10,2006. Together they presented informationon opportunities in the Czech Republic,Slovakia, Hungary and Poland to businessaudiences in Ontario (Windsor, Cambridge,Markham) and Québec (Montreal andQuébec City). Over 200 people attendedthe events, which were organized inconjunction with local trade developmentagencies and regional offices of theCanadian Department of Foreign Affairsand International Trade. Dozens ofcompany representatives had one-on-onemeetings with the Counsellors to discusstheir particular objectives in Central Europe.Canada Trade Day was held in Ústí nadA Labem on March 15-16, 2006. CanadaTrade Days are organized by the TradeSection with local or regional chambersof commerce and aim at developingstronger trade ties between Canada and aparticular region of the Czech Republic.Such events were held in the last yearsin Jihlava, Ostrava, Zlín, Plzeň, ČeskéBudějovice, Pardubice, Liberec andOlomouc. Our event in Ústí nad Labemincluded a dinner hosted by AmbassadorJutzi for local and regional authorities anda day programme including presentationsby the Vice-Governor, the RegionalEconomic Chamber, the Ambassador,the Commercial Counsellor, the Ministryof Industry and Trade, CzechTrade, thePresident of the Canadian Chamber ofCommerce in the Czech Republic andEKOBUS, a company that has providedthe region of Ústí nad Labem withenvironment-friendly buses propelled withCanadian engines. A networking lunchfollowed, as well as one-on-one meetingsbetween local companies interested indoing business with Canada and CanadianEmbassy Trade Commissioners.On March 29, Ambassador Jutzihosted a gala reception featuringCanadian Excellence in Information Technologiesat the Official Residence. During hisspeech, he commented on the strengthsof the Canadian Information andCommunications Technologies sector andsuccessful Czech-Canadian partnerships.He highlighted the award won by theCzech-Canadian consultant firm Adastraas one of the 50 Best Managed Companiesin Canada in 2005. Among the invited guestswere representatives of Canadian and CzechIT companies, Adastra’s major clients,representatives of public service and others.The Canadian Embassy Trade Section isquite strongly involved in promotingCanadian construction technologies andmaterial in the Czech Republic. For thefifth year in a row, we have partnered withthe Volyně Technical School to bringCanadian speakers for the Volyně Wood-FrameHousing Seminar, an annual professionalseminar focused on wood-frame housingand attracting over 500 participants fromthe Czech Republic and Slovakia. OnApril 12, 2006, we were pleased to welcomeMr. Dalibor Houdek, a former student ofthe Volyně school and specialist of woodframehousing. He presented the famousCanadian log houses. Log homes are anattractive reminder of our heritage andthey have evolved into modern designand technologies, which make themcomfortable and energy-efficient. Thesecond Canadian speaker, Mr. WayneFischer, represents an internationallyknown company: NewTech. Mr. Fischertalked about making homes morecomfortable, healthier and less expensive tooperate by using energy-efficient ventilationsystems. The Embassy was also a partnerof a new architecture competition calledWooden House of the Year, which was launchedby four Czech ministries to encourage andsupport wood-frame housing in the CzechRepublic. The results were announced atthe International Building Fair in Brno onApril 26, 2006. Several prizes were givenin different categories, such as best design.The Canadian Embassy hosted a receptionafter the awards ceremony. Note that theEmbassy is also organizing a Wood-Frame Missionto Canada in the fall of 2006; more informationmay be obtained from Mrs. Jitka Hošková atjitka.hoskova@international.gc.ca.The Canadian Ambassador madean official visit to Ostrava on April 19,2006. His meetings with Governor EvženTošenovský, Mayor Aleš Zedník, DeanTomáš Čermák of the Technical Universityas well as a dinner with a range of Czechand Canadian businesses, representativesof the region and the Embassy tradeteam provided opportunities to enhanceour bilateral relationship and to promotebusiness partnerships. In his speechat dinner, the Ambassador mentionedthat Canada and the Czech Republichave enjoyed long-standing commerciallinks and that these can grow stronger.Some Canadian companies are active orhave partners in the Ostrava region insectors such as construction, engineering,automotive and agri-food, and othercompanies are interested in investing there.In promoting added Canadian presence,he invited the audience to think of Canadaas a partner for their projects: “Whenyou think of Canada, think high-tech,think solid technologies for construction,transportation and power generation, fordealing with environmental challenges,and for real-estate development.”By Lyne-Marie TremblayCommercial CounsellorEmbassy of CanadaPhotos Courtesy of the Embassy of Canadaand Adastra CorporationJanuary – April GoCanada 1/2006 9

CANADA’S NEW GOVERNMENTAs a result of the most recentfederal general election,held early this year, Canadahas had a new Governmentsince February 6, 2006. Onthat day the leader of Canada’sConservative Party, StephenJoseph Harper, became the22nd Canadian Prime Minister.The new Cabinet consisting of27 Ministers, compared with37 for the previous one, has setitself five priorities for the first weeks andmonths of its tenure:• Cleaning up government byenacting and enforcing the FederalAccountability Act whose proposedwording was introduced on April 11,2006 (visit www.accountability.gc.ca forthe details of the envisaged measures);• Lowering taxes for workingCanadians, beginning with a reductionof the GST – In a speech given onApril 12, 2006, Prime Minister Harperstated that “the Government willreduce the GST from seven to six percent, and move toward five per centover the course of its mandate”;• Protecting Canadian families andcommunities by strengthening thejustice system;• Supporting parents’ child care choicesthrough direct assistance and bycreating more day-care spaces;• Delivering the health care Canadiansneed, when they need it, by addressingfiscal imbalance and establishing a patientwait times guarantee with the provinces.The Cabinet, headed by the RightHonourable Stephen JosephHarper, includes the Honourable PeterGordon MacKay who has becomeCanada’s new Foreign Minister; theHonourable David Emerson, the newMinister of International Trade; and,the Honourable James Michael Flahertywho serves as Minister of Finance.Source: Government of Canada – Visit the officialwebsite of the Office of the Prime Ministerat www.pm.gc.ca for more information and acomplete list of Cabinet membersFOREIGN MINISTER SVOBODA VISITS CANADAFrom April 21 – 24, 2006, the Ministerof Foreign Affairs of the CzechRepublic, Mr. Cyril Svoboda, paid avisit to Canada. His itinerary includedToronto, Winnipeg and Ottawa.While the Toronto and Winnipeg legsof the trip were devoted to contactswith representatives of the provincesof Ontario and Manitoba and withthe Czech community in Canada, theprogramme in Ottawa was centeredupon talks with members of the federalgovernment. In the meetings at thefederal level, the non-reciprocal visaregime became the predominant issue.On April 21 Minister Svoboda,together with Mr. Roy Norton,Assistant Deputy Minister forInternational Relations and Chief ofProtocol of Ontario, officially opened theCzech Republic’s new Consulate Generalin Toronto. In his remarks, delivered onthis occasion, the Minister stressed theimportance of the province of Ontarioand the city of Toronto as a natural focalpoint of Canada’s trade, culture and sociallife. The new Consulate General shouldbe conducive to further advancementof the relations between Canada’s mostimportant province and the CzechRepublic. On the same occasion, MinisterSvoboda also expressed gratitude forthe reception given to the thousands ofCzechs who found a new home in Torontoafter fleeing communist Czechoslovakia.By establishing the Consulate Generalin Toronto, the Czech Republic has alsoresponded to the needs of this copiousCzech community vis-à-vis their old homecountry. The new Consulate Generalresides at 2 Bloor Street West, Suite1500, Toronto, Ontario M4W 3E2, tel.+416 972 1476, fax +416 972 6991, e-mail:toronto@embassy.mzv.cz.The Minister also presented the 2006Gratias Agit Award to two prominentcultural figures, Josef Škvoreckýand Zdena Salivarová-Škvorecká,husband and wife renowned both inthe Czech Republic and in Canada fortheir own literary works as well as fortheir meritorious work at Sixty-EightPublishers, the publishing house thatthey founded in 1971 with the intention ofpromoting Czech and Slovak literature,especially works by authors who werebanned by the Communist regime.(Gratias Agit is an award established bythe Czech Ministry of Foreign Affairs.Since 1997, it has been conferred upondistinguished recipients as a gestureappreciating significant contributions tothe propagation of Czech culture in theinternational context.)Minister Svoboda’s talks with TheHon. Monte Solberg, Canada’sMinister of Citizenship and Immigration,have revealed that the new Conservativeadministration adheres to the positionupheld by the previous Liberalgovernments with regards to the nonreciprocalvisa regime in relations betweenCanada and the Czech Republic.The visa issue also dominated MinisterSvoboda’s talks with Canada’sForeign Minister, The Hon. PeterMacKay. Minister MacKay’s responseto the steadfast position expressed byMinister Svoboda on the absence ofreciprocity in the visa regime was free ofany negative emotions; instead, there wasawareness of an immediate need to seekto bridge the existing gap in the opinionsof the two countries and to initiate anactive dialogue at ministerial level.The two Foreign Ministers alsodiscussed the situation inAfghanistan, the attitude towardHammas, development cooperation andhuman rights. Their talks have confirmedthat Canada’s new administration andthe Czech Republic are in agreementon most foreign policy issues; theconcurrence of their views is particularlystrong in human rights matters, withregard to development assistance orin their assessment of the situation inUkraine, Belarus and Afghanistan.In conclusion of their meeting, the twoMinisters signed a Letter of Intenton the prepared Agreement betweenCanada and the Czech Republic on theFacilitation of Temporary Work Stays ofYouth that now awaits approval at theparliamentary level.The Speaker of the lower House of theCanadian Parliament, the Hon. PeterMilliken, with whom Minister Svobodaalso met, expressed his belief that theAgreement should not meet with anyproblems in the Canadian Parliament.Based on a report by Richard Krpač,Deputy Director, Press Department,Ministry of Foreign Affairs of the Czech RepublicThe Ministry has also provided the photos.10GoCanada 1/2006January – April

AUTOMATED SECURITYVIDEODETECTION IN REAL TIME 24 X 7ONLY EARLY PREVENTION OF TERRORISM, CRIMINALITY AND NATURAL DISASTERCAN SAVE HUMAN LIVES AND MINIMIZE DAMAGES ON A PROPERTYTheft andvandalismRegistration plate number, vehicle colour andshape in 3D for theft reasons (garage, parking)People counting on object entrancesand exits for evacuation purposesEntrance checkinto selected areaSingle-way moveLeft luggage (terrorist attack)Fall and slip againstinsurance tricksNatural disaster (fire)Faces recognition(wanted persons, passport control,…)Object intrusion or intrusionof its protected zone - land/airIllustrative photo - Airport Prague, Terminal North 2Therefore, we offer a solution ofSTRATEGIC OBJECT PROTECTIONSecurity digital camera systems with an automated videorecording analysis• Unmanned object protection or protection with minimum number of security guard• Almost unlimited number of cameras in a system enabling monitoring of:Long distance areas (state border, pipelines etc.)Large areas (factory, dam)Large number of objects (cross-roads, high voltage pole etc.)• Immediate comparing with police registry etc. (registration plate numbers, criminal faces,...)Crisis Management in case of need (object, city, state).This solution automatically combines and governs all security and alarm systems with other securityservices (firemen, police, army, rescue service). Evacuation with no time and financial losses, properrecording (prior to and after an incident or till the end of a rescue action) for eventual administrationprocedures (police, insurance) and eventual subsequent analysis.Further Detection of• Dangerous substances escape• Traffic (red-light violation, speed limit, toll-road fee, etc.)• Industrial productionMonitoring of dangerous area(escalator)* Detection is intended to support the existing resources. It will be continuously innovated following the technology development.For records examples, please, see the www.cpegroup.com website

CANADA’S BUSINESS ENVIRONMENT – SEEN FROM DIFFERENT ANGLESPrestigious internationalorganizations or companies giveCanada high ratings with regard to thequality of its business environment.The World Bank listsCanada as the countrywhere it is easiest to start abusiness; the same reportputs Canada in 3rd place protectinginvestors, and 4th place as regards theease of closing a business. In the overallevaluation, comprising 10 criteria fordoing business which also include e.g.registering property, hiring and firing,enforcement of contracts or payment oftaxes, Canada ranks fourth, with NewZealand being rated as the best performerand the Czech Republic taking the 41stplace among the 155 economies that wereexamined.Visit www.doingbusiness.org for completereports on all of these countries.Astudy conducted byKPMG indicatesthat Canada leads the G7countries in terms of low business costs,being second only to Singapore fromamong the 9 countries that were coveredby this research project over a period of10 years (the Czech Republic was notincluded).See www.competitivealternatives.com for details.Does that mean thateverything is perfect?The Canadian Federation ofIndependent Business may notentirely share that opinion. In a reportpublished at the end of 2005 under thetitle Rated R: Prosperity Restricted byRed Tape, the Federation concludedthat it cost Canadian businesses $33billion a year to comply with all therules imposed at the various levels ofgovernment. “With $33 billion, youcould eliminate the GST,” said GarthWhyte, CFIB’s Executive Vice-President,adding that excessive regulation hasan adverse effect especially on smallbusinesses that lack the resources, bothpersonal and financial, for handlingthe requirements of the numerousgovernment rules. Six in ten smallbusiness owners said they would investin new equipment or business expansionif this burden were to be lightened.On the other hand, CFIB has recordedpositive developments as well. Thelatest trend of its Quarterly BusinessBarometer has indicated a growingconfidence within Canada’s small andmedium-size business sector. As ofMarch 29, 2006, the CFIB QuarterlyBusiness Barometer Index stood at 107.2(1988 = 100), which is 1 point above itsDecember level and 4 points abovethe September level; moreover, 49 percent of respondents expect a strongerperformance of their companies withinthe next 12 months while only 16 per centexpect a weakening.Go to www.cfib.ca for details.Compiled from the official releasesof the World Bank, KPMG and the CanadianFederation of Independent BusinessEXECUTIVE SUMMARY: THE GLOBAL INVESTMENT OUTLOOKNow in its fourth year, the global bullmarket in equities has deliveredsolid results in every region. To thispoint, returns have reflected a reversalof the extreme mispricing of stocksthat existed as the last bear marketdrew to a close. Going forward a wellbalanced, durable economic expansionand still-reasonable valuations indicatethe potential for returns in line with thehistoric norm.The outlook for fixed income marketscontinues to be clouded by whateveris left of the current cycle of interest ratehikes, and by persistently low real ratesof interest. The adjustment to a “normal”level of bond yields has been glacial, butit is progressing. As a result, total returnsfor bonds have held below historicnorms so far in the current cycle andlagged far behind what’s been availablein equities. Our recommended asset mixremains tilted toward equities and awayfrom bonds.A Well Balanced Enduring Cycle...There are challenges, but the U.S.economy is now in its fourth yearof recovery/expansion, and without thepressures typical of a maturing businesscycle. Rising interest rates are coolinggrowth, but also lessening the risk ofinflation. This balance is the stuff oflong economic cycles, and the end tothe current version isn’t yet in sight.The Canadian economy has kept pacewith the U.S., bolstered by surgingcommodity prices and the benefits offundamental reform to monetary, fiscaland trade policy over the prior decade.The Canadian dollar, up 42% in only 4years, is now biting, enough we thinkto hold growth slightly below that ofthe U.S. and act as a brake on Bank ofCanada’s rate hikes....Goes Global...After dragging up the rear so farthis decade, the Eurozone is finallyshowing signs of sustainable growth.And in Japan, evidence continues toaccumulate supporting a view that overa decade of stagnation is behind....as Growth Rates Converge...2006 looks to be a year of convergingeconomic growth rates, withthe U.S. slowing toward a long-termsustainable pace and the Eurozoneand Japan perking up. We look forU.S. GDP growth of 3.5% this yearand 3.25% for 2007. In Canada, growthshould trend near the 3.0% level. Ourforecasts indicate Eurozone growthaveraging 2.25% over both 2006 and2007, with the U.K. lagging slightly at2.00%. Forecasting Japanese growth isespecially difficult as the economy finallyemerges from 15 years of stagnation. Weexpect Japan to grow at 2.5% in 2006with further improvement to the 3.0%level for 2007, although we continueto suspect that growth may exceed ourforecast....and Inflation Remains MildFundamental to our positive outlookis the level of inflation. Despitedistortions in all regions caused byvolatile energy prices, consensusexpectations indicate modest inflationgoing forward. As long as inflationexpectations remain mild, central bankshave little reason to raise short-terminterest rates significantly and put thecurrent economic expansion at risk.Two More Fed Funds Hikes...Strong economic data in the U.S.during the first quarter andcommentary from the Federal Reserveregarding inflationary pressures hascaused us to add an additional hike in thefed funds rate to our forecast. We nowlook for two 0.25% hikes, with the final12GoCanada 1/2006January – April

EXECUTIVE SUMMARY: THE GLOBAL INVESTMENT OUTLOOKincrease during May 2006. The outlookfor other economies is dependent onthe maturity of their business cycle. TheBank of Canada has closely tracked theFederal Reserve Board, but a strongCanadian dollar and slightly lowereconomic growth should dampen theirdesire to raise rates over the coming year.We see no need for further rate actionin the U.K. over the year ahead, butexpect the Eurozone to gradually moveits overnight rate to 3.0% from its currentfix of 2.5%. In Japan, the end of ultralowinterest rates is imminent, paving theway for an increase in short-term interestrates, but not likely before 2007.... and Further Pressure on Bond PricesPressure on bonds is unlikely toabate as long as yields remain belowequilibrium and central banks continueto lift short-term interest rates. We expect10-year bond yields in the U.S. to rise to5.25% with similar maturities in Canadaincreasing to 4.75%. Markets in otherparts of the world show similar risk. Weforecast Eurozone yields of 4.25%, U.K.Gilts at 4.5% and 10-year Japanese bondyields at 2.0%. These expectations forfixed income markets imply low singledigit returns, or worse, but as bondyields achieve our target levels andshort-term rate hikes come to an end,an opportunity for modestly better totalreturns may appear.Stocks Still Showing Good ProspectsStocks offer the potential for averageto above-average total returns.Reasonable valuations and firm profitgrowth continue to breathe life intothe bull market, and our outlook forthe economy, inflation and interestrates indicate that an equity-friendlyenvironment lies ahead, especially as theFed completes its cycle of tightening.That said, those with portfoliosconcentrated in the comparativelyexpensive Canadian equity marketshould consider diversifying positionsto take advantage of more reasonablevaluations elsewhere.Asset Mix Tilted Towards StocksOur targets for the major assetclasses indicate long-term average,or better, returns from equities overthe year ahead. Against that, bondsremain unattractive as valuations andthe monetary policy environment limitpotential. Once again this quarter, ourrecommended asset mix for a balancedportfolio is tilted toward an overweight inequities and an underweight in bonds.© 2006 RBC Asset Management Inc.All rights reserved.Reprinted with permission from RBCAsset Management Inc.About RBC Asset ManagementRBC Asset Management Inc. is an indirect, whollyowned subsidiary of Royal Bank of Canada. RBCAsset Management Inc. provides a broad range ofinvestment services to investors through mutualfunds, pooled funds and separately managedportfolios. With over $66 billion in assets undermanagement and offices in major financial centresaround the world, RBC Asset Management Inc. isone of Canada’s largest money managers. Visit ourwebsite at www.rbcfunds.com.About RBC Financial GroupRoyal Bank of Canada (RY: TSX, NYSE) usesthe initials RBC as a prefix for its businesses andoperating subsidiaries, which operate under themaster brand name of RBC Financial Group.Royal Bank of Canada is Canada’s largest bankas measured in assets, and is one of North America’sleading diversified financial services companies. Itprovides personal and commercial banking, wealthmanagement services, insurance, corporate andinvestment banking, and transaction processingservices on a global basis. The company employs70,000 full and part-time employees who servemore than 14 million personal, business and publicsector clients through offices in North America andsome 30 countries around the world. For moreinformation, please visit www.rbc.com.The information contained in this report hasbeen compiled by RBC Asset Management Inc.(RBC AM) from sources believed to be reliable,but no representations or warranty, express orimplied, are made by RBC AM, its affiliates orany other person as to its accuracy, completeness orcorrectness. All opinions and estimates containedin this report constitute RBC AM’s judgement asof March 10, 2006, are subject to change withoutnotice and are provided in good faith but withoutlegal responsibility. Please contact your FinancialAdvisor to discuss your personal situation.This report is not an offer to sell or a solicitation ofan offer to buy any financial instruments. To the fullextent permitted by law neither RBC AM nor anyof its affiliates, nor any other person, accepts anyliability whatsoever for any direct or consequentialloss arising from any use of this report or theinformation contained herein. Past performanceof any securities discussed in the report are notindicative of future results. This report may not bereproduced, distributed, or published without thewritten consent of RBC Asset Management Inc.RBC Asset Management Inc. provides globalwealth management services and is a MemberCompany under RBC Investments. RBC AssetManagement Inc. and Royal Bank of Canada areseparate corporate entities, which are affiliated.Spring 2006By Daniel E. Chornous, CFA,Chief Investment Officer,RBC Asset Management Inc.A CHANGE IN PASSPORT SERVICES FOR CANADIAN CITIZENS IN PRAGUEThe Canadian Embassy in Prague hasrecently announced an importantchange relating to the passport servicesprovided to Canadian citizens. Witheffect from February 13, 2006, Canadiansapplying for passports in Prague are ableto receive the same high-quality, securityenhanced,machine-readable passportsas they would in Canada. This initiativeis an important part of the CanadianGovernment’s new National SecurityPolicy and ensures that Canadian traveldocuments are compliant with the globalstandards applied by the InternationalCivil Aviation Organization.The service standard for deliveryof the new, more secure passportwill require up to fifteen working days,which includes courier time for a newlyissued passport to be delivered fromCanada. The Embassy therefore stronglyrecommends that Canadian citizensneeding a new passport should applyfor it well in advance of any envisagedtravel.Source: Embassy of Canada, Prague – Pleasevisit the Embassy’s website at www.canada.cz– Assistance to Canadians for more informationon the procedure, or call +420 272 101 800January – April GoCanada 1/2006 13

MACROECONOMIC SURVEY OF THE CZECH ECONOMYAND OUTLOOK FOR THE NEAREST PERIODThe Czech economyexperienced an unprecedentedGDP growth in 2005, amounting to6.0% in real terms on year-on-yearbasis (y-o-y), compared to 4.7% inthe year 2004. Such growth hasnot been recorded in the history ofthe independent Czech Republic.The growth trend has beenconstant and without dramaticfluctuations since the EU accession inMay 2004. Like in the previous quarters,the overall economic growth was fuelledby improved trade balance whereincrease in exports of goods (+12.6%)was more than twice as high as increasein imports of goods (+6.1%). The netborrowing (deficit) of the Czech generalgovernment amounted to CZK 76.7billion (CAD 3.88 billion) in 2005, whilethe general government consolidatedgross debt reached CZK 901.3 billion(CAD 45.6 billion) by the end of 2005.The dynamic GDP growth, however,caused that relative figures included inthe Maastricht criteria declined in 2005.The percentage of general governmentdeficit reached 2.59% of GDP and ofgeneral government debt 30.49% ofGDP in 2005, while in 2004 it was 2.86%and 30.65%, respectively.In February 2006, the seasonallyadjusted industrial production wasdown by 0.7% month-on-month. Theyear-on-year industrial productionindex, however, reached 111.8%. Thistrend is about to continue also in thecoming months, as new industrial orderswere up by 17.5% y-o-y. The growth ofindustrial production was owed mostlyto manufacture of transport equipment(+30.8%, raising the growth of industryby 4.4 percentage points in total),manufacture of metals and metal productsand manufacture of electrical and opticalequipment. Decreases were recorded e.g.in manufacture of textiles and textileproducts (-8.0%), mining and quarryingexcept energy producing materials, andmanufacture of coke, refined petroleumproducts. The average monthly nominalwage in industry rose by 6.0% yearon-yearand amounted to CZK 17,299(CAD 875). Labour productivity (salesper employee) increased by 9.3% andproductivity per hour by 8.2%, bothoutstripping the increase of averagenominal wages. As a result unit wagecosts decreased by 3.0%.Seasonally adjusted total constructionoutput at constant prices was downby 0.6% month-on-month in February2006; in terms of y-o-y comparison, totalconstruction output at constant pricesfell by 8.2%. One of the factors was along-lasting extremely severe winter andweather with high snow cover whichaffected in particular finishing worksin civil engineering. But there was alsosome influence of pre-invoicing takingplace in 2005 due to the transfer of theindustry to the higher VAT category.In the year 2005, exports andimports were up by 8.6% and 4.6%,respectively, on the y-o-y basis. For thefirst time in the history of the CzechRepublic, the annual trade balance wasactive and amounted to CZK 41.9 billion,which represented an improvement ofCZK 68.3 billion vis-à-vis 2004. Theimprovement of the balance was mostmarkedly contributed to by a CZK 7.5billion increase in surplus of trade inmachinery and transport equipment.This trend has remained unchanged alsoin 2006. In February 2006, according topreliminary data, exports and imports atcurrent prices rose by 11.7% and 12.2%year-on-year, respectively.Consumer prices continued in thepreceding period in a very moderategrowth, fuelled primarily by a onestrokeincrease of prices of public utilityproducts in January 2006 (e.g. naturalgas, electricity etc.). The consumer pricelevel dropped by -0.1% month-on-monthbasis in March 2006, while in the y-o-yterms it amounted to +2.8% in March2006 (the same figure as in February).Inflation thus stood only slightly belowthe Czech National Bank’s target of3%, well within the tolerance band of ±1percentage point. One of the factors wasthe slowdown in the prices of automotivefuel, the y-o-y rise of which dropped to+10.9% from +13.9% in February. Intotal, prices of goods went up (+2.2%) aswell as prices of services (+3.7%). In thefourth quarter of 2005, total employmentgrew by 71.0 thousand persons y-o-y. Thegeneral unemployment rate according toILO fell by 0.4 percentage points andreached 7.8%.The exchange rate of Czech koruna(CZK) for 1 CAD reached 20.619 by10 April 2006, while it was 19.009 a yearago (- 7,8%), which can be linked with aslight appreciation of USD.April 10, 2006Emanuel ŠípPartnerAllied Progress Consultants AssociationTHE BEST OF TIMES FOR GLOBAL & CZECH ECONOMIESWhen Raghuram Rajan, ChiefEconomist at the InternationalMonetary Fund (IMF), went beforejournalists on April 19 to comment onan IMF report released that day onthe outlook for the world economy, hisstatement left little doubt that the globaleconomy is on a roll. “It would be fairto say to the world, ‘You’ve never hadit so good,’” he said. Indeed, the globaleconomy will exceed 4 per cent growththis year, and could even hit 4.9 per cent,according to the IMF’s World EconomicOutlook report.The Czech economy is no exception.It posted unprecedented growth in2005 and is expected to remain strongthis year which likely means anothergood year for businesses. Last year Czechgross domestic product (GDP) grew arecord 6 per cent, shocking economicanalysts and even the Czech NationalBank (ČNB). “It was a great surprise,including to the ČNB, which has thebiggest team of analysts,” said MarkétaŠichtařová, Chief Economist at NextFinance.Foreign trade is making the largestcontribution to the country’sbooming economy. Last year the CzechRepublic posted its first ever year-endtrade surplus, 40.4 billion CZK. Thissuccess is despite economic stagnationin some of the country’s largestEuropean trading partners — Germanyin particular — and the strong crown,which in theory should be making Czechgoods less competitive abroad. “Thecompetitive edge of our exporters is sostrong that it outweighs the currency,”said Martin Kupka, Chief Economist atČSOB. The export economy is gettingthe most stimulus from the automotivesector, with Škoda Auto and the newTPCA car manufacturing plant in Kolín,which launched production in early2005, leading the way.14GoCanada 1/2006January – April

THE BEST OF TIMES FOR GLOBAL & CZECH ECONOMIESThe good news is that TPCA willincrease production this year andSouth Korean auto manufacturerHyundai looks likely to commit tobuilding a 29 billion CZK plant here.The investment, which isn’t a done dealbecause a contract hasn’t been signed,though the Cabinet and Hyundai havesigned an official memorandum, shouldfurther increase the Czech exportbalance. (Editor‘s subsequent note:The Czech Government approvedthe contract on May 10, with signingenvisaged for mid-May.)Foreign direct investment, whichexceeded 200 billion CZK last year,is also expected to be strong in 2006, andanalysts forecast inflation will remainlow. It is also important to note thatsome of the largest economies in Europeare showing signs of strengthening afteryears of stagnation which could openup even more trade avenues. As a result,economic analysts are predicting GDPto grow between 5 and 6 per cent thisyear. Some, including Next Finance’sŠichtařová, predict GDP growth above 6per cent is possible.If 2005 is any indication, all this meansthat companies shouldn’t have muchto worry about this year. Last year thelargest stocks on The Prague StockExchange (PSE), including electricitygiant ČEZ and oil and petrochemicalgroup Unipetrol, saw net income increase26 per cent. The banking sector, anotherlarge segment of the economy, saw profitincrease 20 per cent. Tibor Bokor, ananalyst at Wood & Company, said thePSE blue chips could post a 20 per centincrease in net income this year. While itis true that these are all large companies,their prosperity trickles down to smallerbusiness in the form of supplier contracts,among other things.And what of the threat of increasingoil prices? Some observers arepredicting oil prices could reach $100 abarrel this year. Global economies arecontinuing to grow despite rising oilprices, and the Czech economy likelywill as well, according to analysts. Thisis primarily because economies arebecoming less sensitive to fluctuationson global oil markets. “Economies areless demanding on oil and more flexiblethan 10 years ago,” said Helena Horská,an economist at Raiffeisenbank.It should also be pointed out, accordingto Šichtařová, that oil prices are risingbecause the world economy is strong.China, which has an economy increasingmore than 9 per cent, is consuming a lotof oil to sustain its enormous growth,pushing prices higher.As China’s economy has grown,countries throughout the EuropeanUnion have felt the burn as theirindustries, textiles in particular, havesuffered under inexpensive Chineseimports. While these imports have hada devastating effect on some Europeanindustries, there is also a positive sideto China’s growth. “Chinese growthopens the door to our exporters,including in services,” said Kupkaof ČSOB. For instance, some Czechfinancial institutions are already offeringconsumer loans in China, and more suchstories are likely to follow, accordingto Kupka. “There are those who havestarted to penetrate Chinese markets,and I think it’s a great opportunity,”he said.April 21, 2006By S. Adam CardaisBusiness EditorThe Prague Post

HUNDREDS OF ROOFS COLLAPSED IN CZECHIA LAST WINTER:CAN THIS HAPPEN IN CANADA?It is not all love and kissesbetween the Canadianconstruction industry and thelegal profession. But it is theCanadian lawyers that helpkeeping roofs in Canada fromcollapsing.Years ago I wrote an articlein the magazine “BritishColumbia Professional Engineer” whereI compared the contemporary situationto the circumstances surrounding thecompletion of the construction of theSuez Canal in 1862. At that time theengineer Ferdinand de Lesseps wasacclaimed as a hero, the opening wasaccompanied by a whirlwind of partiesand balls and Verdi wrote his opera Aidato celebrate the occasion.It is often different in Canada now. Whena project of a more significant size iscompleted, a politician cuts the ribbon andteams of lawyers get into action. They startto examine the design and constructionprocess, checking how the architect, theengineers, the contractor and the buildinginspector performed their duties andresponsibilities, so as to find out whetherthere weren’t any deficiencies somewherein the process that could make somebodyliable to pay damages.Canadian architects, engineers andcontractors have a very low opinionof the legal profession. They believe thattheir lives would be considerably easierand that they could create much greaterprojects if lawyers did not interfere in theirwork. Now a joke told by a Canadianarchitect: “Why do research facilities beginto use lawyers instead of rats for theirexperiments? Because even rats sometimesrefuse to perform certain tasks.”Nevertheless, the involvement of thelegal profession in the constructionbusiness has had a largely positiveeffect. One good example of that isconstituted by the milestone case of theSave on Foods roof collapse in Burnaby(Greater Vancouver) B.C. in 1990. Theproject involved a steel structure of asupermarket with rooftop automobileparking. On the opening day theparking was full and the roof collapsed.Fortunately nobody was hurt. Teamsof lawyers and experts got into actionimmediately and examined all details ofthe design, the construction process, thefabrication of the steel structure, the useof the building, etc. The findings startedto point towards an error on the part ofthe structural engineer.But then the proceedings took arather unexpected turn. It was foundthat the structural engineer’s liabilityinsurance limit was low; the title of hishouse had been transferred to his wife.He had only very limited ability to payfor his mistake. Thus, it became necessaryto look for somebody else who had theability to pay. The municipality and itsbuilding department became the obvioustargets. Should the building departmenthave checked the design? Should themunicipal inspectors have verified thatthe structure was built properly?There were no clear answers to thesequestions and things started to lookshaky for the municipality. In the end,the case was settled out of court.This case had an indisputablyfavorable effect on the constructionin B.C. and in the whole of Canada.The design procedures were reviewedand clarified. The resulting amendmentsincluded qualification requirementsfor designers, independent qualitychecks of the design and provisions forliability insurance to cover potentiallosses. Construction procedures werealso looked at. The designer now hasto supervise the construction and hasto certify at the close of the project thateverything was built according to his orher design or – if any changes were made– that s/he approved them.These requirements have increased theamount of paperwork. But they haveclarified the extent of responsibilities andduties of the involved parties.am not aware of any collapses sinceI the Save on Foods case. Comparedto this case, the Czech constructionindustry appears to be sometimes easygoing, perhaps even sloppy. In one ofour projects the contractor made seriousmistakes. A portion of the work hadto be demolished and rebuilt and thecontractor paid for it. The site supervisorand the project manager apologized(aren’t we all human?). But both ofthese people still work for the firm, andit remains uncertain whether anybodyhas really learned something from thisexperience.We all read the newspaper reportsabout hundreds of roofs thatcollapsed under snow. Historic recordsshow that this year’s winter was longindeed, but it was not a record season interms of snowfall. It will be interestingto see the outcome of the investigationsof these collapses. Could they have beenthe fault of the designers, the builders,the building departments or theauthorities that determine the permittedsnow load? Were old structures modifiedwithout proper engineering scrutiny?Newspaper comments tended to pointto “just a lot of snow”. It remains to beseen who will pay in the end. Maybe theCzech building owners, developers andlawyers should become tougher guys.By Joseph NovacekThe structural engineering firm ofJ. Novacek & Assoc. Ltd., Vancouver, B.C. wasfounded in 1980. In the early years most of its workinvolved developments at Whistler, B.C. Laterthe firm specialized in structures with timber as animportant architectural and construction element,such as schools, native community buildings, etc. Itsactivities also included legal work, reports and experttestimonies in court, such as in the collapse of theSave on Foods building. In 1997 the firm associateditself with a large engineering firm in Vancouver.Most of the activities of J. Novacek, P.Eng. nowconsist of land and project development work inČeské Budějovice in the Czech Republic.GoCanada is published three times a yearin Prague by the Canadian Chamberof Commerce in the Czech Republic,IČO 25136933 and is registeredwith the Ministry of Cultureunder Ref. No. MK ČR E14655.Should you wish to advertise, placean article or contribute in any wayplease contact our office:Canadian Chamber of Commercein the Czech RepublicPraha City Center, Klimentská 46,110 02 Praha 1Czech Republicwww.gocanada.czTel.: 225 000 345E-mail: info@gocanada.czEditor: Alexandra BrabcováE-mail: brabcova@gocanada.czThe views expressed in GoCanadaare not necessarily the views of theCanadian Chamber of Commerce butthose of the individual contributor.16GoCanada 1/2006January – April

www.csas.cz/expatcenter Infoline: 224 101 630Your banking home away from homeThe Expat Center of Česká spořitelna provides products and personal banking services designedto meet the individual financial needs of foreign clients. The Expat Center provides expats livingin the Czech Republic multi-lingual personal banking consultants who communicate fluentlyin English, French and German. The Expat Center is located in a beautiful historic building rightin the heart of Prague. Come and see us in Rytířská 29, Praha 1, (near metro station Můstek),tel.: 224 101 630, e-mail: expatcenter@csas.cz or www.csas.cz/expatcenter

THE EUROPEAN UNION AND ITS STRUCTURAL FUNDSThe European Union isbased on the generalpremise that the only wayto combat the very strongeconomy of North America andthe emerging economic powerof Asia is to unite in some way,in order to create a bigger andmore powerful unit. Simplyput, by the 1990s, individual“old continent” states had nochance to grow and compete inthe new global economy.One problem which this “new unitedEurope” has had to confront wasthe fact that after the Second WorldWar, European states developed quitedifferently. Some, like West Germany andFrance, became economic powerhouses,while others fell behind. After WWIIended in 1945, Europe was divided botheconomically and politically. The statesof eastern and central Europe fell undercommunist rule, which essentially ruinedpreviously capable economies. Forexample, we should recall that duringthe interwar era Czechoslovakia was oneof Europe’s most prosperous states.Thus, when some of the formerlycommunist central and easternEuropean states finally entered theEuropean Union in May 2004,the situation drew attention to theastronomical differences in theeconomies of these countries ascompared to western Europeaneconomies, as well as to the greatdifferences in infrastructure and inpeoples’ thinking. The divide betweenEast and West was certainly not overcomewith EU expansion. Hence, if the brightminds of Europe wanted to create thisunit without internal borders and allowfor the free movement of people, theyhad to tackle the problem of everybodywanting to move to the more prosperousregions of Europe.This is where the so-called EUStructural Funds come in. The newcentralized administration of the Uniondecided that the easiest and fastestway to iron-out the differences is to redistributemoney, giving poorer regionsa fighting chance to survive and, in themeantime, giving the more prosperousregions the chance to prepare for a futureinflux of workers. If these workers wereto migrate immediately, the regionswith higher wages would suffer highunemployment rates, and eventually,the existing local governments wouldcollapse. This is yet another argumentfor the more prosperous regions of theEU to agree to the idea of subsidizingpoorer regions for a time. As it worksnow, the better a country’s economy,the more it pays into the common pot.This situation is, however, penalizingthe stronger economies and it can notbe sustained forever. Eventually, thecountries which are asked to pay the billfor the Union will rebel. Right now wehave the unique chance to try to even-outthe biggest differences between the EUmemberstates.The Czech Republic has also triedto obtain EU funds. In the case ofmany states, monies were allocated bythe EU and local governments were toco-fund projects set in a particular region(the contribution of local governmentsis usually expected to be in the 25%range). However, this system seemed togenerate an uncooperative approach onthe part of some ministries; if localministries do not want to allocate statefunds for the projects they are not fond of,they create bureaucracy, harsh conditionsfor potential applicants, or they simplydo not release the calls for projects ina timely manner. Consequently, fundsearmarked for the Czech Republic bythe EU have not been used in time. Forthe first fiscal period between 2004 and2006, the Czech Republic had a chanceto obtain 74 billion Czech crowns fromthe EU. However, as of January 2006the Czech Republic had used only 20%of these EU resources. Thus, it remainsto be seen if the internal complicationscreated by the relevant ministries willcost the Czech Republic even more ofthe promised money.We are now entering a sevenyearperiod, the second fiscalterm allotted to EU Structural Funddistribution. The EU has allocatedapproximately 745 billion crowns forthe Czech Republic in this upcomingperiod. Rather intense lobbying iscurrently going on in Brussels abouthow much money is going to be givento infrastructure projects and who isgoing to receive it. The open questionis whether ministries are supposedto manage the projects, or whetherit would not be better for more localgovernments, such as those on theregional level, to take over. It remainsto be seen whether we have learned fromprevious mistakes and will now take achance as the Irish did. Ireland took achance by modernizing and making EUfunds more accessible - look at wherethey are now.By Vladimír KravjanskyThe author, Vladimír Kravjansky, is Chairmanof the Benešov district’s Chamber of Commerce, aboard member of the Central Bohemian Chamberof Commerce, and the owner of a consulting andaccounting firm, Benecor s.r.o. For the past twoyears, he and his highly professional staff have beenspecializing in working with companies on initialconsulting, and on actual applications for the EUfunds. The Benešov Chamber of Commerce is alsoa recipient of EU funds, therefore the author alsohas first-hand experience on reporting practices,controls and audits of these funds.From the Seminar on April 27, 2006Structural Funds of the European Union: How to Obtain Support for Your ProjectMore information on the structural funds and general information on the European Union can be found at:http://www.strukturalni-fondy.cz (on the structural funds, in Czech only for the time being)http://www.euroskop.cz (EU-related information provided by the Government of the Czech Republic, in Czech with English summary)http://www.evropska-unie.cz (website of the Delegation of the European Commission in the Czech Republic, Czech and English version)http://europa.eu.int (official website of the European Commission)http://europarl.europa.eu (official website of the European Parliament)18GoCanada 1/2006January – April

TROIS CANADIENNES IN PRAGUEAt the beginning of May 2006,an exhibition of works by threeCanadian artists, Kathryn Jacobi, JudyAnderson and Chloe Surprenant, washeld at the LaFemme Gallery under thetitle TROIS CANADIENNES. Thevernissage and exhibition was organizedwith the help of Fred Korn, a well-knownart connoisseur from Sutton, Canada.The above named artists exhibit inMontreal, Toronto, Vancouver, SanFrancisco and Los Angeles. The Pragueexhibition is connected to the projectpursued jointly by Miroslav Lipina, ownerof LaFemme Gallery, and Fred Kornunder the title ”Czech Art in Canada- Canadian Art in the Czech Republic“.A number of distinguished artists wereinvolved in this exchange of ideas andexhibitions between the two countries:Pnina Granirer, Teena TarantourGoldberg, Mira Reiss-Arnaud and LucilleMarcotte from Canada; the Czech artistsexhibiting in Canada were Boris Jirků,Milan Chabera and Antonín Sládek(GoCanada reported about the previousstages of the project.)Galerie LaFemme previouslyproduced a similar project bringingCzech art to Brazil’s Lidice. This yearthe gallery is involved in organizing asymposium in France entitled ProvenceThrough the Eyes of Czech Artists, andfor 2007 there is a plan for Czech art totravel to Canada again for exhibitions inOttawa and Toronto.Galerie LaFemme was established in2000 in the centre of Prague andquickly became one of the most successfulart galleries in the city. The main themethat it features is woman – hence the galleryname; the works of art displayed thereshow women in the widest variety of stylesand positions. In addition to exhibitingpaintings, LaFemme Gallery also seeks toinspire artists; to this end, it occasionallycommissions works on specific themesunder a project called ”Homework“. Thisinitiative was launched two years ago andapprox. 50 artists have participated in thisventure; it was truly interesting to see howthey handled themes such as Breakfast inthe Grass; The Birth of Venus; A SmallHomage to the Great Edith; Woman anda Car; Mona Lisa; Woman, Song andWine or Exiled from Paradise. The artistsassociated with “Homework” on a regularbasis include Boris Jirků, Milan Chabera,Antonín Sládek, Michael Rittstein,Tomáš Hřivnáč, Alois Mikula, FrantišekZálešák, Roman Franta, Ladislav Kuklík,Jan Souček, Jaroslav Šerých, Jiří Anderle,Roman Brichcín, Eva Mansfeldová, EvaChmelová, Jiří Brázda and many others.This coming October a majorexhibition of works by all LaFemmeartists is due to be held at the VáclavŠpála Gallery under the title ”Homeworkand Pictures from Travels“.Text and photos courtesy of Galerie LaFemmeChloe Surprenant – De retour sur le trottoirBoris Jirků – Madonna with a Black HaloKathryn Jacobi – Girl with BreadMilan Chabera – Homework: Woman, Song and WineKathryn Jacobi – BurningletJudy AndersonChloe Surprenant – Le Voleur de statuetteAntonín Sládek – Mlle D.January – April GoCanada 1/2006 19

CASE STUDY: FOOD TRENDS IN THE CZECH REPUBLICAs a new member of the Canadian Chamberof Commerce in Prague, it is our pleasure tointroduce TAMBOR to you. Considering the factthat many members are in the hotel/catering/foodindustry, we have selected a subject which we believewill also be of general interest:Now that Czechs spend about 20% oftheir income on food, they are becomingmore selective on what they spend theirmoney on. In particular, they are seeking:– nourishing food for the whole family;– healthy options;– lighter fat alternatives;– products enriched with vitaminsand minerals.While traditional Czech food is stillimportant, tastes are slowly changing toincorporate other cuisines with exposureto international foods.TRADITIONAL CZECH FOOD:Since food is still an importantpart of a family bond, families aretrying to eat together and women feelthat food preparation for the family isan expression of love. For some, onlya traditional Czech meal is considered tobe a ‚real‘ meal.Czech food is considered to be hearty,but not always healthy: it is associatedwith potatoes, cabbage and curd cheese,often consisting of meat in gravy,supplemented by potatoes or dumplings.All in all – rich in protein, heavy onstarches, few green vegetables and timeconsuming.URBAN VS. RURAL:Urban residents are interestedin healthy food trends, but do not alwayshave time for everyday cooking. Therural population, on the other hand, areless concerned with healthy food trendsand have less access to pre-preparedfoods – they usually have a small garden,often with livestock.HEALTH/DIET ISSUES:Many Czechs are becoming moreconcerned about health issues. About onehalfof women / one-third of men watchdiet trends. Their main concerns are:– healthier options in general;– eating in order to lose weight;– products fortified with vitaminsand minerals.About 40% of the population feel thatthey are fat. Younger respondents are lesslikely to have that attitude than middleagedand elderly. More than half ofwomen, and less than 2 of 5 men, watchwhat they eat in order to lose weight.Fewer Czechs consume red meat (beef inparticular), while poultry consumption(e.g. chicken) is on the rise. Butterand animal fat are frequently replacedwith herbal oils and margarine. Somesweetened muesli bars are replacingchocolate. However, doctors stillfeel that the consumption of wholegrainproducts, vegetables and fishis insufficient.C ONVENIENCE:Busy lifestyles have made speedof preparation more important. Whilefamily meals are still important, theymust be accomplished with less timein the kitchen. According to retailers,sales of convenience foods (partiallyprepared,ready-to-eat, canned soupsand mixes), are increasing by 10% eachyear and will continue to grow. Theinfrequency of shopping is also leadingto an increasing demand for frozen anddurable products.However, use of convenience foods stillbrings about a certain level of guilt:women do not feel comfortable servingready-made meals to their family, andoften see such products as necessaryevils. Manufacturers are addressingthis problem by offering traditionalCzech meals as convenience, or partiallyprepared foods (e.g. pre-made pizzacrusts), so there is a certain level ofpreparation involved.Fast-food, as a separate category, is notconsidered high-value, but fills a niche,especially among the younger generation.Almost 2 in 3 youngadults have been to afast-food restaurant.The image of theserestaurants is alsoimportant: visitinga fast-food restaurantis a fun experience,especially for youngteenagers. Visitorsfrom small townsmake it a destination.T YPOLOGY:Consumers followthe main attitudestowards diet in theirtypology:Rationalists:– faced withmany demandsin personal,professional,family lives;– quality isimportant, butconvenience is themain concern– take advantage ofnew products.Traditionalists:– have time tospend on foodpreparation;– Czech food is acomfort and shows family love;– tradition outweighs questions abouthealth: ‚it’s traditional, it must behealthy‘.Realistic Nurturers:– food is an important feature in caringfor family and showing love;– home-cooked, healthy meal is ideal,but convenience foods may benecessary from time to time.Health Loyalists:– quality, healthy, natural foods mostimportant;– do not believe claims promotingfortified ‚healthy‘ products, but followsmart eating trends;– organic and bio-productsare appealing.C ONCLUSIONS:1. Consumers are still influenced bynew products and willing to considermanufacturers’ claims.2. Changes in shopping behaviour haveaffected purchase decisions.April 6, 2006Ameli MisicAccount Director,International PartnershipsQUESTION – What is the market like in the:a) Czech Republicb) Slovak Republicc) Central European regionOnce you make your selection – we can help youfind out. (5% discount for 1 st project – mentionthe GoCanada ad.)TAMBOR, a market research and consultingagency – the top independent companyin the field. Contact us at:TAMBORNárodní 6110 00 Prague 1Tel.: +420 224 931 351www.tambor.czoffice@tambor.cz20GoCanada 1/2006January – April

The VYŠEHRAD 2000 s r.o. companyfits within the rank of major catering services providers nationwide.Specialist on expert projecting and management of standingreceptions, banquets, wedding receptions, corporate,private and garden parties. Projects are set in historic layouts,on company’s premises, in private homes and outdoors.Your Partner for Social Event ManagementNárodní 10, 110 00 Prague 1, Czech Republicphone: +420 224 951 738-40, e-mail: vysehrad2000@vysehrad2000.czwww.vysehrad2000.czwww.vysehrad2000.comThe VYŠEHRAD 2000s r.o. companyRestaurant FrançaisNew Summer MenuSummer PatioFantastic Sunday BrunchAir-ConditioningOpen daily 12–22Vladislavova 17, Old Town,tel.: 224 054 070, fax: 224 054 440e–mail: info@brasseriem.czwww.brasseriem.cz

DO CORPORATIONS HAVE AN IMPORTANT ROLE IN CHARITY?The social problems existingaround us cannot be sweptunder a carpet, nor can they beforgotten. It does not matterhow we look at the homeless,the poor, young offenders ordrug users - they are here andthey will stay.Society’s efforts to decreasethe occurrence of theseills require funds, volunteersand enthusiasm. In the far-away past itwas largely charitable organizations andchurches that provided sufficient numbersof volunteers and donors. During thecommunist rule those who were seen asundesirable elements were simply putinto prisons or mental institutions.At present the State considers itselfto be duty-bound to solve a greatpart of the aforementioned problemsbut the solutions that it offers are oftenaffected by insufficient budgets as wellas by excessive bureaucracy, missingthe human touch in many instances.Churches, scouts’ groups or foundationssponsored by wealthy people are short ofvolunteers because many of those whomight be willing to donate their timeand services are fully absorbed by therequirements of the labor market.new phenomenon that is now growingA in significance, and that may representthe way to go in the future, are the charitablefoundations sponsored by multinationalcorporations who are returning a portionof their profits to society.was honoured to be asked to serve asI Chairman of the Board of Directors ofVodafone Foundation Czech Republic.This international telecommunicationgiant belongs among the three bestcharitable sponsors in the world. Afterbuying Oskar, Vodafone has earmarked asubstantial amount of money to supportorganizations that take care of the youthwho would otherwise be left alone in theperiod between the end of school hoursand the time when their parents get home.We know that other corporatemembers of our Chamber arealso involved in similar activities andour Chamber itself has been one ofthe leaders among the Chambers ofCommerce in this country in givingsupport to worthwhile charities.sincerely hope that these worthyI endeavors may inspire a growingnumber of corporations who may chooseto spend a little bit of their profits onhelping those in need.By Peter Formánek,President of the Canadian Chamber of Commercein the Czech Republic & Chairman of the Boardof Directors of Vodafone FoundationCzech RepublicDiplomatic Ladies Association Reports Successof its Latest Charity Bazaar – Canadian TablePlayed a Major PartOn February 9, 2006, Pearl Jutzi,wife of the Canadian Ambassadorin Prague and Chair of the Canadiantable at the 2005 International ChristmasCharity Bazaar (held at Hilton Prague onNovember 20, 2005), hosted a gatheringat the Canadian Embassy Residenceto thank those who contributed to theCanadian participation in the latestround of this traditional charity projectorganized annually by the DiplomaticLadies Association of Prague.With justified pride, Mrs. Jutziannounced the results achievedby the Canadian table. Total proceedsamounted to 198,565 Kč - this included94,265 Kč collected at the table on theday of the event; 24,800 Kč raised in asilent auction featuring four fine items;cash donations totalling 62,000 Kč and17,500 Kč for 350 entrance tickets sold bythe Canadian team prior to the bazaar.The Canadian table consequently madea meaningful contribution to the overallsuccess of the bazaar that raised approx.5,400,000 Kč.Numerous members of our Chambergave their support to this worthycharitable undertaking. The corporatedonations made by Baťa, DeloitteCzech Republic, Prague Society forInternational Cooperation, ProcházkaRandl Kubr Law Firm, Trigránit CzechRepublic and Zámek Dobříš totalled59,000 Kč; Káva Káva Káva donatedcoffee for sale at the table; and EuroRSCG New Europe printed a muffincookbook for the same purpose. Threemembers – Czech Airlines, Four SeasonsHotel Prague and Oskar-Vodafone– donated items for the raffle held aspart of the bazaar. Many more membersparticipated on an individual basis byattending the event and purchasing someof the fine items offered by the variousnational tables. Their contributions arenow being transformed into tangiblesupport for numerous charitableorganizations in the Czech Republic.Proceeds of CanCham’s ChristmasBenefit Auction Bear FruitWith the help of the proceeds ofour Chamber’s Benefit Auction,held as part of our 2005 Christmas Party(totalling 53,510 Kč), the Infant CareCentre at Prague-Krč has now completedreconstruction of a new unit where it offersits clients a temporary home in a friendlyatmosphere resembling a real home tothe greatest extent possible. On April 24,2006, the centre was able to offer shelterin the newly renovated premises to thefirst two mothers and their babies. One isa young woman striving to get off drugs;the other has born a handicapped babyinto an unsuitable housing situation.The assistance and instruction thatthey will receive at the institute shouldhelp them overcome, or deal with, theproblems affecting the early stages oftheir motherhood so that they are betterequipped to give their children the carethey need once they leave Krč.22GoCanada 1/2006

AN INVITATION TO THE CANADIAN ROCKIESVisit the Canadian Rockies, I warmlyrecommend it!Ten years ago, I visited Canada for thefirst time, accepting an invitation ofa former schoolmate, George J. Linhart,who settled in Canada after leavingCzechoslovakia in the eighties. Georgelives with his wife Lucy in the province ofAlberta in the town of Lethbridge, whichis best known for the famous Black VelvetCanadian whiskey.When landing in Canada for the firsttime in my life, I could not haveenvisioned that it would be a destinytrip. My friends spend their leisuretime hiking in the mountains. Thus, Igot an opportunity to visit the Rockiesand a wholly new experience opened upbefore me. When standing on top of amountain, feeling the fatigue after hoursof walking, and seeing all the mountainsaround tens of kilometres away, I felt anindescribable, truly wonderful sensationof happiness and excitement that I hadnever known before.From the very beginning I havepreferred to travel by myself ratherthan with organized tourist groups whoare driven from one site to another,having 5 to 10 minutes to take picturesbefore moving on to the next destination.You know, I need to spend hours, notjust minutes, in the mountains. I needto become immersed in nature and senseeverything that the beautiful Canadianlandscape offers.Since my first visit, I have returnedto the embrace of these great andgorgeous mountains three times already– in 1996, 1999 and 2002. I have traveledthrough the national parks of Banff,Jasper and Waterton Lakes. I fell in lovewith the Canadian Rockies, and it is alove that will last forever.In these magnificent mountains, I haveone very special place that I see as“my own” – my Summit. I believe Godhimself visits it regularly. Mountains, alake and a forest can be found there in aperfect blend, and it is a home to manyanimals as well. When visiting the placein late July and early August, I saw bearsand mountain goats teaching their kidsto walk on slippery ice-slopes. Next tothis scene, magnificent mountain flowerswere in bloom, including the shiny redIndian Paint Brush. Peace and silenceis all around, like in a cathedral. This iswhere I experienced the closest contactwith the magnificence of nature andshed tears of happiness. I always visit itwhenever I cometo Canada.I believe thateveryoneshould have aplace like this– a place whereyou can experience something special,unique and non-recurring, your very ownplace of peace and harmony. A visit to theCanadian Rockies may give you a chanceto find it.Finally, let me point out that I donot travel to the Canadian Rockiesprimarily to take pictures. The mountainsthemselves and their atmosphere are thetrue reasons to me. All the pictures weretaken somehow just by accident …Photos and text by Radovan ValešMr. Valeš is a member of the Canadian Chamberof Commerce. He generously donated three of hiswonderful photos to the Chamber for our 2005Christmas Benefit Auction.View from Carthew SummitWaterton Lakes National Park – Alberta, CanadaBanffBanff National Park – Alberta, CanadaCarthew LakeWaterton Lakes National Park – Alberta, Canada

Viewpoint from Mt. Edith Cavell TrailJasper National Park – Alberta, CanadaAngel Glacier and Mt. Edith Cavell (3368m)Jasper National Park – Alberta, CanadaEnd of Mt. Edith Cavell TrailJasper National Park – Alberta, CanadaAthabasca Glacier, The Columbia IcefieldJasper National Park – Alberta, CanadaArea of Athabasca Glacier, The Columbia IcefieldJasper National Park – Alberta, CanadaStutfield Glacier, The Columbia IcefieldJasper National Park – Alberta, Canada

NEW CORPORATE MEMBERSAlchymist Grand Hotel and SpaAddress: Vlašská 24118 00 Praha 1Phone: +420 257 286 011Fax: +420 257 286 017E-mail:general-manager@alchymisthotel.comWebsite: www.alchymisthotel.comContact person:Andrea Uzunov | General ManagerA 500-year-old Palace, now a unique luxury five-star boutique Hoteland Spa located in the historical centre of Prague. The AlchymistGrand Hotel and Spa features 46 rooms and suites, an Asian Spa,a fully equipped fitness centre with a swimming pool, a Sushi Bar,a fine dining restaurant and lobby bar and meeting facilities.Digital ResourcesAddress: Šimanovská 11198 00 Praha 9Phone: +420 281 090 141Fax: +420 281 090 140E-mail: rick.kovar@digres.czWebsite: www.digres.czContact person:Rick Kovar | Vice President Sales & MarketingSince 1994 Digital Resources has provided IT services and softwaresolutions – combined with outstanding customer service – to SMEs.Our products and services include consulting, outsourcing, systemintegration, auditing, information and communication hardware,business software customization, user training, 24/7 monitoringand emergency response internet hosting, website development anddisaster recovery planning.Dílna Design, s.r.o.Address: Českomalínská 41/519160 00 Praha 6Phone: +420 233 381 205Fax: +420 233 381 206E-mail: monika@dilna.comWebsite: www.dilna.comContact person:Monika Pešoutová | Account ManagerDílna Design provides full services relating to the promotionof your company and its products. Our aim is to build and enhancea favourable image of our clients and their brands and products.We offer sales promotion, creative graphic designs, advertisingdesigns, web designs, animations, as well as assistance in organizingpresentation events, company gatherings and special projects forchildren. We specialize in producing POS materials as an instrumentof in-store communication. Our priority is long-term satisfaction of ourclients. Please check our website, www.dilna.com, for references.Drill B.S., spol. s r.o.Address: Francouzská 6120 00 Praha 2Phone: +420 723 417 777E-mail: vaclav_kaderabek@drill.czWebsite: www.drill.czContact person: Václav KadeřábekDrill B.S., spol. s r.o. provides professional services in three areas:– HR Solutions (executive search, recruitment, contracting &interim management, psychometric testing, assessment anddevelopment centers, outplacement, personnel & organization audits,HR software, legal advisory, occupation safety & health, HRoutsourcing).– Outsourcing of Support Functions (procurement, projectmanagement, office management, quality, security).– Management Consulting (strategy, business development,performance management, process optimization, restructuringand change management, project management, quality assurance).Expat Business Association (EBA)Address: V Jirchářích 2110 00 Praha 1Phone: +420 737 668 972Website: www.ebaprague.czContact person:Mark Anderson | President and CEOEBA’s mission is to build a trusted support network of experiencedand quality resources for expatriates and related industries.To emphasize the personal aspect of doing business, to help each otherstay informed and to conduct business on the strength of a handshake.Offers monthly social events in closed sessions for members only andopen functions for those interested in EBA activities.GlaxoSmithKline s.r.o.Address: Na Pankráci 17/1685140 21 Praha 4Phone: +420 222 001 401Fax: +420 261 220 264E-mail: Mark.2.mcclung@gsk.comWebsite: www.gsk.czContact person:Mark McClung | Vice President & General ManagerGlaxoSmithKline (GSK) is a world leading research-basedpharmaceutical company. Headquartered in the U.K., the company isone of the industry leaders, with an estimated seven per cent of the world’spharmaceutical market. GSK has leadership in four major therapeuticareas – anti-infectives, central nervous systems (CNS), respiratory andgastro-intestinal/metabolic. In addition, it is a leader in the importantarea of vaccines and has a growing portfolio of oncology products. Thecompany also has a Consumer Healthcare portfolio comprising over-thecounter(OTC) medicines, oral care products and nutritional healthcaredrinks. GSK has over 100,000 employees worldwide. Local activitiesof the Czech branch include sales and marketing of medicines andhealthcare products and conducting clinical trials.Havel & Holásek v.o.s., Attorneys-at-LawAddress: Týn 1049/3110 00 Praha 1Phone: +420 224 895 950Fax: +420 224 895 980E-mail: office@havelholasek.czWebsite: www.havelholasek.czContact person:Michael Mullen | PartnerHavel & Holásek has 30 attorneys located in Prague. The firm covers:corporate & commercial; mergers & acquisitions; legal due diligence;private equity; banking; projects; real estate; greenfield investments;bankruptcy; labour law; EU law; intellectual property;IT/E-commerce; competition; public procurement and state aid;litigation; media; sports law; energy; and environment.Investorsko inženýrská, a.s.Address: Gorkého 658/15460 01 Liberec 1Phone: +420 485 253 333Fax: +420 485 253 344E-mail: ii@iias.czWebsite: www.iias.czContact person: Petr KupfLocated in Liberec, Investorsko inženýrská, a.s. was founded in 1999.As a private development company, Investorsko inženýrská operatesthroughout the Czech Republic. The pilot project was the Liberec SouthIndustrial Zone. Thanks to this project, Investorsko inženýrská provedto be capable of immediately reacting to clients’ requirements.Klastr českých nábytkářů(Cluster of Czech Furniture Manufacturers)Address: Kozí 4602 00 BrnoPhone: +420 603 235 437Fax: +420 420 543 257E-mail: m.triska@interier.comWebsite: www.czechfurniture.comContact person: Milan TřískaAssociation of Czech manufacturers of high quality furniture andcomplete interiors with interest in exporting to Canadian markets.Kotrlík Bourgeault AndruškoAddress: Jungmannova 31110 00 Praha 1Phone: +420 224 990 000Fax: +420 224 990 001E-mail: mbourgeault@kotrlik.comWebsite: www.kotrlik.comContact person: Martin Bourgeault | PartnerKotrlík Bourgeault Andruško is one of the leading commercial lawfirms in the Czech Republic. We provide a wide range of legal servicesto meet the multiple and varied needs of multinational corporations,private companies and individuals, and businesses of all kinds. Weserve both foreign and domestic clients in all important areas of modernbusiness law. Our strong track record in the Czech Republic and ourgood knowledge of the Czech business environment allow us to providelegal representation of the highest quality.Marick s.r.o. – Prague AdventuresAddress: PO Box 21140 02 Praha 4Phone: +420 777 196 968Fax: +420 251 550 439E-mail: info@pragueadventures.czWebsite: www.pragueadventures.czContact person: Rick LeeCompany event planning; team building & team training; travel &tourism; and a variety of camps and sports programmes for childrenand families. At Prague Adventures we work hard to plan companyevents in a comprehensive way. From logistics, accommodation, foodservices, to training and facilitation needs. Our children’s programsare child-centered and culturally diverse.TamborAddress: Národní 6110 00 Praha 1Phone: +420 224 931 351Fax: +420 224 931 351E-mail: office@tambor.czWebsite: www.tambor.czFounded in 1992 in Prague, expanding to Slovakia in 1995, Tamborquickly became one of the top Czech market research and consultingfirms. As an independently-owned firm, Tambor offers high-qualityservice with minimal lead-time and fair prices. Tambor is a full servicefirm focusing on both qualitative and quantitative studies in theCentral European region – from product evaluation to public opinionon socio-political issues. Tambor staff has worked with targetgroups of all ages, caliber, and economic mobility, including teenagers,young professionals, top managers and physicians.Company Name ChangeAs of April 13, 2006, CM Industries s.r.o. has beenrenamed. The company‘s new name is Enviss TechnologiesInternational s. r. o., its contact details remainunchanged.NEW INDIVIDUAL MEMBERSDemare, Robert (Bob)Address: DHL Information Services(Europe) s.r.o.V Parku 2308/10148 00 Praha 4 - ChodovPhone: +420 288 803 808+420 739 547 929E-mail: robert.demare@dhl.comHendrych, JaromírC/o: Nejlepší bydlení – realitní kancelářAddress: Lípová 15120 44 Praha 2Phone: +420 736 624 317Fax: +420 224 922 514E-mail: hendrych@nejlepsibydleni.czWebsite: www.nejlepsibydleni.czKeplinger, Jörg GeorgC/o: Williams and PartnerAddress: Mezibranská 4110 00 Praha 1Phone: +420 777 875 457, 222 050 070Fax: +420 222 716 597E-mail: keplinger@wnp.czWebsite: www.wnp.czGrozdanovič, JanC/o: JGA LegalAddress: Slezská 63130 00 Praha 3Phone: +420 242 454 755Fax: +420 242 454 756E-mail: jang@jga-legal.czWebsite: www.jga-legal.czJockel, PavelCzech Republic: Lucemburská 25130 00 Praha 3Canada: 2503 Mac Donald StrHalifax, NS B3L 3G3Phone: +420 602 252 007Fax: +420 244 003 400E-mail: pjockel@hfx.eastlink.caUeltzhöffer, AndreasC/o: Ueltzhöffer Baladaadvokátní kancelář LVHMAddress: Krakovská 9110 00 Praha 1Phone: +420 296 370 444Fax: +420 296 370 433E-mail: andreas.ueltzhoeffer@ueba-lvhm.cz26GoCanada 1/2006

The ultimate in luxury cateringanywhere you want...ZbirohCastle of threeEmperorsBanquets, receptions,garden parties, cocktail parties,congresses, presentations,weddings and family celebrationsanywhere in the Czech Republic.The quality of our servicesis a matter of honourand prestige for us.Full service from choice of venue,transport, catering programmeto other related services.GASTRO OFÍN, s.r.o.The exclusive provider of catering services at ofín palace.The exclusive lessor of the Zbiroh castle.Catering services in the whole of the Czech Republic.ofín 226, 110 00 Praha 1, Czech Republicmobile.: +420 602 343 518tel./fax: +420 224 932 952e-mail: gastrozofin@gastrozofin.czwww.gastrozofin.cz, www.zbiroh.com

a statement of quality and service• Enchanting location in the PragueCastle district with the famous St. VitusCathedral • 55 luxurious rooms and 4Junior suites • Honeymoon Suite Savoyand the grand Presidential Suite, bothwith a private terrace • Library, twosalons, the Presidential Suite and theRestaurant Hradcany are the perfectplaces for meetings, receptions, privatelunch or dinner • Imperial RestaurantHradcany with its innovative and excitinginternational and Czech cuisineHotel Savoy*****CZ - 118 00 Prague 1, Keplerova 6Phone: +420 224 302 430Fax: +420 224 302 128info@hotel-savoy.czwww.hotel-savoy.cz• Traditional luxurious hotel, built in ArtNouveau style • Perfect location in thehistorical centre of Prague, few stepsfrom the Wenceslas Square • 114 deluxerooms and 10 spacious suites• Complimentary Coffee and Tea facilitiesin the room • Newly reconstructedconference facilities up to 200 delegates• "Top 10 International Restaurantsin Prague" awared Gourmet ClubRestaurant & Lounge • 24 hours RoomService • Sauna • ConciergeHotel Palace Praha*****CZ - 111 21 Prague 1, Panská 12Phone: +420 224 093 111Fax: +420 224 221 240info@palacehotel.czwww.palacehotel.cz• 60 spacious deluxe double rooms and 12executive suites with complimentary minibar• Quiet residential area of Vinohrady,15-minute walk from the famed WenceslasSquare • Excellent Seasonal Cuisine atLe Papillon Restaurant with open summerterrace • 24-hour Lobby bar and Library• Concierge • Health Club - fitness, sauna,steam bath, aroma showers, hydro-jet,solarium, massages and Beauty Salon• 2 conference rooms for up to 80participants, Library for up to 20 participantsLeaders Club Gold Award 2005Leaders Club Guest Recognition Award 2004Hotel Le Palais*****CZ - 120 00 Prague 2, U Zvonařky 1Phone: +420 234 634 111Fax: +420 234 634 635info@palaishotel.czwww.palaishotel.czOur top-addresses for your luxury trip to Prague• 398 standard / superior roomsand suites • restaurants Loreta,CD-Club and Café Klimt • 1.142 m 2of modern conference centre withstate-of-the-art audio-visualtechnology • Relax Centre • BusinessService Centre • Souvenir and flowershop • Hairdressers • Jewellery• Laundry Service • Car rental,limousine service • Undergroundparking • Room Service• ConciergeDiplomat Hotel****PragueCZ – 160 41 Prague 6, Evropská 15Phone: +420 296 559 111Fax: +420 296 559 215info@diplomathotel.czwww.diplomathotel.czfoto: Lubomír Fuxa• 4* de luxe design hotel near the historicalcentre of Prague * 239 rooms incl. 8 suiteswith state-of-the-art technical equipment• Conference Centre with 15 flexible rooms• Restaurant with a capacity of 220 seats,Bar/Brasserie • Fitness & Health Centre• Underground parking • andel's SuitesPrague - 51 exclusive serviced apartments& suites both for short and longer stays:Studios, Apartments and Maisonettes, RooftopRoyal Apartments with terrace • Wireless highspeed internet access in all public areasandel’s hotel Prague****CZ - 150 00 Prague 5, Stroupežnického 21Phone: +420 296 889 688Fax: +420 296 889 999info@andelshotel.comwww.andelshotel.cominfo@andelssuites.comwww.andelssuites.com

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