PragueConnect.cz - Economy

PragueConnect.cz is providing resources for English speaking Business Professionals living in, visiting, or interested in Prague and Czech Republic. Browse our latest Economy articles, if you have interesting content to share with our users, please feel free to contact us anytime to discuss with us possible publication on PragueConnect.cz!

Kellner still richest Czech

There was no real surprise in who the richest Czech is. The annual Forbes magazine list once again put Petr Kellner of PPF Group on top. The magazine estimated his fortune at $12.2 billion. This still wasn't good enough to crack the top 100 in the world. He came in at number 105. more >>
 

Expobank CZ to enter the Serbian market

Cyprus Popular Bank agreed to sell Marfin Bank to Expobank CZ on 30 September 2016. Following approvals by regulatory authorities, the transaction was completed on 28 February 2017, and Expobank CZ became the sole shareholder of Marfin Bank JSC Belgrade. Marfin Bank plans to change its business ... more >>
 

Employment sets new records

Employment in the Czech Republic set a new record at the end of 2016, and women have been getting hired at a faster pace than men. The employment rate of 15 to 64 year olds was 72.9 percent, the highest since the Czech Republic became independent in 1993. more >>
 

Daimler may build Czech warehouse

German carmaker Daimler is looking for a location to build a distribution center for spare parts, and the Czech Republic is under consideration. The company is planning to expand its global logistics network and is looking for a location in Central and Eastern Europe to better manage logistics... more >>
 

Czech airspace saw record traffic

Czech airspace saw 836,917 aircraft movements in 2016, an increase of 6.95 percent year on year. This was the third record-breaking year in a row. Since 2002, when the number of movements was 411,256, the air traffic over the country has doubled, according to Air Navigation Services of the ... more >>
 

Filing US Taxes Abroad

For American citizens living and working in the Czech Republic, figuring out how to file annual Czech income taxes can be a challenge. Add the responsibility of filing US taxes on all income earned (both within and outside the US), and the situation becomes even more complicated, particularly ... more >>
 

Multilingual Jobspin.cz Job Fair coming to Brno in February

Multilingual JobSpin.cz Job Fair powered by Daily Monitor is a must attend event for all those who are seeking new career opportunities in Brno, Czech Republic. The event is tailored for international audience in Brno - people with outstanding language skills and international educational and ... more >>
 

Business associations challenge closing shops on holidays

Czech business associations have filed a constitutional complaint against the law banning the sale in large shops on selected holidays, the Chamber of Commerce (HK CR) has confirmed to CTK. more >>
 

Václav Havel Airport sets new record

2016 was the most successful year since 2008, when 12.6 million passengers passed through what was then called Prague Ruzyně International Airport. more >>
 

Rockaway Capital to take over UNISTER Travel

The insolvency administrator of the UNISTER Group, Prof. Dr. Lucas F. Flöther, has sold the UNISTER travel business to an international investor. The acquiring company is the renowned Rockaway Capital SE www.rockawaycapital.com, specialised in the digital industry and involved in, among others, ... more >>
 

Congress Center Prague to get overhaul

Few people are fans of the former Palace of Culture building in Prague's Vyšehrad district. Some Kč 1 billion will be spent to transform tits interior and surroundings. The neo-functionalist building was designed in the 1970s and opened in 1981. It has been known as the Congress Center ... more >>
 

Prague's economy growing again

The share that Prague continues to the Czech economy grew again after several years of decline. The capital, which is also counted as a region, contributes about one-quarter of the country's GDP. Last year it rose two-tenths of a percentage point to 24.4. percent. It had been in decline since ... more >>
 

Japan's Asahi to acquire Plzeňský Prazdroj

Japanese brewery Asahi Group Holding has reached an agreement to acquire Plzeňský Prazdroj and other Eastern European brands from Anheuser-Busch InBev. The acquisition for €7.3 billion is the largest in Asahi's history. The other brands are Polish brand Tyskie and Lech, Slovak brand Topvar, ... more >>
 

Škoda Auto increased operating profits by 28 % to EUR 940m

ŠKODA AUTO has posted for 1-3Q 2016 a 28.1% y/y increase to EUR 940m in operating profits. In the monitored period the automaker sold 606,00 vehicles. more >>
 

Colliers International Retail Market Overview Q3 2016

Colliers International today released its Q3 retail market report for the Czech Republic, which confirms that only two shopping centres will be completed in 2016 due to the slow-down of construction activity in response to a perceived market saturation in current economic environment. The report... more >>
 

Is it better to be employed or start your own business?

When people hear the word “entrepreneurship” many picture certain barriers, obstacles and a huge administrative burden. Others picture freedom in regards to creativity, time flexibility and financially. Just like everything else, having your own business and being employed both have their pros ... more >>
 

Prague The Style Outlets to open near airport

The unfinished shopping mall near Václav Havel Airport Prague may finally open. New investors plan to turn the unused building into a fashion outlet called by the somewhat awkward but trendy looking name Prague The Style Outlets. The companies Neinver and The Prague Outlet plan to invest over Kč... more >>
 

The legal aspect of short term rentals with Airbnb

The Czech Republic, especially its capital Prague, has seen in recent years a surge in the number of real estate offered for short-term rental by their owners or tenants (1). Amongst these short-term rentals includes the Airbnb service, which serves as an online marketplace where home or flat ... more >>
 

Volkswagen Financial Services signed record millionth car financing contract

Volkswagen Financial Services, the leader in the Czech car financing market, signed a record millionth car financing contract on 26 th September. The company acquired its millionth customer after 24 years of its operations in the Czech market. The owner of the new car has received a CCS card ... more >>
 

Marks & Spencer to launch food-only stores in ČR

UK-based retailer Marks & Spencer announced that it will open food-only (M&S Simply Food) shops in the Czech Republic. The retailer already has food departments in its Prague outlets, located mostly in shopping malls plus it flagship at Wenceslas Square. The company is also present in eight ... more >>
 
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