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Signs Of a Czech Financial Revolution?

I like Prague, it’s full of surprises. It’s a city of contrasts.  And this is also reflected in the clients we meet as financial advisers. The Brits who move here do so for reasons you won’t find in any of our other 73 offices around the globe. We meet Prague residents regularly and the ... more >>

Prague Cryptocurrency

By the end of last year, only 2 buildings in the world have been bought using cryptocurrency, and one of them was in Prague. The property, an apartment in the Strasnice district, was sold for 35 Bitcoins, the equivalent of over 5 million Crowns. more >>

The operation of an exchange bureau - here and abroad

Prague money exchange offices are often discussed in the media in fairly negative terms. Is Prague the only European city where tourists pay commission on money exchanges? What is the situation in the centres of other popular destinations in Europe? Is it time to ‘put the record straight?’ more >>

ŠKODA AUTO delivers more than 1.2 million vehicles in 2017

ŠKODA AUTO set a new sales record in 2017. The traditional Czech brand’s global deliveries rose by 6,6% to 1,200,500 vehicles (2016: 1,126,500). For the fourth time in a row, ŠKODA AUTO sold more than one million vehicles in a year. In addition to the best-selling ŠKODA OCTAVIA, the most ... more >>

Czech crown fastest growing currency

The Czech crown and Polish złoty were the two fastest growing currencies in 2017. On the other hand, the dollar index, which tracks the US dollar's exchange rate against a basket of six other major world currencies, has fallen by about 9 percent this year. more >>

City Council approves EU funds for projects

The City Councilors agreed to support 46 projects with funds from the EU’s Operational Program Prague – Growth Pole of the Czech Republic (OP PPR). Applicants include Prague schools and kindergartens, universities, the municipality itself, the Prague 16 district and the Prague Public Transit ... more >>

Prague's 2018 budget is 'conceived as balanced'

The Prague City Council approved a municipal budget for 2018 with total expenditures is Kč 70.3 billion. Current expenditures of Kč 53.6 billion and capital expenditures of Kč 16.8 billion are expected. more >>

Komerční banka named Bank of the Year

The best bank in 2017 in the Czech Republic was Komerční banka, which also won last year. The best insurance company prize went to Allianz for the third time in a row. In the Mortgage of the Year category, Hypoteční banka won for one of its products. more >>

ŠKODA to produce electric cars in Mladá Boleslav from 2020

ŠKODA Auto is going to produce models that run purely on electric at their Mladá Boleslav site. As of 2019, the brand will also be manufacturing electrical components for plug-in hybrids. The production of electric vehicles and parts is a significant step in the implementation of the brand's ... more >>

Czech economy up 5 percent since last year

The seasonally adjusted Czech gross domestic product (GDP) was up 0.5 percent in the third quarter of 2017 compared to the previous quarter, and up 5.0 percent compared to the same period last year, according to the preliminary estimates from the Czech Statistical Office (ČSÚ). More detailed ... more >>

ČNB likely to raise interest rates

The Czech crown broke the border of Kč 25.60 per euro Oct. 24, reaching Kč 25.57, and is at its strongest since October 2013. The strengthening was helped mainly by the growing investor expectation that the Czech National Bank (ČNB) will raise interest rates for the second time this year. ... more >> increases profits

The biggest Czech internet company increased its profit by 9 percent to Kč 1.1 billion in 2017, and expanded both sales and the number of employees. runs a search portal in Czech plus several other sites for news, videos, maps and other services. The company also offers ... more >>

Unemployment in Prague drops

Unemployment in Prague after four months of stagnation has fallen to 2.7 percent. The number of open jobs in September decreased slightly to 38,403 from 38,775 in August. The number of open jobs increased from January to August. The number of nonworking people in Prague decreased by about 6 ... more >>

Wage gap closing between Prague and the regions

The difference between the average salary for people in Prague and for people working in other areas is slowly closing, as some regions are adding more higher-pay jobs. Since the end of the economic crisis, the wage gap has closed up by some Kč 500. more >>

Prices up 2.5 percent from last year

Consumer prices in August dropped by 0.1 percent compared with July. But compared to last August, consumer prices grew 2.5 percent, according to the Czech Statistical Office (ČSÚ). more >>

GDP growth beats expectations

The Czech economy was successful in the second quarter of 2017, according to the Czech Statistical Office (ČSÚ). A preliminary estimate showed that the gross domestic product (GDP), adjusted for price effects and seasonally adjusted, increased in the second quarter of 2017 by 2.3 percent ... more >>

ČNB changes interest rates

Interest rates are going to increase in the Czech Republic for the first time since 2008, the Czech National Bank (ČNB) announced. more >>

O2 ČR will continue to use the name

Telecom operator O2 will continue to use the name until 2022. Originally the operator was to stop using the name by 2019. The announcement was made as part of 02's half-year report, which also showed that profit increased by 3.6 percent. more >>

Butter slides to record price

Prices for butter have been rising and are now at record levels. Butter is 42.6 percent more expensive than it was last year, and on average is Kč 47 for 250 grams. This stands out against consumer prices in general which were unchanged, according to the Czech Statistical Office (ČSÚ). more >>

Car sector revenues set new record

Revenues of automakers and car part suppliers in the Czech Republic crossed trillion crown mark for the first time to set a record Kč 1.02 trillion, according to the Automobile Industry Association (SAP). Revenues were up 12 percent on the year. more >>
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