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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 >>

Prague Hotels Achieve Highest Overall Customer Review Rating in Europe

According to a joint report entitled ‘Hotel Reviews: How Guests Rate Their Experiences in European Hotels’ conducted by Revinate and Colliers International, Prague ranks number one for 2015 with an overall score of 4.3 out of 5 stars based on an average of 822 reviews per property. more >>

Prague's Avast to acquire Brno's AVG for $1.3 billion

Prague-based security software firm Avast Software and AVG Technologies announced July 7 that they have entered into a purchase agreement where Avast will offer to buy all outstanding ordinary shares of AVG for approximately $1.3 billion. Both companies were founded in the Czech Republic in the ... more >>

CEEC: Public investors called tenders worth CZK 73.5bn

In 1Q 2016 public investors called 2,133 tenders on the Czech market. Their value reached CZK 73.5bn. This represents a 10.5% y/y increase in their number and a 26.1% increase in their volume. For both indicators this is also the most favorable quarter of the past three years. This stems from ... more >>

Mazars: Most firms submitted controlling reports in time

Most of the monitored companies that are monthly VAT payers submitted the controlling reports for January and February 2016 in time, a survey by Mazars has revealed. 92% of the firms had no communication with their tax offices and received no call for documents after the first two reports. ... more >>

PPF wants more ‘luxury’ profits on Pařížská

Wealthiest Czech Petr Kellner is working on another big development in Pařížská, Prague’s luxury shopping boulevard. An investment by the entrepreneur’s PPF group at an Art Nouveau property (number 22) will create further retail outlets, as well as luxury apartments, aimed at the affluent. more >>

ŠKODA AUTO delivered 276,600 vehicles in Q1

Between January and March 2016, ŠKODA AUTO delivered 276,600 vehicles worldwide, an increase by 4.3% compared to the same period a year ago. March deliveries increased 4.2% on the year to 106,300 units. The positive development in China and Europe contributed to the sales. According to Werner ... more >>

Bisnode: No. of unreliable taxpayers up to 4,762

There were totally 4,762 organisations registered in the register of unreliable VAT payers as of March 2016, up 351 month-on-month. Firms with revenues under CZK 10m or with no reported revenues accounted for 80% of all unreliable VAT payers. The statistics were published by consulting company ... more >>

IndustryMin: Business and Innovation Agency passes third reading

The amendment to the act on support for small and medium enterprises has passed the third reading in the Chamber of Deputies of the Parliament of the Czech Republic. The amendment will stipulate the formation of the Agency for Business and Innovation (API), which will be floated from ... more >>

Share of unemployed persons down to 6.3%

The Labour Office of the Czech Republic (ÚP ČR) registered totally 461,254 job applicants as of February 29, 2016, down 6,149 on January 2016 and 86,863 on February 2015. The share of unemployed persons dropped to 6.3% from 6.4% in January 2016. The unemployment rate totalled 7.5% in February ... more >>

CSU: GDP rose 4.3% in 2015

According to specified estimates, the Czech Republic’s GDP rose 4.0% on the year in Q4 2015. The economic rise in 2015 amounted to 4.3%. The Czech Statistical Office (CSU) said the development in gross value added (GVA) also corresponded to the ongoing growth in the local economic performance. ... more >>

C&W: Investments in Central Europe grow to EUR 3.16bn

In Q4 2015 investments in commercial property in Poland, the Czech Republic, Slovakia, Hungary and Romania increased from EUR 1.89bn in Q3 to EUR 3.16bn. According to figures published by Cushman & Wakefield Property Services Slovakia (C&W), a total of EUR 7.37bn was invested on Central ... more >>

Babiš's electronic tills nearly ringing

The government has managed to push its bill for the electronic, centralised registration of businesses’ cash sales [EET] through parliament’s lower chamber. In response, the right-leaning opposition has prepared the ground for a constitutional complaint. more >>

T-Mobile CR’s revenues increase to CZK 27.07bn

T-Mobile Czech Republic (TMCZ)’s overall revenues from mobile and landline services grew 12.5% on the year to CZK 27.07bn in 2015. Revenues from mobile services totalled CZK 18.18bn. The EBITDA was 9.3% and amounted to CZK 10.96bn. The average monthly revenue per user in mobile services dropped... more >>
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