PragueConnect.cz - Economy

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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 >>
 

AERO will participate in the production of the Airbus A400M and A350

AERO Vodochody AEROSPACE has signed a contract with the German company MT Aerospace about supplies of three packages of components for Airbus A400M and A350 aeroplanes. The contract will open space for the company to other contracts for a new transport airplane. The first components are to be ... more >>
 

UCB: An end of the Schengen Area would make CR lose CZK 12bn per year

An end of the Schengen Area and resumed border control would mean a slowdown of the movement of goods and thus of competitive ability in export for the Czech Republic. This is according to an analysis by UniCredit Bank Czech Republic and Slovakia (UCB). A decrease in the export of sensitive ... more >>
 

Analysts: Inflation will increase to 1.8 % at end of year

Inflation in the Czech Republic will at the end of 2016 increase to 1.6 %. This was stated in reaction to data provided by the Czech Statistical Office (CSÚ) by Raiffeisenbank chief analyst Michal Brožka. Komercní Banka analyst Viktor Zeisel expects that CNB will react to growing inflation at ... more >>
 

Analysts: Growing external demand to support industry

Since September 2015, industrial production has been negatively influenced by the shutdown of operations in the Dukovany nuclear power plant and in the segment of production of chemical substances due to the repairs at the Unipetrol chemical plant following the incident in August. In connection... more >>
 

CNB: Public finance deficit to reach zero in 2017

The public finance deficit to GDP will show a zero level in 2017. This is predicted by the Czech National Bank (CNB). The public finance deficit will likely reach -0.5% of GDP in 2016 after -1.3% of GDP in 2015. The total public debt to GDP will likely decrease to 39.7% in 2016 and 38.4% in ... more >>
 

EC CR to launch Gateway to Persia program

The Economic Chamber of the Czech Republic (HK CR) begins on March 1 a new comprehensive program to support Czech companies interested in the developing the Iranian market. The program marked Gateway to Persia will offer business forums and roundtables and also support for entrepreneurs in the ... more >>
 

SŽDC invests CZK 16.3bn in railroad system

Railway Infrastructure Administration (SŽDC) plans to invest a total of CZK 16.3bn in the railroad system in the Czech Republic in 2016. Some CZK 9.2bn will be used for the maintenance, CIANEWS was told by SŽDC spokesman Marek Illiaš. According to his words, hundreds of millions of Czech crowns... more >>
 

MF: Budget impact of lower tax on beer to reach CZK 160m

A negative budget impact of the considered reduction of VAT on beer delivered with help of a service in restaurants from 21 to 10% will likely reach CZK 160m. A considered reduction of VAT on non-alcoholic drinks served in restaurants will likely cause a decrease in the tax collection in the ... more >>
 

Analysts: Position of manufacturing segment improves

The position of the Czech manufacturing segment remains strong and still improves. This was stated by ING Bank’s head economist Jakub Seidler in relation to PMI data provided by Markit/HSBC. According to Raiffeisenbank’s analyst Daniela Miluèká, the index improved thanks to acceleration in new ... more >>
 

FinMin: GDP to grow by 2.7% in 2016 and 2.6% in 2017

The real GDP of the Czech Republic will grow by 2.7% in 2016. This stems from a macroeconomic prediction of the Ministry of Finance of the Czech Republic (FinMin). The ministry predicts a growth in GDP by 2.6% in 2017. The average inflation rate will reach the value of 0.5% in 2016 and 1.6% in ... more >>
 

Czech Airlines reports first annual profit in years

Czech flag carrier stabilized its economy in 2015. As a sign of better economic results, both pilots and flight attendants are being hired to cover an increase in planned operating performance. more >>
 

GE Aviation to build USD 400m engine development HQ in CR

GE Aviation, a General Electric division, will build its new headquarters for the development, testing and production of turbo-propeller engines in the Czech Republic. It confirmed its intent on January 18, 2016 in a joint memorandum with the Czech government. In 2020, the centre will start ... more >>
 

Red Hat Czech to increase staff number by 20%

Red Hat Czech will continue hiring employees in 2016 as well, especially for software development and testing. It expects their number to increase by roughly 20 pct, which is the same as in previous years. In 2015, the number of employees grew 18 pct to more than 900. For CIANEWS, this ... more >>
 

CNB: Banks expect increased demand for corporate loans

In the first quarter of 2016, banks are expecting a further loosening of credit standards and an increased demand for corporate and consumer loans. They are predicting no change for housing loans. In the fourth quarter of 2015, competitive pressure and improved perception of risks regarding the... more >>
 

AERO to create 250 new jobs

AERO Vodochody AEROSPACE plans to generate about 250 new jobs in 2016. The company hired nearly 180 new employees in 2015, CIANEWS was told by spokeswoman Tereza Vrublová. According to her words, the company lacks technology experts, engineers, or quality experts. The company needs also air ... more >>
 
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