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Business News from Czech Republic by PragueConnect.cz and several sources, collected all on one platform! Want to have your business news listed with us?  Contact us

Inspectors point to errors of over CZK 100 billion in Ministry of Finance accounts

The Supreme Audit Office has uncovered inaccuracies amounting to over CZK 100 billion in the accounts of the Ministry of Finance for 2015. Officials say that shortcomings in the ministry’s accounts could impact the state’s final account and financial statements – and that the ministry even mixed ... more >>
 

It’s a car, it’s a plane… no, it’s an autogyro in the middle of Prague!

Nirvana Systems is a company based in Přerov, the Czech Republic, which for years has been building paramotors and kits and other gear for the sport of PPG – powered paragliding. The company was founded by successful pilot Pavel Březina and recently was involved in a major project which brought ... more >>
 

ANO leader Andrej Babiš against euro-adoption, favours multi-speed Europe

ANO leader Andrej Babiš, who is widely expected to be the country‘s next prime minister, has said he is opposed to the Czech Republic adopting the euro and is against any further integration with the EU. Speaking in a debate at Charles University, Finance Minister Babiš said he would ... more >>
 

New Brno digital lab aims to spark innovation in region

The biggest digital laboratory in the Czech Republic has just opened its doors at the Jihomoravské inovační centrum (South Moravian Innovation Centre, JIC) in Brno. Entrepreneurs and members of the public can sign up to use 3D printers and other cutting-edge technologies at Fab Lab Brno. more >>
 

City looks at Airbnb problems

Prague Mayor Adriana Krnáčová (ANO) wants to regulate short term rentals using services like Airbnb. She claims the city should resolve problems related to the service. Airbnb is an internet-based service that allows people to rent out their flats or spare rooms to tourists, who use the flats ... more >>
 

PM targets foreign companies over low Czech wages

Increasing wages, Prime Minister Bohuslav Sobotka has made clear, will be a key campaign theme for his Social Democrats in what is an election year; on Tuesday, he suggested with the mandate the government has left he will boost pressure on foreign owners of Czech firms to increase wages. ... more >>
 

Czech customers punish established banks

Nearly 15 percent of Czechs switched to a different bank last year to avoid paying high fees, the daily Hospodářské noviny reported this week. According to a new survey carried out by STEM/MARK agency for one of the country’s smaller banks, Air Bank, every seventh client swapped their bank last ... more >>
 

Czech tourism sector seeks room and directions for greater success

The Czech tourism sector has something to celebrate following the announcement last week of record incoming visitors for 2016. But all is not rosy in the sector with some arguing that more could be done to promote tourism and others saying that established businesses playing by the rules are ... more >>
 

Odometer fraud remains major problem, Czech Radio reports

Odometer fraud continues to be a major problem for buyers of second-hand cars in the Czech Republic. Past studies suggested that as many as 42 percent of vehicles sold, including imported cars, had seen their odometers tampered with. Findings suggested that cars with more than 100,000 kilometres ... more >>
 

Record number of tourists reported for 2016 with most day-trippers

The Czech Republic saw a record number of foreign tourists in 2016, with no fewer than 31.1 million entering the country. That number represented a rise of almost 12 percent on 2015. However, around three-fifths of visitors did not spend the night. more >>
 

Blacklist of tax offenders rejigged after previous model proves ineffective

Under new legislation Czech entrepreneurs and firms suspected of not paying their taxes are liable to find their names on a tax authority blacklist. Those given the “unreliable person” label may find it harder to do business, iHned.cz reported. more >>
 

Czech construction sector pins hopes on radical changes to building approvals

The clock’s ticking down on the current coalition government, so there was something of a celebratory air when one of its milestone pieces of promised legislation got through the lower house of parliament relatively unscathed. The construction law amendment was promised as a fundamental shake-up ... more >>
 

Czech exports have soared in the ever growing Australian market

It’s been a bit of a bumpy ride, but Czech exports to far away Australia are booming with total export turnover having almost tripled in five years. Australia has not been one of the biggest exports for Czech firms in the past. Distance and the lack of many solid cultural and historical ... more >>
 

JobSpin.cz Multilingual Job Fair – Back in Prague

The third JobSpin.cz Multilingual Job Fair Powered by Prague.TV took place last Saturday at Anglo-American University Prague. More than 700 people showed up wanting to discuss job opportunities. The candidates got on-point career consultations at 19 companies and organizations. more >>
 

Czechs seek to turnaround farm sector fortunes

Tomatoes from the Netherlands, garlic from China, lettuce from Spain, and apples from Italy. These are all examples of what is wrong in the Czech agricultural sector according to the government and many farmers’ leaders. A strategy aimed at boosting domestic production and exports has been put ... more >>
 

Employers question bill tightening restrictions on foreigners

Czech MPs have just passed a bill aimed at tightening conditions for foreigners and curbing economic migration. The government argues that the new rules are necessary for security reasons. But employers are struggling to fill positions and fear the legislation may make things worse. more >>
 

Your kids help us sell you products, says Hamleys operator Pavel Čmelík

One of the biggest retail outlets to open in Prague in recent years has been Hamleys, the first Central European branch of the famous UK toy shop. Hamleys was brought to the city by entrepreneur Pavel Čmelík, who had previously introduced other British brands, such as shirt- and suit-maker T.M. ... more >>
 

Prague airport outlines 27 billion crown investment plans

Václav Havel airport in Prague is set to see major investments over the next decade to accommodate the increasing number of passengers. According to the vision for the future presented this week on the occasion of the airport’s 80th anniversary, it expects passenger numbers to double within the ... more >>
 

Weak crown ends with strong Czech currency seen on the horizon

The Czech crown is no longer subject to the central bank’s low crown regime, or specifically the currency interventions that kept it at or below 27 crowns to the euro. But that does not mean a complete ‘hands off’ from the central bank. So if it’s not deliberately low, where will the crown now go? more >>
 

Czech plane maker Aero Vodochody mulls restart of L-159 series production

The aviation industry is one where the Czech Republic boasts a proud tradition but a reduced and sometimes problematic recent past. Now it appears to be on the rebound and the government has high hopes that the country’s biggest aviation company, Aero Vodochody, and one of its key aircraft could ... more >>
 
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