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Round-up of business news this week: The government approved the draft
budget for 2017; Foreign debt rose to over 3.350 trillion crowns in second
quarter; Škoda Transportation completed the first part of a major German
contract; Bělobrádek apologised for VAT confusion; top brewer says it
Czech companies are beginning to sell products through major internet
retailers like Amazon or China’s Alibaba. According to Czech Radio,
domestic companies selling through international e-commerce retailers now
number in the dozens.
The Czech Republic’s economic boom has left many companies short-staffed
and desperately seeking employees in order to be able to meet demand.
Despite the fact that Czech labour offices currently register 390 thousand
unemployed, companies are increasingly dependent on foreign labour.
The Czech government on Wednesday approved its draft budget for 2017. The
proposal envisages a deficit of 60 billion crowns and promises wage hikes
for civil servants, doctors, nurses and teachers. While the opposition has
criticized it for “excessively generous handouts”, the ...
The Czech minister of agriculture has presented a plan aimed at halting the
abandonment of small villages. The scheme would offer incentives to both
employers and employees in municipalities with a population of 500 or less.
However, the minister of finance takes a dim view of the measures.
The popular Czech soft drinks producer Kofola ČeskoSlovensko confirmed
this week its latest acquisition to its broadening portfolio, this time the
Croatian brand-name mineral water Studenac, owned by Podravka. The two
firms signed an agreement on the sale but did not release details about ...
It appears that old-age pensioners in the Czech Republic will be able to
look forward to CZK 300 more a month starting from next year. The coalition
parties have taken potshots at each other over who can take the credit,
though ahead of a vote this week they are in broad agreement on the
The operation of the Blanka tunnel complex in Prague costs the city around
20 million crowns a month, deputy mayor of Prague Petr Dolínek told the
Czech News Agency on Friday. The controversial tunnel, which cost the tax
payers some 43 billion crowns, was opened on September 19 last year. ...
In Business News this week: Czech banks boost collective profits; apartment
prices surge in second quarter; uncertainty over future of Aircraft
Industries; ČEZ extends outage for Temelín reactor; exports to Russia
continue to slide.
The Czech Republic’s most powerful lottery and betting company Sazka is
on Thursday marking 60 years of existence. Sazka, which operates the
popular Sportka lottery, has survived the collapse of communism and
bankruptcy and last week registered its second biggest payout ever.
Czech President Milos Zeman, 71, will announce in early March 2017 whether he is going to run for president again in the elections scheduled for early 2018, he told public Czech Television (CT) tonight.
Czech Finance Minister Andrej Babis (ANO) will wait until the conflict of interest bill is assessed by the Senate and President Milos Zeman and then he will consult lawyers on how to react, he said after the bill that restricts ministers' business activities was passed by the lower house ...
The Czech Chamber of Deputies passed an amendment toughening the conflict of interests law including some restrictions of ministers' businesses that are evidently aimed at Finance Minister and billionaire Andrej Babis (ANO) yesterday.
Czech exports to Russia have continued to fall in 2016. According to
figures released by the Czech Statistics Office on Tuesday, exports to
Russia fell by 12 percent in the first six months of this year compared to
the same period last year. This follows a year-on-year fall in the volume
A Czech-Slovak chain of pet shops, Pet Centres, is planning to open a
network of dog hotels in the Czech Republic and Slovakia, the daily
Hospodářské noviny reported on Tuesday. The company, owned by former
managers of the Czech-Slovak investment group Penta, is set to build 17
hotels. Their ...
The Czech Republic will push for deepening EU security, both external and internal, and restart of the member states' coming closer to each other economically at the summit in Bratislava on Friday, according to the mandate for PM Bohuslav Sobotka that the cabinet approved tonight.
Czech President Milos Zeman and Austrian presidential candidate Norbert Hofer would like to strengthen the role of Central Europe in the European Union, the latter told journalist after their meeting yesterday.
The recently retired governor of the Czech national bank has pitched into
the debate about the current level of wage deals in the Czech Republic,
which divides employers and unions. On Czech television’s flagship
discussion programme, Miroslav Singer said wage settlements of around 5
percent do ...
In Business News this week: Škoda Auto seen rolling out four new models in
2017; Average wages rise by 3.9 percent in second quarter; Union groups
call for hike in minimum wage to 11,500 crowns a month; Central bank
announces modest foreign currency interventions in July; Finance ministry
State-owned forestry company Lesy ČR is facing a serious bark-beetle
infestation which has affected this year’s production of timber, the
daily Hospodářské noviny reported on Friday. The company announced this
week that up to 70 percent of the all its timber production is so-called