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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

Government approves greater liberalisation of Czech rail market

The Czech rail market is set to open up further to competition after the government’s approval of liberalisation plans on Wednesday, the Czech News Agency reported. According to information posted on the Office of the Government’s website, tender processes for the right to run services on five ... more >>
 

Škoda profits climb for third record-breaking year in row

Škoda Auto has just enjoyed the most successful year in its history. The Czech-based carmaker saw its profits climb by just over a third in 2016 to reach CZK 25.7 billion. It was the third year in succession that Škoda, the country’s biggest exporter, made a new record profit. more >>
 

New style brainstorming marathon comes up with ideas for Prague metro system

Prague has just hosted a hackathon with global participation with the target to brainstorm and come up with solutions for cities like the Czech capital where getting from A to B can be a stressful and time consuming process. more >>
 

ČEZ suffers in 2016 from continued weak power prices

The Czech Republic’s biggest electricity producer, almost 70 percent state owned ČEZ, delivered its 2016 results on March 21 with the outcome largely disappointing analysts. more >>
 

Police kept order as fast food revolution began in Prague 25 years ago

A taste of the West was the slogan used by another very different company, though in this case it was perhaps more appropriate. And the interest was huge when the first McDonald’s hamburger restaurant opened its doors 25 years ago in what was still Czechoslovakia on March 20, 1992. more >>
 

“Plane of the future” will be one of the main draws in Czech pavilion at Expo 2017

An electric-powered plane of the future will be one of the highlights at the Czech pavilion at Expo 2017, which opens later this year in Astana, Kazakhstan. The news was announced this week by one of the joint-CEOs of Arteo, the company in charge of putting together the Czech exhibit. more >>
 

Prague-based company seeks worldwide markets with 3D laser technology for road repairs

A Czech company is using 3D laser technology to offer more accurate road repairs and resurfacing and is targeting a worldwide market that could result from the know-how. more >>
 

Prague city council looks at construction of social housing

Prague City Hall is planning to build hundreds of council houses within the next few years, the daily Hospodářské noviny wrote on Thursday. The first apartments are set to be built at the Černý Most housing estate within the next two years. According to the daily, City Hall plans to select more ... more >>
 

New privacy rules coming into effect

Privacy will increase substantially as companies and other entities operating in the Czech Republic will be facing stricter rules on the protection of personal data. Leaks of personal data will face higher fines than currently apply. Companies will be forbidden from using personal data to ... more >>
 

Airport shareholder tussle cast shadow over proposed Pardubice Ryanair link

Low cost airline Ryanair has a basic but successful business model: it cuts costs to the bone and often operates out of out of centre airports which, to put it bluntly, are begging for the business. more >>
 

Czech jobless total seen shrinking to record low

The Czech Republic is basking in the fact that it has the lowest unemployment rate in the European Union, 3.4 percent according to the Eurostat January figure. The Czech national figures are a bit higher, but the basic message is the same. And the good news from the latest forward looking survey ... more >>
 

Raid on online grocer highlights bigger foreign labour problem

A police raid on the country’s second biggest online grocer, which resulted in the detention of 85 foreign nationals on suspicion of working illegally in the country, has thrown light on a much bigger problem. The record low unemployment rate and the restrictions on the number of Ukrainian ... more >>
 

Mladá fronta Dnes launches Fix Pothole campaign

With the arrival of spring road maintenance crews are assessing the damage to roads caused by the harsh winter and the news is not good. According to preliminary estimates the costs could be 50 to 60 percent higher than in previous years. more >>
 

Foreign police raid on warehouse of second biggest online grocer

The second largest online grocer on the Czech market – Rohlik.cz had to suspend operation on Thursday following a raid by the foreign police on the company’s Prague warehouse. It was the second police inspection in the past seven months at the e-shop which is trying to increase its share on the ... more >>
 

Faster inflation likely to speed up end of forex interventions

Czech inflation accelerated in February to 2.5 percent year-on-year from January’s 2.2 percent, the Czech Statistics Office announced on Thursday. Compared to the previous month, consumer prices went up by 0.4 percent. Inflation growth was the fastest since November 2012. more >>
 

CIA targeted Avast and AVG security programs

Documents released by Wikileaks show that the US Central Intelligence Agency targeted Prague-based Avast and Brno-based AVG among other internet security firms. The CIA has been developing methods to bypass computer security so it can spy on computers and mobile devices, according to the leaked... more >>
 

Government likely to support EC’s Anti Tax Avoidance Package

The Czech Republic appears it will support new European Commission rules on the taxation of large multinational corporations (under the EC’s Anti Tax Avoidance Package), writes financial daily Hospodářské noviny. The package is conceived to promote greater tax transparency and, the EC writes, to ... more >>
 

Czechs took out record number of loans in 2016

Czechs markedly ran up new debts last year, the daily Hospodářské noviny reported on Tuesday. The overall debt burden in 2016 amounted to nearly two trillion crowns. During the first three months of 2016 alone, Czechs took loans amounting to 150 billion crowns. According to the daily, the ... more >>
 

Prague College announces a significant increase in local students

Prague College, one of the Czech Republic's leading private universities, announces the start of its Spring semester, with students from all over the world having enrolled on new programmes in Accounting, Business, Fine Art, Graphic Design. IT, Computing, and Communications. more >>
 

Prague and Brno teaming up against Uber

Prague and Brno city administrations are working together on how to deal with the ride sharing service Uber. Prague Mayor Adriana Krnáčová (ANO) has started negotiations with the Brno Mayor Peter Vokřál (ANO) on changes in the framework for dealing with the drivers. She also wants to meet with ... more >>
 
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