PragueConnect.cz - Business News in English

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

Czech labour minister seeks to speed up recruitment of Ukrainians

The Czech Republic has the lowest jobless rate in the European Union with vacancies now outstripping the registered unemployed. But moves to attract workers from Ukraine are being hampered by red tape. That sparked a lightning visit last week by the Czech labour minister and a raft of reforms are... more >>
 

Prague stock exchange seeks new start with small company offers

Prague’s stock exchange has had something of a roller coaster existence after it reopened in 1993, a few years after the fall of communism in 1989. It's now looking to boost its fortunes by raising cash for small companies. more >>
 

Czech group ousts Chinese flagship investor, CEFC, from control of local empire

The Chinese group at the centre of Czech moves to boost relations and economic ties with Beijing has suffered a high profile and embarrassing setback. A Czech investment group has moved to take control of the Shanghai-based group’s European activities based in Prague citing massive unpaid debts. more >>
 

Rail connection to Prague airport comes step closer

Work on the most complicated section of a rail connection between central Prague and the city’s Václav Havel Airport can go ahead after the withdrawal of a petition against it lodged with the Office for the Protection of Competition, iDnes.cz reported on Thursday. However, it will still be ... more >>
 

Small country Czechs ponder AI opportunities and challenges

Artificial intelligence is sometimes referred to as the new oil and is seen as one of the main drivers of economic growth in the decades going forward. For the Czech Republic, the most industrialised of all European Union countries, there are clearly a lot of challenges as one of the ... more >>
 

Czech telecoms market set for shake-up on Vodafone-UPC deal

The British-based Vodafone Group has agreed to buy US cable operator Liberty Global’s operations in four European countries, including the Czech Republic. The deal, which is likely to bring a significant change to the Czech Internet market, is valued at 18.4 billion euros. more >>
 

Czech economy still booming but how long can growth be sustained?

After strong growth last year, the Czech Republic’s economy continues to thrive. Indeed, according to freshly released preliminary figures, gross domestic product expanded by 4.5 percent in the first quarter. This was down from the 5.5 percent recorded in the final quarter of last year but ... more >>
 

ANO and Social Democrats reach agreement on changes to law on electronic cash registers

The ANO party which is trying to form a coalition government with the Social Democrats, with tacit support from the Communist Party, is preparing changes to the law on electronic cash registers introduced at the start of 2017 as a means of fighting tax-evasion. The third and fourth phase of ... more >>
 

Czech state forest boss felled amid calamitous bark beetle infestation

The head of the state-owned forestry company Lesy ČR, Daniel Szórád, has been sacked by the Minister of Agriculture in resignation Jiří Mílek. The reason? The continuing calamitous impact of bark beetle infestation in state forests and the former boss’s apparent inability to do something about it. more >>
 

Stork’s Nest farm owner called on to return disputed EU subsidy

The Central Bohemian Office in charge of EU subsidies has called on the present owner of the Stork’s Nest Farm and Hotel Compound, Agrofert’s Imoba company, to return the disputed EU subsidy over which Czech Andrej Babiš faces charges of EU subsidy fraud. The company says it is consulting the ... more >>
 

Czech power giant bolsters arguments for 60 year lifespan of nuclear plants

Czech power giant ČEZ says there’s no reason why its Temelín nuclear reactor can’t operate for 60 years or more. That’s one way to deal with the problems being faced building new nuclear reactors but it’s likely to raise hackles in some neighbouring countries. more >>
 

Czech electricity giant highlights positives from disappointing first quarter results

Czech electricity producer and distributor ČEZ has announced a 17 percent drop in first quarter profits to 7.3 billion crowns. Turnover dropped by 14 percent to 45.4 billion crowns. more >>
 

Czech supermarket runs with cricket flour offer

Penny Market is the first supermarket chain in the Czech Republic to sell bread made of cricket flour, news website Aktualne.cz reported on Wednesday. more >>
 

More and more Czech seniors travelling abroad

More and more Czech seniors are travelling abroad, according to numbers registered by domestic travel agencies. Last year, one, Invia, registered an increase of 11 percentage points when it came to clients 55 or older and in 2017 seniors represented one-fifth of the package vacation market. more >>
 

Czech National Banks sees slowdown in crown appreciation

In its latest forecasts, the Czech national bank sees a slowdown in price rises and the appreciation of the Czech crown. That last factor could open the door to interest rate hikes, but analysts see just one on the horizon towards the end of this year. more >>
 

Competition for cashiers forces Kaufland to up salaries

The Czech Republic’s discount chain Kaufland, owned by Germany’s Schwarz, has announced its plans to significantly increase employees’ salaries. more >>
 

25th Anniversary of Prague Accueil

The 25th anniversary of Prague Accueil, an association that is been helping French speakers arriving in the Czech capital. more >>
 

Press: Czechs seeking to protect know-how with law targeted at Chinese

Czech legislators are preparing a bill that seeks to prevent the theft of the country’s technology and is primarily aimed at Chinese investments, Hospodářské noviny reported on Wednesday. more >>
 

Corruption watchdog sounds alarm over fast track Prague metro JV decision

An anti-corruption watchdog has accused Prague city council leaders of rushing into a multi-billion crown joint venture connected with a new metro line without public discussion and explanations of what is involved. Transparency International warns that in the wake of previous big budget city ... more >>
 

Škoda to begin producing cars in Germany

The Czech carmaker Škoda Auto is set to begin producing cars in Germany, its CEO says. The reason is that the company’s plants in the Czech Republic and elsewhere in Europe are already going flat out and are struggling to meet demand. more >>
 
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