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Business NewsBusiness News
In Business News this week, more gloomy macro-economic figures and
predictions of job losses; the Ministry of Finance’s menu for recovery; a
powerful silver lining for ČEZ; good and bad news for the richest Czech;
and proof that the economy really is in a hole.
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Current AffairsCzech unemployment rises sharply to 7.4 percent
The Czech Republic saw its unemployment rate jump to 7.4 percent in
February, a continued rise which surpassed grim forecasts from a month ago
by 0.6 percent. Some 429,000 people in the country are now out of work and
the number is expected to rise further as the recession deepens.
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Business NewsBusiness News
In Business News this week: an extraordinary media intervention by the
national bank; Škoda Auto steps up a gear; Green Cards look less rosy;
another high speed rail link is mooted; a new contender is linked to Czech
Airlines’ sale; and farmland disappears fast from the map.
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Talking PointAnti-crisis package sparks debate
The government has unveiled the main part of its plan to cushion Czechs
from the worst of the world financial crisis. In the process, it has
stirred up a fierce debate about whether it has made the right diagnosis of
the problem and found the right cure.
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Business NewsBusiness News
In Business News this week: the labour minister unveils plans to make it
easier to sack workers; the Czech EU presidency organizes a summit on
unemployment in Prague; Finance Minister Miroslav Kalousek says he will not
raise tax on cigarettes and alcohol; supermarket chain Billa starts to sell
its customers package holidays, and the country’s oldest tour operator
posts its biggest profits ever.
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Current AffairsRecord number of jobs cut in January
A record number of jobs were lost around the Czech Republic in January,
which saw the sharpest one-month rise in the unemployment rate in history.
With 6.8 percent of the workforce now jobless, the government is trying to
come up with new ideas to boost the economy and bring the decline on the
labour market to a halt. However, experts warn the situation is only going
to get worse. More
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