Related articles
Business NewsBusiness News
In Business News this week: the government presents its anti-crisis plan
hot on the heels of a shares and currency meltdown; the home loans market
shows deeper signs of suffering; a potential rival to ČEZ shapes up; and
the energy giant seeks to change its image.
More
Current AffairsAll down for the crown?
The Czech crown has plunged against the euro and US dollar in recent weeks
on fears over the health of the local and Central European economies. It has
fallen 10 percent against the euro and 19 percent against the dollar so far
this year, making Czech exports cheaper but foreign holidays more
expensive. I asked Patria Finance analyst Tomáš Vlk how low the crown can
go and whether the slide is good or bad news for the future.
More
Business NewsBusiness News
In this week's Business News: the Czech crown is continuing a remarkable
slide; the Finance Ministry has confirmed that plans to sell off Ruzyňe
Airport in Prague are being placed on ice; the leader of the main
opposition party has accused the government of “doing nothing” to fight
the economic woes that are facing the Czech Republic; Czech beer production
fell in 2008, following record-breaking levels in 2007 and the country's
chief gas provider says that renewed gas supplies from Russia via Ukraine
are now fully meeting the needs of Czech customers.
More
Business NewsBusiness News
In Business News this week: the Czech crown falls significantly against the
US dollar, while also losing value against the euro; the Prague Stock
Exchange seesaws again; a sharp decline in the volume of mortgages
provided
by Czech lenders slows considerably in the third quarter; and Czech
betting
companies are fighting for a slice of the lucrative on-line gambling
business. More
Business NewsBusiness News
In the week’s business news: the Czech government goes out of its way to
reassure the public that the Czech economy will not be directly threatened
by the global economic crisis, although a fall in growth is expected. A
leading Czech glass maker axes two big companies, putting 1,800 people out
of work, and 700,000 households are bracing for a steep rise in rents next
year.
More
Current AffairsCzech government still making no plans for euro-adoption
Despite its fast-paced economic growth and strong currency the Czech
Republic will most likely be one of the last countries in central Europe to
join the eurozone. If Poland meets its target to adopt the common European
currency in 2011, all of the Czech Republic’s neighbours will be using
the euro in less than two and a half year’s time. The president of the
European Commission, Jose Barosso, last week urged the Czech Republic to
set a target date for euro adoption, but it seems unlikely that the date
will be set this year. I spoke to economist Tomáš Sedláček and began by
asking him why the Czech government is so unwilling to commit:
More
Business NewsBusiness News
In Business News this week: Czech business leaders, feeling the squeeze of
the strong crown, call for a euro adoption target date – not this year,
says the government; Prague Airport is shedding a 10th of its workforce
ahead of its planned privatisation; the Czech Republic ranks among the
worst states in an international study of how long it takes to deal with
taxes; the number of debit and credit cards issued by Czech banks keeps
increasing; and two Czech firms rank in the first five in a regional Top
500.
More
Letter from PragueLong history comes to end with discontinuation of heller coin
So, the heller is no more. Last Monday, five years after the disappearance
of 10- and 20-heller pieces, the 50-heller coin ceased to be legal tender.
I have to say it was rather hard to take hellers seriously, given that they
were worth almost nothing, were as light as a feather, and made of
aluminium.
More
+1
+10
