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Reuters says Czech ministries want free emissions vouchers for power
producers; economy grew by 2.4% in the last quarter; the court approves the
sale of Sazka by tender; woeful 2Q results for ČEZ; and the central bank
says the country will have met the conditions for adopting the euro next
year. More
Current AffairsUnemployment and industrial output figures point to slow-down of Czech economic recovery
Amidst fears of a new wave of global recession, the Czech economic recovery
shows signs of slowing down, with industrial output decreasing in June and
unemployment on the rise in July. According to data released by the Labor
Ministry, the unemployment rate grew slightly to 8.2 percent in July, the
first time the figure has swelled since the start of this year. Similarly
worrying is a slow-down in industrial output with a growth of only 7.4
percent year-on-year in June as compared to 15.2 percent in May. I spoke to
the Raiffeisenbank’s chief economist Pavel Mertlík about the
significance of these figures and how a possible global economic recession
might affect the Czech Republic. More
Business NewsBusiness News
Finance Ministry raises growth outlook for this year and the next; ECM Real
Estate declared bankrupt; Central European banking has stabilised; Forbes
magazine is coming to the Czech Republic; Zuno Bank opens its virtual doors
to Czech customers. More
Business NewsBusiness News
Economic growth exceeds expectations; exports up by 30% in 2010; Škoda
Auto enjoys high sales in May; inflation speeds up to 2.0; Wizzair boosts
Brno airport traffic with a new route to Eindhoven. More
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In this week’s business news: companies from industries with a high
demand for technologies fuel Czech GDP growth; energy regulator predicts
electricity price hike; foreign explorers to look into if Czechs have shale
gas; Bahrain no longer offshore option for Czechs; modernized railway line
fails to provide a faster connection to Germany; and Czech Railways post a
modest profit for the first quarter of 2011. More
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Nice numbers across the board for Czech economy; inner-circle Sazka critic
sacked; slim pickings for fruit farmers; a new civil code brings big
changes; and fair trade is fairly profitable. More
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In Business News: importer RWE Transgas to try and renegotiate
disadvantageous contract with Russian gas supplier; the Czech National Bank
revises growth numbers downwards; new scientific facilities in the Czech
Republic to see 14 billion crowns in European funds; Czech exporters
unsatisfied with ministry plans to extend existing support network. More
Business NewsBusiness News
In this week’s Business News: Czech 2010 growth revised downwards; surge
in real estate investments seen; coal limits look shaky as heat plants
search for supplies; richest Czech falls down Forbes’ ranking; and Prague
centre shops rapped for ripping off customers. More
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