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Current AffairsDays numbered for 50 crown banknote
The days of the pale-red 50 crown banknote, featuring the likeness of Saint
Agnes of Bohemia, are numbered. In an aim to cut back on costs, the Czech
National Bank announced the paper 50 would be taken out of circulation by
the spring of 2011. It will be fully replaced by the copper and zinc 50,
which has gradually dominated the bill in recent years. More
Current AffairsCzech economy gets taste of deflation but prices seen returning upward
Prices are falling in the Czech Republic according to the latest official
figures. While that might seem to be a cause for celebration for shoppers
the phenomenon of deflation usually sends a chill down the spine of
economists and politicians. We look at the latest figures and the deflation
danger.
More
Business NewsBusiness News
In this week’s Business News: the rebounding budget proposal; the
ever-strengthening crown; new bosses to pilot Czech Airlines; a sour taste
for a top coffee seller; and a political boost for the ad sector.
More
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
Current AffairsAfter strong 2008 shine fades from Czech crown
The Czech currency is losing its muster. The crown, one of the world’s
fastest appreciating currencies in 2008, is now rapidly weakening. It has
sunk to its lowest point since November 2007, trading on Thursday at over
27 crowns to the euro and just over 20 crowns to the dollar. Chief
financial markets analyst of ČSOB bank Jan Čermák explains what is
happening to the Czech crown.
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