The central bank has unexpectedly cut interest rates by a quarter of a percentage point, with the key repo rate down at 2.25 percent as of Friday. According to analysts, the reason for the decision was a new inflation forecast revised downwards and a stricter monetary policy due to the strong crown. The crown reaction came immediately, with a fall by 20 hellers to the euro to 30.25 crowns to the euro. Tied to the repo rate of the central bank are interest rates on bank deposits and loans.
The Czech Finance Minister, Social Democrat Bohuslav Sobotka, has issued a more optimistic forecast for the country's economy in 2005, predicting growth of 3.8 percent over earlier forecasts of 3.6 percent. A cut in taxes paid by lower and middle-earning groups planned by the ruling Social Democrat party should drive the economy's growth, Mr Sobotka told journalists. The central bank, Czech National Bank, predicts that the Czech economy will grow by 3.2 to 4.4 percent.
The mobile phone operator T-Mobile attracted the highest number of new clients last year, while Oskar Mobil saw the lowest increase in client numbers, the companies said. T-Mobile raised the number by 410,000, Eurotel by 380,000 and Oskar by 280,000 users. At the end of last year, there were 10.78 million active mobile phones on the Czech market. In the last quarter alone, when operators launched massive pre-Christmas campaigns, the operators lured some half a million new clients. At the end of last year, there were nearly 106 mobile phones per 100 people. Experts say that despite that, there is quite a large group of people without a mobile phone. Some 15 to 20 percent of users have more mobile phones than just one.
A Czech delegation joined world leaders and Holocaust survivors gathered in the Polish town of Auschwitz on Thursday to pay homage to the memory of millions of Holocaust victims on Holocaust Memorial Day. In the Czech Republic, among other special events, a plaque dedicated to people who helped save Czechoslovak Jews from the death camps has been unveiled at Prague's Pinkas Synagogue. It bears the names of the 160 people who saved around 200 Jewish children during the war. Some 80,000 Czechoslovak Jews perished in the Holocaust.
The Cabinet has approved a bill limiting the number of benefits enjoyed by deputies and senators. If approved by both houses of Parliament, the bill would strip deputies and senators of certain advantages such as free plane tickets for trips around the Czech Republic, free petrol cards and generous travel allowances on trips abroad. By cutting these perks Parliament would save about 4 million crowns a year. The head of the governing Christian Democratic Party who presented the proposal, said that maintaining these benefits in the face of cuts in public spending would be immoral and inexcusable.
An asteroid has been named after a Czech Jewish boy who became famous almost 60 years after his death in Auschwitz when a picture he drew while incarcerated was taken on the ill fated 2003 Columbia space shuttle flight. Peter Ginz was gassed at Auschwitz at age 16. He left behind a collection of drawings, his diary, some short stories and an unfinished novel. His diary is to be published next month. According to Czech astronomer Milos Tichy, the International Astronomy Union has approved Ginz's name for asteroid number 50413.
The government has moved to prevent abuse of the country's asylum system. In a draft amendment to the asylum law it proposes ways of facilitating the work of the courts and speeding up the asylum process. The bill would also shorten the time period during which the courts must deal with appeals and complaints. At present many asylum seekers are intentionally procrastinating, filing complaints and repeatedly appealing the court's decision in order to buy more time, or even a chance to make an illegal crossing to a neighbouring state. In the course of that time the state has to cover the cost of accommodation, food, health care and pocket money for each applicant.
The Constitutional Court has ruled that the Senate elections in the Prague 11 constituency are valid and confirmed the victory of Jan Nadvornik of the Civic Democratic Party. The Constitutional Court thus overturned the ruling of the Supreme Court which earlier invalidated the outcome of the elections in Prague 11 on the grounds that the election campaign had been conducted in a dishonest manner, in violation of the election law. This was in reference to a number of slanderous articles against the unsuccessful candidate which appeared in the local papers. Political observers say the Constitutional Court's ruling has set an important precedent.
A plaque dedicated to people who helped save Czechoslovak Jews from the Holocaust will be unveiled at Prague's Pinkas synagogue on Thursday. The plaque will be unveiled by the Prague Jewish Community and the Hidden Child Foundation and will bear the names of 160 people who saved around 200 Jewish children during the war. Some 80,000 Czechoslovak Jews perished in the Holocaust.
The Czech Republic intends to close down some of its embassies and consulates abroad due to planned cuts in public spending. The decision was also made in view of the fact that after the country's entry to the European Union in May of last year, Czech interests are protected as part of the EU common policy. According to an unnamed source from the foreign ministry this cost-cutting measure should affect eight embassies in Africa and South America. The Czech consulate in neighbouring Slovakia will also be closed down.
Positive news for Czech consumers as EU readies anti-dual food quality rules
Czech town offered million hours of free porn in promotional move
Proposed new Prague development framework sets urban targets for future decades
Most successful ever Czech crowd funding project fuels relaunch of iconic Čezeta scooter
Czechs drinking less beer