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Business News

29-02-2008 14:30 | Ian Willoughby

In Business News this week: power giant ČEZ sees its net profits rise by almost 50 percent; Czech agriculture shows record profits thanks to EU subsidies and higher prices; CzechTrade mediates CZK 3 billion worth of exports; after four years in the red Czech Airlines makes a profit; and a quarter of inspections of chain store outlets last year uncovered shortcomings.   More

Should Czechs rejoice or despair at the strength of their currency?

26-02-2008 14:13 | Coilin O'Connor

In 2001, if a Czech paid 50 dollars for a book or a record from an American-based internet vendor like Amazon, he would have forked out around 2000 crowns for his purchase. Today, he would only have to pay 800 crowns. That’s because the crown – or koruna as it’s called in Czech – has been steadily appreciating over the past decade. Since the start of the year, however, the gains it has made against other currencies like the dollar and the euro have been spectacular and have taken most economists by surprise.   More

Study ranks Czech Republic first among transforming countries

19-02-2008 16:00 | Jan Velinger

Germany’s Bertelsmann Foundation has ranked the Czech Republic first among transforming countries, ahead of Slovenia, Estonia, and Taiwan, in an important study conducted over the last two years. The foundation’s so-called Transformation Index rated a total of 125 states, taking into account both political and economic criteria.   More

Business News

08-02-2008 15:28 | Ruth Fraňková

Photo: European Commission In Business News this week: the Czech Republic has posted record trade surplus in 2007; shopping space in the country is expected to expand by 50 percent; Czechs want to include Olomoucké tvarůžky on EU’s list of protected foods; a pint of Pilsner Urquell beer is cheaper in Germany than in the Czech Republic and Czech soft-drinks producer has launched a sugar-free version of Kofola.   More

Business News

18-01-2008 16:37 | Daniela Lazarová

Share-prices on the Prague Stock Exchange have slumped to their lowest level since November 2006, Škoda car sales around the world increased by 14.5 percent last year and Visa has apologized for a glitch in its transaction system in Poland, the Czech Republic and Hungary that left an unspecified number of customers with duplicated withdrawals on their accounts.   More

Business News

11-01-2008 14:31 | Ian Willoughby

In Business News this week: state-owned brewer Budvar will probably not be privatised during the term of the current government, says the minister of agriculture; top managers at ČEZ are set to take home phenomenal amounts under a share option incentive scheme; with a rise in the number of second-hand autos imported, some are suggesting the Czech Republic is Europe’s car graveyard; ČT24 will soon begin broadcasts from the Prague Stock Exchange; and the Czech makers of a hit computer game are bought out by a US firm.  More

Czechs expected to spend record billions at Christmas

10-12-2007 16:13 | Jan Velinger

Packed parking lots, packed stores: that’s the situation in most Prague shopping malls these days in the final weeks before Christmas. According to reports, Czechs are spending more than ever: economists are predicting that this holiday season Czechs will plonk down record amounts, a rise in the billions.   More

Business News

23-11-2007 13:50 | Ian Willoughby

In Business News: with the Czech crown going below 18 to the US dollar, it is now exceedingly difficult for Czech firms to export to America; a new study finds the Czech tax system one of the most complicated and burdensome in the EU; Meinl European Land, owner of over 100 shopping centres in the Czech Republic, is expanding further; Heineken is reportedly hoping to acquire another slice of the Czech drinks market; and the country’s breweries are expecting a merry Christmas.   More

Moser: 'King of glass' celebrates 150 years of luxury glass production

13-11-2007 15:25 | Joshua Singer

The west Bohemian town of Karlovy Vary (also known as Carlsbad) is well-known as a seat of luxury and wealth. Foreign kings and aristocrats have for centuries been visiting its healing spas, and in more recent times it has played host to the Karlovy Vary film festival, attracting scores of celebrities and famous personalities. It is therefore fitting that it is home to arguably the most prestigious manufacturer of luxury glass in the world - Moser. The company is one of the Czech Republic's finest brand names. And this year, it celebrates its 150th anniversary.   More

Petr Litos - producing mobile phone games for the region, and further afield

05-11-2007 14:51 | Ian Willoughby

Petr Litos From his office in the Prague district of Zizkov, Petr Litos runs a company making mobile phone games for both the Czech and international markets. In fact, his firm Nostromo successfully exports mobile entertainment to the whole of central and eastern Europe, the former Soviet Union, Scandinavia and Turkey (and in some cases the whole world). When we met last week, I first asked Petr to name some of the big international franchises his 30-strong team have worked with.   More

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