Archive: Business | Business Business

Business News

24-08-2012 16:11 | Masha Volynsky

This week in business news: fuel prices skyrocket across the Czech Republic; the Czech government will launch a new scheme to help local business in trouble; the new energy conception seeks to boost nuclear reliance by 2040; Czechs are spending less and saving more; Czech car makers see a rise in production in first half of 2012.   More

Czech economy contracts for third consecutive quarter

14-08-2012 15:57 | Jan Richter

The Czech economy remains in recession. According to preliminary figures released by the Czech Statistical Office on Tuesday, the gross domestic product fell by 0.2 percent in the second quarter of this year, and the economy contracted by 1.2 percent compared to the same period last year. Exports are still the main driving force but slowing industrial output and depressed domestic demand continue to undermine economic growth. Radio Prague discussed the latest figures with economist David Marek from the consultancy Patria Finance.  More

New website seeks to name and shame stores caught by the Czech food safety inspectorate

18-07-2012 16:32 | Dominik Jůn

Photo: Potravinynapranyri On June 10th, a new consumer protection website was launched by the Czech Ministry of Agriculture designed to significantly aid in consumer protection. The site is named “potraviny na pranýři” – or “groceries on the stocks” (official translation: “food pillory”), meaning the old-fashioned wooden kind used to publically humiliate wrongdoers. The project has been a huge hit with consumers, while many leading supermarket chains are less than thrilled.  More

Národní třída metro station closes for two years

12-07-2012 15:47 | Daniela Lazarová

Národní třída metro station, photo: CTK On Tuesday this week Prague’s Národní třída metro station –one of the busiest in the city centre –closed its doors to the public for two long years. The closure is due to a large developer’s project in the close vicinity of the station where work has already started on a four-storey administrative and shopping centre.  More

Support for human rights hurts Czech business in China, says manager of Czech firm in Kunming

06-06-2012 16:54 | Jan Richter

Stanislav Linc One of the Czech companies which successfully launched an operation in China is the machine tool producer TOS Varnsdorf. In 2006, the firm invested some 2.5 million euro to form a joint venture company TOS Kunming. In this edition of Marketplace, the firm’s financial director Stanislav Linc talks about doing business in China, hiring Chinese employees, and how the Czech government supports Czech businesses in that country.  More

Can Islamic banking help boost Czech exports?

30-05-2012 16:18 | Jan Richter

Photo: Czech Television A good deal of the ongoing economic and financial turmoil on world markets has been blamed on the unscrupulous practices of the international banking and financial sector. Islamic banking, on the other hand, is seen as a fairer and more balanced alternative which has been much less affected by the crisis. Can the Czech Republic benefit from a financial system based on the Islamic law? And can Islamic banking help boost Czech exports into Muslim countries? These are some of the issues debated at an international conference on Islamic banking held in Prague.  More

Business News

18-05-2012 10:50 | Jan Velinger

In Business News: the Czech economy contracts by 1.0 percent in the 1Q, the second-worst result among 19 EU states; the country’s ombudsman slams the government’s social system reforms, saying they have left thousands on the brink of poverty; the price of Czech garlic is set to go up; Czechs are budgeting more carefully and buying less when shopping in supermarkets than in previous years.  More

Botanicus co-founder Dana Hradecká: planting the seeds of success

07-05-2012 16:30 | Chris Johnstone

The Botanicus chain of stores offering herbal soaps, extracts and delicacies is a Czech, and growing international, success story. Most tourists will have probably bought something from one of their outlets in the country. The small business was founded in the early 1990’s after the restitution of a family farm around 40 kilometres north-east of Prague. That has become the centre for the business and a tourist attraction with more than 50,000 visitors a year. One of the firm’s co-founders Dana Hradecká explained the roots of the original inspiration for the business.  More

Czech firms reluctant to partake in foreign aid projects

25-04-2012 | Jan Richter

Věra Venclíková The Czech Republic spends around 430 million crowns a year on foreign aid, financing various development projects in Bosnia and Herzegovina, Ethiopia, Moldova, Mongolia and other countries. The government is increasingly trying to involve Czech firms and businesses in the process so that they find a foothold on local markets where they could continue doing business even after the government-sponsored projects finish. But Věra Venclíková, the head of the Czech Business Platform for Foreign Cooperation says that getting Czech firms interested is no easy job.  More

Business News

06-04-2012 15:57 | Jan Richter

In Business News this week: Czech industrial production speeds up; most Czech companies want to hire employees as contractors; Saturday shifts at Škoda Auto end over labour dispute, the North American brewing giant Molson Coors buys Staropramen; and Prague’s Ruzyně airport marks 75 years since the first landing.   More

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