In this week’s Business News, the planned US radar base in the Czech Republic will apparently use Czech power and be built with the help of Czech companies; new statistics from the Czech Labour Ministry reveal that a record number of foreigners came to work in the Czech Republic; Koh-i-Noor Hardmuth, a pencil and stationary company in the Czech Republic has announced plans to close down its České Budějovice production plant after 160 years; a leading Czech consumer advocacy group called SOS has warned shoppers to be wary of a misleading practice
The Czech Republic’s official road to adopting the Euro is a long and winding one. While politicians argue over the pros and cons of embracing the pan-European currency, it seems that Czech businesses, motivated by an increasingly strong crown have already made up their minds. Battling against an increasingly strong crown, many companies that export beyond the country’s borders are instead choosing to do their business in Euros. The reasoning is simple – countries importing Czech goods, are assured a better deal with a weaker currency like the
What should you do when the heat, the dust, and the stuffiness of the capital all gets too much? Well, for this week’s Panorama, I left Prague in a bid to make my own ice cream. But before you start thinking that I swapped Prague for Pisa, or Palermo or Perugia, well, stop. My journey took me much less far afield. To the outskirts of Brno, to be precise.
The Czech Republic’s foreign debt rose in the first quarter of 2008 by 137 billion crowns (9 billion USD) year-on-year to 1,354 billion crowns (89.2 billion USD). This figure accounts for 37.4 percent of GDP. The Czech National Bank released the figures on Monday, linking the rise in foreign debt to a rise in the number of short term loans commercial banks had taken out since the start of the year.
A TV commercial for Škoda Fabia, in which bakers, confectioners and chocolatiers build a full-size cake replica of the car, has won the Golden Lion award for the best advertisement at the Cannes Advertising Festival, the daily Hospodářské noviny reported on Monday. The spot, made by a London-based advertising company, also won a British TV commercials award last year.
Drunk driving in the Czech Republic, like other countries, remains a serious problem, so when police announced a clampdown in the Czech capital this week, most probably expected them to apprehend a lot of motorists who were over the limit. But things haven’t quite worked out that way. The daily Lidové noviny has questioned the campaign, saying it’s more about free advertising for a major brewery than actually tackling the problem of drunk driving.
The Czech Republic has seen a massive increase in the number of shopping malls in recent years, with around 60 of them dotted around the country. Rare a decade ago, large shopping centres are now part of the everyday lives of millions of Czechs. And while the number of malls keeps on growing, some major retailers are also making inroads into the corner shop market.
The amount that the Czech Republic’s top ten newspapers made from advertising in 2007 was 7.57 billion CZK (476 million USD). This figure is down by 8.6 percent on the previous year’s, and marks the first downturn in revenue generated by advertising to have been recorded in the Czech print media in the last few years. Only two newspapers made more from advertising than ever before – those were the tabloids Šíp and Aha!. The biggest loser in 2007 was Pravo, whose advertising revenue fell by around 25 percent.