A fundamental shake-up of two pillars of Czech state export support is
supported by the Ministry of Industry and Trade, according to the news
Under the plans the Czech Export Bank, which gives soft loans to help exports in risky countries, would become a daughter company of the state export insurer, EGAP.
The ministry is seeking a radical transformation at both institutions. The mooted transformation would have to be approved by the Czech National Bank and the government.
Exports by Czech companies reached a record 4.2 trillion crowns last year,
an increase of 5.7 percent year-on-year, the Czech Statistical Office
confirmed. Exports to China rose by one-fifth while exports to neighbouring
Germany rose by 7.3 percent; Germany remains the Czech Republic’s biggest
export market; 32.8 percent of total exports from the Czech Republic last
year were to the neighbouring country, accounting for 1.38 billion crowns.
The vast majority of exports from the Czech Republic are to EU countries: 83.7 percent.
The Czech Republic experienced a balance of trade surplus of CZK 152.6
billion last year, according to figures released on Monday morning by the
Czech Statistics Office. The result was CZK 11.1 billion down on the
balance of trade surplus recorded in 2016.
Compared to the previous year, Czech exports increased by a record 5.6 percent, to CZK 4.2 trillion, in 2017. Imports grew by 6.3 percent.
Over a thousand new apartments are to be built on a former industrial site
in the Prague district of Vysočany, E15 reported on Monday. Factory halls
of the collapsed firm ČKD DIZ are to be demolished to make way for the
construction project, which is the biggest yet from billionaire developer
Milan Šrejber and his Pankrác development company, the newspaper said.
A representative of the firm said the flats would be built in five or six stages. The apartment complex, named Vivus Kolbenova, will cost over CZK 3 billion.
Around 32,200 new companies were created in the Czech Republic in 2017, according to the consultancy company Bisnode. That’s the highest figure since the pre-crisis year of 2007, it added. Most of the new companies were created in Prague and South Moravia with their main activities services, rentals, management of real estate, wholesale and accommodation. Bisnode said that the total number of companies in the country last year rose by 5.3 percent to stand at 475,600.
Advertising revenues in the Czech Republic climbed by around 10 percent to
around 150 billion crowns, according to the Association of Communications
Agencies on Thursday.
Spending on television advertising is estimated by Nielsen Admosphere to have climbed by around 13 percent to just over 48 billion crowns. Spending on printed publicity rose by just under 3 percent to total around 19 billion. The figures for Internet spending are expected to be known in February.
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