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Business News

25-05-2012 16:34 | Jan Richter

In Business News this week: Czech government approves austerity measures but might run into problems securing EU funds; PM Nečas speaks of the consequences a Greek exit from the eurozone would have on the Czech Republic; the biggest Czech betting firm Tipsport buys its competitor; Czechs smoke less and most of them want a ban on smoking in public spaces; Czechs lie in their CVs more than other nations.  More

Business News

13-04-2012 14:28 | Daniela Lazarová

In Business News this week: the government approves a far-reaching fiscal consolidation plan to reduce the state budget deficit, a drop in deliveries of Russian crude oil to the Czech Republic triggers speculation of a plan to up the price and Škoda Auto posts record sales.  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

Business News

30-03-2012 16:12 | Sarah Borufka

In this week’s business news: The Czech Republics foreign debt has reached 1.873 trillion crowns, a survey finds Czech salaries are above the international average, a shortage of white eggs is likely to hit the country over Easter, the popularity of specialty brews is on the rise and Prague’s Four Seasons hotel goes on sale.  More

Business News

16-03-2012 15:14 | Sarah Borufka

In this week’s business news: Czech banks are getting ready to sign off on what could be the largest-ever club deal, negotiations between Škoda Auto management and unions continue, the Czech Agrarian Chamber’s president has said that egg prices will stabilize, the cost of fuel has hit a record high and the American coffee retailer Starbucks has opened its first Czech branch outside of Prague.   More

Business News

09-03-2012 16:50 | Dominik Jůn

In this week’s Business News: the Czech Republic finds itself in a recession; women are earning a quarter less then their Czech counterparts; bankruptcy declaration reach a four year high; computer sales are set to soar in 2012 and a new law is giving the government the muscle to tackle shady employment practices.  More

Trade union group fears that government cuts will weaken stagnant Czech economy

06-03-2012 14:53 | Dominik Jůn

The Czech government is debating continued austerity measures, hoping to save 23 billion crowns in 2012, 42.4 billion in 2013 and a whopping 84.4 billion in 2014. But the plans have been met with opposition from trade unions, who are highlighting that the cuts could lead to as many as 24,000 public sector job losses and include layoffs of as many as 17,000 teachers as well as 3,500 police officers within the next two years. Jaroslav Zavadil, head of the Czech-Moravian Confederation of Trade Unions recently called this “a path to hell, which will destroy the public sector.”  More

Business News

02-03-2012 15:51 | Dominik Jůn

In this week’s Business News: the most absurd bank fee is announced; a study finds that a third of young Czechs are working flexible hours; fears that eurozone unemployment could hit Czech exports; the Finance Ministry is seeking to lure investment funds into the country and Czech Railway cutbacks mean fewer train conductors.  More

Constitutional Court defies EU with ruling on Czech-Slovak pensions

15-02-2012 16:18 | Christian Falvey

The Constitutional Court on Tuesday made a landmark ruling regarding the difference in pensions between the Czech and Slovak Republic. Cases exist where Czechs who worked in the other half of Czechoslovakia now receive the lower pension rate of the Slovak Republic. According to the new decision of the court, such citizens never worked in a foreign country and thus are entitled to compensatory payments to raise their pensions to Czech standards. Among the chaos this creates for the Social Affairs Ministry now is that fact that the ruling directly contradicts the European Court of Justice.  More

Business News

10-02-2012 15:09 | Jan Velinger, Christian Falvey

In Business News: The government debt has reached almost 40 percent of the GDP; unemployment in January rose to 9.1 percent; the Czech state loses an estimated 25 to 30 billion crowns every a year on account of tax evasion; union representatives have rejected a 2.5 percent salary bump offered by car manufacturer Škoda Auto; the sale of winter clothing and apparel – including winter wear for dogs – has jumped markedly in the cold snap.  More

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