The ČEZ Group is no longer the general partner of the Karlovy Vary
International Film Festival, organisers revealed on Friday.
According to reports, the energy giant backed out of further cooperation before the start of this year. ČEZ was the key partner for the last 16 years – since 2002.
The company cited economic results as the reason it could no longer serve in its previous capacity.
The annual KVIFF takes place between June 29 and July 7.
Czechs’ financial literacy improved since last year by only the very slightest of margins an annual survey commissioned by the Czech Banking Association has shown. According to the survey, they picked up 56 points out of a possible 100. The news isn’t all bad though: the number of Czechs setting aside savings has at least increased, Czech Radio confirmed.
The pace of Czech inflation slowed in February to an annual 1.8 percent,
down from January’s 2.2 percent, according to the Czech Statistical
That is the lowest annual rate of inflation since November 2016.
Among the main factors depressing higher inflation were a slowdown in prices of many food items and drinks. Phone services also became cheaper. Some of the biggest price rises over the month were for utilities and rents of flats and other accommodation.
The Czech central bank has a target inflation rate of 2.0 percent.
The lower house of Parliament on Wednesday approved a controversial Communist Party proposal for Church restitutions to be taxed. Although the bill was only passed in its first reading, support from the parties currently debating a coalition-in-the making has cast doubt on the future of a hard-won settlement between the country’s 16 churches and the State.
The supervisory board of Czech electricity company ČEZ’s said it had
agreed the sale of its remaining Bulgarian assets to local company Inercom.
The final sale agreement is expected within days. The deal still has to be cleared by Bulgaria’s anti-monopoly authority.
The sale of the seven companies should draw a line under ČEZ’s 14 year history in Bulgaria which has in recent years involved frequent conflicts with the government and regulators.
ČEZ added though that the Bulgarian experience had turned a profit and that the final offer from Inercom was well over the market valuation of the assets and the valuation set by an independent analyst.
Czech moves to construct new nuclear reactors by addressing the crucial question of who and how they will be funded looks like it could be finally addressed. A proposed shake-up of energy company ČEZ aimed at paving the way for power plant construction is now going to be reviewed by a government appointed team of experts. But what reactors might the Czechs eventually choose?
Defence Minister Karla Šlechtová, who is attending the security
conference in Munich, pledged to increase the defence spending budget to
2.0 percent of the country’s GDP by the year 2024. She made the statement
to the Czech News Agency on Saturday. Šlechtová said it would be quite
outrageous if the Czech Republic failed to fulfil the target which NATO
partners agreed on.
Czech defence spending last year stood at around 1.1 percent of the country’s GDP and according to some experts, it is unlikely to meet the 2.0 percent commitment by 2020.
One of the longest running legal battles in Czech history has just taken a new turn with the possible bill for the state escalating substantially. The company Diag Human is now taking a new tack in its battle for damages and is reportedly seeking at least a billion US dollars. Prague is hiring big legal guns in the US in its defence.
Demonstrations held in 11 cities over election of Communist MP Ondráček to chairman post
National Museum discovers fake gems in its collection
Czech Republic caught up in plastic waste disposal crisis in Europe
President Zeman’s Chinese advisor arrested
Growing concern over plight of leading Chinese investor in the Czech Republic