Archive: Business | Industry Industry

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

Government officials at odds over country’s export strategy

13-03-2012 16:11 | Jan Richter

Photo: Claus Bunks, CC 3.0 license Two Czech ministers have clashed over how the government should support the country’s exports. Foreign Minister Karel Schwarzenberg, whose office has put a lot of effort into promoting Czech businesses abroad, dismissed a new export strategy designed by the Industry and Trade Ministry. In spite of the squabbles, however, the government’s support for exporters is bearing fruit: Czech exports have reached record levels and are a major driving force behind the Czech economic recovery.  More

Radioactive Waste Depository Authority launches multi-million-crown incentive to win over municipalities for possible nuclear waste sites

21-02-2012 17:17 | Sarah Borufka

Illustrative photo While the Czech Republic relies on nuclear power for some 30 percent of its total energy supply, the Radioactive Waste Depository Authority is facing difficulties in finding new locations for depositing nuclear waste. As an incentive for municipalities to agree to geological research on their territory, the state-run authority is now offering mayors millions of crowns. Sarah Borufka has the details.  More

Business News

17-02-2012 16:19 | Dominik Jůn

In this week's Business News, the Czech Republic sees a fall in truck production; household spending stagnates; January sees inflation up again; social security finds itself in the red for three years in a row and supermarkets are caught re-labelling out-of-date food.  More

PM tells European-bound Czech exporters to look further afield

07-02-2012 17:10 | Daniela Lazarová

The Czech government on Monday unveiled a new export strategy that is to help Czech exporters find new, fast-developing markets. The move aims to boost the country’s economic stability amidst concerns over the deepening debt crisis in the euro zone.  More

Car manufacturers in Czech Republic to roll out new mid-priced vehicles in 2012

18-01-2012 16:18 | Jan Velinger

Škoda Rapid Despite gloomy news and grim forecasts almost all around these days one sector of the economy - namely the automotive industry – is in top gear. In 2011, two out of three manufacturers – Hyundai and Škoda Auto exceeded previous expectations, and while TPCA suffered a drop in production, all three together produced a record 1,186,000 vehicles. And they are gearing up for an equally good year in 2012, reading to launch mid-priced new or revamped models aimed at both the domestic market and markets abroad.  More

Business News

13-01-2012 15:47 | Sarah Borufka

In today’s business news: Consumer prices have risen by 4.7 percent following a VAT hike, the American Anheuser-Bush purchases the Budějovický měšťanský brewery in hopes of improving its chances in an ongoing trademark dispute, public health insurer VZP may see a budget deficit of up to three billion Czech crowns in 2012, regular and diesel fuel reach record prices, and the forecast for the Czech construction sector for 2012 is the worst among the Visegrad Four.  More

Business News

06-01-2012 15:34 | Sarah Borufka

In this week’s business news: An increase of the lower category VAT has gone into effect, Czech online discount sites see steep increases in sales, hard liquor consumption is on the decline, Škoda Auto has sold a record number of cars in 2011, and the Czech Agriculture and Food Inspection Authority says that 15 percent of food products it inspected in 2011 failed to meet its quality standards.  More

Bureaucratic goof could cost country billions of crowns

28-12-2011 16:11 | Daniela Lazarová

What appears to be gross bureaucratic incompetence may cost the Czech Republic billions of crowns. The country’s belated bid to become a party in the ongoing criminal case against the former managers of the Czech mining firm Mostecká uhelná, involving billions of crowns now frozen in Swiss bank accounts - has been thrown out by a Swiss court, leaving the Czechs out in the cold.  More

Business News

09-12-2011 16:20 | Christian Falvey

Economy grows by 1.2% in 3Q; criminal liability for companies passes parliament; fifty billion crowns in deals for Czech and Russian businesses; inflation accelerates to 2.5%; construction continues decline.  More

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