Topic Archive Business
Business News
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
Leading economist on austerity package: public sector still squandering money
The Finance Minister’s austerity plan for 2013, which includes
far-reaching measures to increase state revenues and cut public spending,
has raised an outcry from the opposition benches with the leader of the
opposition Social Democrats Bohuslav Sobotka saying his party would table a
vote of no-confidence in the three-party centre-right coalition. More
Finance minister tells Czechs to brace for succession of lean years
Although the Czech government has refused to sign up to the EU’s fiscal
discipline pact, frugality has become the order of the day and the finance
minister has warned the nation that, come what may, fiscal discipline will
be observed in the interest of bringing the country’s public finances
under control. On Monday the cabinet’s economic ministers are meeting to
debate austerity measures for 2013 which far surpass those previously
undertaken.
More
Business News
In Business News: Fuel prices reach new highs at Czech gas pumps; the Czech
crown weakens mid-week; zero-percent growth is projected for the Czech
Republic in 2012; food giant Hamé says it will mend its ways. More
Radioactive Waste Depository Authority launches multi-million-crown incentive to win over municipalities for possible nuclear waste sites
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
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supermarkets are caught re-labelling out-of-date food.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
Constitutional Court defies EU with ruling on Czech-Slovak pensions
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
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
Czech lighting producer Preciosa aims to expand on US, Russian markets
A leading Czech producer of lighting products, Preciosa Lighting, aims to
expand its position in the United States. The firm with a centuries-old
glass making tradition has now opened a permanent showroom in Dallas,
Texas, a must for everyone who’s anyone in the industry, says Preciosa
Lighting’s sales director Petra Macháčková. Radio Prague talked to Ms
Macháčková about her company’s plans. More
PM tells European-bound Czech exporters to look further afield
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
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