The lower house‘s Investigatory Commission on OKD announced on Tuesday that it has decided to file a criminal complaint against four former government ministers for their role in the privatisation of the Silesian coal mining joint-stock company Ostravsko-karvinské doly (OKD). Among them is the former prime minister Bohuslav Sobotka. According to the commission, the privatisation and subsequent events were in contradiction to the interests of the state.
The level of overall trust in the Czech economy has fallen to a five year low according to the results of a monthly industry survey conducted by the Czech Statistical Office and published on Tuesday. Among consumers and entrepreneurs year-on-year trust levels fell, while among industry and construction representatives trust levels have remained the same for the past four months.
The Czech Republic’s year-on-year industrial production figures grew by
0.1 percent in July, factoring in the difference of two working days, the
Czech Statists Office reported on Friday. Unadjusted, the increase was 5.6
The main drivers of growth were the automobile industry, electrical equipment production and manufacture of basic pharmaceutical products.
The country’s external trade balance in goods ended with a surplus of 0.1 billion crowns in July, compared to a deficit of 8.2 billion in the same month last year. Exports grew year-on-year by 8.4 percent to 289.5 billion crowns and imports by 5.1 percent to 289.5 billion crowns.
Business and government representatives gathered near the western Bohemian town of Žatec on Wednesday to attend the official opening of a new Nexen Tire plant. The factory, which also features a research and development facility, is the third largest foreign investment project in the Czech Republic to be brokered by the country’s business development agency CzechInvest.
Industrial output in the Czech Republic weakened by 3.8 percent in June
following four months of growth, according to official figures released on
Tuesday. Lower auto production has been given as one of the main reasons
for the downturn. The manufacture of metal structures and fabricated metal
products also declined.
By contrast, the production of rubber and plastic products, computers and other electronics and pharmaceuticals increased in the Czech Republic in June.
Countless statues of Tomáš Garrique Masaryk, the founding father of Czechoslovakia and the country’s first president, were erected in town squares in the first two decades of the new democracy. Scores were torn down under the German occupation, melted down in Third Reich forges to make bullets and artillery shells. But the fate of a handful of others remains a mystery.
The Czech Republic’s year-on-year industrial production figures grew by 3.2 percent in May, 0.1 percent less than in the previous month, according to figures released by the Czech Statistics Office on Monday. The main drivers of growth were the automobile industry, as well as plastic and energy production. The country’s foreign trade surplus experienced a year-on-year rise of CZK 17.2 billion, reaching CZK 24.4 billion.
The German Central Bank has published a prediction on the country’s expected economic growth for 2019. It lowered its expectations from 1.6 percent to 0.6 percent. The Czech manufacturing sector is very dependent on German economic strength and Germany is also the Czech Republic’s largest trading partner. However, analysts questioned by the Czech News Agency say that changes in the forecast were expected and will not affect the Czech economy.
Mobile operators will be given time until 2024 to launch their 5G networks
after a frequency auction takes place, Prime Minister Andrej Babiš said on
Thursday at an international conference in Prague, which is dedicated to
exploring the security, technical and economic aspects of switching to 5G.
Mr. Babiš said he expects the switch to the advanced wireless system to be even more revolutionary than the onset of mobile phones, stimulating economic growth, innovation and overall prosperity. However, he also stressed the extraordinary importance of ensuring the new network system’s security.
In a video message sent to the conference, European Commissioner for Security Julian King urged the importance of EU member states approaching 5G network security in a co-operative way, establishing a set of security standards.