The Prague-based property technology company Spaceti took top honours this year at MIPIM, the world’s biggest real estate industry fair, held in the glitzy French resort town of Cannes. Co-founder Aakas Ravi spoke to Radio Prague about the start-up’s evolution from focusing on safety to its pioneering work making “smart buildings” even smarter.
The January figures for industrial production and the construction sector
show a year-on-year decline, analysts from the Czech Statistics Office
announced on Friday.
A 6.9 percent decrease in car manufacturing is seen as primarily
responsible for the 1 percent decline in overall industrial production.
Construction went down by 13.2 percent in comparison to figures in January 2018. The Czech News Agency reports this difference was due to more favourable weather conditions in the previous year, when an exceptionally warm January allowed construction firms to proceed with building projects unhindered.
Meanwhile, energy companies and pharmaceutical firms experienced an increase in production. Statisticians also reported an overall 1.9 percent increase in the number of orders issued to Czech companies.
Overall confidence in the Czech economy has declined for a third
consecutive month, dropping by 0.6 points to 98 points, the Czech
Statistical Office (ČSU) announced on Thursday.
Compared to last January, overall confidence in the economy is down, with levels lower for both business and consumers year on year.
Overall confidence in the Czech economy last dipped below 98 points in July 2017, when it stood at 97.7 points.
However, while business confidence has fallen in monthly terms, that of consumers has not, holding steady at December’s level.
For every 10,000 employees in the Czech Republic, there are 101 robots. This measurement, used in a recent HSBC study, places the Central European state above the world average, which lies at 74 robots. However, in the country’s neighbour Slovakia the robot population average is higher by a third. The study also claims that due to its ageing population study the Czech Republic will need to continue increasing the share of robots in its economy.
Year-on-year growth in industrial output in the Czech Republic slowed to
4.8 percent in November, according to official data released on Tuesday. In
October growth had reached 6.7 percent. However, taking into account
seasonal factors, industrial output actually rose by 0.9 percent.
The main driver of growth remained motor vehicle production, which went up by 10.2 percent. By contrast construction stagnated in the 11th month of 2018 following growth of 10.4 percent in October.
Czech industrial production grew by 6.7 percent year on year in October,
after somewhat weaker performance in recent months, data from the Czech
Statistical Office show.
New orders reached double digit growth, suggesting that recent weakness could be related to one-offs.
Manufacturing grew by 7.7 percent, supported by strong automobile production, up 8.8 percent in annual terms after falling in the previous two months.
Estonian Prime Minister Jüri Ratas has been in Prague on Friday for talks with his Czech counterpart Andrej Babiš focused on digitisation, an area in which the Czech government is eager to step up its game. Consultants McKinsey have just published a study saying that accelerated digitisation could deliver up to a massive EUR 26 billion in additional Czech GDP by 2025. I asked Tomáš Karakolev, one of the authors of the study, what the Czech Republic should focus on if it wants to digitalise successfully.
Estonian prime minister Jüri Ratas arrives in Prague on Thursday to meet
with his Czech counterpart, Andrej Babiš ahead of a conference on
digitalisation, so-called eGovernment, and the single EU digital market.
The two leaders will also discuss the possible strengthening of cooperation between the Visegrad Group and the Baltic States and relations between the EU and Russia.
Estonia has been an early and effective adopter of digitalisation, earning it the nickname of “e-Stonia”, and Mr Ratas will share his country’s experiences at the conference on Friday.
According to a study by the consultancy McKinsey presented in Prague on Wednesday, Czech economic growth, now at 3.4 percent, could increase by a full percentage point if it pushes ahead with digitalisation.
McKinsey says high employment and consumer demand have been the main drivers of Czech GDP growth, but in the future automation and the adaption of new technologies will erase jobs.