The international rating agency Moody's Investors Service has
downgraded its outlook for the Czech banking sector from positive to
stable. The change is mainly due to the slowdown in the country’s
economic growth, the Czech News Agency reports. Moody’s said on Monday
that after years of rapid loan growth, it expects a slight deterioration in
the quality of its loan portfolio in the Czech Republic.
The New York-based bond credit rating business continues to see the country’s credit rating as one of the best in Central and Eastern Europe, but it expects Czech GDP growth to decelerate from last year’s 2.9 percent to 2.7 percent this year, with a further 0.2 percent decrease in 2020.
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.
US electric car maker Tesla has opened its first showroom in the Czech Republic. Its official dealership is in Prague’s Vysočany district, where Tesla already operates a service centre. Visitors to the showroom can try all Tesla models, including Model S and X, as well as the most affordable Model 3, which sells for 1.2 million crowns.
Sales of new passenger cars in the Czech Republic in the first three
quarters of 2018 dropped by eight percent year-on-year to 191,110,
according to figures released by the Car Importers Association on Thursday.
The month of September saw a rise by 8.5 percent to 15.770 sold cars. The biggest seller in the period was Škoda with over 64,656 cars, followed by Volkswagen and Hyundai.