The number of bankruptcies in the Czech Republic reached 1289 between January and July this year, which represents a 19-percent increase year-on-year, the debt consultancy Creditreform Czech Republic said on Friday. The number of bankruptcies of self-employed entrepreneurs rose by 40 percent in that period to reach 438. The total number of bankruptcy filings increased by 13 percent; most of them were registered in the construction industry and trade. Creditreform expects an increase in bankruptcies to continue in the second half of the year as well.
In Business News this week: the agriculture minister stops contracts worth a half billion crowns a study maps the role of foreign investors in domestic companies; truck manufacturer Tatra clinches an important contract in the Middle East; the national bank confirms a drop in the number of counterfeit banknotes and coins seized; a Czech insurance company maps how long it takes for an unattended bike to be stolen on the street.
Czech companies lose enormous amounts of money annually due to their staff spending time on Facebook and other websites instead of working, claims a freshly released study. Indeed, the report’s findings suggest that the average office worker in the Czech Republic is devoting around an hour a day to mucking about on the internet.
The ministries of foreign affairs and trade have signed an agreement on cooperation in promoting the country’s business interests. Czech Foreign Minister Jan Kohout said after the signing ceremony in Prague on Thursday that the agreement would end years of rivalry in this field and mark a new era in promoting Czech interests abroad. He promised better service both for Czech exporters and for potential foreign investors in the Czech Republic. Trade Minister Jiri Cienciala, welcomed the deal saying the trade ministry had handpicked 44 business experts who would be sent to Czech embassies around the world.
Senator Tomio Okamura has filed a criminal lawsuit against the Czech branch of the anti-corruption watchdog Transparency International. Mr Okamura accused the group of breaching the law by conducting unauthorized business activities and providing inaccurate financial reports. The senator also said TI sponged off public funds. Last year, the watchdog criticized Mr Okamura over non-transparent financing of his presidential campaign.
Following a recent food safety scandal in Poland dubbed the “Antibiotic Affair” and a similar revelation in neighbouring Slovakia, where traces of antibiotics were uncovered in animal farming, the Czech authorities last week launched tests on imported poultry. The inspection team tested an overall 61 samples – luckily all were found to be negative.
In Business News this week: Český aeroholding announced it made 1.8 billion in operating profit for last year; the Senate has approved legislation which would require large stores to remain closed during state holidays; billionaire buys major Czech publisher; fruit growers have reason to be happy, citing a 25 percent jump in fruit crops.
In Business News this week: Russia’s Rosneft signs deal to deliver crude oil to Czech Republic; political instability could delay announcement of Temelín tender winner; poll suggest only quarter of Czech businesspeople want euro; domestic banks “stable and resilient” says CNB; and truck-maker Avia to close Czech factory.
In Business News: a major investigation reaching into the upper echelons of government will not negatively impact markets say analysts; the Agriculture Ministry revises the damage figure to the sector from recent floods; the Czech Republic moves up seven notches on KPMG’s VAT list; Czech companies could provide amphibious vehicles for Libya, E15 reports; the TOP 100 association releases its list of top Czech exporters last year.
Jana Ciglerová: Americans say their lives are fantastic, Czechs say everything is terrible – neither is true
“There is good, better and then there is the USSR.” – New book depicts life in communist Czechoslovakia through memories of people who experienced it
CzechTourism head hints attracting tourists no longer agency’s main goal
Minister: Czech Republic won’t take in 40 child refugees from Greek camps
“The only solution is political” – Organisers of major anti-government protests in Czechia announce plans for the future