The Czech Republic has the chance to increasingly position itself as Japan’s gateway to the European Union after the United Kingdom’s withdrawal from the EU, the Ministry of Trade and Industry suggested following a visit by Japan’s Minister for Economy, Trade and Industry, Hiroshige Seko. Seko met with his Czech counterpart Jiří Havlíček. The car industry, IT, defence, glassmaking, and food products were identified as areas for possible increased cooperation between the countries. Around 250 Japanese companies have already established themselves in the Czech Republic. Britain was previously one of the major gateways for Japanese investment in Europe.
The Czech Republic is one of 17 countries joining a new feature on Facebook called Marketplace, available this month. The service is meant to rival online auction sites by allowing the broader public to take part - not just friends or friends of friends on the social network. Buyers will be able to select the radius they want to shop in and the app will present items to users that Facebook algorithms guess they may be interested in.
A growing number of Czechs are buying real estate abroad, the Czech News Agency reported on Sunday, citing a study by the real estate company Rellox. Czech clients are buying property mostly in Austria (47 percent), Croatia (20 percent), Italy and Spain. According to the study, they usually invest in studios, but they also buy houses and villas. Most clients, around 65 percent, use their foreign property as a holiday home and rent it out during their absence. Last year, Rellox recorded an 11-percent increase in foreign property investments compared to the previous year.
The month of July has seen a significant fall in the number of bankruptcies, according to data released by the Czech Credit Bureau. Altogether 45 companies faced bankruptcy proceedings in July, which is the lowest number since 2008. Year-on-year the number of bankruptcies is down by 136. The most bankruptcies were registered among companies involved in business and trade, the construction industry and services.
The Czech Association of Exporters has suggested that export growth will continue at more than 10 percent till the end of the year. That should result in a record export figure of 3.5 trillion crowns for 2017, according to the association. The biggest question mark over the figure is whether labour shortages in certain key sectors of the Czech economy will start to bite more and whether the key auto industry sector will face a slowdown or production stoppages.
Czech e-shops are going from strength to strength, the financial daily Hospodářské noviny reports. According to the daily, Czech consumers are beginning to order far more than just electronic items or toys online but even foodstuffs they used to buy in stone-and-mortar shops. For the first time, annual online revenues in the Czech Republic are expected to top 100 billion crowns.