Almost 80 percent of locally-based companies are disturbed by a recent debate in the Czech Republic about a referendum on leaving the European Union, suggests a new survey. And over a quarter of firms would consider upping sticks if what has been dubbed Czexit were to actually take place, the study indicates.
One of the Czech Republic’s flagship engineering companies, Vítkovice
Engineering, has said it has itself proposed insolvency proceedings. The
move was indicated Friday by details on the insolvency register.
Vítkovice Engineering early this week appeared to be lined up for a lifeline from the arms company of Czech businessman Jaroslav Strnad. He however announced midweek that he intended to invest in another part of the Vítkovice Group, Vítkovice Heavy Engineering. That move has been approved by a court.
Vítkovice Engineering employs around 650 in and around Ostrava. Many of them have been sent home since January and are waiting for unpaid wages. Operations at the firm have been interrupted because there is not enough cash to pay for raw materials or key components.
It was meant to be one of the biggest Chinese investments in the Czech Republic. Now a deal giving the Chinese energy giant CEFC a 50 percent stake in the financial company J&T Finance Group looks highly uncertain as do CEFC’s other activities in the country. The company is reported to be in financial straits and its CEO under arrest for economic crime.
The Czech Republic had a 11.9 billion crown surplus in the trade in goods
in January 2018. Exports rose by 0.4 percent and imports by 4.2 percent
compared with the same month in 2017.
The latest figure is 9.4 billion lower than the surplus during the same month in 2017.
One of the main factors in the diminished surplus was a significant 3.7 billion drop in the exports of vehicles as well as higher deficits in trade of basic metals and agricultural products.
That was offset slightly by a 1.9 billion crown dent in the deficit for crude petroleum and natural gas.
More and more Czech women are opening their own e-shops, according to a survey by the company Shoptet, providing a platform for some 13,000 online stores. Citing the findings, every sixth e-shop on average is owned by a businesswoman rather than businessman, Czech Radio reports. For many, opening an online store begins from a hobby, anything from clothing for pets, to doll collecting or board games. Gradually, their passion becomes their business.
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