The German Central Bank has published a prediction on the country’s expected economic growth for 2019. It lowered its expectations from 1.6 percent to 0.6 percent. The Czech manufacturing sector is very dependent on German economic strength and Germany is also the Czech Republic’s largest trading partner. However, analysts questioned by the Czech News Agency say that changes in the forecast were expected and will not affect the Czech economy.
The exemption of the Czech coal power plant Chvaletice in north-east
Bohemia from EU norms would result in 196 premature deaths over a ten-year
period, suggests a report commissioned by the Czech branch of the
environmental organisation Greenpeace.
Under the new rules approved by EU member states, which will come into force in 2021, power plants in the EU will have to significantly cut the amount of pollutants. The company Sev.en Energy, which operates the Chvaletice power plant, has asked for an eight-year exemption from the norms, arguing that lowering emissions would require inadequate expenses.
Czech state-controlled power utility ČEZ reportedly plans to sell its
assets in Romania and Turkey, in addition to a previously reported plans to
divest from Bulgaria.
ČEZ chief Daniel Beneš said in an interview with the business daily Hospodářské noviny that the group is also considering selling some assets in Poland. In total, the Prague-listed company hopes to get tens of billions of crowns from the sales.
Shareholders in ČEZ, which is 70 percent owned by the state, would vote on the new strategy at the annual general meeting on June 26, he told the daily.
Proceeds would be used to construct renewable energy assets and new nuclear units as well as to the modernize ČEZ’s distribution network, he said.
Swiss electricity producer Alpiq has agreed to sell its two Czech
coal-fired power stations to Sev.en Energy, owned by investor Pavel Tykač,
the companies announced on Friday.
The Swiss buyer paid 280 million euros for the plants in Kladno, central Bohemia; and Zlín, southern Moravia.
It said the units can use a fuel mix that includes biomass and two flexible gas turbines, in line with EU environmental standards.
Car production in the Czech Republic fell by 3.8 percent year-on-year to
363,052 vehicles in the first quarter of 2019, the Automotive Industry
Association said on Wednesday.
The drop was led by Škoda Auto, the Czech Republic’s largest exporter, whose production fell by 3 percent in annual terms. The carmaker said earlier that its sales in January-March fell mainly due to lower demand on the Chinese market.
Two other smaller carmakers noted a rise in output. TPCA, a joint venture of Toyota, Peugeot and Citroën, increased production by almost 5 percent to 58,772 units in Q1, while Hyundai’s production fell by 12 percent to 73,000 cars.
Prime Minister Andrej Babiš on Wednesday announced the details of a planned cabinet reshuffle. Trade and Industry Minister Marta Nováková will be leaving her post at the end of the month, together with Transport Minister Dan Ťok, who is leaving office at his own request following fierce criticism from opposition deputies. I asked political analyst Jiří Pehe about the timing of the reshuffle and the reasons behind it.
February saw Czech industrial production experience a year-on-year growth of 1.5 percent, according to the latest Czech Statistics Office report released on Monday. The growth was mainly the result of energy production. The automobile manufacturing sector experienced a decline, but improved compared to previous months.
New foreigners’ law to change conditions for non-EU nationals
Czech rock climber Adam Ondra knocked out of World Cup in Japan
Czech foreign ministry reports record number of visa applications
New index shows locations with best quality of life in Czech Republic
Archaeologists unearth rare Renaissance-Baroque brew house in ‘Czech Paradise’