As the deadline date for Brexit looms ever closer, Czechs are asking themselves what the economic impact of a “hard” Brexit would be. A report published by Česká spořitelna, says that as the country’s fifth largest trading partner, the UK’s exit on WTO rules could cost tens of thousands of Czech jobs and around CZK 55 billion. However, the economic impact would be too small to affect projected economic growth.
The Czech Film Fund will spend CZK 64 million on supporting eight upcoming feature films. The largest amount, some CZK 14.5 million, will help fund an upcoming biographical film about Václav Havel. According to the fund’s director Helena Bezděk Fraňková, the films cover a wide range of genres including historical pictures, those covering present day issues and a film for children.
The famous automobile manufacturer Škoda Auto presented its newest model at a special unveiling in Tel Aviv on Thursday. The hatchback, which is called Scala, is expected to cost around USD 15,000 and will enter the market in April next year. Škoda hopes to sell 10,000 models in the Czech Republic alone.
Czech Prime Minister Andrej Babiš launched a bilateral Czech-Moroccan Business Forum in the city of Casablanca on Wednesday. In his speech, Mr. Babiš said that Morocco could become the Czech Republic’s largest trading partner on the African continent and that the two countries are currently discussing cooperation in the automobile, aircraft and armaments industries.
It is generally still easier in the Czech Republic than elsewhere in the EU to hide crucial parts of corporate structures – including the ultimate beneficial owners of a business – from public scrutiny. While registering a business in a non-transparent tax haven is one way for owners to hide their identities, a growing number are taking a more brazen route: paying so-called “white horses” – often homeless people – to act as frontmen.
Tuesday saw representatives of the National Wine Centre and a special evaluation committee announce the best Czech wine of 2019. The winner is the Rulandské bílé, a special Czech form of Pinot Blanc from Castle winery Bzenec, specifically the late harvest collection 1508 from 2017. The winning vintage was selected out of a pool of 400 finalists.
The Czech Statistical Office reports that the average monthly salary in the Czech Republic is now at CZK 31 516, an 8.5 percent year-on-year increase. Indeed, growth in salaries will experience a 15-year high in 2018 overall. However, experts say that wage growth in the private sector should decrease next year.