Saturday, 11 July 2020
Business | Bloomberg

The Czech Republic's billionaire prime minister is turning the coronavirus crisis into an opportunity to roll out an investment firehose he's been dreaming about since taking power. Andrej Babis has overseen one of Europe's most successful campaigns to overcome the initial wave of Covid-19. Now he's trying to pull the economy out of recession before the economic fallout risks undermining his popularity before 2021 elections.

Business | Reuters

A third of Czech companies expect orders to drop by 20-40% over the next two months as they continue to feel the impact of the coronavirus pandemic, although they are not yet planning massive layoffs, an Industry Confederation survey showed on Thursday.

Business | Radio Prague

Czech breweries are counting the costs of the coronavirus crisis. During the state of emergency which closed some 50,000 pubs around the country, beer consumption took a dive and although the government-imposed restrictions have now been lifted, the pace of recovery is slow.

Finance |

Prices for flats in the Czech Republic increased in the first three months of 2020. Prague had the highest prices per square meter and the largest number of transactions. The Czech capital, however, did not see the largest year-on-year jump in prices.

National | Business | Radio Free Europe/Radio Liberty

A former Russian journalist who has been arrested on treason charges is alleged to have handed secrets to the United States via the Czech intelligence service, according to his lawyer. Ivan Safronov was detained on July 7.

Business | The Irish News

The Czech owner of Kilroot Power Station in Co Antrim, EPH, has said its GBP 600 million proposal to transform the coal-fired power station into a new low-carbon energy park, could preserve more than 150 permanent jobs on the site.

Finance |

The abolition of the property acquisition tax was approved by a large majority of deputies in the Chamber of Deputies, the lower house of the Czech Parliament. A proposal to maintain the deductions on mortgage interest also passed, but with less support. The proposals now go to the Senate, and if approved there they must be signed by the president before taking effect.

Finance | Reuters

The Czech lower house of parliament approved a government plan to run a record 500 billion crown central state budget deficit in 2020, more than 12 times the original target set before the coronavirus pandemic hit.

Business | Brno Daily

The Czech Republic has recorded the second biggest increase in rents in the European Union in recent years, with rents rising by 80% in the past 13 years. In the EU, both rental and sale prices of property increased by around 20%.

Business | Radio Prague

The decline in economic growth in the Czech Republic is accompanied by a surprising phenomenon – a relatively low unemployment rate, the financial daily Hospodářské noviny notes. Analysts predict it will not be long before the unemployment figure starts to climb.

Business | Eurobuild CEE

The Czech Republic is the most attractive European manufacturing hub and the fourth most attractive globally, according to Cushman & Wakefield's annual Global Manufacturing Risk Index.

Business | EU Reporter

The European Commission has approved a CZK 10 billion Czech scheme to support enterprises active in the primary agricultural sector and in food and feed production affected by the coronavirus outbreak. The scheme was approved under the state aid Temporary Framework.

Business | Radio Prague

Cigarette consumption in the Czech Republic dropped by more than 60 million over the past year, Czech Radio reported on Tuesday, citing data by the agency Nielsen. The biggest drop in consumption was recorded in March and April, when a state of emergency was in place in the Czech Republic.

National | Business | Brno Daily

The new law is based on an EU Directive, and will hopefully empower people with knowledge of corruption being committed, for example, to come forward, without fear of retaliation from their employer.

National | Business |

Four years after major tech platforms first signed up to voluntarily remove illegal hate speech, EU lawmakers are applauding their efforts and at the same time, asking the tech companies to do better. According to a report in Tech Crunch, EU lawmakers are working on a new draft of measures aimed at online liability and individual platform responsibilities. Evaluating and removing hate speech is one of those measures.