Saturday, 11 July 2020

Bloomberg

German gloom weakens rate-hike case for surprise Czech hawk Mora

Bloomberg |
24 October 2019

One of two central bankers who voted to raise interest rates in the Czech Republic just last month signaled he may be ready to change his mind. The koruna weakened against the euro.

Czechs plan USD 5 bn spending boost as slowdown risks loom

Bloomberg |
17 September 2019

The Czech government will join its peers across emerging Europe in putting more money in the hands of the poor and elderly while also trying to preserve one of the continent's lowest levels of debt. Prime Minister Andrej Babis's cabinet approved a 2020 budget draft Monday that raises spending on pensions, public salaries, roads and railways. While he's counting on the economic expansion to continue bolstering state coffers, critics say the risk of a global slowdown may imperil his projections.

Czech billionaire's property firm seeks end to fund's suit

Bloomberg |
12 September 2019

Czech property billionaire Radovan Vítek's company said the New York hedge fund accusing him of a USD 1 billion fraud is wrongfully attempting to apply U.S. racketeering law to businesses that operate overseas. Vítek's CPI Property Group, the largest commercial property landlord in Berlin, said Tuesday in a New York court filing that a lawsuit by Kingstown Capital Management should be tossed out because it was filed too late and overlaps with claims already made in a case pending in Luxembourg since 2015.

Czech craft beer makers brew for Brexit

Bloomberg |
4 September 2019

A group of small brewers is hoping the U.K. will keep drinking through its political crisis.

A respite for Babis isn't bad news for Czechs

Bloomberg |
4 September 2019

If the prime minister doesn't have to face criminal charges, it'll mean more stability but not more illiberal excess.

Government on brink of split-up as ruling partners bicker

Bloomberg |
19 August 2019

Czech PM Andrej Babis pushed his minority government closer to the brink of a split-up, refusing to back the appointment of a ministerial candidate from his junior coalition partner. Babis, who previously had not opposed the nomination for culture minister from the Social Democrats, told TV Prima late Friday night that he wouldn't be in a government with his coalition partner's choice for the post. By reversing course, he aligned himself with political ally Czech President Milos Zeman.

Junior ruling party sets ultimatum for staying in cabinet

Bloomberg |
16 July 2019

The Social Democrats set a final condition for staying in the government, prolonging a political crisis that has brought the ruling coalition to the brink of collapse. The party said Monday it will leave the minority cabinet unless President Milos Zeman appoints their nominee for culture minister. A potential coalition breakup would be a blow for PM Andrej Babis. But the departure of his junior partner wouldn't automatically trigger early elections.

Czech billionaire claims first round in fight with New York fund

Bloomberg |
1 July 2019

Czech property billionaire Radovan Vitek is claiming victory in the first round of a transatlantic legal fight with New York hedge fund Kingstown Capital Management, which alleges he engineered a USD 1 billion fraud scheme.

Czechs shun Eurobond market as USD 6.5 billion repayments loom

Bloomberg |
21 June 2019

As its emerging-market peers flock back to the foreign debt markets, the Czech Republic has a plan to significantly curb its Eurobond sales after successfully testing an alternative route to global investors.

Global gloom not enough to deter top Czech hawk on rate hike

Bloomberg |
14 June 2019

The Czech economy warrants higher interest rates as domestic price pressures outweigh the effects of a global slowdown, according to central banker Vojtech Benda.

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