Saturday, 11 July 2020


Billionaire Czech premier hits back at EU scrutiny

Bloomberg |
6 June 2019

Czech billionaire prime minister criticized the European Union for an audit that found him in a conflict of interest, calling the draft an attempt to destabilize the nation he runs. Under increased pressure, Premier Andrej Babis has shifted his rhetoric from having a pro-European attitude to a sharp criticism of the bloc that is scrutinizing his ties to business conglomerate Agrofert. "I will certainly ask Mr. Juncker how it's possible that he has such incompetent auditors," Babis told reporters on Wednesday.

It's 'permanent donations' instead of tax as Czechs target banks

Bloomberg |
5 June 2019

After a raft of countries across eastern Europe put the squeeze on banks to help fill gaps in their budgets, the Czech Republic is taking a different approach: asking for "permanent donations" from their annual income.

Hitler's henchman, Klimt's muse and a Czech castle in ruins

Bloomberg |
27 May 2019

Its heyday ended when the Nazis invaded. Now a chateau near Prague has a chance of a revival if a mystery buyer has deep enough pockets.

Czech banks avoid new tax by yielding to premier's fund plan

Bloomberg |
21 May 2019

Czech banks have agreed to contribute a modest portion of their profits to a national development fund to avoid a threat of special taxes that earlier afflicted their eastern European peers. Prime Minister Andrej Babis said on Monday he wants the units of Société Générale, Erste Bank, KBC and UniCredit to jointly pay an initial CZK 6 billion to the proposed fund in 2020 that would help finance public-investment projects. He wants others to join in as contributors later.

This is the best way to tax Google and Facebook

Bloomberg |
6 May 2019

The Czech Republic proposes the highest digital tax rate in Europe so far and a focus on targeted advertising.

Police suggest charging Czech PM with fraud

Bloomberg |
18 April 2019

Czech police recommended charging PM Andrej Babiš, the country's second richest man, for suspected fraud following a probe into the alleged misuse of EU funds. The probe against Babiš, who rose to power by attacking the political establishment and campaigning against Muslim refugees, focuses another spotlight on the EU's eastern wing, a region that's been rocked by scandal. Babiš rejected the allegations on Wednesday, denouncing them as "an organized plot" designed to ruin his political career.

Brexit delay gives gives brief window for possible Czech rate hike

Bloomberg |
18 April 2019

The delay to Brexit has potentially given the Czech central bank a small window to raise borrowing costs this year as it tries to put a lid on price growth before the economy slows, board member Tomas Holub said.

Czech billionaire accused of USD 1 billion fraud by New York hedge fund

Bloomberg |
11 April 2019

A Czech billionaire described as the largest commercial property landlord in Berlin was sued in the U.S. for allegedly defrauding a New York hedge fund and a Czech investment firm of more than USD 1 billion.

Global risks set to delay Czech rate hike

Bloomberg |
28 March 2019

The Czech central bank will probably refrain from raising borrowing costs as risks of a global economic slowdown outweigh accelerating inflation at home.

High debt is a problem for euro, says debt-averse Czech Republic

Bloomberg |
12 March 2019

Euro-zone countries' public debt piles are threatening to handcuff policy makers in the bloc as they brace for an economic slowdown, according to the head of the Czech central bank.

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