Business

CEZ’s Net Profit Up 9% In H1

ČEZ’s net profit grew by nine percent year-on-year to CZK 14.7 billion in the first half of the year. Operating profit before depreciation (EBITDA) increased by 11 percent to CZK 38.7 billion, CEZ’s operating revenues increased by six percent to CZK 106.3 billion, the company announced today. The company reported that the coronavirus pandemic had […]

CEZ Sells Two Polish Wind Farms To KGAL

CEZ Energy Group has sold the Krasin and Sakówko wind power plants in Poland to KGAL. The company expects to sell the remaining four Polish wind projects by the end of the year. ČEZ would like to start selling the central part of Polish assets: the Skawina and Chorzów coal-fired power plants and other assets […]

Zatecka Teplarenska Fined CZK 2.25M For Subsidy Fraud

Žatecká teplárenská (ZT) has been ordered to pay CZK 2 million for committing EU subsidy fraud. In 2016 ZT, falsified an EU subsidy application for a CZK 80 million project. The EU subsidy covered 85 percent of the costs, and the State Environmental Fund (SEF) paid the remainder of the balance. The Ústí nad Labem […]

CTU Launches 5G Frequencies Auction

The Czech Telecommunication Office (ČTÚ) today launched a tender in which it will distribute radio frequencies for fast 5G mobile networks in the 700 MHz and 3400 to 3600 MHz bands in the form of an electronic auction. The Office informed about it in a press release. The auction itself will take place in the […]

Czech Trade Surplus Surges In June

The Czech Republic’s foreign trade surplus grew by CZK 17.6 billion year-on-year to CZK 34.1 billion in June, the highest growth on record for the month. The Czech Statistical Office attributes the trade surplus to the decline of imports. “Foreign trade in goods in June recorded the historically highest trade surplus in the month under […]

Czech Retail Sales Down 2% In June

The volume of retail sales in the Czech Republic declined by two percent year-on-year in June, according to seasonally adjusted figures released by the Czech Statistical Office. “Revenues from fuels and food decreased year-on-year, while revenues from the sale of non-food goods increased by almost five percent. Higher sales were recorded in stores with household […]

Czech National Bank
CNB Holds Key Rate Warns Of Slow Recovery

The Czech National Bank kept interest rates unchanged Thursday. The main interest rate, on which the interest rate on commercial loans is based, thus remains at 0.25 percent. According to CNB Governor Jiří Rusnok, a change in the CNB’s interest rates is unlikely by the end of the year. “I do not think that anything […]

Czech Auto Industry Shows Signs Of Recovery

In the first seven months, sales of new passenger cars fell by 23.6 percent year on year to 114,799 vehicles. According to the Association of Car Importers, despite the sharp decline, the market has been gradually recovering in recent months, with sales falling by 9.3 percent in July. The first is the Škoda brand with […]