Business

Czech National Bank
CNB Raises Key Rate To 0.5% To Curb Inflation

For the first time since February 2020, the Bank Board of the Czech National Bank has raised interest rates. The key interest rate, on which the interest rate on commercial loans is derived, rose by 0.25 percentage point to 0.5 percent. The reason for the increase in rates is mainly concerns about rising inflation related […]

Czech Railways Acquires 100% Of CD-Telematika

České dráhy bought the remaining 29 percent stake in the telecommunications company ČD-Telematika from the PPF investment group. Both companies today definitively confirmed the transaction by signing a purchase agreement. The railways have thus become the sole shareholder of the company, the state carrier said today. The value of the transaction was not stated by […]

Chip Shortage Forces More Cuts At Skoda Auto Plants

Due to a lack of chips, Škoda Auto cannot complete up to 5,000 cars a week. The company currently has about 33,000 incomplete cars in parking areas, said Michael Oeljeklaus, head of production and logistics at Škoda Auto. Due to the lack of semiconductor components, according to him, the company will probably cancel 60 shifts […]