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 […]

Czech Video Game Industry Sees Strong Growth In 2020

The turnover of domestic companies engaged in the development of computer games last year increased by 17 percent to 5.32 billion crowns. It should rise another tenth to 5.8 billion this year. This was stated by representatives of the Association of Czech Game Developers at today’s press conference. “The gaming industry has been successful not […]

EU Launches New Google Antitrust Investigation

The European Commission (EC) has launched another investigation into the US Internet company Google. This time, he wants to find out if the company is restricting competition in the digital advertising technology market. This is by prioritizing its online advertising services over competing publishers, advertisers, and businesses that offer similar services. The Commission said this […]

Liberty Ostrava Appoints New Executive Director

Aleksandr Ivanov has been appointed the new executive director of the Liberty Ostrava (LO) metallurgical company. He worked for 20 years in the management of various companies, most recently as a director of the production in the Ukrainian integrated smelter Krivoy Rog. Until the end of last year, the smelter was led by CEO Pascal […]

Seznam
Seznam Sees Revenue And Profit Grow In 2020

Last year, the domestic internet leader Seznam.cz increased its operating profit by 13 percent to approximately 1.6 billion crowns. Revenues increased by 5.5 percent to CZK 4.95 billion. The traffic to the homepage increased, as did the use of Zboží.cz and Mapy.cz services. Searches grew six percent year over year. The company announced this in […]

Michaela and Zdenek Bakala
OKD Is A Closed Chapter, Says Michaela Bakala

Michaela Bakala is an entrepreneur, manager, philanthropist, mother, and the wife of the owner of the media company Economia, in which she was a member of the Board of Directors for eight years. “My husband’s investment in the media was not an investment for his benefit or influence. As I know him, he was aware […]

CEZ Begins Security Assessment For Dukovany Tender

Elektrárna Dukovany II from the ČEZ Group started safety assessments of the three remaining companies bidding to build a new nuclear unit at the Dukovany power plant. The French company EdF, the American Westinghouse, and the South Korean company KHNP were contacted. As expected, the Russian company Rosatom and the Chinese company CGN did not […]