Business

Czech Deficit Hits 279.4 Billion Crowns In July

At the end of July, the state budget deficit rose to 279.4 billion crowns from 265.1 billion crowns in June. The Ministry of Finance (MF) informed about it in a press release. This is the worst July result since the establishment of the Czech Republic. Last year, at the end of July, the deficit was CZK 205.1 billion. […]

Czech Manufacturing Loses Momentum In July

Conditions in the Czech manufacturing sector continued to improve in July, however, the PMI index fell slightly to 62 points from 62.7 points in June. Even so, this is the second-best figure since the start of data collection in June 2001. IHS Markit reported. The level of 50 points in the index is the divide between growth […]

Moser Expands Production Capacity

Moser glassworks started the operation of a second furnace. The world-famous glassworks shut it down in December 2019 due to the unfavorable market situation. After a year and a half, Moser, which specializes in luxury glass sets and lead-free glass piece products, has enough orders again to light another furnace. The last of the three furnaces could be […]

Czech Economy Grew 7.8% In Second Quarter

The Czech economy grew by 7.8 percent year on year in the second quarter and increased by 0.6 percent compared to the previous quarter. This resulted from the first estimate of the Czech Statistical Office, which published it on its website. Gross domestic product (GDP) returned to year-on-year growth after a year and a quarter. Its amount […]

Russia Fines Google For Violating Data Storage Law

A Russian court on Thursday fined Google three million rubles (roughly 879 thousand crowns) for violating a law that requires Internet companies to store personal data of Russian users on servers in Russian territory. TASS and Reuters reported, citing court statements. He said that Google had been punished for the first time in this case. Earlier, however, […]

Volkswagen Reports Record First Half Earnings

The German car group Volkswagen reported a record operating profit of 11.4 billion euros (291 billion CZK) in the first half of the year. In the same period in 2019, ie before the pandemic, the operating profit was ten billion euros, which was a record until then. The company also increased its full-year forecast. The outlook for operating […]