A private Czech television is joining forces with CNN to create a news channel. The Czech Prima Group and CNN International Commercial say the channel, CNN Prima News, will start continuous broadcasting in 12 months. CNN Prima News will be the ninth channel the Prima Group operates. Its broadcast will include local news […]
Czechs have long been weary of exchange offices, some of which surprise clients by unrealistic exchange rates, or high exchange payment charges. For unsuspecting tourists new to the country, they can be a very sour welcome. To tackle this problem, a new amendment to the Foreign Exchange Act was passed by Parliament in December, […]
The Czech National Bank (CNB) Board kept its interest rates unchanged at its meeting held on March 28 as expected. A hike in May, when the new forecast is to be presented, still remains a possibility if the data stabilizes and Czech crown remains weak. The two-week repo rate remains at 1.75%, the discount rate at 0.75% […]
Having a package delivered while you’re not at home is a frustrating exercise that occasionally ends with you coming home to a nicked parcel. Skoda, like a few other manufacturers before it, is looking into a way to turn your car into a mobile package drop-off. Skoda, a member of the Volkswagen Group, announced […]
The head of Czech National Bank sees economic signals that point in both directions, towards continued growth and a slowdown, he was quoted as saying on Monday. The central bank raised its main two-week repo rate to 1.75 percent in five steps last year, then paused in December and February Governor. Some analysts see […]
When Czech billionaire Petr Kellner joined a delegation to Beijing in 2014 that included President Milos Zeman, he was looking to dig deeper into the China gold mine. The lucrative success he has enjoyed since may turn out to be an unexpected headache. Kellner, the richest person in the ex-communist wing of the European Union […]
Bakala and Kadas do not have to return CZK 12 billion of dividends, British court ruled. Businessmen Peter Kadas and Zdeněk Bakala, former owners of NWR, were victorious in court this week. The High Court of Justice in London decided they do not have to return dividends, which their company CERCL Mining paid itself in […]
Foreign and internal economic factors will cause the Czech exports sector to lose its breath in the second quarter of 2019, at least according to an export prediction method produced by the Exporter Association and Raiffeisen Bank. Authors of the study say that the under saturated labour market in the Czech Republic has forced many […]
The Czech IHS Manufacturing Purchasing Managers Index (PMI) dropped to 48.6 in February from 49.0 in January, the lowest since January 2013, signalling a faster deterioration in the health of the Czech manufacturing sector, according to a report from IHS Markit published on March 1. “Czech manufacturers continued to register a difficult start to 2019, […]