Prague, May 25 (CTK) – Czech-Slovak group J&T has received the Kc11.5bn it was owed by CEFC from China’s state-run CITIC Group, and it will start releasing CEFC’s pledges, J&T confirmed the information officially today after 14:00. J&T and CITIC agreed on strategic cooperation and CITIC’s taking over CEFC’s debt to J&T, with Rainbow […]
Prague, May 25 (CTK) – The first-quarter profit of four largest banks on the Czech market reached Kc13.1bn in total, which was nearly 2 percent more annually, according to the banks’ financial results. Experts mostly describe the banks’ performance as favourable even though it is markedly influenced by one-off factors. The household debt […]
Prague, May 25 (CTK) – A total of 57 percent of agricultural companies have invested in automation and robotisation over the past ten years, according to a survey of Trexima company, with the cooperation of the Agricultural Association and trade unions in the field. Despite such investments, agricultural companies deal with a lack of […]
Prague, May 24 (CTK) – The introduction of the EU’s privacy protection directive (GDPR), to come in force on Friday, will cost Czech firms some Kc25bn in total, according to the latest survey that the Chamber of Commerce made among 459 firms of all sizes across sectors. Most companies will pay no more than […]
Two Brno art students have done what many people dream about: turning their hobby in a business. In this case the two passionate musicians built their own musical kit in the form of boxes. They initially offered workshops explaining the DIY process and then started to sell the equipment. The result is a multi-million crowns […]
Ostrava, North Moravia, May 22 (CTK) – Czech steelworks Vitkovice Steel raised its EBITDA (earnings before interest, taxes, depreciation and amortisation) annually by 12.6 percent to Kc421m in 2017, company head and board chairman Dmitrij Scuka told journalists today. Net profit of Vitkovice Steel reached Kc191m last year. The results show that the […]
Prague, May 22 (CTK) – Czech energy group CEZ proposes paying out of Kc21m worth bonuses to its management for a general meeting which will take place on June 22, according to the invitation to the general meeting, no bonuses for the management were paid in the previous three years. In 2015 and 2016, […]
Prague, May 21 (CTK) – Czech-Slovak group J&T has taken control of some CEFC Europe’s subsidiaries, including the Florentinum administrative complex project, Mandarin Oriental hotel, building of former Zivnobanka bank in Prague’s centre, and traditional Chinese medicine fund, Hospodarske noviny (HN) business daily wrote today. On Thursday, J&T dismissed CEFC Europe’s board and appointed […]
Prague, May 18 (CTK) – Czech-Slovak group J&T has obtained no information confirming that China’s CITIC Group has paid CEFC Europe’s debt of EUR450m (Kc11.5bn), a source from J&T told CTK today. According to a previous statement from CEFC, the due date was today. On Thursday, J&T said it had dismissed CEFC Europe’s […]