Articles for category: Business

O2 Czechia Profit Climbs Nearly 13%

The O2 operator increased its net profit by 12.9 percent year-on-year to 4.89 billion crowns in three quarters this year. Operating revenues rose by 2.9 percent to 30.08 billion crowns. The main sources of growth were revenues from O2 TV, mobile data, information and communication technologies and revenue growth in Slovakia. The company announced this in a press ...

Skoda Auto production line

Skoda Hammered As European Car Sales Plummet

This October was the worst in recent years in terms of new car registrations. However, some manufacturers benefited from the situation, especially the Korean ones. The European new car market continues to struggle with the crisis. After last year’s fall in registrations due to covid measures, a production crisis occurred this year due to a lack of ...

Czech Car Production Down 47% In October

Car production in the Czech Republic fell by 47 percent year on year in October due to outages caused by a lack of chips, and 68,202 passenger cars were produced. The Association of the Automotive Industry stated this in a press release. According to him, a total of 899,855 cars were produced this year, which is four ...

EU New Car Sales Fell By 30% In October

Sales of new passenger cars in the European Union fell by 30.3 percent year on year to 665,001 in October. The European Automobile Manufacturers Association (ACEA) announced this on its website today . Sales fell for the fourth month in a row and this October is the worst October in record history. The Volkswagen Group, of which Škoda Auto was the worst, did ...

Czech Companies To Spend 117 Billion Crowns On ESG By 2025

Companies in the Czech Republic plan to invest approximately 117 billion crowns in the environment and social sustainability (ESG) by 2025. At the same time, roughly two thirds of Czech companies plan to take the ESG criteria into account in their investment decisions in the next five years. 37 percent of companies have already used some form ...

Prusa Acquires Trilab, Expands Into Industrial 3D Printing

The largest domestic manufacturer of 3D printers, Prusa Research, has bought an 80 percent stake in the Czech company Trilab, which develops and manufactures 3D printers for companies. The companies stated this in a press release. They will not publish the price. Prusa Research joined the Hradec Králové company Trilab, which was founded in 2016 by Vojtěch ...

Sotio Biotech Acquires License To Develop Cancer Drugs

The biotechnology company Sotio Biotech from the PPF group obtained a license from the South Korean company LegoChem Biosciences (LCB) to use the technology to develop five new anticancer drugs. The price for licensing rights can reach up to 1.03 billion US dollars (22.8 billion crowns) and depends on the achievement of certain development stages. According to ...

Czech Producer Price Rise Highest Since 1992 In October

Industrial producer prices in the Czech Republic rose by 11.6 percent year on year in October, accelerating growth from 9.9 percent in September. This was their most significant growth since January 1992. Rising prices also accelerated for other manufacturers. In agriculture, prices were higher by 14.1 percent compared to last October, in construction by 7.5 percent and ...