The Regional Court in Ostrava today rejected a joint lawsuit in which the mining company OKD (now OKD Receivables Administration) demanded more than CZK 24.5 billion from New World Resources NV (NWR) and entrepreneur Zdeněk Bakala. Among other things, for dividends paid, which they consider to have been unduly paid. According to the court, the dividend payments […]
The minimum wage will increase by CZK 1,000 to CZK 16,200 from January. The regulation was approved by the Cabinet. This was stated by Prime Minister Andrej Babiš (YES) at a press conference after the government meeting. With the minimum wage, the guaranteed wage will increase, depending on the professionalism, complexity and responsibility of the work, up to […]
The Polish company Allegro has agreed to take over a 100% stake in the Czech group of e-shops Mall Group and in the courier company WeDo. The total value of the transaction is up to 975 million euros (approximately 24.7 billion CZK), said Rockaway Capital in a press release. Together with the investment groups PPF […]
Retail sales in the Czech Republic slowed down in September, but according to the Czech Statistical Office (CSO), the trend in retail trade has already returned to the same growth rate as before the crisis after the easing of anti-coronavirus measures. The September increase in retail sales by 3.4 percent was slightly below analysts’ expectations. According to […]
The European Bank for Reconstruction and Development (EBRD) has downgraded this year’s growth in the Czech economy to 3.4 percent from the previously expected four percent. Next year, however, it expects growth to accelerate to 4.6 percent. This represents an improvement over the summer forecast, which expected next year’s economic growth of 3.8 percent. This follows from today’s […]
The Bank Board of the Czech National Bank today raised the key interest rate by 1.25 percentage points to 2.75 percent. Central Bank spokeswoman Markéta Fišerová informed about it. This is the most significant increase in rates since 1997. The main reason for the rise in interest rates is rising inflation, which approached the 5% mark in […]
Komerční banka’s net profit for the three quarters of this year rose by 40.7 percent year on year to 8.6 billion crowns. The bank’s loans and client deposits increased. Net operating income for the first nine months increased by 1.3 percent year on year to 22.6 billion crowns. Operating costs fell by 0.7 percent to 11.4 billion crowns. The […]
Imports of used cars to the Czech Republic rose by 21 percent year on year to 153,742 in ten months this year. By about 2,000 cars, imports exceeded the same period in 2019 and were also higher than in the whole of last year. This follows from the data of the Association of Car Importers. The average […]
According to the unions, Škoda Auto will manufacture cars every day at least until the end of November. Deliveries of chips from Malaysia were partially resumed, the Škoda trade union weekly reported today. Production at Škoda Auto was resumed at night from Sunday to Monday after a two-week outage. “The outlook until the end of November is […]