Sales of new passenger cars in the Czech Republic fell by 18.8 percent to 202,971 vehicles last year. That’s almost 47,000 fewer cars than a year earlier. According to the Association of Car Importers, the reason for the decline was the restrictions due to the coronavirus epidemic. “The main drop was caused by the closure […]
The Czech central state budget ended 2020 with a record 367.4 billion crown deficit, almost twice the gap seen in the global financial crisis a decade ago, as the coronavirus pandemic hammered revenues and stoked spending. But it was below a forecast gap of 500 billion crowns envisaged by lawmakers in a mid-year budget revision […]
The international solar company with Czech roots Photon Energy NV has entered Prague and Warsaw’s regulated markets on the stock exchanges. The shares have been trading since this morning. The company has been traded on the unregulated markets of both exchanges – NewConnect in Warsaw and Free Market in Prague. The company’s shares will continue […]
The mood among Czech manufacturers improved in December for the eighth straight month, hitting its highest level since April 2018 thanks to stronger output and new orders, a business survey showed on Monday. Markit’s headline Purchasing Managers’ Index (PMI) rose to 57.0 in December from 53.9 in November, jumping further above the 50-point line dividing […]
Jaroslav Strnad’s CE Industries is preparing to participate in the auction for bankrupt Vítkovice Heavy Machinery, of which it owns 51 percent. This unexpected move has already been approved by the insolvency creditors’ committee and subsequently by the court. CE Industries wants to continue the production of tires and wheels for the railway industry. “For […]
In the dispute between Liberty Ostrava and Tameh Czech over energy prices, the Office for the Protection of Competition ruled in favor of the supplier Tameh. According to the Antimonopoly Office, it does not have a dominant position, and therefore there is no presumption that it would abuse such its position. “The Antimonopoly Office has […]
Libuše Šmuclerová, CEO of the Czech News Center media house, will resign on 1 January. She will continue to be the Chairman of the Board of Directors. The current CFO, Tomáš Stránský, will be the new CEO. Juraj Felix remains Co-CEO. As the Chairwoman of the Board of Directors of CNC, Šmuclerová will focus entirely […]
Sinclair Global Group based in Brno has been acquired by the Swedish Beijer Ref Group. Beijer purchased an 85 percent stake in the company and retains the right to purchase the remaining fifteen percent. The transaction, the value of which was not disclosed by the parties, is to be completed by the end of this […]
Daniel Křetínský’s Energetický a průmyslový holding (EPH) has reached an agreement to sell its 39 percent stake in the Polish coal company PG Silesia to Bumech SA. Bumech is also buying a stake from Braindour Development Limited and will own 99.975 percent of PG Silesia’s shares once the transactions are finalized. PG Silesia operates the […]