Retail sales adjusted for calendar effects decreased by 0.2 percent year-on-year in October and fell by 1.9 percent month-on-month. Sales of non-food goods were lower, while sales of food grew, according to the Czech Statistical Office. October’s results were affected by measures against coronavirus spread, which closed several predominantly non-food outlets or had limited operations. […]
Ivan Bednárik, who has previously managed the subsidiary ČD Cargo, has become the new Chairman of the Board of Directors and CEO of Czech Railways. He will replace Václav Nebeský, who will move to the Deputy Chairman of the Board of Directors. The current Deputy CEO of ČD, Patrik Horný, then ends up in the […]
The Jaroslav Haščák, co-owner of the Penta Investments, whom the Slovak police detained on Tuesday on corruption charges, has resigned from his executive positions. However, he remains its co-owner. Brit Child is taking over Haščák’s executive functions. Brit Child joined Penta in November 2010 as a co-owner. Before that, he worked at Deloitte Central Europe […]
Slovak police detained and accused Jaroslav Haščák, the co-owner of the Czech-Slovak financial group Penta Investments, of corruption and money laundering. Dozens of police officers also launched a large-scale raid in the afternoon at Penta’s headquarters in Bratislava. The case is probably related to the leakage of recordings from wiretaps in the as yet unexplored […]
The Czech Republic’s manufacturing sector increased in November, survey data from IHS Markit showed on Tuesday. The headline manufacturing Purchasing Managers’ Index, or PMI, rose to 53.9 in November from 51.9 in October. Economists had forecast a score of 51.3. Any reading above 50 indicates expansion in the sector. New orders increased at the fastest […]
Billionaire Daniel Kretinsky and his business partner Patrik Tkac have boosted their stake in Foot Locker, making them the sneaker retailers top shareholder. Their company Vesa Equity Investment increased its stake in Foot Locker sports shoe retailer to 10.3 percent. Back in May, Vesa owned a 6% stake. The value of the share on the […]
Minister of Finance Alena Schillerová today approved the release of three billion crowns from the budget reserve for the Agricovid Potravinářství relief program. The minister announced it on Twitter. “I have signed a measure whereby we will release CZK 3 billion from the budget reserve for the Agricovid Potravinářství program. It will help up to 10,000 […]
CZG Group – Česká zbrojovka Group SE (CZG) reported record revenues of five billion crowns in the first three quarters of 2020. A year-on-year increase of 10.2 percent, thanks to a higher number of weapons sold and higher demand, especially in the US. The holding company also recorded a year-on-year increase of 10.2 percent in […]
The Czech Post plans to eliminate 2,371 jobs by 1 March next year, which means the dismissal of about 1,500 employees, as some of the positions are vacant. The state-owned company employs almost 29,000 people. The Minister of the Interior, Jan Hamáček, stated on Twitter that he wants an explanation of the plan. On Thursday, […]