Škoda Auto’s operating profit fell by almost 75% to 228 million euros in the first half of the year down from 824 million euros a year ago. The automaker’s revenues in the first half of the year fell by 25% to 7.5 billion euros down from 10.2 billion euros a year ago, parent company Volkswagen […]
Czech exports could fall by CZK 500 billion this year, a year-on-year decline of 16 percent and the foreign trade balance could fall by 80 percent to CZK 20 billion, according to estimates by the Association of Exporters. These results can be expected provided that the next wave of coronavirus does not cripple the economy […]
Tomáš Petříček, Minister of Foreign Affairs, plans to lead a trade mission to the Middle East and North Africa by the end of 2020. It is also necessary to focus on European markets and countries such as France, Portugal, and Kosovo, the Minister said at the Czech Export Forum. Due to the coronavirus pandemic, most […]
Sokolovská uhelná a.s. (SUAS) says it will shut down its compressed gas plant in Vřesová in August. After failing to reach an agreement with the government to allow its continued operation. Up to one thousand employees could lose their jobs due to the plant’s closure. The closure of the gas plant, which processed brown coal, […]
The Czech economy likely saw its sharpest decline in the second quarter due to COVID-19. Economists forecast the GDP to fall from 9.7 to 18 percent and a quarter-on-quarter drop of 7.4 to 14 percent. The good news, according to analysts, is that the economy is beginning to recover. The Czech Statistical Office will publish […]
The state and the energy company ČEZ have signed a deal for a new unit at the Dukovany Nuclear Power Plant. Deputy Prime Minister and Minister of Industry and Trade Karel Havlíček and CEZ CEO Daniel Beneš signed a contract in addition to the umbrella agreement, which defines the zoning permit for the construction and […]
The Ministry of the Interior signed a tender with Škoda Auto for 3,300 cars over the next three years. This year alone, 1,250 vehicles will be delivered, today the ministry received the first 35 cars. The department ordered the Kodiaq, Scala, and Fabia models, company representatives, police, and Interior Minister Jan Hamáček told reporters. The […]
Tatra Trucks will deliver 41 special fire trucks to Germany. According to the contract, the Brandenburg fire brigade will receive new Tatra trucks in 2021 and 2022. The automaker won the contract in cooperation with THT Polička, a traditional partner of theirs in this area. The company did not state the monetary amount of the […]
Venture capitalists are embracing e-bike startups as people look for alternatives to public transportation amid the COVID-19 pandemic. Tech investors are betting on young e-bike startups from cyclist-friendly cities such as Berlin, Tallinn, Amsterdam, or Brussels. The market for e-bikes is massive. Deloitte estimates that more than 130 million e-bikes will be sold between 2020 […]