Hyundai launched the production of its Kona Electric cars at its Nošovice plant this week. It will be the first electric car produced in the Czech Republic. The Nosovice plant will produce Kona Electric cars for Germany, France, the Netherlands, Norway, the Czech Republic, Slovakia, and Poland. The factory will produce 30,000 Kona’s this year. […]
Vítkovice Heavy Machinery (VHM) in Ostrava has halted production and sent workers home amid a cash shortage. The company employs approximately 800 people. Energy suppliers have cut off electricity and hot water for the company, and employees are home today with 80 percent wages. The company does not seem to have the money to pay, […]
German energy company E.ON has selected Czech billionaires companies and Pražská energetika (PRE) for a shortlist of companies in the sale of its retail activities in the Czech Republic. The value of Czech operations, which are associated with innogy energy company, is estimated to be around EUR 800 million (over CZK 20 billion). In addition […]
The Czech government approved interest-free loans for companies affected by the coronavirus. Businesses will be able to obtain interest-free loans beginning in April due to problems caused by the coronavirus. The government set aside CZK 600 million for loans. Companies can apply for money through the Czech-Moravian Guarantee and Development Bank (ČMZRB). Businesses will be […]
Oliver Dlouhy, founder, and co-owner of Kiwi.com, won the EY Entrepreneur Of The Year award for 2019. Kiwi.com is one of the most successful Czech startups with customers around the world. The organizers announced the results in the evening in Žofín Palace in Prague. The consulting firm EY (formerly Ernst & Young) has been organizing […]
Karel Komárek’s lottery and gaming company Sazka Group has secured majority ownership of Casinos Austria. The change in ownership comes out of a cooperation agreement between Sazka Group and the Austrian state holding ÖBAG Sazka is already the largest shareholder in Casinos Austria, with a 38.3 percent stake. Thanks to an agreement with ÖBAG, its […]
CEZ Power Group will request temporary exemptions from emission limits for some of its power and heating plants. New European rules requiring the best available technology (BAT) will come into effect next year, which will add requirements for the operation of the plants. The standards apply to emissions of nitrogen, particulate matter, sulfur, carbon monoxide, […]
Daniel Kretinsky and Patrik Tkac’s VESA Equity Investment increased its stake in French retailer Casino. They now own 6.88 percent of the company and 5.17 percent of the voting rights, according to the French market surveillance authority AMF. VESA Equity bought the shares on the market on 27 February, Reuters reports. Casino is one of […]
The Mlada Fronta publishing house, publisher of Euro weekly, has reached a financing agreement with Radovan Vitek’s CPI Property Group. CPI will provide it with a credit line of CZK 45 million, which will be drawn gradually. The real estate group wants to take over Mlada Fronta as part of the insolvency proceedings. Finance from […]