Trade unions are proposing a so-called “kurzarbeit” or short time in the Czech Republic in the event of a quarantine due to a coronavirus epidemic. The state would contribute wages so that worker’s incomes are not forfeited. The Czech-Moravian Confederation of Trade Unions (CMKOS) said today. The so-called kurzarbeit, which is used during a crisis, […]
The top four Czech banks reported strong growth in 2019. The total profit of the four largest banks operating on the Czech market last year increased by 7.1 billion to CZK 62.2 billion. According to reports by ČSOB, Česká spořitelna, Komerční Banka, and UniCredit Bank ČR and SR. The ČSOB group reported a net profit […]
Central European Media Enterprises (CME) shareholders approved PPF’s takeover bid by billionaire Petr Kellner. The value of the transaction is $2.1 billion. CME includes television stations in five countries of Central and Eastern Europe, including the Czech group Nova. Shareholders voted on the deal the day after US Republican Senator Marco Rubio said he wants […]
Moody’s has downgraded this year’s global auto sales forecast due to the coronavirus. Worldwide car sales are expected to decrease by 2.5 percent. “The coronavirus epidemic undermines the demand for cars and disrupts the automotive supply chains,” the agency said. Despite today’s forecast deterioration, global sales should slow this year compared to last year, when […]
Moody’s predicts growth of the Czech economy will slow to two percent this year and next. The international rating agency predicted this in its annual report on the Czech Republic today. Last year, according to the Czech Statistical Office, growth slowed to 2.4 percent from 2.8 percent a year earlier. Moody’s also appreciates the government’s […]
OKD’s computer systems are fully operational after being disrupted by hackers in December. The company estimates damages at CZK 5 million. Hackers attacked the company’s computer network before Christmas, and the company was forced to shut down mining operations on 23 December for security reasons. The OKD hack happened during the holidays, the company, in […]
GreenGo, a Hungarian carsharing service, has officially launched in Prague. The startups’ service launches with 100 Volkswagen e-up! electric vehicles in Prague. The company expects the number of cars to double within three months. The company has no brick and mortar locations. Cars are available for rent on the GreenGo mobile app, which provides users […]
Daniel Kretinsky’s EP Power Europe (EPPE), a member of the EPH Group, will become the sole owner of the German Lignite Power Plant Schkopau. EPPE, through its subsidiary Saale Energie, is purchasing 58 percent of the power plant from Uniper. The company will take over the entire plant effective October 2021. Germany is gradually abandoning […]
Microsoft s.r.o., the company’s Czech subsidiary profits grew by four percent to CZK 176 million in the fiscal year ending June 30. Revenues fell by 4 percent to CZK 1.78 billion. The subsidiary remits all profits to the parent company Microsoft in Redmond. Cloud services, which include Office 365, Azure, Dynamics 365, and Microsoft 365, […]