OKD has resumed mining operations in its mines in Karviná, which closed on Monday after hackers took down the company’s computer network. The resumption of mining was possible after the creation of a separate internal computer network necessary for security. OKD created a fully functional separate network during the Christmas holidays in cooperation with external […]
Czech economic growth will slow to 2.2 percent next year from an estimated 2.5 percent this year. Likewise, wage growth will slow down, and unemployment will rise slightly. At the same time, inflation should fall, but it is still likely to remain above 2.5 percent. It results from the results of a regular survey of […]
Hackers attacked OKD’s corporate network Sunday, taking down all of their servers. The entire network is compromised, and all systems are inoperable, according to a company spokesperson. For safety reasons, OKD stopped all mining activity in its Karvina mines. The company is working with computer experts and NÚKIB to restore their systems. The OKD mining […]
The state-owned mining company OKD will lose several hundred million crowns this year. Prime Minister Andrej Babiš told reporters after meeting with the companies management. OKD had a profit of 1.3 billion crowns last year. This year’s loss is due to lower coal prices and the disaster last year at the ČSM Mine. The government […]
The European Investment Bank (EIB) has agreed to finance an investment programme to upgrade the electricity distribution network in the Czech Republic. As part of this initiative, Czech energy utility CEZ will receive a €330m loan, which will be used by the utility firm to modernise the network across nine regions, including Central Bohemia, Liberec […]
The Czech National Bank left interest rates unchanged in its latest meeting. The primary rate on which interest rates on commercial loans are derived remained at two percent. The last time the board raised rates was in May. According to CNB Governor Jiri Rusnok, the chance of a future rate increase rose slightly. Two of […]
Skoda Transportation and the Russian company Sinara Group set up a joint venture in Russia to manufacture metro, tram, and trolleybuses. Both parties hold equal shares in the new company. Sinara-Skoda will be headquartered in St. Petersburg, Russia. Which has the second-largest and rapidly expanding transport system in the country. Sinara Group is a Russian […]
Baur Formschaumtechnik, a domestic factory for plastic parts for the engines of Europe’s largest automakers, has filed for insolvency. The company submitted an insolvency petition after eleven years of existence. The company supplied large car manufacturers such as Volkswagen, Ford, and Daimler. This year, the company tried to save by negotiating the entry of the […]
Members of the World Trade Organization (WTO) agreed to extend the twenty-year moratorium on the introduction of tariffs for digital trade by six months. They have alleviated fears that people will have to pay duty on ebooks or software. “Members agreed to maintain the current practice, not to impose customs duties on electronic transmissions, until […]