Hospodarske noviny reports that arms manufacturer Ceska zbrojovka Group is weighing an IPO on the Prague stock exchange. CZ-USA Expansion In an interview with iHNed, President Lubomír Kovařík said the company would use the capital raised by sales of shares to support the expansion of its United States subsidiary CZ-USA. CZ-USA is building a $90 […]
Škoda launches the Škoda iV brand at the annual IAA auto show in Frankfurt, Germany on Tuesday. Škoda’s first two first electric production models are the ŠKODA SUPERB iV and the ŠKODA CITIGOe iV. Bernhard Maier, ŠKODA AUTO CEO, said, “ŠKODA has entered the era of electromobility. The dawn of this era is marked by […]
Czech consumer prices increased 2.9% in August, remaining within the Czech National Bank’s target range. Goods and Services Prices Prices of goods and services rose 2.5% and 3.8%, respectively. Month-on-month, consumer prices gained 0.1 percent in August. Import and Export Prices Import prices declined at 1.7% annually in July, while export prices dropped 0.5% y/y. Export […]
CEZ is expecting bidders to express their interest in acquiring its assets in Romania by Sept. 25, noon local time, the electricity producer said in an ad published on Monday. The state-controlled utility said that depending on the interest, it may sell all its assets in Romania or just part of them, namely in […]
The share of unemployed people stagnated in August at 2.7% after hitting the current historic low of 2.6% in June and May. The slight increase during summer months is typical as graduates and employees from the education sector enter the labour force. This means the unemployment rate could slightly decrease in the coming months, but […]
Daniel Křetínský has acquired a 4.63% stake in French mass retailer Casino, Guichard-Perrachon. The duo, who bought the stake via their Vesa Equity Investment company, become Casino’s second-largest shareholder at a time CEO and controlling shareholder Jean-Charles Naouri is hunting for ways to ease the company’s debts – and those of parent company Rallye – […]
Foreign investment in the Czech Republic plummeted in 2018 year-over-year. CzechInvest closed 82 deals valued over CZK 36 billion in 2018. A forty percent drop from the 2017 when investments exceeded CZK 60 billion. CzechInvest’s biggest projects in 2018 came from the plastics, metalworking and automotive industries. Czech Labor Shortage The Czech labor market is […]
The Czech Statistical Office released second-quarter wage data today. Czech nominal wages grew 7.2% in the second quarter y/y reaching CZK 34,105, breaking the CZK 34,000 mark for the first time. After accounting for inflation, real wages increased by 4.3% y/y. The number of employees rose by 0.5%. Wages grew 1.7% over the previous quarter. Median Wages […]
Nexen Tire officially launched operations at its new European tire plant in Zatec on 29 August 2019 with a grand opening ceremony. Over three hundred guests attended the opening, including the Global CEO of Nexen Tire, Deputy Minister of Industry and Trade of the Czech Republic, the Governor of the Usti nad Labem […]