Hungarian electric car-sharing company GreenGo announced they are expanding operations abroad for the first time in the Czech Republic. The company has solidified its operations in Budapest and is ready to expand across Central and Eastern Europe starting with Prague. GreenGo is the first company to introduce a car-sharing platform made up entirely […]
The Ministry of Finance has awarded Huawei a contract to build, maintain, and operate their IT infrastructure. Huawei won the bid through their domestic partner Huatech. Huawei also received a project at the State Printing Works of Securities. The contract was financed at CZK 9.661 million excluding VAT (CZK 11.7 million including VAT), with […]
The Ministry of Finance has adjusted its economic growth outlook for 2019 and 2020 down slightly. The ministry forecasts 2.4% growth in 2019 and 2.2% in 2020. In July the ministry forecast 2.5% growth in 2019 and 2.3% in 2020. The Ministry of Finance adjusted its forecast based on new economic data published […]
The Czech Statistical Office reported that confidence in the Czech economy rose slightly to 95.6 in August from 95.1 in July. Among entrepreneurs, who were pessimistic in five years in July, confidence has grown by 0.8 points to 93.6 points. Consumer confidence, however, has decreased to 105.1 points from 106.4 in July. Compared to last […]
Skoda announced they have opened the most advanced paint shop in Europe at its Mladá Boleslav plant. Up to 168,000 car bodies will be coated with paint at the site each year, taking the plant’s total annual painting capacity up to 812,000 vehicles. Skoda has invested CZK 5.5 billion in the new building, creating […]
Liberty Ostrava, formerly ArcelorMittal Ostrava posted a net profit of CZK 4.1 billion in 2018. An increase of over 23% year over year. The company attributes the positive growth to increasesd production and higher margins due to favorable conditions in the steel market. Liberty Ostrava produced 2.2 million tons of steel in 2018, up from […]
After a slight dip in the first half of the year, auto production has begun ramping up. From January to July, output grew 1.4% to 834,247 passenger cars and light commercial vehicles. Skoda Auto produced 512,042 vehicles, an increase of 1.7%, while Kolín TPCA increased production by 4.5% to 134,455 vehicles. Hyundai Nošovice is down […]
Czech Post needs restructuring, according to Prime Minister Andrej Babis in a post on Facebook. He noted plans to sell unused real estate held by the Czech Post. According to Babis, the money earned from the sales will go towards updating their technology. “The old Czech Post is dead,” Babis said. “The only solution is restructuring, […]
Inflation was up by 0.2 percentage points month-on-month in July to 2.9% returning to May levels after a brief slowdown in June, data from the Czech Statistics Office (CSO) published on August 12 showed. Rising housing costs, notably rents and electricity which went up by 4% and 10.4% year over year contributed to the […]