The Czech branch of the Chinese company Huawei is suspected of collecting sensitive data on officials and businessmen through its employees. This material is allegedly gathered during business meetings and subsequently entered into a central database to which the company’s headquarters in China have access. Czech Radio’s investigative team at Radiožurnál broke the story, citing […]
European Metals Holdings could begin operations at its Cinovec lithium project in the Czech Republic by mid-2022, and is holding preliminary discussions with potential customers, it said on Monday. Czech utility CEZ, in which the state holds a 70% share, last week said it had conditionally agreed to provide 2 million euros ($2.2 million) […]
Korean media reports that Hyundai plans to produce its fully electric Kona at its Czech plant from the first half of 2020. So far, the Kona Electric has been manufactured in South Korea and exported all over the world. Hyundai not only wants to produce hybrid versions of the Tucson in the Czech Republic, […]
Czech utility CEZ will provide a CZK 51 million convertible loan to European Metals Holding (EMH), the companies said on Tuesday, giving CEZ a potential majority stake in the company developing a large lithium deposit in the country. The loan will mature on Dec. 31, 2019 and carries a 7.5% interest rate. CEZ can […]
Liberty Ostrava, the largest integrated steel mill in the Czech Republic, has announced plans to temporarily cut steel production by 20 percent. The company said the move involved reducing the pace of production and would not affect its 6,000 employees. When Liberty Ostrava took over the steelworks from ArcelorMittal this year, its billionaire owner Sanjeev […]
On the rooftop terrace of the five-star Hotel U Prince, Pavel Baudis surveys the city he’s lived in for most of his 59 years. Over his shoulder is Prague’s tourist-heavy town square and the grand gothic spires of the Church of Our Lady before Týn; in front of him stand serried ranks of ochre rooftops […]
Biotech companies within the PPF Group, controlled by Czech billionaire Petr Kellner, are reporting advances in efforts to extend the lives of cancer patients. The companies Sotio and Cytune Pharma announced on Thursday that they had started the first trial dosing of cancer patients with SO-C101, a superagonist fusion protein of interleukin IL-15. The […]
After higher than expected inflation in May, which reached 2.9% year over year, price growth slowed to 2.7% in June due to slightly weaker growth in prices of alcoholic beverages, fuel and electricity for households. We expect average inflation to reach 2.6% this year. The month-on-month rise in prices was negligible in June, with May’s […]
Novares Group has officially inaugurated a new, 9,600 square metre second building at its site in Janovice, Czech Republic. Janovice supplies parts to Skoda and Faurecia and the extra building will produce components for PSA, as work is transferred from Zavar, Slovakia. The factory is part of Novares’ German OEMs & Tier 1 Business […]