Czech Republic
Europe in recession, no engines of growth
The latest GDP figures show that the eurozone contracted in the third quarter and looks like it will do the same in the last three months of the year, falling into a continent-wide recession.
Czech industry increased by 1.9% y/y in October
Czech industrial production increased by 1.9% year on year and by 2.8% month on month in October. The October increase follows a 5% slump registered in September, which alarmed local analysts.
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Drop in Czech retail sales slowed down to 1.4% in October
Czech retail sales decreased by 1.4% year on year and increased by 0.6% month on month in October, in the softest monthly drop in a year and a half. The drop in sales eased compared to the 4% y/y drop in September and the 2.8% y/y drop in August.
International banking groups mull expansion in CEE region
Half of the cross-border banking groups active in Central, Eastern and South-Eastern Europe say they want to “selectively expand” in the region, shows the latest EIB survey.
COP28: Greenpeace asks if nine European oil and gas majors are “getting away with murder”
Releases study showing 360,000 people could die prematurely before the end of the century because of global heating caused by companies’ 2022 greenhouse gas emissions alone.
CENUSA: The EU must not allow mistakes over Ukraine to compromise its expansion policy
European military-financial support for Ukraine's defence efforts and its political-strategic support for Ukraine's European accession are interdependent. They can have a positive influence on each other or can obstruct each other.
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Czech GDP dropped by 0.7% y/y and by 0.5% q/q in 3Q23
Czechia remains the only EU country not to have recovered its pre-pandemic level of output.
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Czech PMI stays low in November
Czech manufacturing PMI data from S&P Global market intelligence company posted 43.2 in November.
ING: Consumer not ready to change what they eat to help the environment
By wasting less food and eating less meat and dairy, consumers can help to slow down climate change. However, consumers in the EU have barely changed their diets.
Biggest Czech steel mill seeks protection from creditors
Liberty Ostrava's restructuring plans are reportedly backed by all its creditors. Company claims strategic investor ready to inject €200mn.
COP28: All the climate crisis warning lights flashing red – in charts and maps
The great and good have assembled in UAE’s capital of Dubai for the COP28 conference to hash out a plan to avert the looming environmental disaster, but its probably too late.
ING: What companies and investors should know about COP28
COP28 will focus on ramping up efforts and investment in climate mitigation, adaptation and loss and damage control. It's now crucial that companies invest in clean technologies, harness climate finance opportunities and contribute to systems change.
COMMENT: Falling EM inflation enters a second phase, but rate cuts will progress slowly in 2024
Inflation rates are coming down across the Emerging Markets and are now entering a second phase, Capital Economics said in a note on November 28. Central Banks are getting ready to cut interest rates but rate cuts will come slowly.
VISEGRAD BLOG: Europe's populist surge can still be contained
Hungarian premier Viktor Orban rejoices in 'winds of change' after victory of Geert Wilders’ radical right-wing Freedom Party in the Dutch general election.
Ukraine EU accession talks will be "difficult", European Council President Michel says
The President of the European Council, Charles Michel, predicts that the December summit on Ukraine's accession to the EU will be “difficult".
Muddy Waters note sends CPI stocks and bonds plummeting
Short-selling hedge fund accuses Czech property group of misstating value of assets.
Bulgaria had EU's biggest population slump in pandemic year 2021
EU regions with the steepest population loss were all in Bulgaria, led by Vidin with a loss of 25.7 per 1,000 people.
INTERVIEW: Green transition must be a just transition, says EBRD chief economist
EBRD research shows majority in transition countries believe climate change will severely affect the children of today, but fewer people are willing to pay to address the climate emergency.
PPF hunts for opportunities in Balkans as it retreats west
Czech financial group is in the process of selling or scaling down its once sizeable consumer credit operations in Russia, China and Southeast Asia.
INTERVIEW: Andrew Michta, director of the Scowcroft Strategy Initiative
“If we find ourselves in a situation where Ukraine is cut off financially and runs out of resources, if we force Ukraine into some sort of frozen conflict or armistice, that is a victory for Putin.”