Czech Republic

Warmer climate to have positive impact on Czech economy says Deloitte study

bne IntelliNews September 16, 2020

Agriculture to suffer but other sectors would benefit, as temperatures in Czechia are set to continue rising faster than the global average.

Czech Railways reported nearly CZK2bn loss due to coronavirus

bne IntelliNews September 14, 2020

Number of passengers dropped by 90% when travel restrictions were introduced but rail operator wasn't able to cut costs sufficiently, said Ceske Drahy chairman and CEO Vaclav Nebesky.

Weekend spike in COVID-19 cases in Czechia and Hungary

bne IntelliNews September 14, 2020

As second wave descends on Central Europe, debate rages in Prague over PM Andrej Babis’ handling of the pandemic, while Hungary's Viktor Orban insists containment measures won’t paralyse the economy.

Political rift causes Europe’s top acoustic piano producer to lose Chinese contract

bne IntelliNews September 8, 2020

Traditional Czech family business Petrof lost a contract to supply instruments worth €200,000 to China after Czech senate chair Milos Vystrcil's visit to Taiwan.

COMMENT: How Covid-19 is changing international business and politics

David Landsman OBE and Khawar Qureshi QC in London September 2, 2020

Ever since the plague in Athens in 430 BC described by Thucydides, epidemics have followed movements of people and changed the course of history. Today Covid-19 risks challenging the foundations of business in our modern interconnected world

Czech central bank governor at odds with Babis over government's tax proposals

bne IntelliNews August 31, 2020

Jiri Rusnok warned that proposals to abolish “super gross” wage would leave a long-lasting hole in state finances.

Bitcoin power consumption need not blow your brains—yet

bne IntelIiNews August 29, 2020

Russia, Kazakhstan and Iran make top 10 in electricity consumption index for digital currency mining industry.

Chinese owner of troubled Czech no-frills airline mulls exit as company seeks debt deferral

Tamas Szilagyi in Budapest August 27, 2020

Chinese state corporation CITIC is reportedly negotiating the sale of 49.9% stakes in Czech no-frills airline Smartwings, which also owns 98% of Czech Airlines.

Czech car production still reeling from crisis as output plunges 30% by end of July

bne IntelliNews August 24, 2020

Association of the Automotive Industry expects a 20% decline in output this year as carmakers are not likely to make up the decline in production caused by the spring stoppage in the autumn months.