Czech Republic

Czechia moves closer to passing new public media legislation

Albin Sybera November 2, 2022

Government bill is designed to strengthen the independence of public media and prevent the kind of pressure on them from parliament-appointed boards that has been criticised by international journalist organisations.

Czech holiday weekend sees a clash of demonstrations over Ukraine

Albin Sybera in Prague November 1, 2022

Third pro-Russian demonstration smaller than the previous rallies and was followed by a slightly larger demonstration “against fear” and in support of Ukraine.

Andrej Babis to stand for Czech presidency

Albin Sybera October 31, 2022

Controversial populist billionaire and former premier had scattered hints in recent months that he would propose another member of his party to stand, as opinion polls showed that he would lose a run-off.

Stagflation looming as wage growth in CEE runs behind inflation

Ben Aris in Berlin October 28, 2022

Stagflation is looming as wage growth across Central and Eastern Europe (CEE) falls behind inflation, which could deepen the coming recession and impoverish millions of people.

bneGREEN: Carbon emissions to peak in “historic turning point” IEA says

Ben Aris in Berlin October 28, 2022

Global carbon emissions will peak in 2025 as the world reaches a “historic turning point” and governments pour investment into renewables to counteract the energy crisis that has gripped the world this year.

bneGREEN: Flattening the emissions curve: too slow, too late, say UN climate scientists

Richard Lockhart in Edinburgh October 27, 2022

The combined climate pledges of 193 governments would limit global warming to 2.5°C by 2100, way above the Paris Agreement goals of 1.5°C.

Cost of living crisis wiping out online retailers’ pandemic gains

bne IntelliNews October 26, 2022

Online retailers in Central and Southeast Europe are reporting declines in profits or warning that tougher times are coming.

EU gas prices tumble in lull before the storm

Ben Aris in Berlin October 25, 2022

Gas prices have been falling fast in the last few weeks as EU storage tanks are nearly full.

IMF increases global inflation outlook in 2022 to 9.9%

bne IntelliNews October 24, 2022

The International Monetary Fund has said that it expects inflation pressures to be significant around the world in 2022. Inflation is predicted to be worse in developing economies, where price increases are projected to reach 9.9% on average.

Emerging Europe is growing faster than expected this year but will stagnate in 2023, says wiiw

Robert Anderson in Prague October 20, 2022

For 2023 the wiiw has revised its forecasts down, and overall Emerging Europe growth will average just 0.3%, barely above the 0.2% predicted for the Eurozone.

bneGREEN Siemens Gamesa calls for quotas on EU-made wind turbines

by Roberta Harrington in London October 19, 2022

Siemens Gamesa, the leading wind-turbine manufacturer, has called for a quota system on the amount of EU-produced turbines installed in the trade bloc, reports the Financial Times.

bneGREEN: “Overriding public interest” essential to renewables in the EU: WindEurope

by Roberta Harrington in London October 19, 2022

The EU wants a massive expansion in renewable energy. It wants wind energy to grow from 190 GW today to 510 GW by 2030. But Europe is not building enough wind farms to reach this target, says WindEurope.

Nominee for Czech environment minister caught up in police raid

Albin Sybera October 19, 2022

Unfolding corruption scandal in Brno claims one nominated minister and may threaten justice minister.

Most of Europe still dependent on oil and gas for fuel

bne IntelliNews October 18, 2022

Europe is hoping to wean itself off Russian gas and turn to renewables but only a few countries rely on hydropower for the majority of their energy needs, while most of the rest of Europe relies on oil and gas.

bneGREEN: Clearer ESG rules needed in booming green bond market

Richard Lockhart in Edinburgh October 13, 2022

The global green bond market was worth $552bn in 2021, accounting for 53% of all green, social and sustainability issuances, according to a recent report from Fitch.

European car production could fall 40% due to energy crisis

bne IntelliNews October 13, 2022

European car production could fall by as much as 40%, or more than 1mn vehicles, per quarter out to the end of 2023 as a result of the energy crisis, S&P Global Mobility said in a report entitled “winter is coming” released on October 11.

bneGREEN: Green investment must triple to save climate

by Roberta Harrington in London October 12, 2022

Investments in renewable energy need to triple by 2050 to put the world on a net-zero trajectory by mid-century, according to a new report by the World Meteorological Organisation (WMO), part of the United Nations.

Czech President Milos Zeman can't resist a strongman

Albin Sybera October 12, 2022

The provocative populist Czech leader has barely travelled west during his 10 years in office, instead specialising in courting eastern dictators and neighbouring populist leaders.

IMF BLOG: Policymakers need steady hand as storm clouds gather over global economy

Pierre-Olivier Gourinchas Economic Counsellor and the Director of Research of the IMF. October 11, 2022

One-third of the world economy will likely contract this year or next amid shrinking real incomes and rising prices. The global economy continues to face the challenges of war, a cost-of-living crisis and an energy crisis.

CEE faces 'huge correction' in bond yields, says Erste

Robert Anderson in Prague October 10, 2022

The end of the monetary tightening cycle amid the tougher international environment will mean a correction of 200 basis points in 10-year yields in Hungary, and from 80-140 bps in Czechia, Poland and Romania.