Czech Republic

Gas prices fall further on record 64% full European gas tanks

bne IntelliNews February 23, 2023

Gas reserves in Europe's underground storage facilities (UGS) have dropped to 69bn cubic metres and are 63.7% full as of February 22, Gas Infrastructure Europe (GIE) reports.

More gloom ahead as EBRD cuts 2023 growth forecasts

bne IntelliNews February 16, 2023

The EBRD lowered its forecasts for more than half its 36 countries of operation, anticipating average growth of just 2.1% this year.

COMMENT: Recessions confirmed in Hungary and Czechia

bne IntelliNews February 15, 2023

Central and Eastern Europe has experienced a sharp downturn in GDP in the fourth quarter of 2022 figures, but while the worst of the economic decline has passed, the region is likely to stagnate this year.

Czech footballer's coming out praised as courageous statement in region still marred by anti-LGBTQ+ violence

Albin Sybera February 15, 2023

Czech international Jakub Jankto has become the highest-profile active footballer to come out as homosexual.

COMMENT: Union recognition can be a tough battle in EU member states in Central and Eastern Europe

Martin Myant of the European Trade Union Institute February 13, 2023

Multinationals typically try to find loopholes in employee rights for their operations in Eastern Europe, preventing wages converging with Western European levels.

UK and Eurozone inflation likely to remain high for several years due to the energy crisis

bne IntelliNews February 13, 2023

The surge in energy prices has significantly lifted headline inflation rates in the UK and Eurozone through the direct impact on household energy bills. However, there is a time lag to the feed through to consumer inflation.

OBITUARY: Lubomir Strougal, longest serving Czechoslovak prime minister

Albin Sybera in Prague February 10, 2023

Despite being seen as a reform-oriented communist late in his career, Strougal also personified the stiff reactionary regime that replaced the "socialism with a human face" of the Prague Spring after the 1968 Russian invasion.

IMF: Charting globalization’s turn to 'slowbalization' after world financial crisis

Jeff Kearns of the IMF February 9, 2023

The free flow of ideas, people, goods, services, and capital across national borders leads to greater economic integration. But globalization, the trend toward these things moving ever more freely between nations, has slowed in recent years.

CEE management schools shrug off threat of distance-learning programmes

Kester Eddy in Budapest February 9, 2023

The COVID-19 pandemic pushed CEE students towards Western online MBA courses, but they are now returning to face-to-face studies, say the region's business school heads.

Babis will remain a legislator in Czech parliament and his party’s leader

Albin Sybera in Prague February 9, 2023

Populist opposition leader ends speculation that he could step down after he lost the presidential runoff against former army chief of staff general Petr Pavel in January.

Europe’s gas tanks at record 69% full with just over one month of heating to go

bne IntelliNews February 9, 2023

Europe’s gas storage tanks are 68.8% full, a record high in the last decade, with a little more than one month left of the heating season.

Outgoing Czech president withdraws threat to pre-emptively appoint constitutional court chief

Albin Sybera February 8, 2023

Mooted move by Milos Zeman to appoint his own man to key post could have led to drawn-out constitutional dispute.

bneGREEN: CEE countries need to invest in more solar and wind to break their Russia energy dependence

bne IntelliNews February 7, 2023

The energy crisis in Central and Eastern Europe has lost some of its bite after a mild winter and record LNG imports led to a slump in natural gas prices. The EU has made good progress in replacing Russian energy supplies.

NEMETHY: How the Battle for Ukraine may change Europe

Les Nemethy CEO and founder of Euro-Phoenix Financial Advisors February 6, 2023

More and more signs point to a new major Russian initiative to take Ukraine in the spring, including a possible attack on Kyiv. How could a major Russian offensive or a Russian victory in Ukraine challenge Europe?

COMMENT: The new Cold War will be different, and not only because of China

Peter Szopo February 6, 2023

Mercantilism is also replacing globalisation, and the US has a declining interest in European affairs.

Prague to have a new municipal government after record-long negotiations

Albin Sybera February 6, 2023

A coalition of parties along the model of the Czech national government is poised to take power after more than four months of talks.

EU and G7 agree on Russian petroleum product price caps

bne IntelliNews February 5, 2023

The caps came into force on February 5, three months after a similar cap of $60 per barrel was introduced on Russian crude oil exports.

INTERVIEW: Helen Rodwell, head of CMS’ corporate practice in CEE

Robert Anderson in Prague February 4, 2023

Dealmaking in Central Europe is set to rebound, says law firm's long-standing Prague managing partner, as new kinds of investor move into the region.

RBI's 2022 profits soar to €3.6bn, with Russian operations representing more than half

bne IntelliNews February 1, 2023

The Austrian lender, which has become more and more reliant on its Russian business over the years, is still rethinking its presence in the country.

bneGREEN: Most growth in power generation by 2050 will be solar and wind – BP

by Roberta Harrington in London February 1, 2023

Most growth in global power generation by 2050 will be solar and wind, according to oil supermajor BP’s annual benchmark report, the 2023 Energy Outlook.