Czech Republic

Czech GDP fell 0.6% y/y in Q2, according to refined estimate

Albin Sybera October 3, 2023

New y/y reading is 0.2 percentage points worse than previous one, while q/q reading is 0.1 pp worse at zero.

Microsoft mulling advanced nuclear strategy

by Roberta Harrington in Los Angeles September 27, 2023

Tech giant Microsoft is getting more heavily into small-scale advanced nuclear power for its data centres.

Eastern EU members building roads instead of railways

bne IntelliNews September 23, 2023

Across the EU far more has been invested in roads than railways over the last three decades, but this trend is even stronger in the newer EU members, a study commissioned by Greenpeace finds.

Poland bans import of Ukrainian grain after EU-wide embargo expires

Wojciech Kosc in Warsaw September 18, 2023

Ukraine has vowed to pursue legal action at the World Trade Organisation if any EU member states institute their own embargoes.

Sending Soviet tanks into Hungary and Czechoslovakia was a mistake, says Putin

Tamas Csonka in Budapest September 13, 2023

"It is not right to do anything in foreign policy that harms the interests of other peoples," says Russian dictator who has fought a vicious war against Ukraine that is already being investigated for war crimes.

Czech companies urge PM to ensure equal rights to LGBT+ people

Albin Sybera September 13, 2023

Marriage for all legislation made it to the second reading in the parliament in June for the first time in Czechia’s history.

Czech inflation slows to 8.5% in August

Albin Sybera September 11, 2023

August y-o-y inflation is 0.3 percentage points down on July, when inflation eased to 8.8% from 9.7% in June.

Czech oil imports from Russia rose to a decade high in 1H23

Albin Sybera September 11, 2023

Share of Russian crude oil imports into Czechia is the highest since 2012 at 65%.

Skoda Auto halts production at Czech site after floods in Slovenia

Albin Sybera in Ljubljana September 11, 2023

Flood damages to KLS Ljubno in Slovenia have already led to the halting of production at Volkswagen’s plant in Portugal.

Unemployment in Czechia inched up in August to 3.6%

Albin Sybera September 11, 2023

Jobless numbers rise 0.1 percentage points on July and by 0.2pp year-on-year.

Only 11 countries are reducing emissions and all will miss Paris targets - Lancet

bne IntelliNews September 8, 2023

Green growth is not yet happening in any advanced economies – and high-income countries are not on track achieve enough emissions reduction without more far profound changes in consumption.

Ukrainian refugees become populist targets in Czechia

Albin Sybera September 6, 2023

Even though two thirds of refugees live below the poverty line and their financial support has just been cut, populists are whipping up tensions, particularly with the country's Roma minority.

Czech parliament passes first reading of bill to tax multinational companies' revenue

Albin Sybera August 31, 2023

Under the new legislation, large multinationals would pay a minimum tax based on the revenue of their businesses in the country.

Three bidders shortlisted for Czech parcels delivery company Packeta

Albin Sybera August 30, 2023

Private equity firm Advent International, Czech financial group PPF, and Czech energy tycoon Daniel Kretinsky remain among the bidders.

Slovak refinery Slovnaft wants prolongation of exemption from Russian oil embargo

Albin Sybera August 30, 2023

The exemption for Slovnaft is in place until December due to Slovakia’s and Hungary’s high dependency on Russian crude.

Czech coalition drifts towards defeat

Robert Anderson, Albin Sybera August 23, 2023

The government is one of the most unpopular ever and it appears to be only talking to its own supporters.

Pressure mounts on scandal-ridden Czech justice minister after meeting with alleged Kremlin lobbyist

Albin Sybera August 23, 2023

Pavel Blazek spent an evening at a Prague restaurant with Martin Nejedly, a former presidential aide who is being investigated by the police.

Czechia adds three more Russians to national sanctions list

Albin Sybera August 17, 2023

Weapons oligarch Boris Obnosov sanctioned after outcry over his family's luxurious lifestyle in Prague.

Czech pubs struggle to get back on their feet after pandemic

Lyle Frink in Prague August 17, 2023

Tourists are back in Prague but VAT rises and the cost of living crisis are hurting country pubs.

CEZ income surge constrained by special taxes and levies

bne IntelliNews August 11, 2023

Czech power group confirmed its forecast for the full year earnings to drop by at least half y/y because of the levy and windfall tax.