Czech Republic

CEZ achieves record net income of CZK80.7bn in 2022

Robert Anderson in Prague March 22, 2023

Czech power group, which is 70% state-owned, said it could issue a record dividend of up to CZK117 a share.

NEMETHY: The Fed will prioritise financial stability over the fight against inflation

Les Nemethy CEO and founder of Euro-Phoenix Financial Advisors March 21, 2023

For the past six months, the US Fed has been fighting inflation by jacking up interest rates and tightening money supply to fight inflation. This author, and others, predicted that “something will break”. Something did break: SVB

All to play for in Russian-Chinese backyard

bne IntelIiNews March 21, 2023

Russia and China will struggle for common policy on possible Russian soft underbelly Central Asia, Afghanistan, Mongolia, the vital Europe/Asia Caucasus crossroads, the Baltics, CEE and SEE.

Czech Institute of Totalitarian Regimes embroiled in controversy again

Albin Sybera March 17, 2023

Director fires entire editorial board of its journal Pamet a dejiny (Memory and History) and the head of the education department without giving reasons.

Czech President Milos Zeman: a populist tragedy of our times

Robert Anderson in Prague March 9, 2023

The Kremlin-backing head of state, who left office this week, is widely seen as without question the worst Czech president since the restoration of democracy in 1989.

Volkswagen reported to be shelving plans for Central European gigafactory

Albin Sybera March 9, 2023

Czech authorities and VW's Skoda Auto insist the carmaker’s plans for a massive electric battery plant in Central Europe are merely postponed, and that VW is awaiting a EU decision on a new EU incentive framework.

COMMENT: Czech growth to disappoint as eurozone recession hits

Nicholas Farr at Capital Economics March 8, 2023

Capital Economics thinks that Czech GDP may fall slightly further over the first half of this year and expects only a slow recovery in the second half.

Incoming Czech President Petr Pavel marks clean break from Zeman's 10-year rule

Albin Sybera, Robert Anderson March 8, 2023

Pavel’s record election victory has widely been seen as a blow to the powerful populist trend in Central Europe, epitomised in the Czech Republic by Zeman and his ally, opposition leader Andrej Babis.

Gender gap persists in Emerging Europe’s industries of the future

Clare Nuttall in Glasgow March 8, 2023

Women are underrepresented in the growing ICT and green energy sectors.

bneGREEN: Rise in global CO2 emissions mostly offset by clean energy growth

by Roberta Harrington in Los Angeles March 7, 2023

According to the latest report from the International Energy Agency, CO2 Emissions in 2022, global energy-related carbon dioxide emissions rose by less than 1% in 2022.

Ukrainian refugees and Russian migrants bring economic benefits but also stresses to Emerging Europe

bne IntelliNews March 3, 2023

Looking forward to the end of the war, whenever it happens, policymakers are already speculating on how many of the refugees and migrants are likely to stay and how many will return.

Czech justice minister under pressure to resign over interventions in Brno graft probes

Albin Sybera March 2, 2023

Pavel Blazek has made nine requests to obtain information from prosecutors relating to the city council corruption scandal in which he and ex-colleagues have been questioned by police.

Czech opposition filibusters bill suspending pension indexation

Albin Sybera March 1, 2023

Populist parties accuse the centre-right government of trying to balance the budget on the backs of the poorest.

Stable outlooks at lowest level for two decades in Emerging Europe, says Fitch Ratings

bne IntelliNews February 27, 2023

One year since the Ukraine conflict began, the share of stable sovereign outlooks in Emerging Europe is at its lowest since late 2003.

Urals oil price is increasingly meaningless, allowing Russian-owned refineries in Europe to build up slush funds

Ben Aris in Berlin February 27, 2023

After the twin price cap sanctions were imposed on Russian oil exports, Ukraine’s supporters cheered as the price of the key Urals blend collapsed. The trouble is, Russian refineries in Europe make the price of Urals increasingly irrelevant.

How big is Russia's "ghost fleet" of oil tankers?

Ben Aris in Berlin February 26, 2023

How many ships are in Russia’s “ghost fleet” of tankers? No one has a clear idea: estimates run from 100 to 600 tankers depending on what you include in the fleet.

bneGREEN: Wind, solar slash gas costs in EU by $12.7bn since Russia invaded Ukraine

by Roberta Harrington in London February 26, 2023

The growth of wind and solar power has helped to cut natural gas costs by €12bn ($12.7bn) in the EU since Russia invaded Ukraine just over a year ago.

Germany to crack down on sanctions dodgers as non-EU trade turnovers with Russia soar

Ben Aris in Berlin February 24, 2023

Germany's Deputy Chancellor, Robert Habeck, announced that Berlin will crack down on EU companies that dodge Western sanctions on Russia, as governments become increasingly alarmed at the scale of the sanctions leakage, the Financial Times reported.

ING: Green sovereign bond sales stabilise and so does the greenium.

Antoine Bouvet is a Senior Rates Strategist at ING, Benjamin Schroeder is a Senior Rates Strategist at ING February 24, 2023

The euro sovereign and supranational, sub-sovereign and agency (SSA) green bond market is maturing after a turbulent 2022. Supply levels have stabilised and there are signs that it is finally matching demand.

European gas prices slump to 18-month low

bne IntelliNews February 23, 2023

The front-month contract at Europe’s premier TTF gas hub dipped below €50 per MWh ($567 per 1,000 cubic metres) on February 21 for the first time this year, amid easing fears of shortages, warm weather, ample LNG and lower industrial demand.