Thursday, 18 December 2014
Business | Radio Prague

With low oil prices and EU sanctions hitting the Russian economy hard, the country's currency the rouble tumbled to a record low against the U.S. dollar on Tuesday. Interventions by Moscow, including a steep hike in interest rates, have led to a slight recovery on Wednesday, though trading was still described as volatile. Given that some 4 percent of the Czech Republic's exports go to Russia, what impact could the rouble's problems have on the Czech economy?

Business | Radio Prague

The Kolín-based automobile manufacturer TPCA will lay-off some 500 agency-hired staff. The reason for the reduction, are fewer models to be produced in 2015 than originally projected: some 220,000 vehicles. Layoffs should not affect regular employees.

Business | Radio Prague

The firm Uniles, part of the Agrofert Group owned exclusively by Finance Minister and ANO party leader Andrej Babiš, has won eight logging and sales contracts from the state-owned forestry firm Lesy ČR.

Finance | Radio Prague

The Czech Republic's public debt should this year reach CZK 1.663 trillion, some 20 billion less than in the previous year, Finance Minister Andre Babiš said. If Mr Babiš's estimate proves correct, the public debt would decrease for the first time since 1995.

Business | Reuters

Shareholders in O2 Czech Republic on Wednesday approved extending a loan of up to CZK 24.8 billion to the telecom company's majority owner PPF, the investment group of the wealthiest Czech, Petr Kellner.

Business | The Prague Post

Škoda produced the 500,000th third-generation Octavia on Dec.15. The anniversary vehicle – an Octavia GreenLine in white – rolled off the Škoda production line in Mladá Boleslav.

Business | Reuters

China is ready to help the Czech Republic to develop its nuclear industry and expand its power stations, Chinese Premier Li Keqiang was quoted as saying in a newspaper on Wednesday.

Finance | Radio Prague

The Czech National Bank on Wednesday announced it would keep its interest rates unchanged at 0.05 percent, and would continue intervening against the Czech crown to keep the exchange rate at around 27 crowns per euro.

Business | Radio Prague

The Czech National Bank has fined ČSOB bank for refusing to accept or exchange damaged notes, iDnes.cz reported. The CZK 300,000 fine comes three years after the central bank ordered ČSOB to take in damaged notes following complaints from customers of Česká pošta post offices, which with ČSOB cooperates.

Business | Radio Prague

Nearly 50 percent of Czech companies are planning to raise their employees' wages next year, according to a survey conducted by the Czech Chamber of Commerce in around 500 firms all around the country. Only five percent of the companies that took part in the poll will be lowering their employee's salaries next year. The companies are increasing wages mainly thanks to increasing profits and overall economic growth. The Czech Finance Ministry estimates this year's GDP growth at around 2.4 percent.

Business | RTT News

Czech producer prices declined at a faster-than-expected pace in November, figures from the Czech Statistical Office revealed Tuesday.

Business | Radio Prague

Multifaceted relations between the two states could lead Chinese businesses to see the Czech Republic as a gateway to the European Union, the Czech prime minister, Bohuslav Sobotka, said in Belgrade on Tuesday after a meeting with his Chinese counterpart, Li Kequiang.

Finance | dunyanews.tv/AFP

A fragile recovery in the eurozone and fiscal uncertainty at home means EU member Czech Republic should hold off setting a date for joining the euro, the central bank and finance ministry said Monday. "The Czech Republic's readiness to join the euro has improved over past years," the central bank ČNB and finance ministry said in a joint statement. But the country of 10.5 million people must "boost the sustainability of its public finances in relation to an ageing population and increase labour market flexibility" before fixing an entry date.

Business | Radio Prague

Sales of the freshwater fish carp, which is eaten by most Czechs for Christmas dinner on the evening of December 24, are due to begin later this week.

Business | The Prague Post

The new Škoda Superb has been completely redeveloped and has recently completed the final test series in Southern Europe, among other regions. The new Škoda Superb will have its world premiere in mid-February 2015 in Prague.