Friday, 4 December 2020
Business | Prague Daily Monitor

On Thursday, restaurants, cafes, shops and other services reopened as Czechia entered the third level of PES. While there are already thousands of reservations to restaurants for the upcoming days, businesses shared how they will be dealing with a flood of customers. Currently, the most populated areas are hairdressing salons where people queue long before the opening hours. They are followed by beauty salons and stores with Christmas decorations.

Business | Real Estate | Radio Prague

While other areas of the economy are struggling, the Czech real estate market is continuing to grow, Hospodářské noviny reported on Thursday. Property prices are likewise on the up, the business daily said.

Business | Prague Daily Monitor

For over 17 years, fugitive oligarch Viktor Kožený has been evading Czech and American authorities in the Bahamas for allegedly defrauding investors of billions of crowns. A long and fruitless trial has been waging in Prague's District 2 court to attempt to compensate the victims. On November 15, the courts revealed that out of the CZK 20 billion lost to Kožený, only CZK 100 million was found, and they wouldn't even be able to give it to the victims.

Business | Real Estate | Bloomberg Tax

Czech Prime Minister Andrej Babis's plan to lower income taxes risks boosting the prices of homes and other assets, without bringing major benefits for economic recovery from the coronavirus-fueled recession, the country's budget watchdog said.

Business | Prague Daily Monitor

While thousands of independent businesses in Prague allowed themselves to be crushed by the Covid-19 restrictions, Daruma Coffee & Tea on Dittrichova street has never closed, never enforced masks, and continued on as normal the entire time. The owner says that shutting down businesses has neither hygienic logic nor legal justification, citing his protected rights on the Czech Constitution and the Charter of Fundamental Rights and Freedoms.

Business | Radio Prague

Minister of Finance Alena Schillerová plans to propose a reduction in value added tax (VAT) on period products, such as tampons and sanitary pads, to 10 percent from the current 21 percent. The news comes a week after Scotland became the first country in the world to make such products free and readily available for all.

Business | Reuters

Czech manufacturing business sentiment beat expectations in November, reaching its highest point since August 2018, the Markit Purchasing Managers' Index (PMI) showed on Tuesday. The headline PMI reading rose for the seventh consecutive month to 53.9 in November from 51.9 in October, moving further away from April’s low, data compiled by IHS Markit showed.

Finance | Prague Daily Monitor

Social Democrats stated that the new tax cut – the abolition of the super-gross wage – will not benefit any citizen in the Czech Republic. The new proposal, which was agreed on by the Chamber of Deputies, cuts the tax rate from 20% to 15% for low and medium-income groups. For high income groups, the tax will increase to 23%. According to the opposition, the problem is that the government does not have substantial resources to cover for the holes in the budget.

Finance | Radio Prague

Czech consumers will pay more or less the same for electricity and gas in 2021 as they have this year. The country's Energy Regulatory Office on Monday announced a 1.7 percent drop in the regulated price of electricity for households and 1.6 percent fall in the regulated component of natural gas prices.

Business | The Jerusalem Post

The widespread response to the COVID-19 pandemic by academia, private enterprise, and state agencies confirmed that the Czech Republic is very innovative and has great potential in this field. Currently, the Czech Republic ranks 24th on the Global Innovation Index (GII).

Business | Prague Daily Monitor

Most likely you have heard someone use the term "Near Field Communication", or "NFC" in short, already. Very probably the mobile phone you are reading this article on has an NFC chip inside. NFC is an increasingly useful feature on mobile phones﹣a connectivity enabler.

Finance | Prague Daily Monitor

The Czech koruna is rallying against the euro at a rate not seen since June 2008, just in the nick of time for Christmas. From the start of November, the Czech Republic's currency went from 27.18 to 26.16 CZK per euro, or a gain of about 4%.

Business | Prague Leadership Institute

"The true meaning of life is to plant trees under whose shade you never expect to sit." Being from the farm country and having lived around beautiful trees much of my life, makes the imagery of this quote so powerful to me. Put into the context of daily life, it really speaks to acts of kindness with expectations in return.

Business | Reuters

The Czech banking sector remains resilient to adverse effects of the coronavirus crisis but banks face a rise in non-performing loans next year and risks from an overpriced property sector, the Czech National Bank said on Thursday.

Business | Nasdaq/Reuters

The Czech competition watchdog UOHS approved the sale of CEZ's Pocerady coal-fired power plant to Sev.en Energy Group subsidiary Vrsanska Uhelna, the Czech Office for Protection of Competition said on Thursday.