Wednesday, 3 June 2020
Business | Radio Prague
State to waive small firms' social security contributions in summer

The Czech state looks set to waive social security contributions from companies with 50 or fewer employees between June and August – on condition that they don't let more than 10 percent of staff go, or cut wages by 10 percent or more of March levels. The measure has been approved by the Chamber of Deputies and must now go to the Senate.
Finance | Radio Prague
Compensation claims over anti-coronavirus measures rise, along with frustration

Claims for damages due to anti-coronavirus measures are beginning to pile up at government ministries. Nearly two dozen entities are demanding a total of 188 million crowns in compensation from the Interior Ministry alone. Hundreds more a reportedly seeking to file joint actions.
Business | Expats.cz
Prague wine bar encourages tipping policy; urges Czechs to be better tippers

The #milujemevino initiative, started by the small group of wine bars, opens up conversation about Czech tipping and taxation across the country, following months of restaurant closures due to coronavirus.
Business | Romea
Interior Ministry and Prague City Hall stop leasing properties to publisher who released Nazi calendar

Speaking after a meeting Tuesday with the Ambassador of Israel to the Czech Republic, Czech Foreign Minister Tomáš Petříček said the Czech Interior Ministry has withdrawn from a contract to lease warehouse space to the Naše vojsko ("Our Troops") publishing house because it has released a calendar with portraits of figures from the Nazi Third Reich. The Foreign Minister added that goods of this sort have no business being sold in the Czech Republic.
Business | Yahoo Finance/Reuters
Czech, Polish PMIs remain deep in red as factories wait on orders rebound

The manufacturing downturn in the Czech Republic and Poland remained deep in May, surveys showed on Monday, as factories face a long slog to recover after coming out of coronavirus lockdowns. Output slumped in central Europe after a virtual worldwide lockdown in March and April, and many plants were idled to combat the spread of the new coronavirus.
Business | Radio Prague
Debate over food self-sufficiency heats up in Czechia

Last week a proposal put together by some government and opposition members of the lower-house sparked a heated debate. It suggests imposing a new regulation that would oblige food retailers to ensure that 85 of all non-specialised products they sell are made in the Czech Republic. Politicians and farmers are divided in their opinion, with some seeing it as a welcome boost to Czech agriculture, while others fear it is a state intervention in the market.
Business | Prague Daily Monitor
Become Digital: 4 customer survey effective practices

Ladislav brings us part three of a four part series on customer survey effective practices from the digital world.
Business | Prague Leadership Institute
Pepper de Callier: Things to Think About

"There is a certain majesty in simplicity which is far above all the quaintness of wit." One of England's greatest poets and essayists, Alexander Pope's observations of the human condition are as relevant today as they were in the 18th century at the height of his work.
Business | Bloomberg
How a bet on China's consumers is backfiring for richest Czech

Petr Kellner's push into China was meant to turbo-charge one of eastern Europe's biggest fortunes. Instead, the Czech billionaire saw a listing of his consumer lender collapse, followed by a fight to contain the impact of the coronavirus pandemic. That has cost him USD 2.5 billion since January, with mounting questions about what's next for his Asian expansion.
Business | Reuters
Czech firearms maker CZG to list on Prague bourse, may offer shares later this year

Czech firearms maker Ceska zbrojovka Group SE will make a technical listing of its shares on the Prague Stock Exchange on Monday with the view to a potential public offering later, the company said on Sunday.
Business | European Jewish Press
Storm in Czech Republic over the publication and sale of calendar featuring leading Nazi figures

A storm has erupted in the Czech Republic over the publication and sale of a calendar of "Personalities of the Third Reich" featuring a dozen leading Nazis, including Hitler, Himmler, and Heydrich. The calendar is published by Naše Vojsko, which publishes materials "on military, historical and technical topics". It is listed for sale in its website for CZK 499.
Business | Radio Prague
Czech state to provide loan for nuclear unit due to launch in 2037

The Czech state will provide a loan to CEZ to build a new unit at the Dukovany nuclear power station, government leaders have announced. The state should contribute around 70 percent of the expected cost of the major, long-discussed project.
Finance | Expats.cz
Czech Republic to receive nearly EUR 20 billion under EU recovery plan

The Czech Republic is slated to receive a sum of 19.2 billion euros, or around 550 billion crowns, from an extraordinary relief fund currently being prepared by the European Commission to help EU member states recover from the coronavirus crisis, according to EC documents made public yesterday.
Business | Radio Prague
More contactless, less cash on delivery: crisis impacting Czech payment methods

Czechs' payments methods have been affected by the coronavirus crisis, with people increasingly preferring to use bank cards when making online purchases, rather than paying cash on delivery, according to a report released by the Czech Banking Association on Thursday.
Business | Bloomberg
The Prague angel offering salvation for Macy's and Foot Locker

Across the U.S., sales are cratering, bankruptcies are on the rise, and unemployment has hit unprecedented levels. Yet even as the coronavirus pandemic wreaks havoc on American malls and main streets, a billionaire from Prague sees something in the wreckage: bargains.