Sunday, 14 February 2016
Finance | Radio Prague

Education minister Kateřina Valachová has backed a demand by teaching unions for a hike in wages of 10%. Valachová said the increase was large but legitimate given the level of teachers' pay and the difficulty in finding qualified and motivated staff.

Business | Real Estate | The Prague Post

The Corso Court office building opened Feb. 10 in Prague's Karlín business district. The new office center is LEED Platinum certified and fully rented.

Business | Daily Mail/Reuters

Czech labour unions will demand hike in public sector wages of more than 10 percent next year to reflect strong economic growth, union chief Josef Stredula was quoted as saying on Thursday. Czech wages have started to recover as the economy grew by estimated more than 4.5 percent last year, the labour market tightened and the public sector deficit dropped.

Business | Bloomberg

Komercni Banka, the Czech unit of France's Societe Generale, is benefiting from the central European country's booming economy, one of Europe's strongest capital buffers and an increased dividend payout target.

Business | CIA News

Komeční Banka (KB) Group reported net profits totalling CZK 12.8bn for 2015, down 1.5% y/y. Loan portfolio grew 6.8% to CZK 548.2bn. Deposits increased by 3.3% to CZK 656.7bn.

Business | CIA News

The Molákova Business Center in Prague-Karlín was sold to a Czech private investor in a tender procedure. This information was provided by Knight Frank, a company mediating the sale of the property.

Business | CIA News

The Ministry of Industry and Trade (MPO) has announced the second call of the Guarantee 2015 – 2023 programme for the provision of loan guarantees for small and mid-sized businesses.

Finance | The Prague Post

The Czech Chamber of Deputies approved the bill for electronic sales registration (EET). The controversial bill, which faced stiff opposition, still needs to be approved by the Senate and signed by the president. Czech President Miloš Zeman has previously said he supports the measure, and it is expected to pass the Senate. Opposition TOP 09 and Civic Democrats objected to the parliamentary process leading up to the vote, saying their rights had been denied.

Business | Radio Prague

Though the Czech state is not planning to bury spent nuclear fuel for another half-century, it is already looking ahead with the creation of an underground lab at Europe's last uranium mine to test conditions for a repository, the news website iDnes.cz reported on Wednesday.

Business | Radio Prague

The Czech Republic this week announced record export figures for the year 2015. Several factors were clearly at work including the low crown policy of the Czech National Bank. But the government would also like to take some of the credit, and especially the government agency for boosting Czech companies' export performance abroad, CzechTrade.

Business | Prague Connect

Heartbreaking images of a dead three year-old Syrian boy washed up on a Turkish beach have become a powerful symbol of what is being described as Europe's "migrant crisis." But poor little Aylan Kurdi could have been part of the solution to our continent's problems, had he been able to reach it. Surely the true crisis is that not enough Europeans, especially some of our politicians, understand this. It is a sustainability issue.

Business | CIA News

Car component producer BRANORUS, a member of the group Brano Group active on the Russian market, has opened a new factory covering 3,500 m2 in the city of Kstovo.

Business | CIA News

Car dealer Auto Palace raised its turnover from fleet sales by 43% to CZK 3.56bn in 2015. The most important contracts were entered into with top firms on the Czech market in insurance, energetics and retail sectors.

Business | CIA News

Medical regulatory fees cannot be exacted retrospectively on the basis of a provision of the public health insurance act that was previously cancelled by the Constitutional Court as anti-constitutional.

Business | Radio Prague

Czech exports reached a record CZK 3.9 trillion in 2015, an increase of 7.2% year on year. Although exports to Russia dropped by over 30% higher exports to the county's traditional EU partners made up for the difference. "Czech export was supported mainly by the good performance of Czech manufacturing, especially the car industry which is becoming more and more competitive in the European context," says chief economist of Era Poštovní Spořitelna, Jan Bureš.