Wednesday, 22 January 2020
Business | EU Today

The EPP Group plans to initiate a new anti-oligarch law to assure a fairer distribution of EU money, and criticises the double role of Czech PM Andrej Babiš who negotiates the multiannual EU budget on behalf of his country and at the same time, is one of the biggest beneficiaries of EU funds in the Czech Republic. "It is time to define clear guidelines on how to deal with conflicts of interest of high profile politician", said MEP Monika Hohlmeier.

Business | Radio Prague

A planned online system to sell permits to use the Czech Republic's motorways will cost around CZK 401 million, not including value-added tax, over a four-year period, the Czech News Agency reported.

Business | Radio Prague

Foreign Minister Tomáš Petříček completeed his three-day official visit to India on Wednesday, during which he and his delegation primarily sought to strengthen mutual ties. Martin Hříbek from Charles University's Institute of South and Central Asia points out that while bilateral ties go a long way back, in many areas relations had to be rebuilt from scratch after 1989.

Finance | Nasdaq/Reuters

The Czech crown rose to a seven-year against the euro on Wednesday, extending a 2020 rally as improved sentiment and stronger-than-expected inflation data that raised expectations of a possible rate hike boosted markets.

National | Business | Romea

Czech President Miloš Zeman will nominate the 81-year-old former MP for the Czech Social Democratic Party (ČSSD) and former Deputy Public Defender of Rights Stanislav Křeček as a candidate for the post of the next Public Defender of Rights.

Business | Prague Daily Monitor

Czech farmers are ending production of black, red and white currants. The berries are most often used in processing of food products, like jams, but producer and consumer demand remain low. Farmers say that prices do not make it worthwhile to plant, maintain and harvest the bushes.

Business | Radio Prague

The e-shop Košík.cz and Mattoni have started testing a deposit system on PET bottles, available on the online sales platform. Customers will be able to choose whether to order Mattoni bottled water in a classic PET bottle or in a returnable. The PET bottles returned will be recycled and put to use many times over.

Business | Bloomberg

A startup with an AI-platform that controls the flow of beer from the keg to the tap -- and set the amount of foam -- plans to expand into the U.K. and Czech Republic. Pubinno, founded in Istanbul in 2015 before relocating to San Francisco, expects its valuation to increase to USD 30 million after its latest investment round, from USD 20 million previously, said Can Algul, a co-founder of the company.

Prague | Business | Expats.cz

Shared electric scooters will be facing more restrictions. They have proved to be increasingly unpopular with both Prague City Hall and district administrations, and Prague 1 now joins in by banning the scooters from pedestrian zones. The district claims there has been a lack of cooperation with scooter operator Lime.

Business | Brno Daily

The Ministry of Transport approved the Railway Administration to carry out a feasibility study on the proposed new high-speed connection. The proposed connection will potentially reduce train journeys between Prague and Brno from 2.5 hours to just 65 minutes, at an average speed of 220 km/h.

Finance | Nasdaq/Reuters

The Czech crown gained past a key level against the euro on Tuesday to touch a 23-month high as markets priced in rising chances of an interest rate increase this year. Prague stocks also traded at their highest in nearly two years.

Business | The Drum

César&Charles, the new Czech clothing line, has recently launched thanks to a campaign created by Isobar Czech Republic, the brand's strategic business partner.

Business | Prague Daily Monitor

Inflation averaged 2.8% in 2019, one of the largest gains in eleven years. Price increases were larger only in the year 2012 at 3.3%. That was the average. Services grew on average 3.7% in 2019. The sector seeing the largest increase was housing, which varies greatly by geography. Food and beverages also saw large pricing increases. With sin tax increases taking into effect for alcohol and cigarettes, the new year will start off with price jumps.

Business | Radio Prague

Almost every fifth domestic company faced a cyberattack last year, a rise of 20 percent year on year, according to data released by the Czech Statistical Office (ČSÚ). The most common form of cyberattack was a distributed denial-of-service (DDoS).

Business | Prague Daily Monitor

The government planned on launching the super-fast 5G network auction in January and although it will not be in January, the government still sees it finding a winner in the first quarter. The information came from government materials approved on Monday.