Friday, 27 March 2020
Business | Radio Prague

ING's latest economic and financial analysis on the economic costs of Covid-19 predicts the Czech Republic will show negative GDP for full-year 2020. The volatility of the Czech crown will remain "extra elevated", it says, given the positioning-related moves in the currency and the risk of central bank interventions.

Business | Expats.cz

The Czech Post Office remains open but has limited its service and operating hours. The one piece of good news is that they will deliver face masks for free, but only under certain conditions. China is among the countries that the Post Office expects to have interrupted service with.

Business | Expats.cz

Some Czech companies are getting creative to find ways to offset the current shortage of hand sanitizer and disinfectant. Seeing as alcohol is one of the main ingredients for most disinfectants, it's a perfect match for some of the Czech Republic's more traditional brands.

National | Business | Romea

For a moment it appeared to be the case that the shock from the scale and speed of the preventive measures adopted by the Czech Government against the dissemination of the novel coronavirus were attenuating the customary populist, superficial ejaculations online featuring key words such as "Brussels", "nation" or "sovereignty". A couple of days later, however, the old rhetoric is back.

Business | Reuters

Hyundai Motor's Czech plant will suspend production from March 23 to April 3 due to the coronavirus outbreak, a company spokesman said on Thursday.

Business | Reuters

A coronavirus crisis lasting three months would cause a 5-8% drop in Czech economic output and lead to 400,000-450,000 job losses, Josef Stredula, chief of the country's main union group CMKOS, said on Thursday.

Business | Automotive World

Due to the coronavirus pandemic and in consultation with Volkswagen Group and the KOVO union, Škoda Auto suspended production at its Czech plants in Mladá Boleslav, Kvasiny and Vrchlabí on Wednesday night, for an initial period of minimum two weeks.

Business | Radio Prague

The government's recent measures to prevent the spread of the novel coronavirus have impacted around 20 percent of businesses in the country, a lightning survey conducted by the Czech Chamber of Commerce (HK ČR) has found. Most expect sales revenues to drop by 40 to 60 percent. Those hardest hit are the self-employed and small businesses.

National | Business | Romea

According to the director of the Agency for Social Inclusion, David Beňák, it is possible to anticipate that the residents of socially excluded localities will experience a loss of income that can, in extreme cases, cause them to lose their housing or be unable to fulfill the conditions of paying down their debts.

National | Business | Radio Prague

Local authorities and community aid groups have come together to help the most vulnerable in society to survive the coronavirus epidemic. The government has emphatically urged people over 70 to remain in self-imposed isolation in their homes and town halls and volunteers are now scrambling to help meet their needs.

National | Business | Romea

The Academic Center of Student Activities, based in Brno, Czech Republic, has launched a portal, chcipomoct.cz ("I Want To Help") where both individuals and organizations who need aid as a consequence of the COVID-19 pandemic and volunteers offering their assistance can sign up. The portal should serve the purpose of easily categorizing and distributing volunteer help, the director of the center, Jaroslav Švec, told the Czech News Agency.

Business | Radio Prague

The Czech government and central bank have announced further measures to offset the impact of the coronavirus on large firms, small businesses and households. While economic growth is certain to drop steeply in the near term, the authorities and experts note this country is better prepared than most to weather the storm. Jan Bureš, chief economist for Patria Finance, argues that the government stimulus package is too small.

Business | Prague Daily Monitor

All three of the Czech passenger train services announced reduced domestic train service due to the drastic fall in passengers complying with the quarantine lock-down rules. The domestic reductions are on top of the international routes which were all cancelled last week.

Business | Expats.cz

Face masks are generally worn not to protect the wearer, but to protect their surroundings from the spread of pathogens. But Brno-based company Respilon has developed a revolutionary facemask that actively works to capture and kill viruses.

Prague | Business | Expats.cz

Following the declaration of a state of emergency, the Prague Public Transit Company (DPP) is taking more steps. Buses in Prague will stop at all stops, bus service at night is reduced, mouth coverings are required, recirculating air conditioning is turned off.