Wednesday, 11 December 2019

Bloomberg

Czech rate-hike drive may be over for a year, rate setter says

Bloomberg |
11 December 2019

Czech interest rates could stay where they are for another year as global risks cloud the outlook for the export-oriented economy, a senior central banker said. Unlike monetary easing deployed by the U.S. Federal Reserve and the European Central Bank, Czech policy makers are among the few in Europe discussing whether or not to raise borrowing costs.

EU finds Czech leader has business conflict, Respekt reports

Bloomberg |
2 December 2019

A European Commission audit found the billionaire Czech prime minister has a conflict of interest over alleged ties to his business empire, weekly Respekt reported, citing people with knowledge of the matter whom it didn't identify.

China boosts efforts to recruit spies in EU's Czech Republic

Bloomberg |
27 November 2019

The Czech Republic's top intelligence agency warned that China increased its efforts to recruit agents and destabilize state institutions last year as it and Russia continued to threaten the nation's security.

Rothschild aided Czech billionaire in 'fraud,' hedge fund claims

Bloomberg |
26 November 2019

Financial advisor Rothschild & Co. was sued in the U.S. for allegedly helping the Czech property billionaire Radovan Vitek secretly acquire controlling shares in a real-estate development company in what a New York hedge funds says amounted to a USD 1 billion fraud.

Czech tycoon's company cancels USD 1.5 billion Hong Kong IPO

Bloomberg |
22 November 2019

Home Credit NV, the consumer lender owned by Czech billionaire Petr Kellner, scrapped a USD 1.5 billion share offering in Hong Kong, where authorities are keen to demonstrate that months of street protests haven't disrupted business.

Czechs hold rates as euro-zone slowdown eclipses inflation

Bloomberg |
8 November 2019

The Czech central bank, one of Europe's last still pondering monetary tightening, left interest rates unchanged for now as risks stemming from the weakness of the euro-area economy overshadowed higher inflation.

Czech Republic to impose lodging tax aimed at sharing economy

Bloomberg |
24 October 2019

The Czech Republic will impose a uniform local accommodation tax from 2020 to improve taxation of the sharing economy. The levy will amount to a maximum of CZK 21 per person per night, as of Jan. 1, 2020, and CZK 50 as of 2021, under a bill signed into law Oct. 23 by Czech President Milos Zeman.

German gloom weakens rate-hike case for surprise Czech hawk Mora

Bloomberg |
24 October 2019

One of two central bankers who voted to raise interest rates in the Czech Republic just last month signaled he may be ready to change his mind. The koruna weakened against the euro.

Czechs plan USD 5 bn spending boost as slowdown risks loom

Bloomberg |
17 September 2019

The Czech government will join its peers across emerging Europe in putting more money in the hands of the poor and elderly while also trying to preserve one of the continent's lowest levels of debt. Prime Minister Andrej Babis's cabinet approved a 2020 budget draft Monday that raises spending on pensions, public salaries, roads and railways. While he's counting on the economic expansion to continue bolstering state coffers, critics say the risk of a global slowdown may imperil his projections.

Czech billionaire's property firm seeks end to fund's suit

Bloomberg |
12 September 2019

Czech property billionaire Radovan Vítek's company said the New York hedge fund accusing him of a USD 1 billion fraud is wrongfully attempting to apply U.S. racketeering law to businesses that operate overseas. Vítek's CPI Property Group, the largest commercial property landlord in Berlin, said Tuesday in a New York court filing that a lawsuit by Kingstown Capital Management should be tossed out because it was filed too late and overlaps with claims already made in a case pending in Luxembourg since 2015.

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