Thursday, 13 August 2020


Nečas says spending cuts may lower 2011 economic output

Bloomberg |
23 August 2010

Prime Minister Petr Nečas said a reduction in spending in the 2011 state budget may lower economic output by as much as 0.7 percentage points from the government's current forecast. The cuts are needed to keep the budget deficit from "pulling down" the economy, Nečas said in an interview on Czech television yesterday. Gross domestic product will grow 1.6% this year and 2.3% in 2011, after shrinking 4.1% in 2009, according to Finance Ministry forecasts.

Czech bond yield declines to record low on S&P rating, confidence vote

Bloomberg |
12 August 2010

Czech 10-year bonds rallied, pushing yields to a record low, after Standard & Poor's said it may raise the country's credit rating and the cabinet won parliamentary backing for its plan to halve the fiscal deficit.

Czech inflation jump may not spark rate increase, Patria, Unicredit say

Bloomberg |
10 August 2010

A jump in the Czech inflation rate to the highest in 16 months may not prompt monetary policy makers to raise interest rates as price growth remains under their 2% target, Patria Finance and UniCredit SpA said.

ArcelorMittal Ostrava optimistic about Evraz talks, chief executive says

Bloomberg |
3 August 2010

ArcelorMittal Ostrava, the Czech unit of the world’s largest steelmaker, is "optimistic" it will renew pig iron supplies to Evraz Vítkovice Steel, its biggest customer, Chief Executive Officer Augustine Kochuparampil said.

Govt won't commit to target date for joining euro, Nečas says

Bloomberg |
30 July 2010

The new government won't commit to a target date for joining the euro, even as exporters suffer from the strengthening koruna, Prime Minister Petr Nečas said. He said the country will benefit from a flexible exchange rate as consumer prices converge with those in richer European Union-member states, and rapid euro adoption would risk fueling inflation. The koruna has gained 3.7% against the euro this month, the most among 177 currencies tracked by Bloomberg.

Koruna extends gains against euro, climbs to highest since 2008

Bloomberg |
29 July 2010

The Czech koruna extended its rally to the strongest level against the euro since November 2008, boosted by automatic purchase orders from investors who previously bet on the koruna weakening.

Telefonica O2 Czech says quarterly net fell 24% as customers cut spending

Bloomberg |
29 July 2010

Telefonica O2 Czech Republic AS, the largest Czech telecommunications company, said second-quarter profit fell 24% as customers cut spending on services and a one-off item from a year ago wasn't repeated.

Finance minister sees 'systemic changes' to meet budget deficit goal

Bloomberg |
28 July 2010

The government will take savings measures this year and in 2011 to ensure that it meets its budget-deficit targets, Finance Minister Miroslav Kalousek said. Without any cuts, the budget gap may reach as much as 6.6% of gross domestic product next year, compared with the target of 4.6% of GDP in 2011 and 5.3 percent for this year, he said.

Economic sentiment advances to highest level in 22 months in July

Bloomberg |
27 July 2010

Czech business and consumer confidence rose to the highest level in 22 months in July as rising demand for the country's exports drove a recovery from the recession.

New World advances most since May in Prague Trading on Coal-Price Increase

Bloomberg |
22 July 2010

New World Resources NV, the largest Czech supplier of coal to steelmakers, gained the most in two months in Prague trading after saying it agreed with customers to increase coking coal and coke prices in the third quarter.

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