Thursday, 19 October 2017

Reuters

Czechs pin hopes on billionaire Babis to fix their country

Reuters |
13 October 2017

The traffic jams and roadworks that snarl the 200 km main highway from the capital Prague to the southeast are a symbol of how many Czechs feel their government is broken - and how they are looking for a new champion to fix it.

VW's Skoda committed to Czech Republic, plans to add jobs

Reuters |
12 October 2017

Volkswagen's Czech carmaker Skoda Auto underscored its commitment to its home country on Wednesday, saying it was planning to add jobs there amid worries the business could lose some production to Germany.

Police charge PM candidate Babiš with subsidy fraud

Reuters |
10 October 2017

Andrej Babiš, the frontrunner to become Czech prime minister after this month's election, said on Monday he had been formally charged with fraud in a case involving a 2 million euro EU subsidy a decade ago. Babiš has repeatedly denied any wrongdoing, saying the investigation was a plot by adversaries who want to prevent him from taking power and cutting corruption links between the EU member country's incumbent politicians and business.

Czech car sales cruising to record 2017

Reuters |
5 October 2017

Czech new car registrations rose by 6.6 percent in the first nine months of 2017 to 205,511 vehicles, putting sales easily on pace to surpass a record 2016, the country's Car Importers Association said on Wednesday.

PM wants to discuss potential Škoda production move with company, unions

Reuters |
5 October 2017

Czech Prime Minister Bohuslav Sobotka wants to meet leadership and unions at Volkswagen's unit Skoda Auto to discuss any potential production move to Germany, the prime minister's office said on Wednesday. Volkswagen sources told Reuters that managers and unions are seeking to curb competition from the lower-cost stablemate, move some of its production to Germany and make the Czech brand pay more for shared technology.

Textile company Pegas lines up deal for new production line

Reuters |
29 September 2017

Artificial textiles manufacturer Pegas says has signed a memorandum of understanding to buy a new production line for its plant at Znojmo in the Czech Republic. Company says annual production capacity will be 8,000-15,000 tonnes, part of which will be used for research and development.

Election favourite Babiš says ČEZ split would cost consumers

Reuters |
29 September 2017

The Czech election frontrunner, billionaire businessman Andrej Babis, said on Wednesday that splitting up state-owned utility CEZ would cost customers and leave the government without a "lucrative" part of the energy business.

Central bank seen waiting for November to hike rates again

Reuters |
26 September 2017

The Czech central bank is likely to keep interest rates unchanged on Wednesday and will instead deliver another hike when it has new economic forecasts ready in November, a majority of analysts said in a Reuters poll.

Gov't approves 2018 budget with shrinking deficit

Reuters |
26 September 2017

The Czech cabinet approved on Monday its 2018 central state budget draft with a planned deficit of CZK 50 billion, the last finance plan for the centre-left ruling coalition before an October election. The gov't is aiming to boost teachers' pay and other salaries while also trimming a deficit seen at CZK 60 billion in 2017. The state has had little trouble with financing while the country has the lowest unemployment in the EU and a fast-growing economy.

Central banker: Rate hike vote may come in September or November

Reuters |
14 September 2017

The Czech central bank could raise interest rates again in September or November with economic and wage growth outpacing expectations, board member Vojtech Benda said.

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