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Edition: 01 August 2021

Prague Monitor / Czech News in English
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Prague Monitor / Czech News in English > Articles by: Bloomberg

Bloomberg

Moneta Bank Expects Fresh Offer From Czech Billionaire Family

2021-07-29
By: Bloomberg
On: July 29, 2021
In: Business, Featured

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Czech Tycoon Revives IPO Plan for Apollo-Backed Lottery Firm

2021-07-08
By: Bloomberg
On: July 8, 2021
In: Business, Featured

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Czech President Labels Transgender People as ‘Disgusting’

2021-06-27
By: Bloomberg
On: June 27, 2021
In: Featured, Politics

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Billionaire Kellner’s Heirs Face Showdown in Bank Takeover Plan

2021-06-22
By: Bloomberg
On: June 22, 2021
In: Featured, Finance

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Pirate Leader Seeks to Oust Czech Billionaire and Embrace Europe

2021-06-16
By: Bloomberg
On: June 16, 2021
In: Featured, Politics

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Sticky

Tycoon’s team rebuffs activists over Czech bank merger plan

2021-02-02
By: Bloomberg
On: February 2, 2021
In: Business, Featured, Finance

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Czech startup founders turn billionaires without VC help

2020-12-21
By: Bloomberg
On: December 21, 2020
In: Business

While investment funds in Silicon Valley have turned the owners of many unprofitable startups into billionaires overnight, the founders of JetBrains s.r.o. have managed the feat without the help of venture capital.Continue Reading

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IFF Prague – Febiofest forms part of the new Ass IFF Prague – Febiofest forms part of the new Association of Czech Film Festivals.⠀ ⠀ The International Film Festival Prague – Febiofest and six other major Czech film festivals – Anifilm Liberec, Finále Plzeň, One World, Summer Film School Uherské Hradiště, Jihlava IDFF and Zlín Film Festival – have come together to create the Association of Czech Film Festivals.⠀ ⠀ This organization should enable festivals to efficiently solve the long-term problems facing the film festival scene, which have only intensified due to the complicated pandemic situation in the Czech Republic.⠀ ⠀ “I am very happy we have co-created an organization for film festivals which will also welcome other festivals as associate members. It is time we established a new, modern, professional system for financing film culture in the Czech Republic. Film festivals, who by bringing the best, most interesting productions from around the world contribute to the development of complex critical thinking in young people, are undoubtedly an intrinsic part of this,” says IFF Prague – Febiofest’s director Kamil Spáčil.⠀ ⠀ The issues facing Czech film festivals had been mounting even before the pandemic hit. The widening divide between growing expenses on the one hand and stagnating revenues on the other were pushing festivals – including those with years- and decades-long traditions and a loyal audience base – to the very limit of sustainable existence. The Covid-19 pandemic and the ensuing restrictions simultaneously made the problem more apparent and significantly exacerbated it.⠀ ⠀ #prague #czechrepublic #praha #travel #czech #europe #travelgram #Europe #love #praga #instagood #instatravel #city #prag #picoftheday #pragueworld
Czechs pay more for electricity than anyone else i Czechs pay more for electricity than anyone else in Europe.⠀ ⠀ People in the Czech Republic have been paying more for electricity than citizens of any other country in Europe, according to a new report from Eurostat. ⠀ As Yookee reports, Germans, for example, are paying 37% less for electricity than the average Czech. ⠀ ⠀ “After accommodating for the purchasing power of each currency to allow for country-to-country comparisons, this is by the highest price in all of Europe. This is almost one-fifth more expensive, after conversion according to purchasing power parity of the local currency, than the second-highest electricity price in the E.U,” said Lukáš Kovanda, chief economist from Trinty Bank.⠀ ⠀ According to the Eurostat data, the average Czech household was paying about 4.66 CZK per kilowatt-hour last year, and consumed between 1,000 and 2,500 kilowatts. The economist says that even without accounting for the difference in purchasing power between Czechs and Germans, Czechs are still paying a higher price.⠀ ⠀ “Electricity was much more expensive for households in the Czech Republic than for German ones, even without accomodating for purchasing power. In the Czech Republic last year, without accounting for this metric, the kilowatt-per-hour price according to Eurostat stands at an average of 0.18 Euros annually. In Germany it was 0.17 Euros,” Kovanda said. ⠀ ⠀ Eurostat’s data is showing that Czechs paying more for electricity comes despite drastically plunging electricity prices in the country.⠀ ⠀ Looking purely at numbers, Bulgaria and Hungary pay the least for electricity, but when adjusting for income and purchasing power, Luxembourg pays the least. ⠀ ⠀ #news #covid #coronavirus #media #corona #viral #breakingnews #noticias #politics #trending #new #info #tvl #business ⠀ #czechnews
Czechs still lose savings due to the lack of finan Czechs still lose savings due to the lack of financial education.⠀ ⠀ A quarter of Czechs still leave their savings susceptible to the inflation process by securing them in cash. However, they are interested in making new investments, according to the Generali Investments CEE research.⠀ Cash savings are a preferred choice for a tenth of participants, especially for those with basic education. 14 percent of the respondents prefer keeping savings in a bank account.⠀ ⠀ “More than a fifth of Czechs have over 100,000 crowns in cash or in a bank account. Their savings are also subject to inflation and lose value in real terms. For example, last year, people who saved their money that way suffered a loss of up to 3.2 percent in value due to inflation and insufficient financial literacy generally,” Peter Mederly, Generali Investments CEE’s sales director, explained.⠀ ⠀ Based on the Eurostat research, Czechs participate in investments less often than other Western European citizens. For example, in Germany, 36 percent of participants hold savings in cash while in the Czech Republic this value sits around 45%. The Netherlands showed one of the lowest results with 15 percent of those who prefer cash savings. ⠀ ⠀ As for investments, 38 percent of Czechs invest their savings. A tenth of them considers investing through specialized companies to be a rational decision. Also, cryptocurrencies became a more popular trend with 13% of male and 5,4% of female respondents preferring it as a saving option.⠀ ⠀ #news #covid #coronavirus #media #corona #viral #breakingnews #noticias #politics #trending #new #info #tvl #business ⠀ #czechnews
Czech Republic set to buy millions AstraZeneca vac Czech Republic set to buy millions AstraZeneca vaccines Denmark no longer wants.⠀ ⠀ Jan Hamáček, Minister of the Interior for the Czech Republic, has instructed the Czech ambassador in Denmark to inquire with Danish officials about purchasing AstraZeneca vaccines that the Western European country has now written off as dangerous. ⠀ ⠀ “Denmark has announced that it’s suspending the use of AstraZeneca vaccinations. I have instructed the Czech Ambassador in Copenhagen to contact the Danish authorities immediately and express the Czech Republic’s interest in purchasing all AstraZeneca vaccines from Denmark,” Hamáček said on Twitter. ⠀ ⠀ Danish officials recently announced they would be withdrawing all 2.4 million doses of the vaccine until further notice. The Danish Health Authority (DAN) said that their studies had shown a higher than normal occurrence of negative effects like blood clots and thrombosis, allegedly affecting about one in every 40,000 recipients.⠀ ⠀ Danish authorities have linked at least two cases of thrombosis to the vaccinations, one of them fatal for a 60-year old woman. Soren Brostrom, Director General of the DAN said that although it was a “difficult decision,” the country had other vaccines to choose from. ⠀ ⠀ “The upcoming target groups for vaccination are less likely to become severely ill from Covid-19,” he said. “We must weigh this against the fact that we now have a known risk of severe adverse effects from vaccination with AstraZeneca, even if the risk in absolute terms is slight.”⠀ ⠀ #news #covid #coronavirus #media #corona #viral #breakingnews #noticias #politics #trending #new #info #tvl #business ⠀ #czechnews
Positive COVID-19 tests can be harmful to children Positive COVID-19 tests can be harmful to children’s mental health.⠀ ⠀ A positive result of a regular COVID-19 test can have negative effects on the child’s mental stability, according to the Olomouc clinical psychologist Adam Suchý.⠀ ⠀ One child’s positive COVID-19 test result can send the whole class into quarantine which can provoke bullying of the “guilty” student. Currently, some students returned to schools with regular testing conditions in effect from April 12. ⠀ ⠀ Suchý noted that after a year of lockdown, children are very excited to come back. They want to become a part of their social group again, but public testing and the possibility of negative results can make them feel isolated again.⠀ ⠀ “Children have no physical problems, they feel healthy, most of them are looking forward to school for friends and socialization, and suddenly, someone marks them as sick and dangerous to their surroundings,” Suchý explained.⠀ ⠀ Children who are not the leaders of the group might feel weak when other kids blame them for yet another quarantine. According to the psychologist, it is dangerous and wrong to create an atmosphere of disrespect because not every kid can handle it correctly.⠀ ⠀ Experts offered teachers to assure children that nothing bad will happen if the results come out positive and nobody will be blamed for that. Parents also should provide emotional support to their children.⠀ ⠀ #news #covid #coronavirus #media #corona #viral #breakingnews #noticias #politics #trending #new #info #tvl #business ⠀ #czechnews
Czech Republic records the lowest number of new bu Czech Republic records the lowest number of new businesses in 12 years.⠀ ⠀ The Czech Republic saw a decrease of 11 percent in entrepreneurship in the last quarter compared with the last year’s results. Only 14 000 Czech entrepreneurs established their own new businesses which is the lowest result in 12 years.⠀ ⠀ People were not exceptionally hopeful about the first quarter of the year because they did not expect the restrictions to be over. However, according to CRIF (Czech Credit Bureau), the number of closed businesses was also low.⠀ ⠀ “In the first quarter of this year, people had little hope for an early easing of anti-epidemic measures. At the same time, they assumed that existing entrepreneurs are experiencing the worst period since the beginning of the pandemic,” CRIF analyst Věra Kameníčková explained. She added that people don’t have any confidence in the current economic situation.⠀ ⠀ The interest occurred to be low because many existing businesses operate through insufficient financial resources. Banks are reluctant to give loans, yet occasionally, crowdfunding companies can help.⠀ ⠀ “In such a situation, people’s willingness to start a new business naturally declined,” Kameníčková said.⠀ ⠀ #news #covid #coronavirus #media #corona #viral #breakingnews #noticias #politics #trending #new #info #tvl #business
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