If you prefer to pay in stores by swiping the magnetic strip of your bank card through the machine, you will probably have to find a new way to pay pretty soon. One of the main producers of credit and debit cards, Mastercard, is planning to completely stop adding magnetic strips to their cards in the next 10 years. According to the company, the main reason for this is the fact that magnetic strips were added to cards as the first prototype of a faster way to pay. Now, there are the much more secure contactless payments through a microchip, which are harder to abuse or tamper with. Thus, the company views the swiping of a card as an obsoleteContinue Reading

The smart application Airbnb has caused a revolution in tourism. Thanks to it, flats that used to be inhabited by local inhabitants became mini-hotels. During a ‘short-term lease’, customers, usually tourists, would pay considerable amounts of money to stay in the property for just a couple of nights, without significant taxation. Thus, property owners could earn significantly more money for just a little less certainty that the property will be occupied. However, in tourist destinations like Prague, there is always someone looking for a place to sleep in. Now, the Prague city court made a decision, that is meant to destroy the tax loophole apps like Airbnb or Booking.com have been abusing. This could destroy the whole business model ofContinue Reading

A manufacturing company has the potential to be one of the most lucrative business models you can follow, but it is also one of the most risk-intensive. This is because you will be required to commit a lot of capital up front, in order to pay for tooling, staff and the premises of your factory.  Furthermore, it is unlikely that you will be able to hit the ground running with sales, because any business takes time to find its feet and, more importantly, find its customers.  Unfortunately, time will be of the essence because the longer you are producing products that are left unsold on shelves, the more money is being flushed down the drain. Despite these challenges, however, youContinue Reading

For the first time in the history of the international holding company, the PPF was forced to report a net loss over the last year. The company was founded by the recently deceased richest man in Czechia, Petr Kellner. He left this world in a small helicopter crash under extremely unfortunate circumstances, which caused emergency services to arrive late for all but one passenger of the helicopter. The PPF was Kellner’s main business venture for most of his adult life. The company was first founded in 1991, shortly after the fall of the communist regime, to act as a fund that would make purchases during the privatization process for its investors. Even its name, PPF, loosely translates to First PrivatizationContinue Reading

By working together with the integrator Balíkobot, operating on the Lockers.ai platform, Alza.cz is opening the capacity of its Alzaboxes to carriers and interested buyers from an array of e-shops. Now, every partner connected to Balíkobot, as well as the customers of thousands of e-shops, both in the Czech Republic and Slovakia, can have their parcels delivered using the most robust network of lockers with over 100,000 collection boxes located all across both countries. Alza.cz, together with Balíkobot, joined its network of AlzaBoxes with the Lockers.ai platform. Both companies working together provide higher-quality delivery services, particularly for e-shop customers, as well as all the other customers of over 2,500 entities collaborating with the tech-logistics integrator Balíkobot. This allows for theContinue Reading

Among other heated topics, vaccination has been one of the most volatile conversation subjects in our society for a while now, dividing many families, teams and friendships. On one end, there are medical professionals who dedicate their lives to inventing the best possible protection for people against a quite deadly disease, and on the other side of the argument, there are internet guru’s, who exploit people’s skepticism and bad past experiences to make a profit for themselves. Unluckily, many people are quick to trust fake news about both the covid vaccine and other vaccines before it. Thus, when the owner of the Slovakian company Sedita, which supplies both halves of former Czechoslovakia with chocolate covered wafers, stated that: “unvaccinated peopleContinue Reading

According to data gathered by the Czech Statistical Office, the prices of Czech industrial producers are getting steeper much faster than expected. Annually, the prices rose by a whopping 7.8 percent. This number, recorded in the July of every year, has risen the most since the fall of 2004. Further prices have also risen, including those of farmers and builders. The prices have been reportedly rising since February, and they are not expected to stop rising anytime soon. This is partly due to the fact that prices of crude materials, such as oil and iron have been rising too, by as much as 20%. Fortunately, at least the prices of oil seem to be stabilising after the pandemic, so theirContinue Reading

Together with the delivery of cooked meals, the industry of delivering separate ingredients for customers to cook themselves has grown massively throughout the last 17 months. Supermarkets were, are and probably will be considered one of the more dangerous places to visit for a person during the pandemic. All sorts of people from the nearby area visit there, they all touch the same things, and then some proceed to ingest them into their bodies. This can be very dangerous during the pandemic, especially if government safety regulations are not followed. Thus, people shop online more and more, and the Czech company Rohlík.cz seems to be catering towards this trend across Europe. Recently, they have officially entered the German market underContinue Reading

In many past elections, parties focusing mainly on environmental issues often received little votes for their initiative. Thus, it seems rather safe to assume that most Czech voters are questioning the importance of fighting the Global Warming Crisis. However, when it comes to electricity, this trend fails to continue, as most Czechs actually support the idea of generating electricity. In 2020, more than half of all Czech electricity, a total of 52.5%, was still made by burning fossil fuels in power plants. The vast majority of that number is made up of burning coal. Both brown and black coal have a long standing tradition as sources of energy in the Czech Republic, as they are mined locally and there isContinue Reading