Group SYNOT has acquired a stake in WILLY KLUB. It thus strengthens its position in Bosnia and Herzegovina. According to SYNOT International Limited General Manager Neofytos Neofytou, company’s goal for the year 2017 is to stabilise the current network of WILLY KLUB’s gaming points and raise the number of operated machines from 700 to about 800. Group SYNOT is active also in Romania, Serbia, Greece and Macedonia, where it recently acquired a stake in the company The Slots. It plans to expand to Croatia at the beginning of 2018.Continue Reading

International pharmacy chain Dr.Max has acquired group A&D Pharma, which owns the Sensiblu, Punkt pharmacy chains and wholesale company Mediplus in Romania. The transaction is still subject to approval by the anti-trust authority. Since June 2017 Dr.Max has been operating 31 pharmacies under the ARTA brand in Romania. The chain will thus have a total of 631 branches on the Romanian market. In Romania A & D Pharma employs 4,500 people. It ended the year 2016 with revenues totaling EUR 964m. The further development of the Dr.Max group’s chain is likely especially in Central, Southern and also Eastern Europe.Continue Reading

Ministry of Education, Youth and Sports will have a budget of almost CZK 169bn (excl. EU contribution) for 2018, up CZK 21bn y/y. The budget incl. EU funding totals CZK 176.1bn. The extra money is designed primarily for systematic raising of pedagogic and non-pedagogic workers’ tariff salaries, university budgets, capacity of nursery and elementary schools and support for sports. The Chamber of Deputies approved on December 19, 2017, as part of the adjusting proposals to the 2018 state budget, CZK 300m extra for nursery and elementary schools and CZK 100m for special schools.Continue Reading

The share of companies reporting non-financial indicators in the Czech Republic grew to 51% in 2017 from 43% in the previous two years. This stems from a survey by KPMG, according to which Czech companies are among the least transparent in the world and the region in non-financial indicator reporting. Traditionally, leaders in non-financial reporting include companies from the UK, Japan and India, where non-financial indicators are made public by almost 100% of companies. Slovak firms report the data in 55% of cases, up from 48% in 2016. KPMG has added that organisations of public interest are obliged to report their non-financial indicators since 2017.Continue Reading

Developer CTP has acquired the former spa barracks in Stříbro from Waystone. CTP’s Head of Marketing Július Hájek has told ČIANEWS that CTP will continue with the approved development of the location. The project for the revitalisation of former barracks, which includes already prepared industrial zone and other development lots, has supplemented CTP’s project portfolio in the region. The acquisition responds to growing demand in the location.Continue Reading

Czech banking sector generated after-tax profit of CZK 59.9bn as of September 30, 2017, down from CZK 60.63bn in 9M 2016. The profit from banks’ financial and operating activities dropped to CZK 133.15bn from CZK 139.48bn. Interest yields totalled CZK 107.96bn. Revenues from fees and commissions totalled CZK 32.87bn. There were totally 47 banks and foreign bank branches on the Czech market as of the end of Q3 2017. This stems from the data made public by the Czech National Bank (CNB).Continue Reading

Logistic provider DACHSER Czech Republic plans to open new lines in 2018. In Q1 2018, the company will connect two more German branches to the Czech market. DACHSER CR will newly operates routes from Brno to Dortmund and Cologne. The total no. of lines run by DACHSER CR will thus grow to 91. DACHSER CR’s general director and board of directors chairman Petr Kozel has stated in an interview for ČIANEWS that the company will also raise wages and will invest into staff training. The employee base grew by 7% y/y to 513 in 2017.Continue Reading

Utility ČEZ has obtained permission from the State Office for Nuclear Safety for the operation of the 3rd and 4th blocks in Dukovany Nuclear Power Plant for an unlimited period of time. The first and second blocks have already obtained licences. ČEZ has informed that it has invested more than CZK 18bn into the Dukovany power plant’s modernisation and security boost. Additional investments into the power plant’s safety are planned. The group estimates additional lifetime of existing blocks in Dukovany at at least 20 years, with potential prolongation.Continue Reading

The banking sector in the Czech Republic was sufficiently resistant against potential negative shocks as of the end of Q3 2017. This stems from the stress tests carried out by the Czech National Bank (CNB) at the end of Q3 2017. The sector’s capital endowment stayed high above the minimum regulatory requirement of 8% even in the stress scenario based on a major drop of economic activity in the Czech Republic and abroad. The sector’s resistance is based primarily on high capital ratio, which totalled 18.4% as of the end of September, and existing profits. Credit risk remains the biggest risk factor.Continue Reading

Czech software developer eMan is one of four companies that will develop and manage for the Publications Office of the European Union mobile applications for EU citizens. The contract, worth almost CZK 90m, has been signed for four years. The goal is to ensure simpler and more transparent access to information from individual European offices. The application’s users will thus have access to new laws, statistics and other data. The applications will be available in up to 24 language versions.Continue Reading