The Czech Republic, Romania and Hungary face the risk of exchange-rate crises over the next one year as fiscal and external challenges mount, according to Nomura Holdings Inc. The warning is based on analysis of eight indicators including FX reserves import cover, real short-term interest rates, as well as fiscal and current account measures, according to Nomura’s Damocles Index which assessed 32 emerging markets’ vulnerability to a currency crisis. Egypt, Sri Lanka, Turkey and Pakistan have already experienced crises but are not yet out of the woods, Nomura analysts Rob Subbaraman and Si Ying Toh wrote in a report Monday. Hungary’s forint is among the worst-performing emerging market currencies this year after a hold up in recovery funding from the European Union. Currencies of Romania and the Czech Republic have also declined more than 8% against the dollar. Vulnerability of emerging market currencies is now at the highest in more than two decades and gives an “ominous warning” of growing broad-based risks, the report said.
The Czech Republic will send another two heavy bridge structures to Ukraine as humanitarian aid, Fire Authority spokeswoman Jana Urbancova told journalists yesterday. Firefighters are carrying out the transport. The fee for emergency health care does not fulfil its regulatory function and should be increased from 90 to 200 crowns, the president of the Czech Medical Chamber (CLK), Milan Kubek, told Czech Television today. Interest among Czechs in subsidies for photovoltaics and heat pumps has reached a record high this year, Czech Television reported. The authorities have already received more than 56,000 applications this year, almost four times more than last year. People in Czechia can get tested for HIV and hepatitis B and C for free from Monday to Sunday within a Europe-wide prevention and awareness campaign. Eighty-two testing sites will be open to the public The Czech Republic, Romania and Hungary face the risk of exchange-rate crises over the next one year as fiscal and external challenges mount, according to Nomura Holdings Inc. The warning is based on analysis of eight indicators including FX reserves import cover, real short-term interest rates, as well as fiscal and current account measures, according to Nomura’s Damocles Index which...
Bonobo has long been one of the most successful producers on the electronic scene, releasing a number of albums under the renowned Ninja Tune label, topping the charts worldwide and earning three Grammy nominations. He returns to Prague after four years with a concert at the Forum Karlín on November 26. This time he brings his current recording Fragments, the most emotional album Simon Green aka Bonobo has ever composed. It’s also one of Bonobo’s most collaborative projects, with memorable appearances coming from Jamila Woods, Joji, and Jordan Rakei, to name a few. Though there’s no drastic change to the Bonobo blueprint, it’s unlikely that you’ll find a track in which Green doesn’t sound equally masterful and laid-back in his craft, delivering his most soulful and slick efforts to date. Fluttering strings, orchestral arrangements and choir chants are woven atop infectious beats and trip-hop rhythms, sounding akin to the work of Caribou and Four Tet on tracks like ‘Otomo’ and ‘Age of Phase’. That being said, Green certainly is in a league of his own, delivering a rich, majestic sound suited for both late-night festival slots as well as historic big-band halls. More info and tickets here Fragments by Bonobo
This year’s Christmas tree for Prague has been felled and preparations are underway for its transport to the Czech capital. The 25-metre tall spruce tree will grace Prague’s Old Town Square and will be officially lit on November 26th. The spruce tree is 58 years old and will leave the town of Kytlice for Prague on Sunday afternoon. “For safety reasons, the tree had to be tied to a crane rope at a height of about two-thirds and only then can the actual felling begin. Subsequently, the branches at the bottom of the trunk must be trimmed and the trunk machined to fit into the two-metre deep anchor shaft on Old Town Square,” described Tomáš Jílek, chairman of the board of directors of the company Technologie hlavního města Prahy (THMP). “The Christmas tree must not only be beautiful and healthy but also accessible for heavy equipment,” explained Hana Tietze, spokeswoman for Taiko, the company that organises Prague’s Christmas markets. On Sunday afternoon, the massive tree will be transported by truck to a logistics facility near Mělník. “The tree will arrive at Old Town Square in the early morning hours of Tuesday, 22 November. The transport will take place at night...
Police officers and soldiers, who have been conducting renewed checks on the Czech-Slovak border since September, intercepted almost 8800 illegal migrants, according to Leoš Tržil, head of the South Moravian police force. Most of the refugees claim they are from Syria. Hospitals and medical centres in Czechia are struggling with a shortage of nurses. According to an analysis by the Institute of Health Information and Statistics, the Czech health system currently lacks around 4,000 nurses. Real wages in Czechia will fall by 8.3 % this year due to two-digit inflation. It will be the biggest drop among the Visegrad Four countries (the Czech Republic, Slovakia, Poland and Hungary) and a steeper decline than the EU average, according to an analysis by the investment company Cyrrus. Low-cost airline RyanAir is to resume flights between Brno and the Italian city of Bergamo, near Milan, for the first time since the route was cancelled at the beginning of the Covid-19 pandemic. Czech real wages fell almost 10% in the second quarter, according to the latest data, and some central bankers see diminishing risks of a wage-inflation spiral. The central bank has forecast nominal wages to rise 6.3% in 2022...
Almost 57 percent of Czechs are planning to spend less this Christmas than they did last year, suggests a survey carried out by the STEM/MARK agency. Seven out of ten people said they would cover their Christmas expenditures from their regular monthly salary and select mainly cosmetics and books 57 per cent of respondents will spend less on Christmas presents this year, 15 per cent will wait for the post-Christmas sales while a tenth of respondents will not buy presents because of the rising prices and the unfavourable economic situation. Last year, 40 percent of people saved money on buying gifts. This year’s pre-Christmas survey, according to the authors, shows that people are more worried and will therefore cut back on Christmas. Forty-three per cent of respondents expect to spend up to CZK 5,000 on all Christmas presents, while 30 per cent want to buy gifts of up to CZK 10,000. While two years ago 34 per cent of people bought electronics for their loved ones, this year only 16 per cent of respondents want to buy them as Christmas presents. Traditionally, cosmetics and books or small gift items ranked first. The types of gifts that Czechs will buy this...
The weekend is expected to bring the first bout of cold winter weather to the Czech Republic with up to 15 centimeters of snow in places and day temperatures hovering around zero. Temperatures will drop to -7 degrees Celsius at night and drivers have been warned to expect icy conditions. The Czech Hydrometeorological Institute has issued a warning about snowfall. It is expected in some regions of the country on November 18 and 19. A warning for low-level snowfall is in effect from 20:00 on Friday until 18:00 on Saturday for the Vysočina, Ústí, Karlovy Vary, Plzeň, Central Bohemia, South Bohemia and South Moravia regions. Between 5 and 15 centimetres of snow may fall there during this period. In addition, forecasters have warned that the night of Sunday, November 20, will be quite frosty. Depending on the region, overnight temperatures will range from -8 to -12°C. Drivers should expect snowdrifts and the fact that less frequented roads may be impassable. The current spell of cold and wet weather has already brought the season’s first snow to most of the country’s mountainous regions.
If you haven’t been here yet, you’re missing out, as the vibrant Cafe Nebusice serves up authentic flavours of Indian cuisine, with a modern twist. It puts a modern spin on the traditional Indian restaurant with a cool and casual space with fun vibes, great food, go-to cocktails, great coffee, and cakes. The owners Nishant and Alana are both foodies and come from culinary scenes. Nishant worked in hospitality in India and Alana comes from a family with an 85-year background in the restaurant industry. They stumbled upon this restaurant after Covid and made it their mission to liven the place up. They are still running it as a pop-up and hope to finalize the name in the coming months. They were so tired of the stereotypical Indian restaurants in Prague with the same design and styles. “We wanted something new, an Indian restaurant does not always have to have a traditional Indian setting,” says Alana to Prague Morning. “We want to build a community and have a contemporary perspective on Indian cuisine. We organize fashion pop-up events and lots of other fun get-togethers. The food and atmosphere are homely and we bring to you Mom’s style of cooking in...
In Ostrava, huge piles of coal are stacked up ready to sell to eager buyers and smoke belches from coal-fired plants that are ramping up instead of winding down. The city has been working for decades to end its legacy as the most polluted area of the country, transitioning from an industrial working-class stronghold to a modern city with tourist sights. But Russia’s war in Ukraine has triggered an energy crisis in Europe that as paved the way for coal´s comeback, endangering climate goals and threatening health from increased pollution. Households and businesses are turning to the fuel once considered obsolete as they seek a cheaper option than natural gas, whose prices have surged as Russia slashed supplies to Europe. Demand for brown coal – the cheapest and most energy-inefficient form – used by Czech households jumped by almost 35% in the first nine months of 2022 over a year earlier. In the same period, production rose more than 20%, the first increase after an almost continuous, decadeslong decline, the Czech Industry and Trade Ministry said. Coal-fired power is not only disastrous for climate, it´s also a health hazard, releasing heavy particle emissions, nitrogen oxides and mercury, which contaminates fish in lakes and rivers. A 2021...
The Klínovec Ski Resort is opening the longest downhill slope in Czechia, and you can ski with the Gopass, valid all around Central Europe, at Ještěd and in other areas. The preparations for the upcoming winter season are in the spirit of modernisation with an accent on sustainability. Klínovec Boasts the Longest Czech Slope The slope is 3.5 km long, which makes it the longest downhill slope in the country! A modern covered four-seat chair lift will take you to the top. The slope at Klínovec in the Ore Mountains is quite gentle, perfect for beginners and families with children. The resort also offers a variety of food options, Après Ski Bar or a ski school with a magic carpet for the littlest ones. The car park is free with a ski pass. One Ski Pass/Seven Resorts, Including the Beskydy Valašsko Card! Starting this winter, the four-day ski pass will also let you explore the region of the Beskids. The ski pass can be used as the Beskydy Valašsko Card. The card offers about a hundred discounted services in the region, such as discounted admission to museums, water parks or sports equipment rental shops. The condition is to spend at least...
The Julius Meinl family celebrates its inaugural venture into the world of travel and hospitality with the grand opening of The Julius Prague. Founded by The House of Julius Meinl, The Julius is the newest addition to the family’s line of businesses committed to quality and service, dating back to 1862 and spanning six generations. The launch of The Julius Prague marks a continued commitment to luxury, high-quality services, now offered through a new hospitality experience designed to cater to ultimate flexibility and longer stays; and soon to expand internationally to new locations. Designed by Matteo Thun & Partners to reflect a new style of hospitality, The Julius Prague offers a ‘feeling of home’ for the modern traveller, with a range of 168 individual residences, many complete with living rooms and separate bedroom spaces, and featuring an open-plan kitchen. The Julius Prague is housed within a large-scale neo-renaissance building in the heart of the city, just steps away from Prague’s Old Town gates and Wenceslas Square. Custom furniture designed by Matteo Thun & Partners can be seen throughout the residences, communal areas and a restaurant and bar. The Emporium bistro and bar sits at the centre of the property offering the perfect setting for lunch or relaxed working during the day, before the lighting dims to a calming atmosphere, encouraging guests to enjoy...
The budget airline Ryanair is planning to increase its number of routes from Prague by two next year, adding the Polish city of Gdańsk and the Greek island of Skiathos in 2023. The Prague-Gdansk flight will start on 29 March. It will operate twice a week, on Wednesdays and Saturdays. The city is located on the shores of the Baltic Sea, and its historic centre is a UNESCO World Heritage Site. Tickets are on sale now. Round-trip fares start at 2,800 crowns for a standard round-trip flight. Ryanair will launch its seasonal flight to Skiathos Island at the start of the holiday season on June 2. It will also operate twice a week – on Tuesdays and Fridays. Tickets for this destination are not yet available for sale. About Gdańsk and what to visit Located on the northern coast of Poland, almost 600km from Kraków, Gdańsk is famous for its shipyards and historical connections to water. It is here that the Vistula river merges with the Baltic. Somewhat similar to Kraków’s Market Square, Długi Targ (Long Market) is flanked by beautiful, historical houses, each with a story attached. Here you’ll find the Historical Museum of Gdańsk in the town hall,...
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