The Czech National Bank is likely to raise its main rate by 50 basis points to 5.50% on May 5, a Reuters poll suggested on Monday, pushing borrowing costs to their highest level since 1999 to face still-surging inflation. The central bank has already raised the two-week repo rate by 425 basis points since June, tightening aggressively to tackle inflation which rose to a 24-year high of 12.7% in March. Energy costs have been a main driver of inflation, made worse by Russia’s invasion of Ukraine, and the bank has seen strong domestic demand adding to pressure at home. In a Reuters poll, all 11 analysts expected the central bank to deliver another 50-basis point hike on Thursday, matching the rise delivered at the end of March. Some analysts had earlier raised the prospect of a 75-basis-point hike, but have pulled back amid more cautious central bank comments. Central bank Vice-Governor Marek Mora said in an April 26 interview with Reuters that the bank faced a dilemma whether to raise interest rates further as inflation soars but while demand gets hit by falling real incomes. Vice-Governor Tomas Nidetzky said last week he expected there would be a debate between a...
After a forced pandemic break, Prague is finally coming back to life and is once again filling with crowds of tourists. With the many visitors, the question of where to stay arises. Forbes has just released its next Travel Guide which features the best hotels, restaurants and spas on the planet in its five-star luxury category. There is also a recommended segment with four-star alternatives. Prague itself has seven hotels mentioned in the Travel Guide. This attests to Prague’s beauty and the strength of the companies themselves. The last remark is that the newly opened five-star Andaz on Senovážné náměstí and the planned Europe and Fairmont hotels may be added o the list in the future as the luxury hotel segment in the Czech capital is currently expanding. So where should you spend the night if you want the best of the best? Alchymist Grand Hotel and Spa The ingenious location in the heart of Lesser Town is just the beginning. In fact, it is difficult to highlight what is the best here, so we have the help of American Forbes with the evaluation. American Forbes appreciates the pool, spa, restaurant and the fact that “you will come across who...
Karlštejn Castle is a foreboding yet fairy tale restored Gothic building set atop a hill, amidst evergreen forests, 30 kilometers south-west of Prague. It’s one of three famous castles close to the capital and an easy day trip by car, train, or guided tour. The castle is the fifth most visited castle in the Czech Republic and has a storied past, once housing the Bohemian crown jewels during the reign of Charles IV. On May 14, 2022, starting at 11 am, it will host one of the most important beer festivals in the country. You can taste beer from different breweries, such as Pilsner Urquell, Kozel, Gambrinus, Radegast and craftbeers like Hostomice, Panaczech, Brewi, Malý Janek, Vik and many others. You can find more information here. After 11:00, you can also learn how to pour a perfect draft beer, with the help of different brewmasters from the Pilsner Urquell Brewery. The skills they possess are quite unique. For this very reason, cooperage was added to the National List of Cultural Heritage in 2018! Program 13:00 Music band – Realita Another round of pouring draft beer teaching, public contests (the fastest drinker, beer relay, double beer drink contest, and others) 16:00...
On 2 May, the Czech City of Brno announced that it will send two trams and six trolleybuses to its Ukrainian partner city Kharkiv. According to the municipality, sending the public transport vehicles will help war-torn Ukraine begin rebuilding the infrastructure and public services it has lost since Russia’s invasion in February. In a press release, the Mayor of Brno Markéta Vaňková explained that donating public transport vehicles is an effective and rapid way of helping Kharkiv at the moment. As such, Vaňková contacted the Brno City Transport Company to arrange the donation of the trams and trolleybuses which it planned on discontinuing as part of its fleet renewal. It is important to clarify that although the selected trams (T3) and trolleybuses (Tr14) would have been removed from circulation, they can still run and function smoothly. Confirming this, General Manager of the Brno City Transport Company Miloš Havránek explained: “These are vehicles that are still in use in our country, but we are able to let go of them without affecting the quality of services. They undergo regular service, so even though they date from the 1980s and 1990s, thanks to their good condition, they can still serve for many...
If your day doesn’t start until you’re up to speed on the latest headlines, then let us introduce you to our new morning fix. The Usti police have busted a 32-member gang of large-scale producers of pervitin (methamphetamine) from medicines bought in Poland. The suspects face up to 12 years in jail if found guilty. In the latest raid, the police seized 9.5 kg of medicines that could be used to produce pervitin worth 2.5 million crowns. . Czechia and Slovakia have been preparing an agreement on the cooperation of their rescue services so that Slovak or Czech rescuers can help on the other side of the common border if needed, the Czech and Slovak health ministries said after their meeting in Bratislava. The interior ministry wants the Czech Republic not to issue visas and residence permits to Russians and Belarussians even after the state of emergency ends and proposes that the cabinet be able to restrict the entry and stay of foreigners by its order in a bill released on the government website. The measure will exert pressure on Russia and Belarus and may help end the war, the ministry argued. The Czech Republic issued 1,238...
Leonardo da Vinci once said that where the spirit does not work with the hand, there is no art. Michelangelo wanted to carve the angel in marble until he could set him free, and Van Gogh stated that if we ever hear a voice within us saying “you cannot paint,” then, by all means, we should paint, silence that voice. Art, on many occasions, is a vehicle that transports freedom. It is a balm that relieves stress and for many, it serves as therapy. There is no such thing as something that is not art. The important thing is how it makes us feel. The magic of art can be found in many places: the world’s most exceptional museums, the tallest pyramids in all of Egypt, the lushest landscapes and the most romantic streets of Prague. In one of the streets of the capital of the Czech Republic, next to the National Museum and a few steps from Wenceslas Square, is one of the places that the ancient Greeks called “arcadia”. An idyllic place that invites you to dream and to be: Art House Atelier. Its doors open and we discover a studio decorated with paintings of all styles: romanticism,...
Although nowadays the spa and relaxation stays operate all year round, the past has maintained a pleasant tradition – the spring opening of the spa season. What can you expect from such an event today? Get ready for historical costumed processions, the consecration of springs, fairs and historical markets, concerts, festive masses, and evening light shows and fireworks. You can experience all this at participating spas all over the Czech Republic this spring. Karlovy Vary (6–8 May) The West Bohemian town of Karlovy Vary is commencing its 665th spa season this year. During the weekend, you can visit the craft fair, exhibitions, concerts, and other cultural performances as well as social events, which are traditionally held in the historical spirit. Will you be lucky and take a selfie with the city’s founder, King Charles IV? Like every year, you have a chance to see him in the costumed parade! The whole city centre will come to life during the weekend, and you can choose from an offer of several different event locations. Luhačovice (6–8 May) The so-called Opening of Springs will take place in Luhačovice in the east of Moravia, not far from Zlín. Luhačovice is known for its unique...
The Czech Republic has bought 2.4 terawatt hours (TWh) of gas for 8.5 billion crowns from majority state-owned utility CEZ to add to its state reserves in case of supply problems. The central European country is nearly 100% dependent for its gas on Russia, which cut gas supplies to Bulgaria and Poland last Wednesday after they refused to pay it in roubles, sparking concerns other countries could be similarly hit. “The Czech Republic is increasing its energy security with this purchase,” Pavel Svagr, head of the State Material Reserves Administration, wrote on Twitter. It is the first time the state has bought gas reserves. The price paid includes transport and storage, and the volume amounts to around 2% of the country’s 2021 consumption. The country also holds reserves of oil and oil products sufficient to cover its needs for three months or more. On Sunday, the Ministry of Industry and Trade Josef Síkela said that gas storage tanks in the Czech Republic are 30 percent full at the moment, adding that the country’s gas reserves have exceeded one billion cubic metres. Síkela said the target for 80 per cent of storage capacity to be filled by the start of the...
If your day doesn’t start until you’re up to speed on the latest headlines, then let us introduce you to our new morning fix. Gas storage tanks in the Czech Republic are 30 percent full at the moment, the Ministry of Industry and Trade Josef Síkela said on Sunday, adding that “the target for 80 per cent of storage capacity to be filled by the start of the next heating season will be fulfilled.” . Czech Republic has provided military aid worth almost three billion crowns to Ukraine faced with Russian invasion so far, Jana Zechmeisterova from the Defence Ministry said today. With the Czech Republic taking over the rotating EU Council presidency in July, it has confirmed that it wants to focus on the refugee crisis, energy independence, and the Chips Act. Petr Fiala’s (ODS) government has hinted at the direction it will take regarding the Czech EU Presidency priorities, with many topics being dictated by the war in Ukraine. In an interview with Seznam Zpravy, Health Minister Vlastimil Válek discussed future plans for the Covid-19 vaccination, predicting that vaccination against Covid-19 may become an annual occurrence. Speaking at the congress of the Bohemian-Moravian Confederation...
A man who climbed up a construction crane in Hybernska street was later brought safely to the ground following a high-stakes rescue operation Sunday morning. Eyewitnesses first called the police. The officers climbed the crane several meters, but when they realize that the man was not able to go down on his own, they called firemen. Two firefighters specializing in high-climb rescues were sent in to climb the crane boom and rappel down to the man. Officials said the decision was made not to move the crane and to have both the firefighters and the man rappel down together. “In a conversation between the crane operator and the rescuer at the tip, there was some concerns around a series of moving parts and there would have been a lot of moving cables, pulleys and so forth,” they added. It took 30 minutes for crews to safely return the man to the ground. The citizen was heavily drunk – more than 2 per mille was found in his blood. He was taken to hospital as a precaution, and police did not provide details on how or why he is alleged to have climbed the crane. Police spokesperson said that probably no...
Construction of metro D, the fourth subway line, officially began last week. When finished, it will extend from Náměstí Míru to Depo Písnice in the south of the city. However, a fifth metro line is already under discussion, as Prague councilors recently approved the establishment of a working group that will examine the creation of a feasibility study. “The new line could provide tangential connections between the city districts so that passengers do not have to go through the centre to the three congested nodes Muzeum, Můstek, and Florenc,” said the Deputy Minister for Transport Adam Scheinherr. The working group will include representatives of the city council, experts from the Institute of Planning and Development, the transport company, the technical administration of roads, ROPID, the Railway Administration, the Faculty of Transport CTU and other experts such as sociologists. Construction could take at least ten years, in the section between Anděl, Smíchov railway station, Olbrachtová and Budějovická, according to transport models up to 150,000 passengers travelled there on a working day. “Although it may seem foolish or premature to plan another metro line at the same moment when we start metro D, we have to realize that new neighborhoods for hundreds...
If you want to get to know the Czech Republic with everything it offers, you must taste a glass of beer – golden treasure Czechs are very proud of. Beer festivals are an excellent opportunity for you to do so. It is a tradition that every fairly large brewery has its festival at least once a year. And what is the program like? Beer, beer specialities in the form of various kinds of grilled meat and cheese. This is accompanied by a musical performance and some kind of surprise of the night. Visit, for example, the Bernard Fest 2022 (24–25 June) in Humpolec, Bohemian-Moravian Highlands, CLOCK/DAY (23 July) in the eastern Bohemian village of Potštejn or the Radegast Day (27 August) at the Radegast Brewery in Nošovice. In addition to beer and food, the program also features cultural and musical events as is appropriate to a proper festival. Then, Dočesná in Žatec (3–4 September) is an event combining the features of a beer and music festival. The town that gave its name to the highest-quality hop variety has prepared a quality musical program involving the tasting of more than 100 beer types this year. And where you can go if...
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