Czech billionaire Michal Strnad has offered €30 billion to acquire Delfin, the investment vehicle of Italy’s Del Vecchio family and the key shareholder in eyewear giant EssilorLuxottica. News of the offer, which was first reported by Italian newspaper Il Domani, comes amid growing tensions within Delfin, whose investment portfolio includes also large holdings in Italy’s financial sector. Il Domani published a copy of a letter dated October 20 outlining the offer. “I am looking for long-term investment opportunities in companies operating in, or investing in, businesses positioned at the top of their value chain,” Strnad said in the letter said, according to the newspaper. Delfin “perfectly fits my investment approach and strategy,” the letter added. Jan Osuch, a spokesperson for AKIPIA, which oversees some of Strnad’s investment activities outside the defence sector, said the group did not comment “on market speculation or potential business negotiations.” Strnad earlier this year bought a 14% stake in Italian tyre maker Pirelli, opens new tab from China’s Sinochem. Strnad, 34, heads the family’s defence company Czechoslovak Group (CSG) which listed in Amsterdam earlier this year. Delfin shareholder Leonardo Maria Del Vecchio, one of the six children of the late Ray-Ban billionaire Leonardo Del Vecchio,...
People in the Czech Republic could soon be allowed to decide whether they want to pay television and radio licence fees under a new funding model being prepared by the government. Prime Minister Andrej Babiš said the Finance Ministry is working on a system that would make contributions to Czech Television (ČT) and Czech Radio (ČRo) voluntary while ensuring the two public broadcasters receive a guaranteed level of funding. The proposal is expected to be discussed by the coalition council on Monday. For now, however, the existing system will remain in place. Although the government had initially hoped to introduce changes at the beginning of 2027, Babiš said the legislative timetable makes that unlikely. Under parliamentary rules, the bill requires a 60-day review period before moving forward. That means its second reading would fall during the Christmas period, delaying further debate until at least January 2027. The proposed changes have already sparked political and public opposition. On October 24, the Chamber of Deputies approved in its first reading a proposal to abolish television and radio licence fees. The governing coalition, made up of ANO, SPD and the Motorists party, added the measure to its priority legislative agenda. The vote took...
Czechia has the lowest share of people at risk of poverty or social exclusion in the European Union, with 12% of its population affected, according to 2025 data from Eurostat. The figure is well below the EU average of 21%, meaning that around one in five people across the bloc face the risk of poverty or social exclusion. Among children, the proportion rises to one in four. The EU measure covers people whose incomes fall below the poverty-risk threshold, those experiencing severe material and social deprivation, and those living in households with very low work intensity. Poland also records a relatively low rate, at 15%, followed by the Netherlands and Slovenia at 16%. Slovakia, Belgium, Finland and Cyprus each report 17%, while Austria stands at 19%. At the other end of the scale, Bulgaria has the highest share of people at risk of poverty or social exclusion, at 29%. Greece follows at 28%, and Romania at 27%. Lithuania and Spain each report 26%, while Latvia stands at 25%. Italy records 23%, Estonia 22%, and Germany, France and Croatia each match the EU average of 21%. EU Moves to Strengthen Anti-Poverty Measures The figures come as European institutions seek to strengthen...
The Czech Constitutional Court has ruled that income from voluntary sex work is subject to taxation, placing it on the same footing as earnings from other self-employed professions. The decision clarifies that collecting taxes from sex workers does not amount to state approval of the activity. The case concerned a woman who was ordered to pay more than CZK 900,000 in back taxes for income earned from paid sexual services in 2013 and 2014. She challenged the assessment in court, but lower courts upheld the decision of the Czech Financial Administration. She subsequently appealed to the Constitutional Court, Novinky reported. The woman argued that taxing prostitution effectively turned the state into a pimp, pointing to the distinction in Czech law between providing sexual services voluntarily for payment and acting as an intermediary in such activities. While the former is not a criminal offense, procuring or facilitating prostitution in certain circumstances can be punishable under the Criminal Code. The Constitutional Court rejected her argument, ruling that taxation serves a different purpose. According to the judges, the state is not profiting from another person’s labor but ensuring that taxpayers contribute fairly to public finances. The court added that taxation should not be...
Petr Hlaváček is seeking to become the Czech capital’s next mayor after his political movement, STAN, won the municipal elections. STAN received 23.16 percent of the vote, securing 17 seats in the Prague City Assembly and putting the movement in a strong position to negotiate the next governing coalition. Hlaváček, currently deputy mayor for territorial and strategic development, has indicated that he wants to take the top job at City Hall. His priorities include expanding housing construction, redeveloping former industrial sites and improving transport infrastructure. A key role in Prague’s new zoning plan Hlaváček’s main achievement as deputy mayor has been his involvement in preparing Prague’s new Metropolitan Plan, which replaced the previous zoning document from 1999 when it came into effect in September 2026. The plan sets out where construction can take place and establishes rules for future development. It identifies capacity for up to 350,000 new homes, primarily through the redevelopment of brownfield sites. One of the main projects is the transformation of Bubny-Zátory, an underused area expected to provide housing for around 20,000 people. Hlaváček has also backed the Prague Development Company, which manages municipal land and aims to increase housing construction. According to him, the company...
The opposition Mayors and Independents (STAN) party came first in municipal elections in Prague, with 23 percent of the vote. Led by Prague Deputy Mayor Petr Hlaváček, secured more than 23 percent of the vote, up sharply from 7.8 percent four years ago. The party recorded the largest increase among the main political groups contesting the capital’s city council. The Spolu coalition, comprising the Civic Democratic Party (ODS) and TOP 09, finished second with approximately 22 percent. Its result was around three percentage points lower than in the previous election. Praha Sobě, another group led by a serving deputy mayor, also improved its position. Under Adam Scheinherr’s leadership, it won nearly 18 percent of the vote. The ANO movement, the strongest party in the Czech national parliament, finished fourth in Prague after losing support. In 2022, ANO won 19.3 percent of the vote in the capital. This time, it failed to reach 15 percent. The Pirate Party suffered an even steeper decline. After finishing third with 17.7 percent of the vote in 2022, it received just over 9 percent this time, narrowly securing representation on the Prague City Council. The election results set the stage for negotiations over Prague’s next...
Nearly half of people in the Czech Republic spend more than 30% of their net income on housing, while around one in 10 spends more than half. Housing is generally considered financially burdensome when rent, utilities and other related costs exceed 30–40% of household income. The EU average is around 24%. The findings come from a survey by Česká spořitelna and Evropa v datech, conducted with Ipsos among 1,000 respondents in February. Housing affordability remains particularly difficult for young Czechs. Among people aged 18 to 29, 58% live with their parents at least part of the time, while 29% live with friends or a partner. The survey found that 60% of people under 30 who are dissatisfied with their housing situation have postponed a major life decision because of it. For around one-third, this has happened repeatedly. Starting a family is among the decisions affected by housing conditions. Homeowners were considerably more likely to be very satisfied than renters, with 41% of owners describing themselves as very satisfied compared with 18% of renters. Czechia still has the least affordable housing in the EU The Czech Republic improved by six places in this year’s housing conditions ranking, reaching 17th among the...
Czech President Petr Pavel will not vote in next week’s local elections in Černouček, the village in the Litoměřice region where he lives, because he will be abroad on a private trip. The Presidential Office confirmed on Friday that Pavel had left the Czech Republic and would not be able to participate in the municipal elections. The Castle said the president regrets the planning mistake. Pavel is expected to return to his official schedule on October 19, when he will receive newly appointed ambassadors. During his absence, he will remain in contact with the Presidential Office in case a situation requiring his attention arises. A post by Czech rally driver Martin Prokop has linked Pavel to the Rallye du Maroc. Prokop shared a photograph with the president and wrote that Pavel had visited the event. The rally is taking place in Morocco from September 28 to October 3. According to Czech media reports, Pavel’s private trip is a motorcycle holiday. The Presidential Office itself has not confirmed the location of the trip. The timing of the trip is notable because Pavel himself formally set the dates for this year’s elections in June. Under recently amended electoral rules, local and regional...
Pegasus Airlines has completed its acquisition of Czech Airlines and the Smartwings Group, marking a major change in the ownership of one of the Czech Republic’s most established aviation businesses. The Turkish low-cost carrier announced the completion of the transaction on Thursday, October 1, following the approval of the relevant regulatory authorities and the fulfilment of the required closing conditions. The deal brings together Pegasus Airlines and the Czech-based Smartwings Group, creating an aviation group with a combined fleet of more than 175 aircraft. The two airlines also have firm orders for a further 140 aircraft. For passengers in Prague and across the Czech Republic, Smartwings will continue to operate under its existing brand. Its day-to-day operations, customer relationships and service are expected to remain in place, while the company will gain access to new opportunities for expansion and development through its new ownership. Pegasus expands further into Central Europe Founded in 1990, Pegasus Airlines has operated as a low-cost carrier since 2005. The airline currently serves 161 destinations in 57 countries from its main hub at Istanbul Sabiha Gökçen Airport and other bases in Türkiye. Its network covers Europe, the Middle East, North Africa and Asia, making the acquisition...
All eyes are on Thailand as the country prepares to host the 2026 International Monetary Fund (IMF) and World Bank Group (WBG) Annual Meetings, also known as the 2026 Annual Meetings or AM2026 Thailand. Running from 12-18 October 2026, at the Queen Sirikit National Convention Center (QSNCC) in Bangkok, the event will mark Thailand’s second time hosting the meetings, following its first in 1991. This will make Thailand one of only three nations to have hosted the IMF–WBG Annual Meetings twice. The IMF–WBG Annual Meetings, held for two consecutive years in Washington D.C. and every third year in one of the 191 member countries, serve as a gathering of top economic figures from around the world. By covering a broad range of issues, the meetings aim to strengthen global financial stability, combat poverty, and ensure inclusive economic growth and job creation. Thailand’s selection to host again in 2026 highlights how the country has advanced over the past three decades in terms of its institutional progress, economic resilience, and sustained engagement with international partners. As host, Thailand brings decades’ worth of experience in economic transformation and regional leadership to the table. The “Olympics of Finance” Often dubbed the “Olympics of Finance,”...
Czech President Petr Pavel has warned that NATO may eventually need to shoot down Russian aircraft or drones that deliberately violate the alliance’s airspace. Speaking to Fox News Digital in New York during the U.N. General Assembly, Pavel said Russia was testing NATO’s readiness and could interpret continued restraint as a sign of weakness. “There might be the time when we will have to shoot down some of these planes or unmanned vehicles that are testing our readiness,” Pavel said. Pavel said the alliance needs to distinguish between accidental airspace violations and deliberate incursions in which an aircraft ignores warnings to leave. “If it is deliberate and the violator doesn’t respond to our measures, then we will have to act, because otherwise Russia simply would push further on,” he said. His comments came after a series of incidents involving Russian aircraft and drones near NATO territory. On Wednesday, a Russian Mi-8 military helicopter briefly entered Polish airspace after crossing from the Kaliningrad region. According to Poland’s Armed Forces Operational Command, the helicopter travelled around 300 metres into Polish territory and remained there for 42 seconds. On Thursday, Romania also scrambled two F-16 fighter jets after an unidentified aerial target entered...
EU citizens living in Czechia can vote in the country’s municipal elections this October, but those who are not already registered will need to take action before election day. The elections will take place on October 9 and 10, with voters in Prague choosing representatives for both the Prague City Assembly and their local municipal district. EU citizens aged 18 or over who have permanent or registered temporary residence in Czechia can vote in municipal elections. However, they must be registered in the relevant electoral register. Registering to vote The deadline for registration is October 7, but the civic initiative Volby pro všechny recommends registering as soon as possible. Its EU Voter Registration Tool generates the necessary application form and explains how to submit it to the relevant municipal or district office. Registering early also means voters should receive their ballot papers at home before election day, giving them time to understand the unfamiliar Czech voting system. Those who register closer to the deadline will receive their ballots at the polling station. There is also an important option for those who miss the registration deadline. According to Volby pro všechny, EU citizens will have a special possibility this year to...
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