The United Nations General Assembly elected the Czech Republic to the Geneva-based Human Rights Council on Tuesday to replace Russia, which was suspended last month over its invasion of Ukraine and then immediately quit the 47-member body. Russia had been in its second year of a three-year term. The Czech Republic will complete that term on the council, which cannot make legally binding decisions. Its decisions carry political weight, however, and it can authorize investigations. The Czech Republic was elected with 157 votes in favor, while 23 countries abstained. Its terms start immediately. The Human Rights Council is due to hold a special session on Ukraine on Thursday, an official said on Monday, after Kyiv called for a review of the situation there, including reports of mass casualties in Mariupol. Czech Foreign Minister Jan Lipavský said he was very happy about the result of the election and thanked UN member states for their trust and support. The United States led the rare push to suspend Russia after its Feb. 24 invasion of Ukraine, which Moscow calls a “special military operation.” Libya was suspended from the U.N. Human Rights Council in 2011 over violence against protesters by forces loyal to then-leader...
Unemployment in the Czech Republic fell by one-tenth of a percentage point month-on-month to 3.3 percent in April. The exact unemployment rate in the Czech Republic varies due to different metrics and classifications, but nonetheless is still one of the lowest on the continent. The latest estimate from the Czech Statistical Office, which counts labor-force sample surveys, put unemployment at 3.3 percent in April. The number of unemployed people across the EU is falling — down from 7.5% in January 2021 to nearly 6.2% in January 2022 — as economies recover from the COVID-19 pandemic. A spokesperson for the Czech Ministry of Labor and Social Affairs said the unemployment rate is indeed “very low” and no significant changes are expected in the near future. “At the same time, however, we have hundreds of thousands of available jobs,” the spokesperson said. “People who want to work can still find a suitable job in the Czech Republic.” Over 344,000 jobs were offered by employers in the Czech Republic in April, which was a fall of roughly 16,000 in March. Nearly 244,000 people were out of work last month, according to official data released on Monday. Europe The eurozone unemployment rate was 6.8%...
The Czech Republic will seek an exemption period to the European Union’s proposed embargo of Russian oil, gaining time for pipeline capacities to be increased, Prime Minister Petr Fiala said on Wednesday. “We are ready to support this decision (on sanctions including oil), given the Czech Republic will have some postponement until capacity is increased in oil pipelines which can deliver oil to the Czech Republic,” Fiala said. “We are trying to get that postponement for two, maybe three years.” The European Commission on Wednesday proposed a phased oil embargo on Russia, along with other tough measures to punish Moscow for its invasion of Ukraine. The measures include phasing out supplies of Russian crude oil within six months and refined products by the end of 2022. The Czech Republic has been seeking an increase to the capacity of the TAL pipeline – running from Italy via Austria to Germany – which is waiting for approval by Bavarian authorities. Fiala said he would debate the issue with German Chancellor Olaf Scholz during a visit to Berlin on Thursday. The Czech Republic joins others EU countries seeking a longer transition to introduce the ban. Slovakia, which gets nearly all its crude imports from Russia, wants a...
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...
This MoU presents a unique opportunity for the capital to present its own priorities to the rest of Europe. The city will organize the events either alone or in cooperation with its external organizations and partners. “Prague wants to show that it is focused and will continue to focus on ambitious climate policies leading to increased energy self-sufficiency, smart solutions, culture, education, science and innovation. The presidency is also an opportunity for us to remind ourselves of the concrete benefits of EU membership for the people of Prague,” Mayor Zdeněk Hřib said. During the presidency, the capital will organize and/or support many cultural and educational events or political meetings, conferences, or summits. At the turn of June and July, for example, a week-long public educational event will take place in honor of the opening of the Czech presidency (discussions, presentations of EU-funded projects, etc.) or joint events with Paris, the capital of France, after who the Czech Republic will take over the presidency. The plan is to connect experts and artists from Prague and Paris: the topic will be, among other things, upcycling and sustainable fashion and design. In July, the prestigious COTER (Commission for Territorial Cohesion Policy and EU Budget) meeting will take place in Prague. In September, the city plans to host a direct dialogue of European...
The Czech foreign minister’s three words of advice to the Biden administration are to send “weapons, weapons, weapons” to Ukraine from American and western arsenals so Kyiv is not relying on leftover Soviet Union stockpiles. “U.S. industry and [the American] Army play a key role” in “weakening Russia” and setting the stage for Ukraine’s victory in the war now entering its third month, Jan Lipavsky said Tuesday at an online Atlantic Council forum. Ukrainian armed forces have proven they can effectively “use highly efficient drones … to help artillery” destroy Russian targets and also use anti-air systems, including Stinger missiles, to prevent Russian dominance of the skies, Lipavsky said. He added that training times for proficiency could be reduced under the pressures of combat. Lipavsky admitted that “there may be issues” with Soviet-era equipment shipped from the Czech Republic and Poland to Ukraine. To correct the problems, he said Prague “is helping with repair work” so the armor can be fielded quickly, as Moscow shifts its forces eastward. Prague has also shipped multiple launch rocket systems, artillery and armored personnel carriers to Kyiv since the Russians attack. “Honestly, I think our [NATO’s and the European Union’s] policy decisions were right” to...
There are different assessments about the impact of a Russian gas cut to the Czech Republic, but with the country receiving nearly all of its gas from Russia, the results could be dire. “When someone says to shut down the valves with Russian gas, they have no idea what they are talking about. I do not wish a return to Middle Ages unto anyone,” said former Prime Minister Mirek Topolánek, According to Topolánek, the Czech Republic could not quickly make up for the Russian gas. The Czech Republic is 98 percent dependent on Russian gas, compared to just 31 percent for Poland. The consequences of Russia stopping the deliveries would thus be destructive for both households and businesses. In Topolánek’s view, the Czech Republic could not depend on Germany or countries in south-eastern Europe either, as those would have to cover their needs first. The current prime minister, Peter Fiala, offers a slightly more sanguine outlook, saying yesterday that if Russia ceased its gas supplies to the Czech Republic, the country would manage the situation for some time but would then need help from the European Union, according to Czech news outlet Idnes. “We can deal with this for some...
Rohlik Group posted a 53% year-on-year rise in net revenue to 490 million euros in its past fiscal year, the company said on Wednesday, as the Czech-based online grocery delivery firm builds on a European expansion push. The group, founded in 2014 by entrepreneur Tomas Cupr, will end its fiscal year to April with more than 1 million customers, it said, after launching operations in Germany last year, adding to existing markets in the Czech Republic, Austria and Hungary. It plans to start in Italy, Romania, and Spain in 2022, as well as to further expand in Germany. Rohlik, like other online grocery or delivery groups, has benefitted from the faster shift to online shopping brought by the COVID pandemic, while it has also boosted fundraising and investments into automation at its centres to aid expansion. “We are pleased not to see a post-pandemic softening or a slowdown in growth,” Cupr said. “Not only is our core Czech market EBITDA profitable since 2018, all of our four existing markets are on a path to be contribution profitable in the upcoming fiscal year,” he said, referring to earnings before interest, tax, depreciation and amortisation. Rohlik raised 100 million euros in its...
U.S. Secretary of Defense Lloyd J. Austin III hosted an enhanced honor cordon yesterday, welcoming Czech Defense Minister Jana Černochová to the Pentagon. Černochová has confirmed the Czech Republic’s intention to sign the Defense Cooperation Agreement with the United States. “We believe that the [agreement] will deepen our mutual cooperation not only as NATO allies but at the same time in the fielding of our armed forces modernization efforts,” she said, noting that her country wishes to replace its obsolete Soviet-era equipment with modern military hardware. The Soviet-era military equipment is now being put to good use as the Czech Republic has been sharing it with Ukraine, which is familiar with its use, she said. “The Czech Republic is ready to send more military equipment to Ukraine,” she added. Cernochova said that she would also like to sign the reciprocal Defense Procurement Agreement that will enable the Czech defense industry to participate in U.S. defense procurement programs. The defense minister said that although her country has about 10 million people, the Czech Republic has taken in around 300,000 Ukrainian refugees. Černochová said the Czech Republic will fulfill its pledge to reach 2% of its gross domestic product in defense spending...
Czech diplomat Tomáš Hart, who was expelled from Russia this week, was contacted by the Russian secret service with an offer of cooperation, the websites Respekt.cz and Deník N reported, citing the diplomat himself. The Russians also threatened another Czech diplomat in Russia before deporting him. “We know about your family situation,” an FSB agent told a Czech diplomat on the street. Mr. Hart was invited to a meeting in Moscow. According to the Czech Foreign Ministry, it was a clear attempt to recruit co-workers for espionage. On March 30, the Czech Republic decided to expel a diplomat from the Russian Embassy in Prague out of the country, to “lower the Russian intelligence presence in the EU“. According to Deník N, the embassy worker in question was the deputy ambassador Feodosyi Vladyshevsky. Diplomatic relations between the Czech Republic and Russia have been strained for some time. Last spring, the Czech Republic expelled 18 Russian embassy staff following revelations by the intelligence services that GRU agents were behind the 2014 munitions explosions in the Vrbětice munitions depot in the Zlín region, in Moravia. The Czech Republic also became the first country to send tanks to Ukraine, specifically a dozen T-72 tanks...
The cost of living crisis is only getting worse in the Czech Republic. Only the Baltics are a little worse off with regards to the rate of inflation. The cost of living crisis in the Czech Republic is rising rapidly with the growth of inflation to almost 13 percent almost certainly not yet over. Due to the recovery from the pandemic and the Russian invasion, most economies are suffering, but Czechia is an exception. Almost nowhere are prices rising as fast as in this country — only the Baltics are a little worse off. There are several reasons for this. “High inflation in the Czech Republic consists of several parts,” Unicredit Bank’s chief economist Pavel Sobíšek explained. “One is the lowest unemployment rate in Europe, combined with wasteful fiscal policies that have pushed inflation up before the pandemic. “The common characteristic of the countries of Eastern Europe is a larger share of energy and food in the market basket compared to wealthier countries, which leads to higher inflation,” he added. According to economist Radim Dohnal from the Capitalinked company, the cause is wage inflation in recent years due to low unemployment and energy prices in recent months, which is related to the low share of renewable energy sources...
Annual inflation in the Czech Republic reached 12.7 percent in March, up from 11.1 percent in February, according to data released by the Czech Statistics Office. Consumer price growth was thus the highest since May 1998, when it reached 13 percent. Fuel prices in March climbed by 50 percent year on year. Consumer goods are up by 1.7 percent compared to the previous month. Inflation is expected to rise further and may hit 15 percent in mid-2022. The outlook for the immediate future is not too encouraging, according to Vít Hradil, the chief economist at Cyrrus. “Oil and especially natural gas, due to the ongoing conflict in Ukraine, remain at high prices, which will be credited into the accounts of an increasing number of Czech households as their periods of fixation run out,” he explains. “We are counting on food and other energy increases to bring inflation between 14-15% by the middle of this year, and the downward trend will be very gradual,” adds Jan Bureš, chief economist at Patria Finance. Prices of electricity rose by 24.7 percent year-on-year, natural gas by 37.7 percent, products, and services for ordinary maintenance and repairs of buildings by 16.4 percent. Czechs had to...
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