In late February 2020, the Prague Stock Exchange had the worst slump in the record since the June 2016, Brexit referendum. The PX index declined by 2.81 percent on February 26, its lowest since October 2019. The Czech stock market’s worst performance in years was brought on by increasing global anxiety over the spreading coronavirus epidemic already ravaging Europe. Luxury and tourism shares were first in the line of fire and were soon followed by mining and automobile shares. On February 25, because of a privacy scandal, the shares of Avast, fell by 3.2 percent wiping out close to one-fifth of the software maker’s value and dragging the PX Index to new lows. The Prague Stock Exchange has been facing years of waning interest from traders, rights issuers, investors, and analysts. The central European country has a risk-averse citizenry and an underdeveloped pension fund. Consequently, there is a lower demand for equities. Businesses in the Czech Republic also prefer to finance their operations and expansions through debt rather than share sales. For this reason stocks investment in this landlocked country has shrunk by 77 percent in the last decade. Prague more than ever needs more IPOs to bring in more...
Czech Senate President Milos Vystrcil and his delegation landed at Taipei Taoyuan International Airport at 11 a.m. on Sunday (Aug. 30), kicking off the highest-level and highest-profile visit to Taiwan by Czech government officials in the history of the countries’ bilateral relations. Vystrcil will deliver a speech in Taiwan’s parliament and meet President Tsai Ing-wen during a five-day trip described by Taipei as standing up to “the intimidation of authoritarian China”. “The aim of this trip is to show that the Czech Republic is a free, sovereign and democratic country, and our parliamentary diplomacy, in particular the Senate, wants this country to act as Vaclav Havel and [Foreign Minister] Jiri Dienstbier set out. This means defending our democratic principles and sovereignty. At the same time, to try to work together with all democratic countries, regardless of what anyone else wants us to do,” the senator said at a press conference before his trip. Beijing views Taiwan as its own territory — vowing to one day seize it by force if necessary — and bristles at any moves by foreign governments to recognize or conduct official exchanges with Taipei. “Such a visit is deliberately undermining the political foundation between China and...
Czech President Milos Zeman has been discharged from hospital on Saturday, where he underwent hand surgery after an injury on Wednesday night. Zeman broke his right arm on Tuesday night after falling. “In the evening, the president watched television news and after the end, he did not use the support in the form of a stick nor the help of security, he tripped and broke his right arm,” said Zeman’s spokesman, Jiří Ovčáček. At the beginning of September, the Castle planned a presidential visit to South Moravian Region as Zeman was to start the school year at an event at a secondary school in Rajhrad. “We will solve that next week,” said Ovčáček, however, he is rather skeptical about making a three-day visit to the region. “It’s not even a general state of health, but of course if you have a broken arm and it is fixed, it causes discomfort,” the spokesman said, adding that convalescence is now a priority. Zeman has been President of the Czech Republic since 2013. His health has been a frequent topic of media speculation, especially in the run-up to his reelection as president in 2018. Zeman, 75, suffers from a nerve condition in his...
The Czech government has approved the creation of a fund to help Belarusians affected by the restrictions of President Alexander Lukashenko’s regime. The Czech Republic will set aside CZK 10 million korunas for this purpose from this year’s budget of the Ministry of Foreign Affairs. The money will be used to help persecuted people, treat the injured, and support independent media. “The priorities at the moment are, in particular, the support of independent media. There is a need to ensure that citizens in Belarus have access to independent information. It is generally a support for civil society,” said the Minister of Foreign Affairs Tomáš Petříček. “In practical specific areas, it is legal assistance to people who have lost their jobs because they have reported how elections have been manipulated, legal aid for journalists exposed to persecution, psychotherapeutic assistance to people who were arrested and, according to all testimonies, were subjected to torture by the local authorities, “said Petříček about the use of the money before a government meeting on the topic. The Czech Republic also intends to provide medical care for Belarusians in Czech hospitals. “The Ministry of the Interior will coordinate the selection of persons, cover the costs of admission...
Daniel Křetínský, the billionaire known as the Czech Sphinx, has quietly become the largest shareholder in Royal Mail, heaping more pressure on the troubled postal service as it faces calls for a break-up. Křetínský, who owns Sparta Prague football club and who made his fortune in energy, has amassed a CZK 7,4 billion stake in the historic FTSE250 company. The company is seen as particularly vulnerable to a break-up because it has been without a permanent chief executive since May when it ousted former boss Rico Back, who had overseen a decline in letter volumes and a breakdown in relations with unions. Křetínský has been slowly building his stake and now owns more than 13 percent of Royal Mail. The Czech businessman, who controls Vesa with his business partner Patrik Tkac, made his fortune in energy in Eastern Europe. His company EPH then embarked on a major expansion, snapping up energy transmission networks and gas pipelines, as well as power plants in the UK. EPH now owns four UK power plants: Eggborough in North Yorkshire, Lynemouth in Northumberland, Langage in Devon, and South Humber Bank in Lincolnshire. In March, the company also bought an underground gas facility in Hampshire. And...
Czech President Milos Zeman was hospitalized on Tuesday after an arm injury and he will undergo surgery, the president's spokesman said.
The Czech government has extended its job support program for coronavirus-hit companies until the end of October, Labour Minister Jana Malacova said on Monday. The job furloughing scheme, together with direct compensation payments to the self-employed, represent the two biggest chunks of the government’s effort to help the economy hit by the global pandemic. “(The government’s scheme) Antivirus (was) approved until the end of October,” Malacova said on her Twitter account. In the two main legs of the Antivirus program, the Labour Ministry has paid out 17.3 billion crowns as of Aug. 24, data on the ministry’s website showed. “There are still companies that need help. But nothing lasts forever and we are mainly fine-tuning a permanent kurzarbeit to help in a crisis whenever needed. Like there is in Germany,” Malacova said. Under the Czechs’ kurzarbeit scheme, companies get compensated for part of their workers’ salaries, enabling them to reduce the workload in order to save funds during the crisis. A permanent program could be implemented as of next year. The Czech economy is expected to shrink by 8% this year, according to central bank forecasts. The main hit came in the second quarter when the economy ground nearly to...
Monday, August 24: to mark the anniversary of the Baltic Chain, as well as a sign of solidarity with the protests all over Belarus, citizens from Belarussia, Lithuania, Estonia, and Latvia gathered on the Charles Bridge to form a human chain. Baltic Chain Story Three Baltic countries – Estonia, Latvia, and Lithuania – demonstrated their solidarity in their quest for independence by forming a human chain on August 23, 1989. Approximately 2 million people joined their hands that day. The extraordinary event drew global attention and finally led to the Baltic States regaining their independence. The human chain spanning over 600 kilometers was registered in The Guinness Book of Records. Follow Bradley Stafford on Instagram fom more pictures! xosotin chelseathông tin chuyển nhượngcâu lạc bộ bóng đá arsenalbóng đá atalantabundesligacầu thủ haalandUEFAevertonfutebol ao vivofutemaxmulticanaisonbetbóng đá world cupbóng đá inter milantin juventusbenzemala ligaclb leicester cityMUman citymessi lionelsalahnapolineymarpsgronaldoserie atottenhamvalenciaAS ROMALeverkusenac milanmbappenapolinewcastleaston villaliverpoolfa cupreal madridpremier leagueAjaxbao bong da247EPLbarcelonabournemouthaff cupasean footballbên lề sân cỏbáo bóng đá mớibóng đá cúp thế giớitin bóng đá ViệtUEFAbáo bóng đá việt namHuyền thoại bóng đágiải ngoại hạng anhSeagametap chi bong da the gioitin bong da lutrận đấu hôm nayviệt nam bóng đátin nong bong daBóng đá nữthể thao...
During an interview for the quarterly magazine Harvard International Review, PM Babiš replied to a question regarding the Czech Republic adopting the euro. “The Czech Republic is ready to enter the eurozone. But in this situation, when we expect some reforms to EU governance, we choose to wait. The euro is more of a political than an economic project,” Babis said. “Besides that, we are now seeing serious structural challenges that are potentially very dangerous: tensions between the prosperous northern members of the EU and the stagnating south were clearly visible during the post-pandemic recovery package negotiations. And while the 19 states of the eurozone have a common currency, they still have different economic approaches and follow different budget strategies,” he added. “No one has the power to force heavily indebted countries to act more reasonably. That is the main problem that must be urgently solved. Still, the fact that we criticize some aspects of the EU integration process does not mean that we are against the idea of European integration in general. Constructive criticism in the post-Brexit EU is necessary” Babis concludes. According to the Eurobarometer, support for the euro in the Czech Republic stands at 33% (the lowest among...
Czech Prime Minister Andrej Babiš on Friday called for the presidential election in Belarus to be rerun with independent monitoring
Industrial production in the Czech Republic slowed its year-on-year decline to 11.9 percent in June, from 25.7 percent in May. The recovery of car production significantly contributed to a better result. In a month-on-month comparison, June’s industrial production was higher by 13.4 percent. According to Czech statisticians, the situation in the industry began to slowly stabilize in June after a previous slump caused by the coronavirus crisis. “In a number of industrial enterprises, production gradually began to return to pre-pandemic levels,” said Radek Matějka from the Czech Statistical Office. Compared to May, industrial production was encouraged by the resumption of car production, which also helped manufacturers of parts for the automotive industry. The construction industry in trouble On the contrary, worse and worse numbers keep coming from the construction field. In June, construction output fell by 11.5 percent year-on-year in real terms, after a 7.7 percent decline in May. Once again, building construction has deteriorated, including the construction of apartments, offices, and warehouses. Compared to previous months, civil engineering works also recorded worse results, including mainly transport infrastructure. If you are looking for a job in Prague, check our new job section here Time to move to a...
Fairs, festivals, and other arts events have been hit hard by COVID-19. Now the Czech government is offering CZK 900 million in grant money to help support events that keep the Czech culture alive. The Czech Ministry of Industry and Trade has allocated CZK 900 million to support entrepreneurs involved in organizing cultural events (theaters, cinema, concerts, festivals, musical clubs, independent artists, museums, galleries, etc.). They can claim a partial (up to 50%) reimbursement of their expenses for canceled or rescheduled events. Arts and Cultural organizations can start applying for financial assistance from August 18 to September 18 through the site www.mpo.cz/kultura. The maximum amount for one-off payment is CZK 5 million. “The goal of the program is to assist cultural entrepreneurs and support them for the costs incurred between October 1, 2019 and May 17, 2020, for events that were supposed to take place from March 10 to October 31, 2020, but were canceled or postponed due to the quarantine measures adopted by the government,” the Ministry of Industry and Trade states. The Czech music industry employs roughly 130,000 people and has an annual turnover of CZK 20 billion, and is now operating at 15 percent capacity. “The music...
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