Politics & Economics

Czech Billionaire Petr Kellner Buys TV Nova

PPF Group announces that its fully-owned subsidiaries have signed an agreement with Central European Media Enterprises Ltd. to acquire Central European Media Enterprises (CME). CME has announced that the cash transaction is valued at approximately 2.1 billion US dollars. CME operates television stations in Bulgaria, the Czech Republic, Romania, Slovakia, and Slovenia. Petr Kellner commented on the transaction: “The acquisition of CME with its media assets in five European countries will complement and further strengthen our telecommunications operations in Central and Eastern Europe. We want to leverage the natural synergies between the creation of content and its distribution with the objective of further developing our telecommunications and media businesses. CME is a healthy and well-run organization and we do not intend to make any significant changes to its operations.” Kellner’s PPF owns assets ranging from lenders to real estate and telecommunications in Europe and Asia, including Czech telecom operator O2 Czech Republic and global consumer lender Home Credit. About PPF Group PPF Group invests in multiple market segments such as financial services, telecommunications, biotechnology, real estate and mechanical engineering. The reach of PPF Group spans from Europe to North America and across Asia. PPF Group owns assets exceeding EUR 45 billion (as of December...

by Prague Morning Oct 28, 2019

Škoda Most Sustainable Company In Czech Republic

The auto firm Škoda has been named as the Czech Republic’s most sustainable company in an evaluation carried out by the national government. Škoda has been a sustainable and responsible business since its foundation in 1895. Every year, the company invests millions of Czech crowns in charity and social projects. When carrying out the evaluation, the government also took into account cooperation with local companies and NGOs, regional impact, innovation, community care, and volunteering. An example highlighted by the government is the Škoda Auto University, founded in 2000, which remains the only company university in the Czech Republic. “We are changing the government’s relationship with investors,” said Deputy Prime Minister and Minister of Industry and Trade Karel Havlíček. “Instead of restricting and raising taxes, we motivate them to invest in developing and supporting the environment around them. That is why we recently established the National Development Fund and therefore we appreciate the most responsible investors, the most respectful of the environment and the ones with the largest social impact.” 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...

by Prague Morning Oct 26, 2019

Czech Republic Ranked World’s 20th Most Reputable Country

The 2019 Country RepTrak® study was conducted in March and April by Reputation Institute, a global technology-driven provider of reputation measurement and management services. To determine the list, RI surveyed more than 58,000 individuals in just seven countries, Canada, France, Germany, Italy, Japan, Russia, the United Kingdom, and the United States, during the period from March to April 2019. The 55 countries considered were those with the greatest gross domestic product and those that were familiar to at least 51% of the population of the G8 countries. “Reputation determines whether people support a country through their behaviors. A good reputation means more exports, more investments, more people coming to visit,” the RI’s Nicolas Georges Trad told Forbes. Sweden took the top spot for the second year in a row, largely thanks to its universal healthcare system, eco-friendly policies and commitment to gender equality. Sweden was followed by Switzerland, Norway, Finland, and New Zealand rounding out the top five. The Reputation Institute’s 10 Most Reputable Countries for 2019 are: Sweden Switzerland Norway Finland New Zealand Canada Denmark Australia Netherlands Ireland 2019 Country RepTrak Highlights Five countries made it into the “excellent” tier of country reputation – Sweden, Switzerland, Norway, Finland and New Zealand. Six of the top...

by Prague Morning Oct 18, 2019

Czech Republic Ranks 32nd Most Competitive Economy in the World

The Czech Republic has been crowned the most competitive economy in Central Europe and the 32nd in the world.

by Prague Morning Oct 14, 2019

China Threatens Prague for Canceling Sister-City Ties

Earlier this week, after the city of Prague announced plans to formally terminate its sister-city relationship with Beijing, the Chinese embassy on Wednesday (Oct. 9) sent the City Council a threatening message suggesting that the Czech capital reconsider. Responding to China’s message, the Czech Pirate Party, the third-largest political party in the country and party of Prague’s pro-Taiwan Mayor Zdenek Hříb, released an official statement reaffirming the city’s decision and its opposition to Beijing’s “authoritarian regime.” The Chinese embassy’s initial message called on the Prague City Council to “change its approach as soon as possible, to adapt to current developmental trends, and to return to a path that supports the development of bilateral relations. Otherwise, the city’s own interests will suffer.” The Pirate Party, speaking on behalf of Prague, refused to allow China’s gangster-like attitude to go unaddressed. Beijing demands to respect the so-called one-China policy, which in practice means not talking about Taiwan or Tibet as if they were separate countries. And it definitely means not flying the Tibetan flag, something that Hříb thinks is completely appropriate. Chinese companies own parts of numerous assets in the Czech Republic, including the football club Slavia Prague and the Smartwings airline, which itself...

by Prague Morning Oct 11, 2019

Official: Prague and Beijing to End Sister-City Relations

Prague City Council has decided to cancel its sister-city relationship with Beijing over the latter's unwillingness to re-negotiate wording relating to Beijing’s ”One China Policy" in the partnership agreement.

by Prague Morning Oct 07, 2019

Petr Kellner Remains Richest Czech

The richest Czech remains the owner of PPF investment group, Petr Kellner, with an estimated property worth 350 billion crowns.

by Lidia T. Oct 04, 2019

Tesla Opens its First Store in Prague

Tesla's service centre in Prague’s Vysočany officially opened as part of the Advantage Cars complex.

by Lidia T. Oct 03, 2019

Zero Alcohol Tolerance for Cyclists and Paddlers Confirmed

MPs have rejected legislation that would have allowed cyclists on minor roads or cycle paths or people canoeing on the country’s rivers to have a small amount of alcohol in their blood.

by Lidia T. Sep 26, 2019

The Number of Offices Built This Year is the Highest Since 2014

The number of office schemes built in Prague this year is the highest in the last five years: a total of 17 new buildings providing office space will have opened by the end of the year. The last time the market reached such a high figure was in 2014 – at the time, it was 18 schemes. In the meantime, the number was one-third lower, about 11 buildings on average. Out of the total 17 schemes to be commissioned this year (both completed and slated for completion by the end of the year), six are refurbishment projects and 11 are completely new builds. Again, this is the highest figure in recent years, and again, the last year when there were more new buildings completed was 2014, with 12 schemes. Karlín and Smíchov remain firm favourites The highest number of office schemes – three each – are currently being completed in Prague 5 (ČSOB HQ. II in Radlice, SmichOFF and Green Point near Anděl), Prague 7 (Centrum Stromovka in Letná, Argentinská Office Building and Riveroff Office House in Holešovice) and Prague 8 (DOCK IN THREE in Libeň, Rustonka R3 and Praga Studios in Karlín). With the exception of one project, these are...

by Prague Morning Sep 23, 2019

PM Babiš to Attend UN General Assembly in New York

Czech Prime Minister Andrej Babis will attend in New York this week the United Nations General Assembly. The Czech prime minister said he had a meeting scheduled with Ukrainian President Volodymyr Zelensky on the UN sidelines to discuss bilateral relations. The annual event opens on Tuesday. The Czech government said Babis would address the gathering on Wednesday as a stand-in for President Milos Zeman. The assembly will also be attended by Japan’s new foreign minister, Toshimitsu Motegi, who will be in New York from September 22-28. He said a meeting with his South Korean counterpart was not planned. Ties between the two neighbors soured this year over wartime forced labor. Trade wars, migration, energy supplies, climate change and the eradication of poverty underpin the basic themes of the 193-member General Assembly agenda. The White House said U.S. President Donald Trump on Monday will host a meeting on the Global Call to Protect Religious Freedom and is not scheduled to attend the climate summit. Trump has announced that the United States was ending participation in the Paris Agreement. However, many U.S. states, municipalities, and businesses are continuing to abide by the Paris accord. On Tuesday, Guterres and the president of the 74th session...

by Prague Morning Sep 22, 2019

Quality of Life: the Czech Republic Ranks 24th in the World

This year, the Czech Republic has taken 24th place in the 2019 Social Progress Index. The country climbed two places compared to last year, even though it received fewer points than in 2018. The index is annually prepared by the Social Progress Imperative NGO and Deloitte based on data about the level of social and economic development and the state of the environment. Of the 149 countries which were included in the comparison, Norway came on top while the Central African Republic was last. The Czech Republic achieved the best results in economic indicators and basic human needs, specifically nutrition and basic medical care, water and sanitation, shelter, and personal safety. In contrast, tolerance and inclusion has taken a downward turn in the Czech Republic, ranking it among countries the likes of Botswana. A high score was also achieved by the Czech Republic in respect of access to basic knowledge. “Even the richest countries have weaknesses they have to address. We should be concerned that personal rights indicators are falling. Even in the US”, said Deloitte President Josef Kotrba. “If we compare the four Visegrad countries in the area of personal rights, the Czech Republic is far ahead of Slovakia,...

by Prague Morning Sep 18, 2019