Czech Business News
Important news from the current economic life of the Czech Republic.
Articles
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Nanotechnology Makes Advances in the CR
21/04/2012Source: BusinessInfo.cz
More than 230 entities in the public and private sectors are already engaged in the area of nanotechnology in the Czech Republic. And the interest in this cutting-edge sector of the future is rising, especially among companies. They see in it the chance to leave their competitors behind, and are beginning to use industrial applications of nanotechnology, especially in the manufacture of nano materials.
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New International Centre for Applied Medical Research
21/04/2012Source: BusinessInfo.cz
A new international research and educational centre focused on Cardiology and Neurology is being built in Brno with financial assistance from the European Union. The Centre, which will cost CZK 4.5 billion (approximately EUR 180 mil. or USD 240 mil.) to build and operate for the first 10 years, is a strategic project of the Czech government and will be fully operational in late 2012/early 2013, although the majority of research and educational programmes have already started.
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Competitiveness of Information and Communication Technologies in the CR
20/04/2012Source: BusinessInfo.cz
The Czech Republic, just as other countries, could not stay unaffected by the current economic problems provoked by growing uncertainties of the financial system and the subsequent global economic difficulties. Disregarding the fact that, according to the estimates of the Ministry of Finance of CR, the efficiency of the Czech economy in 2011 increased by 1.8 per-cent , in 2012 it is expected to be stagnant, with only a moderate 0.2 per cent GDP growth.
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Reducing administration is an absolute necessity
19/04/2012Source: BusinessInfo.cz
Minister of Industry and Trade of the CR Martin Kuba explains how the Ministry wants to help entrepreneurs decrease the excessive administrative burden, what are the objectives of the Export strategy and how the Ministry sees the domestic power industry in 30 years.
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Economy Still Driven by Exports, Uncertain Development in 2012
18/04/2012Source: BusinessInfo.cz
2011 was a year of escalation of the European debt crisis. Besides peripheral countries such as Greece, Ireland, and Portugal, states important for the system, such as Italy and Spain, also faced debt problems on governmental level. The crisis of European government bonds started to negatively affect the health of the European financial sector and subsequently also the growth performance of the eurozone, our number one trade partner.
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Macroeconomic Forecast April 2012
14/04/2012Source: Ministry of Finance
The Financial Policy Department of the Czech Ministry of Finance publishes quarterly macroeconomic forecasts containing forecasts for the current and the following years (i.e. till 2013) and outlooks of some indicators for 2 years (i.e. till 2015).
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Czech Cities and Regions Rank Highly in Support for Foreign Direct Investment
09/04/2012Source: Business and Investment Development Agency (CzechInvest)
According to the European Cities and Regions of the Future 2012/2013 ranking compiled by the prestigious British fDi Magazine, Czech cities and regions are very well positioned in terms of supporting foreign direct investments. Brno, Ostrava and Cheb ranked in the top ten Eastern European cities with the best investment support.
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A new cooperation in the field of nanofibres
02/04/2012Source: Business and Investment Development Agency (CzechInvest)
A new cooperation between the Czech company Nafigate and the National University of Singapore will develop next generation green packaging materials that allow more environmentally-friendly medical, food, and beverages packing.
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Major Amendment to the Public Procurement Act
01/04/2012Source: BusinessInfo.cz
A far-reaching amendment to the Public Procurement Act (act No. 55/2012 Coll.) came into force on 1 April 2012. It is the result of several years of legislative efforts, and comprises a complete overhaul of existing public procurement concepts, but it has also introduced completely new institutions.
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Toll payments in 2012
25/03/2012Source: Ministry of Foreign Affairs
From 1 January 2012, the toll payments on motorways, expressways and selected class 1 roads will newly apply for vehicles weighing more than 3.5 tons in the emission classes Euro 0 to Euro IV. As for vehicles within the emission class Euro V and higher, the toll stays the same as in 2011. The price of the motorway coupons for vehicles under 3.5 tons has also been increased.
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New Tax Reform in the CR
24/03/2012Source: Ministry of Foreign Affairs
The tax reform adopted by the Czech Parliament in autumn 2011 amends key tax, insurance and other legal norms in the Czech legislation. In total, it concerns seventy acts and regulations. The tax reform becomes valid on 1 January 2012 but it will be effective from 1 January 2014.
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Singapore Opens up to Innovative Czech Firms
23/03/2012Source: Business and Investment Development Agency (CzechInvest)
CzechInvest in cooperation with other partners have started to operate the CzechAccelerator 2011-2014 in Singapore. Companies doing business in ICT, biotechnology, life sciences and other fields have a new opportunity to penetrate the Southeast Asian market with their products and services thanks to the Singapore branch of CzechInvest - CzechAccelerator 2011-2014 programme which was ceremoniously opened on 22 March, 2012.
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CR Export Strategy for 2012 - 2020 Approved
22/03/2012Source: Ministry of Industry and Trade
The Czech government approved the Export Stragegy of the Czech Republic for the 2012 - 2020 period which should open new markets and provide exporters with a state support. The document was created in cooperation with the Chamber of Commerce of the CR and the Union of Industry and Trade of the CR.
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Czech industry minister calls changes at telecoms watchdog
21/03/2012Source: BusinessInfo.cz
The Czech Minister of Industry and Trade has called for a far reaching shake up the way the country under fire telecoms regulator performs in order to bring down phone charges for citizens and companies.
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Prague Hosted the Czech-American Innovation Conference
20/03/2012Source: Business and Investment Development Agency (CzechInvest)
The Czech Republic had a unique chance to demonstrate its innovation potential and present itself as a country where it pays to invest. Such an opportunity was a conference called The U.S. - Czech Innovation Conference: Exploring the Innovation Opportunity held on March 5-6, 2012 as a part of the Czech-American Technology Days at Lichtenstein Palace in Prague. It was attended by representatives of various institutions, universities and compenies from the CR and the United States.
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The Czech Government Wants to Achieve Balanced Public Budgets
19/03/2012Source: BusinessInfo.cz
According to the OECD November report, the Czech Republic is a stable and successful economy with a good reform programme. In spite of this, the organisation`s estimate is that next year the Czech economy will slow down its growth to 1.6 from this year`s 2.1 . To learn more about the current economic situation of the Czech Republic, Miroslav Kalousek will answer the following questions:
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Czech Nanotechnology Firms Penetrate the Japanese Market
13/03/2012Source: Business and Investment Development Agency (CzechInvest)
The Nano tech 2012 international trade fair, which took place in Tokyo on 15-17 February 2012, has brought forth new cooperation opportunities for Czech firms and confirmed the strong position of Czech nanotechnology in the world. For the first time, Czech companies and institutions exhibited in a dedicated Czech pavilion at Nano tech, one of the world`s most important events in the area of nanotechnology.
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What is the travel allowance entitlement for employees?
01/03/2012Source: BusinessInfo.cz
In the wake of the amendment to the Labor Code, changes have come into effect as of 1 January 2012 which affect the calculation of payouts for self-catering as a part of the travel allowance to be paid on domestic and foreign business trips.
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Export Strategy 2012-2020: new markets and effective services for Czech exporters
22/02/2012Source: Ministry of Industry and Trade
Opening new markets for Czech exporters and the provision of smart services by the state are the main objectives of the new Export Strategy of the Czech Republic for 2012-2020. The strategy places particular emphasis on the implementation of positive changes in the Czech economy, supporting export with high added value and pushing Czech exporters closer to final customers in the value chain.
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Accelerated procedure for transfers of posted employees
21/02/2012Source: Ministry of Industry and Trade
The Ministry of Industry and Trade, in cooperation with the Ministry of the Interior, the Ministry of Labour and Social Affairs and the Ministry of Foreign Affairs, has prepared the project ??ccelerated Procedure for Intercompany Transfers of Employees of Foreign Investors??which will speed up the transfer of highly qualified and management employees (specialists and managers) from third countries temporarily posted to the Czech Republic within a company.
