Czech Business News
Important news from the current economic life of the Czech Republic.
Articles
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new Support for Participation in Foreign Trade Fairs
22/01/2012Source: Ministry of Industry and Trade
The Ministry of Industry and Trade will continue to provide support mainly to small and medium sized enterprises who participate in foreign trade fairs. The project called "Joint Participation at Specialised Foreign Trade Fairs and Exhibitions" has already helped more than 1,600 Czech companies and professional organisations and has been realised by the CzechTrade Agency and the Czech Chamber of Commerce since 2010.
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new Inter-Governmental Agreement to Solve Eurozone Crisis
21/01/2012Source: EU Office ČS, a. s.
The European Summit which took place in December 2011 in Brussels is perceived as a breakthrough. The 17 countries in the Eurozone agreed to enter into special fiscal agreements, which should lead to more extensive coordination of economic policies and automatic sanctions for breaching budget rules. Great Britain will not participate in this inter-governmental agreement. The remaining countries are taking time to consider the idea.
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Czech and Slovak Republics Call for More Liberal REACH Directive
19/01/2012Source: EU Office ČS, a. s.
The Czech Republic and Slovakia have cited what they consider excessive regulation of the chemical industry. They argue it could have a negative impact on the European economy and harm small businesses in particular, on whom they argue the regulation places excessive administrative and financial burdens.
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Nine Projects Will Improve Customer Rights in 2012
18/01/2012Source: Ministry of Industry and Trade
The Ministry of Industry and Trade has selected nine projects focused on consumer protection which will be supported by the Ministry in 2012. In addition to direct help to consumers it will focus on testing products, education and cooperation with business associations.
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What Kind of Workers Do Employers Need?
04/01/2012Source: Ministry of Industry and Trade
Companies cannot find qualified staff especially in technical fields. The greatest demand for workers is in technical fields, mainly in the engineering sector. On the other hand, the food industry, transport, and the textiles industry has been recording a decline in the employment rate. These are the key conclusions of a project carried out by the Czech Chamber of Commerce for the Ministry of Industry and Trade.
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A Revolution in the Fight Against Corruption and Organized Crime
29/12/2011Source: BusinessInfo.cz
The Chamber of Deputies has overruled the veto of the President of the Republic, who had denied his signature on the bill for a Corporate Criminal Liability Act. In doing so, the President followed numerous critics of the seminal law, the primary objective of which is the introduction of criminal corporate liability, i.e., making legal entities culpable and punishable for actions and decisions of their owners, management and supervisory bodies (and members thereof), and employees.
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A New Legal Framework For Agreements on the Performance of Specific Work Assignments
27/12/2011Source: BusinessInfo.cz
Effective as of 1 January 2012, a far-reaching amendment will substantially modify the Labor Code. Among other things, the amendment redefines the terms under which so-called agreements on the performance of specific work assignments are made. Concomitant modifications will be made in the relevant laws concerning sick-leave insurance, health insurance, and social insurance. All this will change the playing field for the work assignment agreement, come 1 January 2012.
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Amendment to the Sick-Leave Insurance Act
25/12/2011Source: BusinessInfo.cz
The Czech Parliament has passed an amendment to the Sick-Leave Insurance Act which widens the circle of those who are deemed to draw earnings from dependent employment in the terms of Sec. 6 of the Czech Income Tax Act and who are thus subject to pension and sick-leave insurance.
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Increased participation of Czech companies in investment projects in Russia
17/12/2011Source: Ministry of Industry and Trade
Modernisation and improvement of the competitiveness of the economies of the Czech Republic and the Russian Federation are the main goals of the Joint Declaration on the Partnership for Modernisation signed by Minister of Industry and Trade Martin Kuba and Deputy Prime Minister of the Russian Federation Alexander Zhukov.
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The State Will Help Develop Risk Capital
16/12/2011Source: Ministry of Industry and Trade
To initiate the development of risk capital for some of the smallest, newly established companies, which is practically non-existing in the Czech Republic today - that is the aim of the Ministry of Industry and Trade and its project called the Seed Fund. The main component will be an outright risk capital fund which will invest in good business ideas in partnership with private investors. In addition, the Ministry also wants to establish an entire ecosystem that will support risk capital.
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One quarter of European Funds Already Paid Out to Entrepreneurs
15/12/2011Source: Ministry of Industry and Trade
The Ministry will payout a recording amount of more than 10 billion crowns to entrepreneurs in 2011. Czech entrepreneurs and traders have already received more than 25 billion crowns from the Operational Programme - Enterprise and Innovation. Thus more than one quarter of the entire operational programme, which offers a total of approx. 90 billion crowns, has been paid to their accounts.
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REACH must not undermine company competitiveness in Europe
13/12/2011Source: Ministry of Industry and Trade
REACH places a disproportionate administrative and financial burden, especially on small and medium businesses. Therefore, the Czech Republic and Slovakia called on the European Commission to conduct a detailed assessment of whether REACH, an EU regulation on chemical substances, has met one of its main objectives, which was to increase the competitiveness of the European industry in its planned review of the regulation in 2012.
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Priorities of the Automotive Industry
11/12/2011Source: Ministry of Industry and Trade
The Ministry of Industry and Trade presented its priorities for the development of the automotive industry to the Automotive Industry Association. Priorities include more support for research and development, developing human capital and also helping Czech companies expand abroad.
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Czech-Moldovian Business Forum
09/12/2011Source: Ministry of Industry and Trade
Czech Minister of Industry and Trade Martin Kuba and Moldovian Minister of Agriculture Vasil Bumacov organised a Business Forum for more than 130 entrepreneurs from both countries. The Czech Republic supports the conclusion of a Free Trade Agreement which will form a part of the Moldovian Association Agreement with the European Union. Free trade will bring benefits to both countries.
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Television Campaign to Boost Interest in Technical Education
07/12/2011Source: Ministry of Industry and Trade
The Ministry of Industry and Trade helps overcome the shortage of technical specialists on the labour market through an information campaign which shall support education in industrial fields at secondary schools. The campaign and its slogan "Trade can also be a road to success" is aimed mainly at parents of students in their final year of primary schools and young people at the age when they have to decide what direction to take after leaving a primary school.
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World`s first global nanofiber portal in the Czech Republic
05/12/2011Source: Ministry of Industry and Trade
Up-to-date information, patents, ideas, thoughts, experience and projects from the world of nanofibers can be found at one place - the Nanofibers Gateway portal located at www.nafigate.com. The aim of the project created by experts from the most prestigious international universities and companies is to create a platform which will support the innovation process and the launch of new products utilizing nanofibers onto the market.
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Commercial Code Amendment from January 2012
03/12/2011Source: BusinessInfo.cz
An amendment to the Commercial Code (act No.351/2011 Coll.) comes into force on 1 January 2012 which was originally conceived to be of a primarily "clerical" nature, but which in the end brings a number of substantial changes - chiefly among them a rule for the parallel performance in a corporate office and under an employment contract with one and the same company, and the prior waiver of the right to damages.
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OECD Supports Government Reforms
01/12/2011Source: Government of the Czech Republic
The Economic Survey of the Czech Republic for 2011 was presented to the Czech government by OECD Secretary General Ángel Gurría who expressed his support to the reform efforts of the government. The regular survey contains the OECD assessment of the state of national economies, analysis of government policies and recommendations for further reforms.
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Fiscal Outlook of the Czech Republic
28/11/2011Source: Ministry of Finance
The Department for Financial Policies of the Ministry of Finance of the CR publishes the Fiscal Outlook of the CR twice a year (generally at the end of May and November). It contains a forecast of the current and next years (i.e. up to 2012) and also the outlook of some economic indicators to the following 2 years.
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Draft cohesion policy envisages sanctions for states in debt
15/11/2011Source: EU Office ČS, a. s.
The European Commission has published a package of regulations on the European funds for 2014-2020. According to the new plan, the Commission could suspend the flow of European funds into states that do not respect the fiscal rules or are continuously breaching the conditions of the Stability and Growth Pact. The package amounting to 336 billion euro includes other new proposals in addition.
