Czech Business News
Important news from the current economic life of the Czech Republic.
Articles
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new Keeping them in
08/03/2010Source: BusinessInfo.cz
Tens of millions of dollars - this can be the benefit of a single large congress for the hosting municipality. Yet with the crisis hitting the Czech economy at full speed, Prague has been losing ground as a convention destination. Now, the country is battling to raise the awareness of its other destinations too, in an effort to improve investments into regional tourism and bring over more events, both from international and local organizers.
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new Arigato, Japan!
06/03/2010Source: BusinessInfo.cz
Japanese companies in the Czech Republic have been diligently facing the economic downturn so far. The most affected were those in the automotive industry and those sensitive to higher labor costs.
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new Survey of the Czech Economy and MIT Sectors in 2009
04/03/2010Source: Ministry of Industry and Trade
The following article contains information on trends in economic development in the first three quarters of 2009. It offers a rundown of principal trends in macroeconomic development, industry, construction, and foreign and domestic trade.
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new Overpriced green power
02/03/2010Source: Ministry of Industry and Trade
Unless changes are made soon to rules governing subsidies for purchase prices of electricity generated from solar power plants, the Czech Republic could face sharp rises in electricity prices.
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new Firms shouldn`t cut corners on finding fraud
28/02/2010Source: BusinessInfo.cz
As recent corporate incidents have shown us, financial losses arising from fraudulent activity may lead to layoffs, plant closures or even business failures. For those companies able to survive a fraudulent event, they may still miss key business opportunities. The misappropriated capital might otherwise have been used to build new facilities, create employment or develop better products and services.
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Firms want 2007 security contributions back
25/02/2010Source: BusinessInfo.cz
Czech employers have started applying for the refund of social security contributions that they paid for the first half of 2007. This followed the recent publicity regarding the judgment of the Regional Court in Ústí nad Labem, which ruled that there was insufficient legal basis for levying employers` contributions to the social security system in the first half of 2007.
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State`s role in the economy will grow
08/02/2010Source: BusinessInfo.cz
Despite curbing state expenditure, supporting Czech exports to foreign markets remains a priority for the current interim government. In the near future the government agency CzechTrade will open a representative office in Kazakhstan - one of the wealthiest countries in the world in terms of mineral resources.
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No more clear distinctions on the Czech market
19/02/2010Source: BusinessInfo.cz
The Czech legal market`s maturation has been erasing the boundaries between international and local law firms, experts claim. Now, it`s common to have Czechs as managing partners of international offices in Prague and foreigners in key positions with domestic law firms. The only difference is in limited access to major state arbitration tenders for local firms, but even that might change.
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Hot potato pension reform
16/02/2010Source: BusinessInfo.cz
Despite the global economic downturn, the Czech Republic remained one of the least-indebted European Union members, running public debt far below Maastricht criterion of 60 percent of gross domestic product (GDP). Last year, debt reached 35.2 percent of GDP, while the EU average was 61.5 percent in 2008.
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Farmers face stricter rules to prevent erosion
20/01/2010Source: BusinessInfo.cz
For the first time since November 1989, Czech farmers will have to adhere to regulations that should result in a more conscientious approach to use of arable land and treatment of the countryside. One aims of the new measures is to limit the risk of soil erosion and prevent floods.
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CzechInvest: our best advice is to invest now
19/01/2010Source: BusinessInfo.cz
As the state business development and investment promotion agency, CzechInvest is the first to feel the pulse of investors??appetite for the country. Alexandra Rudyšarová, interim director of the agency, argues that the country remains undoubtedly a key target for investment.
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A year of tough decisions
18/01/2010Source: BusinessInfo.cz
The Czech business environment in 2009 was dominated by dramatic restructuring and downsizing. Now, when the growth curve is taking off again, many managers need to reconsider the future and be ready for new investments. However, the country can?? endlessly rely on its strategic geography to attract investments; experts claim it also needs to put through painful reforms if it wants to stay on top.
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Partial real estate market revival expected in 2010
16/01/2010Source: BusinessInfo.cz
In 2009 the Czech real estate market saw its largest decline in the country`s history. Construction of new commercial and residential projects dropped to a minimum, while construction of industrial buildings ground to a halt. Investment in the sector dropped by 80 percent year-on-year, and rents for commercial property fell by 5 to 10 percent, depending on locality and quality of the property. In the residential sector, 40 percent fewer mortgages were approved.
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Insolvency faces changes
15/01/2010Source: BusinessInfo.cz
Property bankruptcies of debtors used to be a frequent subject of media interest. There were a large number of bankruptcy administrators of varying competence. Judges directly appointing administrators without clear rules created strong collusion of judge and administrator tandems in certain proceedings.
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Blast off for Czech space industry
14/01/2010Source: BusinessInfo.cz
Over the past several years, Czech firms have become increasingly involved in European space research programs, supplying equipment for satellites, including software applications for processing data collected in space. After the Czech Republic became a member of the European Space Agency (ESA) in November 2008, the doors to space technology contracts worth millions of euros were fully opened.
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Overall positive, with risks in sight
13/01/2010Source: BusinessInfo.cz
For foreign economic institutions, the destiny of the Czech economy is obviously related to the development of the economy in the eurozone and particularly in Germany.
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Screening out the future winners
11/01/2010Source: BusinessInfo.cz
For the Czech economy, 2010 will be a year of cleaning. Not only will local banks have to start dealing with unclear bad loan books, but also companies will have to decide whether they can make it through the downturn, sell or close shop.
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2009: Czech imprint on the EU?
06/01/2010Source: EU Office ČS, a. s.
As far as European Union events are concerned, 2009 was in certain ways an extraordinary year. Even the Czech Republic played a fairly significant role - sometimes praiseworthy, other times not very positive. In the following article, we will try not only to summarise what 2009 brought us, but to delve deeper with regard to a number of issues and ponder over where they stand.
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Welcome to the we-volution - the rise of digital social media
23/12/2009Source: BusinessInfo.cz
They say that a good name is priceless. In fact, a precise figure can be given for the value of a good name in business: 70 percent of the total worth of the Fortune 500 consists of intangibles - popular brands, goodwill and a strong reputation.
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You cannot beat the recession by austerity alone
17/12/2009Source: BusinessInfo.cz
Most firms have been pushed by the crisis to make drastic expenditure cuts. But they cannot escape the crisis without applying other remedies too, says Vítězslav Bogač.
